GK
TAXES IN INDIA
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
NITI Ayog
|
|
|
Finance Commission
|
|
|
Board of Direct Taxes
|
|
|
National Development Counsel
|
Detailed explanation-1: -Ans. The Finance Commission is constituted by the President under article 280 of the Constitution, mainly to give its recommendations on distribution of tax revenues between the Union and the States and amongst the States themselves.
Detailed explanation-2: -The Fifteenth Finance Commission (XV-FC or 15-FC) is an Indian Finance Commission constituted in November 2017 and is to give recommendations for devolution of taxes and other fiscal matters for five fiscal years, commencing 2020-04-01.
Detailed explanation-3: -The correct answer is Finance Commission. It was constituted by the President of India under Article 280 of the Constitution. Its main work is to define the financial relations between the Central Government and State Governments.