GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Finance Commission
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National Development Council
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Inter-state Council
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Constitution of India
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Detailed explanation-1: -Agricultural income tax to states in India is assigned by the Constitution of India. The agency responsible for it is Finance Commission whose function is distribution of net proceeds of taxes between Centre and the States, to be divided as per their respective contributions to the taxes.
Detailed explanation-2: -The Raj committee submitted its report in October 1972. The major recommendations of the Raj Committee were: ADVERTISEMENTS: (i) Imposition of Agricultural Holdings Tax (AHT) on agriculturists.
Detailed explanation-3: -Professional tax, VAT, and motor vehicle tax are some of the taxes that are levied and collected by the state. When it comes to taxes levied on individuals or organisations, there are two broad types of taxes.