Which one of the following DOES NOT come under the jurisdication of st...
State Taxation:
State taxation refers to the collection of taxes by the state government. These taxes are imposed on various aspects such as income, property, goods and services, and other transactions. Each state has the power to levy and collect taxes within its jurisdiction.
Taxes Under State Jurisdiction:
State taxation includes several types of taxes that fall under its jurisdiction. These taxes are primarily imposed on activities and properties within the state's boundaries. Some of the common taxes under state jurisdiction include:
1. Land Revenue:
Land revenue refers to the tax collected by the state government on the income generated from land. It is one of the primary sources of revenue for the state. The tax is usually determined based on the land's value, location, and usage. Land revenue is an important source of income for the state, which is utilized for various developmental activities.
2. Taxes on Agricultural Income:
Taxes on agricultural income are also levied by the state government. However, it is important to note that agricultural income is subject to certain exemptions and limitations under the Income Tax Act. While the taxation of agricultural income is primarily under the jurisdiction of the state, the central government also plays a role in determining the tax laws related to agricultural income.
3. Taxes on Land and Buildings:
The state government also has the authority to impose taxes on land and buildings within its jurisdiction. These taxes are usually based on the property's value and are collected annually or periodically. The revenue generated from these taxes is utilized for the development and maintenance of public infrastructure and services.
Taxes NOT under State Jurisdiction:
The option 'D' - Personal income tax, does not come under the jurisdiction of state taxation. Personal income tax is imposed and collected by the central government. It is a direct tax levied on the income earned by individuals, including salaries, wages, business profits, and other sources of income. The central government has the authority to determine the rates, exemptions, and other provisions related to personal income tax.
Conclusion:
In summary, while land revenue, taxes on agricultural income, and taxes on land and buildings fall under the jurisdiction of state taxation, personal income tax is not within the purview of state taxation. Personal income tax is levied and collected by the central government.
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