Which of the following taxes is within the Jurisdiction of the Central Government?
- ACorporation Tax
- BProfessional Tax
- CLand Revenue
- DExcise on alcoholic liquors
Solution & Step-by-step Explanation
Corporation Tax is a direct tax levied on the net income or profit of corporate entities and falls strictly under Entry 85 of the Union List (List I) within the Seventh Schedule of the Indian Constitution. Conversely, Land Revenue, Professional Tax, and Excise duty on alcoholic liquors fall under the jurisdiction of individual State Governments (List II).