Q. Which of the following is/are direct tax/taxes?
1.Corporate tax
2.Dividend tax
3.Interest tax
How many of the statements given above are correct?
Answer: C
Notes:
Explanation: While accounting/calculating national income the taxes, direct and indirect, collected by the government, need to be considered.
In the case of India, to the extent the direct taxes (individual income tax, corporate income tax, i.e., the corporate tax, dividend tax, interest tax, etc.) are concerned, there is no need of adjustment whether the national income is accounted at factor cost or market cost.
Source: Ramesh Singh
