GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which is the most important source of income for Government of India?
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Interest
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Licence fee
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Income tax
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Excise duty
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Explanation:
Detailed explanation-1: -Detailed Solution. The correct answer is Corporate tax.
Detailed explanation-2: -Taxation is the primary source of income for the government. The most important revenue receipts for the government, taxes are involuntary fees levied on individuals and corporations to finance government activities.
Detailed explanation-3: -Tax is the main source of revenue for the government. The government levies taxes on incomes, goods and services. Q. What is the main source of revenue for the government?
Detailed explanation-4: -Final Word. To sum up, the two essential sources of revenue for the Government of India are tax and non-tax revenues.
There is 1 question to complete.