5 Questions
Which article of the Indian Constitution restricts the power to levy taxes?
Article 265
Who has the authority to levy various taxes as per the Constitution of India?
Union Government and State Governments
What was the approximate direct tax collections reported by CBDT in 2023-24?
₹1,900,000 crore
Who is responsible for passing the accompanying law for each tax levied or collected?
Parliament or State Legislature
What is a major problem related to taxes in India?
Tax evasion
Study Notes
Taxation in India
- Article 265 of the Indian Constitution restricts the power to levy taxes, ensuring that no tax is levied or collected except by the authority of law.
- The Parliament of India has the authority to levy various taxes as per the Constitution of India.
- The Central Board of Direct Taxes (CBDT) reported approximate direct tax collections of ₹14.09 lakh crore in 2023-24.
- The Parliament is responsible for passing the accompanying law for each tax levied or collected.
- A major problem related to taxes in India is evasion, with many individuals and businesses evading tax payments, resulting in significant revenue losses for the government.
Test your knowledge of Indian taxation with this quiz! Explore the various taxes levied by the Central Government, State Governments, and local authorities in India. Gain insights into the tax allocation powers as per the Constitution of India.
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