Income tax is a direct tax levied by the government on the annual income earned by individuals and businesses. The collected revenue funds public infrastructure, healthcare, national defense and various social welfare programs.
Cbse Class 9 Social Science Part 2 Solutions
Class 9 Social Science part 2 chapter 5 question answer
Income tax is a direct levy imposed by the central government on personal earnings, business profits and other monetary gains generated within a financial year. Calculated using progressive tax slab rates, this collected revenue serves as the nation’s primary financial resource to build infrastructure, provide public education, strengthen healthcare, maintain national defense and run poverty-alleviation initiatives.
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