Consider the following statements and identify the right ones.
i. Wealth tax is collected from productive as well as unproductive assets
ii. Estate duty was a type of inheritance tax of large estates
i only
ii only
both
none
Explanation:
Wealth tax is collected from unproductive assets only. Estate duty was abolished in 1985.
Wealth tax is collected from unproductive assets only. Estate duty was abolished in 1985.