Economics · Principles of Taxation
Match LIST-I with LIST-II: LIST-I (Tax Concept) A. Horizontal Equity B. Vertical Equity C. Progressive Taxation D. Proportional Taxation LIST-II (Operational Definition) I. A uniform rate of tax is applied to all taxpayers regardless of their income level. II. The rate of tax increases as the income of the taxpayer increases. III. Individuals with similar income and ability to pay contribute equal taxes. IV. Individuals with higher income and greater ability to pay contribute more taxes. Choose the correct answer from the options given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A-III, B-IV, C-II, D-I✓
- 2A-III, B-I, C-IV, D-II
- 3A-II, B-I, C-IV, D-III
- 4A-IV, B-III, C-I, D-II
Correct answer
A-III, B-IV, C-II, D-I
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