1
Which of the following is a union tax?
Answer: Corporation tax
i. Central government does not have exclusive power to impose tax which is not mentioned in state or concurrent list.
ii. The constitution also provides for transferring certain tax revenues from union list to states.
Answer:ii only
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Answer:Personal income tax
I. Projects have defined objectives
II. Programs have a larger scope than projects
III. The projects and programs in a portfolio must be directly related
Answer: III only
i. Wealth tax is collected from productive as well as unproductive assets
ii. Estate duty was a type of inheritance tax of large estates
Answer: ii only
i. The 14th finance commission is headed by C. Rangarajan
ii. The recommendations of the commission will come into effect from April, 1, 2015
Answer:ii only
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