[amp_mcq option1=”Corporation Tax” option2=”Income Tax” option3=”Customs Duty” option4=”Union Excise Duty” correct=”option4″]<\/p>\n
The correct answer is (d) Union Excise Duty.<\/p>\n
Union Excise Duty is a tax levied on goods produced or manufactured in India. It is one of the major sources of revenue for the central government. The rate of Union Excise Duty varies from product to product. Some of the goods that are subject to Union Excise Duty include alcohol, tobacco, petroleum products, and automobiles.<\/p>\n
Corporation Tax is a tax levied on the profits of companies. It is one of the major sources of revenue for the central government. The rate of Corporation Tax varies from company to company, depending on their profits.<\/p>\n
Income Tax is a tax levied on the income of individuals and companies. It is one of the major sources of revenue for the central government. The rate of Income Tax varies from individual to individual and company to company, depending on their income.<\/p>\n
Customs Duty is a tax levied on goods imported into India. It is one of the major sources of revenue for the central government. The rate of Customs Duty varies from product to product. Some of the goods that are subject to Customs Duty include electronics, automobiles, and jewellery.<\/p>\n
In 2007-08, Union Excise Duty yielded the maximum revenue to the centre, followed by Income Tax, Corporation Tax, and Customs Duty.<\/p>\n","protected":false},"excerpt":{"rendered":"
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