Tax incidence: Tax incidence is the entity on whom tax is imposed. It is the distribution of the overall tax burden between sellers and buyers in an economy.
Tax burden: It is the total amount of tax paid by a particular group of people, an industry etc especially as compared to what other groups, industries etc pay.
Progressive tax: The progressive tax means tax as a percentage of income rises as income rises. It is good for reducing inequality in a country.
Tax buoyancy: It refers to the percentage change in tax revenue with the growth of national income. It is growth based increase in tax collections.
Tax elasticity: Tax elasticity is defined as the percentage change in tax revenues with the growth of national income. It is growth based increase in tax collections.
Minimum Alternate tax: Some companies do not show tax liability under Income Tax act
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