Buoyancy of a tax is defined as ?
Aincrease of tax rate
Bdecrease in tax revenue
Cincrease in tax revenue
Dincrease in ratio of direct to indirect tax
Aincrease of tax rate
Bdecrease in tax revenue
Cincrease in tax revenue
Dincrease in ratio of direct to indirect tax
Related Questions:
Consider the following statements.
1.Professional tax is levied by state government or local municipal bodies and is in addition to the income tax that the central government collects.
2.Article 276 of the constitution empowers the state to levy the tax in respect of profession, trade, calling and employment.
Which of the statement given above is / are correct ?