| 1. 72.85 |
| 2. 97.25 |
| 3. 46.89 |
| 4. 27.14 |
A) 1 only
B) 2 only
C) 3 only
D) 3 and 4
Correct Answer: B
Solution :
The highest rate of income tax was 97.25, before 1975. Moderate rates of income tax encourage savings, faster growth and motivate voluntary compliance to tax regime. Over the years, the rates have been brought down
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