Question : Among the tax revenues of the Union Government, the most important source is:
Option 1: income tax
Option 2: customs duty
Option 3: corporation tax
Option 4: union excise duties
Answer (1)
26th Jan, 2024
Correct Answer: union excise duties
Solution : The correct option is corporation tax .
Corporation tax is the main source of revenue for the Union government. It is a tax levied against limited firms and other organisations like associations, clubs, and unorganised enterprises that have taxable earnings.
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