| With reference to contribution from taxes, consider the following statements: |
| 1. Contribution from direct taxes is more than mat from indirect taxes. |
| 2. Corporation tax is the largest contributor. |
| Which of the statements given above is/are correct? |
A) 1 only
B) 2 only
C) Both 1 and 2
D) neither 1 nor 2
Correct Answer: C
Solution :
[c] Both 1 and 2. Since 2007-08, the contribution of direct tax has been more than indirect tax. Before this, the trend was opposite. Corporation tax is the largest contributor among the taxes.
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