Which of the following statements are true for the Income Ta

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153

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Which of the following statements are true for the Income Tax in India ?

I. It is a progressive tax

II. It is a direct tax

III. It is collected by the State Governments

IV. It is a proportional tax

Code :

U.P.P.C.S. (Mains) 2004 U.P.P.S.C. (GIC) 2010

[Fiscal Policy, Inflation Planning and Banking]

only I is correct

only I and II are correct

I, II and III are correct

II, III and IV are correct

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