2024 · Q98
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?
General KnowledgeIndian Economy
- APersonal Income Tax
- BCorporate Profit Tax
- CSurcharge and Cess
- DExcise Duties
Explanation
Under Article 270 as interpreted through Finance Commission recommendations, the divisible central pool shared with states includes personal income tax, corporation tax and excise duties. Surcharges and cesses levied for specific Union purposes are excluded from the divisible pool and retained by the Centre. Hence option C is correct.