Which of the following statements is correct regarding the direct taxes?
I. Levied on taxable income earned by individuals and corporate entities.
II. Gift tax is a type of direct tax.
1
Only I
2
Neither I nor II
3
Both I and II
4
Only II
Which of the following statements is correct regarding the direct taxes?
I. Levied on taxable income earned by individuals and corporate entities.
II. Gift tax is a type of direct tax.