Question

Services sector provides revenue to the government in the form of ----------

a) Excise duty

b) Custom duty

c) Income tax

d) GST

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Answer 1

Answer:

C ) Income Tax

Explanation:

C ) Income Tax

Answer 2

The answer to the given question is as follow:

The services sector provides revenue to the government in the form of income tax.

Income Tax:

• An income tax is a tax levied on individuals or entities based on their earnings or profits.
• In most cases, income tax is calculated as the product of a tax rate multiplied by the taxable income.
• Taxation rates may differ depending on the taxpayer's characteristics and the type of income.

Hence, the answer to the given question is an option (c) income tax.