Which among the following is a tax levied by Centre and not shared with States ?
Options:
A . Excise Duty
B . Sales Tax
C . Corporation Tax
D . Income Tax
Answer: Option C Answer: (c) Taxes levied, collected and retained by the Centre are: Corporation Tax (Corporate tax) Customs Duties. Surcharge on Income Tax. Taxes on the capital value of assets of individuals and companies. Fees on matters of the Union list. These taxes belong to the centre exclusively. In other words, no part of the proceeds of these taxes can be assigned to the states.
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