GK
TAXES IN INDIA
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is not a union tax?
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Stamp duties on financial documents
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Taxes on railway freights and fares
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Both (a) and (b)
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Tolls
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Explanation:
Detailed explanation-1: -Stamp duties on financial documents, Taxes on railway freights and fares are not the examples of Union tax.
Detailed explanation-2: -Property tax comes under the control of the State government.
Detailed explanation-3: -When it comes to taxes, there are two types of taxes in India-Direct and Indirect tax. The direct tax includes income tax, gift tax, capital gain tax, etc while indirect tax includes value-added tax, service tax, goods and services tax, customs duty, etc.
There is 1 question to complete.