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Consider the following statements.
1. In India, the Constitution gives the government the right to levy taxes on individuals and organisations.
2. In India, any tax being charged has to be backed by a law passed by the Parliament and state assemblies.
3. As per the Seventh Schedule of the Constitution, Union and the States have concurrent power of taxation.
Which of the above statements is/are correct?
- a)1 only
- b)1, 2
- c)1, 3
- d)1, 2, 3
Correct answer is option 'B'. Can you explain this answer?
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Consider the following statements.1. In India, the Constitution gives ...
In India, the Constitution gives the government the right to levy taxes on individuals and organisations, but makes it clear that no one has the right to levy or charge taxes except by the authority of law. Any tax being charged has to be backed by a law passed by the legislature or Parliament.
Taxes in India come under a three-tier system based on the Central, State and local governments, and the Seventh Schedule of the Constitution puts separate heads of taxation under the Union and State list. There is no separate head under the Concurrent list, meaning Union and the States have no concurrent power of taxation.
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Consider the following statements.1. In India, the Constitution gives ...
Explanation:
1. Constitution and taxation:
- Statement 1 is correct. The Constitution of India provides the government with the authority to impose taxes on individuals and entities. This power is derived from Article 265 of the Constitution.
2. Backing of laws:
- Statement 2 is correct. Any tax imposed in India must be supported by a law enacted by the Parliament or state legislatures. This ensures that taxation is carried out within the legal framework and with proper authorization.
3. Seventh Schedule and taxation:
- Statement 3 is incorrect. The Seventh Schedule of the Indian Constitution delineates the division of powers between the Union and the States. While both the Union and the States have the power to levy taxes, it is not termed as "concurrent power of taxation." The division of taxation powers is specified under various lists in the Seventh Schedule.
Therefore, the correct combination of statements is 1 and 2, making option (b) the correct answer.
1. Constitution and taxation:
- Statement 1 is correct. The Constitution of India provides the government with the authority to impose taxes on individuals and entities. This power is derived from Article 265 of the Constitution.
2. Backing of laws:
- Statement 2 is correct. Any tax imposed in India must be supported by a law enacted by the Parliament or state legislatures. This ensures that taxation is carried out within the legal framework and with proper authorization.
3. Seventh Schedule and taxation:
- Statement 3 is incorrect. The Seventh Schedule of the Indian Constitution delineates the division of powers between the Union and the States. While both the Union and the States have the power to levy taxes, it is not termed as "concurrent power of taxation." The division of taxation powers is specified under various lists in the Seventh Schedule.
Therefore, the correct combination of statements is 1 and 2, making option (b) the correct answer.
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Consider the following statements.1. In India, the Constitution gives ...
In India, the Constitution gives the government the right to levy taxes on individuals and organisations, but makes it clear that no one has the right to levy or charge taxes except by the authority of law. Any tax being charged has to be backed by a law passed by the legislature or Parliament.
Taxes in India come under a three-tier system based on the Central, State and local governments, and the Seventh Schedule of the Constitution puts separate heads of taxation under the Union and State list. There is no separate head under the Concurrent list, meaning Union and the States have no concurrent power of taxation.
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Consider the following statements.1. In India, the Constitution gives the government the right to levy taxes on individuals and organisations.2. In India, any tax being charged has to be backed by a law passed by the Parliament and state assemblies.3. As per the Seventh Schedule of the Constitution, Union and the States have concurrent power of taxation.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)1, 2, 3Correct answer is option 'B'. Can you explain this answer?
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Consider the following statements.1. In India, the Constitution gives the government the right to levy taxes on individuals and organisations.2. In India, any tax being charged has to be backed by a law passed by the Parliament and state assemblies.3. As per the Seventh Schedule of the Constitution, Union and the States have concurrent power of taxation.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)1, 2, 3Correct answer is option 'B'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about Consider the following statements.1. In India, the Constitution gives the government the right to levy taxes on individuals and organisations.2. In India, any tax being charged has to be backed by a law passed by the Parliament and state assemblies.3. As per the Seventh Schedule of the Constitution, Union and the States have concurrent power of taxation.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)1, 2, 3Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements.1. In India, the Constitution gives the government the right to levy taxes on individuals and organisations.2. In India, any tax being charged has to be backed by a law passed by the Parliament and state assemblies.3. As per the Seventh Schedule of the Constitution, Union and the States have concurrent power of taxation.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)1, 2, 3Correct answer is option 'B'. Can you explain this answer?.
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