Buoyancy is a basic principle of taxation which means:
A. The system should be such that cost of collection is least
B. Tax obligation of the payers should be well determined
C. The system should be such that the tax revenue has the inherent tendency to increase as the economy grows
D. Tax base should be fairly diversified so that the tax burden is widely spread
Choose the correct answer from the options given below:
1
A only
2
A and B only
3
C only
4
D only