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Questions and Answers
Which article of the Indian Constitution restricts the power to levy taxes?
Which article of the Indian Constitution restricts the power to levy taxes?
Who has the authority to levy various taxes as per the Constitution of India?
Who has the authority to levy various taxes as per the Constitution of India?
What was the approximate direct tax collections reported by CBDT in 2023-24?
What was the approximate direct tax collections reported by CBDT in 2023-24?
Who is responsible for passing the accompanying law for each tax levied or collected?
Who is responsible for passing the accompanying law for each tax levied or collected?
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What is a major problem related to taxes in India?
What is a major problem related to taxes in India?
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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.
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Description
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.
