Under Article 265 of the Constitution, no tax shall be levied or collected except by:
ANotification of CBDT
BExecutive order
CAuthority of law
DResolution of Parliament
Answer & Solution
Correct answer: C. Authority of law
1. Article 265: no tax shall be levied or collected except by authority of law.
2. Both levy and collection must be under a law framed by the government.
3. Constitutional safeguard against arbitrary taxation.
_Source: ICAI BoS CA Final Paper 7, Ch 1 "Basic Concepts"_
Related questions
'Specified person' for higher TDS under Section 206AB is one who:Marginal relief from surcharge applies when:Rebate under Section 87A under default regime is available up to:Section 14 classifies income under how many heads?Charging section for income-tax is:Substantial interest in a company under Section 2(32) means:Which deduction IS available under Section 115BAC?Section 115BAC default regime basic exemption is: