General Knowledge - Indian Economy - Discussion

Discussion :: Indian Economy - Indian Economy (Q.No.54)

54. 

The annual yield from which of the following Union Government taxes is the highest?

[A]. Custom duties
[B]. Corporation tax and income tax
[C]. Inheritance tax, wealth tax, interest tax and gift tax
[D]. Excise duties

Answer: Option D

Explanation:

No answer description available for this question.

Ravi said: (Jul 22, 2011)  
Excise duties are 16%

Gulshan said: (Nov 29, 2012)  
What is excise duty?

Suvo said: (Dec 30, 2012)  
Corporate tax has more contribution then excise duties where income tax has less. So what would be correct answer?

Suvo said: (Dec 30, 2012)  
Corporate tax has more contribution then excise duties where income tax has less. So what would be correct answer?

Gaurav said: (Aug 7, 2013)  
This is a wrong answer. The share of direct taxes is way more as compared to indirect taxes. Corporate tax accounts of approx. 36% of the total tax revenues whereas excise amounts to just 17%.

Divyesh said: (May 25, 2014)  
It is right answer because question asks annual yield from tax.

It is Union Excise Duty.

Murali said: (Aug 20, 2014)  
Answer is wrong. Highest share is in this way.

Corporate tax > income tax > service and other tax > custom > excise.

So corporate and income tax combined is much higher than excise duties.

Tuks said: (Apr 4, 2015)  
Current scenario is Corporate tax > income tax > excise tax > custom = service tax and numerically 20 > 14 > 10 > 9 = 9 respectively. They are bound to change as time passes.

Raaz said: (Dec 16, 2015)  
Corporate tax is the right answer. For detail clarification go to the current status of Indian tax.

Ashish Prajapati said: (Apr 12, 2016)  
Excise duty is a duty levied on goods manufactured or produced in India which is mentioned in central excise tariff act 1985. Excise act is governed by central excise act 1944.

Duty is generally levied on movable and marketable goods manufactured in India.

Mandira Dutta said: (Oct 22, 2017)  
Nowadays, it is corporation tax. India earns more money through this tax.

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