Civil Services TNPSC Group 1 (New Syllabus) Mock Test 2025 General Knowledge Economy Money and Banking
Assertion (A):- India follows a progressive income tax regime.
Reason (R):- In this tax regime, tax is levied at increasing rates to increasing brackets of income and revenue; thereby reducing the burden on low-income classes of the population.
In the context of the above two statements, which one of the following is correct?
1
Both A and R are true and R is the correct explanation of A.
2
Both A and R are true but R is not a correct explanation of A.
3
A is true but R is false.
4
A is false but R is true.
5
Answer Not Known