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Question : Which among the following is the tax levied by the center and not shared with states?

Option 1: Sales tax

Option 2: Excise duty

Option 3: Corporation tax

Option 4: Income tax


Team Careers360 11th Jan, 2024
Answer (1)
Team Careers360 17th Jan, 2024

Correct Answer: Corporation tax


Solution : The correct option is Corporation tax .

The Union Government, as the central authority, sets the tax rates and regulations governing corporation tax. The revenue collected from corporation tax contributes to the central government's funds, supporting a range of national-level endeavours, including infrastructure projects, defence, and other essential functions of the central administration.

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