WBCS.LIVE practice question

Which of the following taxes is within the jurisdiction of the Central Government?

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. Corporation Tax
  2. Professional tax
  3. Land Revenue
  4. Excise on alcoholic liquors

Correct answer and explanation

Correct answer: Corporation Tax

Explanation: āœ… Correct Answer: A) Corporation Tax šŸ“š Explanation: Corporation Tax is a direct tax levied on the net income or profit of companies. It is exclusively within the jurisdiction of the Central Government and is a major source of its revenue. Other taxes like land revenue or excise on alcohol are primarily managed by individual state governments. This taxing power is clearly divided between the center and states.