Which one of the following taxes is not included in the Central Pool to be shared with the States according to the recommendations of Finance Commission of India? (a) Personal Income Tax (b) Corporate Profit Tax (c) Surcharge and Cess (d) Excise Duties

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Q: 59 (CDS-II/2024)
Which one of the following taxes is not included in the Central Pool to be shared with the States according to the recommendations of Finance Commission of India?
(a) Personal Income Tax
(b) Corporate Profit Tax
(c) Surcharge and Cess
(d) Excise Duties

question_subject: 

Economics

question_exam: 

CDS-II

Surcharge and cess are not part of the divisible pool of taxes that is shared with the states. They are levied for specific purposes and retained by the central government.