Topics:
CH-3: LIBERALISATION, PRIVATISATION AND GLOBALISATION: AN APPRAISAL, Indian Economic Development, NCERT Books
Corporation Tax Reform
Since 1991, the rate of corporation tax has been:
- Increased sharply
- Gradually reduced — Correct Answer
- Kept unchanged
- Abolished completely
Explanation:
Correct Answer Explanation
The rate of corporation tax, which was very high earlier, has been gradually reduced.
Key Points:
- High tax rates were a reason for tax evasion.
- Moderate rates encourage savings and voluntary disclosure.
- Many procedures have been simplified and rates substantially lowered.
📚 About this Topic — CH-3: LIBERALISATION, PRIVATISATION AND GLOBALISATION: AN APPRAISAL
This multiple choice question is from CH-3: LIBERALISATION, PRIVATISATION AND GLOBALISATION: AN APPRAISAL, Indian Economic Development, NCERT Books. It has 4 options with a detailed explanation of the correct answer. Practice more MCQs from CH-3: LIBERALISATION, PRIVATISATION AND GLOBALISATION: AN APPRAISAL to strengthen your preparation.
