Question

Define Municipal corporation?List the two types of taxes

Answer 1

Explanation:

• In India municipal corporations or urban local bodies (ULB's) levy two types of taxes viz. Property tax and Professional tax. Property tax is an annual amount paid by a land owner to the municipal corporation of his/her area. The municipal corporation assesses and imposes the property tax annually or semi annually.

Answer 2

Explanation:

A municipal corporation is the legal term for a local governing body, including (but not necessarily limited to) cities, counties, towns, townships, charter townships, villages, and boroughs. The term can also be used to describe municipally owned corporations.

Regressive Tax

Proportional Tax