Please wait...
1800-212-7858 (Toll Free)
9:00am - 8:00pm IST all days

or

Thanks, You will receive a call shortly.
Customer Support

You are very important to us

For any content/service related issues please contact on this toll free number

022-62211530

Mon to Sat - 11 AM to 8 PM

Explain what is meant by progressive tax with an example.

Asked by Topperlearning User 5th June 2015, 9:02 AM
Answered by Expert
Answer:

A tax is said to be progressive when the rate of tax increases with an increase in the taxpayer’s income. Under this system, the tax liability increases not only in absolute terms but the proportion of income tax also increases. In India, the income tax rates are said to be progressive in nature as the tax rate increases from 20% to 30% for an individual earning more than Rs. 8 lakhs per year. 

Answered by Expert 5th June 2015, 11:02 AM
Rate this answer
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10

You have rated this answer /10

Your answer has been posted successfully!

Chat with us on WhatsApp