The Government of India derives its single largest source of revenue from
Options:
A . Customs Duties
B . Direct Taxes
C . Deficit Financing
D . Union Excise Duties
Answer: Option D Answer: (d) Income Tax (corporate and non-corporate combined) contribute about 56 per cent of the tax revenue of India. But, income tax, apart from agricultural income is shared between the Union and states. Among the given options, Excise duty is the chief and single largest source of revenue income. The Government of India earns maximum from Union Excise Duty.
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