Q115
Indian EconomyPublic Finance, Budget & Taxation
Which of the following taxes is within the jurisdiction of the central government?
- a.Corporation tax
- b.Professional tax
- c.Land revenue
- d.Exercise on alcoholic liquors
Answer: (A) Corporation tax
Corporation tax is levied on the net profits of companies and falls under the Union List (Central Government's jurisdiction). Professional tax is levied by state governments; land revenue is a state subject; and excise duty on alcoholic liquors is also in the State List under the Constitution's Seventh Schedule.