other govt exam FCI Assistant Grade 3 (AG III) Phase I & II Mock Test Income-tax and Corporate Tax Planning Income-tax
Which of the following statements is/are true with respect to Income Tax?
1. Income tax is levied on the income of individuals.
2. In India, the nature of the income tax is progressive.
3. The first income tax is generally attributed to Egypt.
4. Income tax generally is computed as the product of a tax rate times taxable income.
1
Only 1 and 2
2
Only 2 and 3
3
Only 1, 2 and 3
4
All of these
5
Only 1 and 4