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Among the taxing powers distributed by the Constitution, the lesson assigns certain taxes specifically to the State Government. Which of the following taxes is listed as a State Government power, not a Central Government power?
Answer & Solution
Correct answer: D.
1. The lesson lists the major taxes under each List.
2. Taxes on agricultural income are listed under the State Government head.
3. Customs, corporation tax and inter-State trade taxes are listed under Central Government.
4. So agricultural income remains a State subject under the constitutional scheme.
_Source: ICSI CS Executive Paper 4 (Tax Laws) — Lesson 1: Direct Taxes — At a Glance, pp. 10-22._
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