GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following taxes is not levied by the Union Government?
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Wealth tax
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Profession tax
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Excise duty
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Income tax
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Explanation:
Detailed explanation-1: -The correct answer is Excise Tax. Excise tax is not levied by the Union Government.
Detailed explanation-2: -estate out of income of family estate [Section 10(2)] As per section 10(2), amount received out of family income, or in case of impartible estate, amount received out of income of family estate by any member of such HUF is exempt from tax.
Detailed explanation-3: -The correct answer is Profession Tax.
Detailed explanation-4: -Property tax comes under the control of the State government.
There is 1 question to complete.