Entry 82 of the Union List empowers Parliament to make laws on taxes on:
AWealth and capital gains only (per relevant Section)
BAll forms of income
CIncome other than agricultural income (per relevant Section)
DProperty taxes
Answer & Solution
Correct answer: C. Income other than agricultural income (per relevant Section)
1. Seventh Schedule to Article 246 contains Union, State and Concurrent Lists.
2. Entry 82 of the Union List empowers Parliament for taxes on income other than agricultural income.
3. Agricultural income is reserved for States under Entry 46 List II.
_Source: ICAI BoS CA Final Paper 7, Ch 1 "Basic Concepts"_
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