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Q: Statement: Should CBDT abolish income tax in India? Argument 1 : Yes, it is an unnecessary burden on the wage earners in India. Argument 2 : No, it is a good source of revenue for Indian Government.
  • A. Both arguments 1 and 2 are strong
  • B. Neither argument 1 nor 2 is strong
  • C. Only argument 1 is strong
  • D. Only argument 2 is strong
Correct Answer: Option D - Income Tax in India should not be abolished by CBDT as it is the main source of revenue in India. Hence, only argument 2 is strong.
D. Income Tax in India should not be abolished by CBDT as it is the main source of revenue in India. Hence, only argument 2 is strong.

Explanations:

Income Tax in India should not be abolished by CBDT as it is the main source of revenue in India. Hence, only argument 2 is strong.