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A constitutional limit underpins the entire Indian tax system. The lesson cites the relevant Article that mandates legality of taxation. Which Article reads "No tax shall be levied or collected except by the Authority of Law"?
Answer & Solution
Correct answer: D.
1. The lesson cites two Constitutional anchors of taxation.
2. Article 265 mandates that no tax be levied or collected except by the Authority of Law.
3. Article 246 distributes legislative powers between Parliament and State Legislatures.
4. Article 286 deals with restrictions on inter-State trade taxes; Article 110 with Money Bills.
_Source: ICSI CS Executive Paper 4 (Tax Laws) — Lesson 1: Direct Taxes — At a Glance, pp. 10-22._
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