The annual yield from which of the following Union Government taxes is the highest?
A. Custom duties
B. Corporation tax and income tax
C. Inheritance tax, wealth tax, interest tax and gift tax
D. Excise duties
Answer: Option D
Solution(By Examveda Team)
The annual yield from excise duties is the highest.This Question Belongs to General Knowledge >> Indian Economy
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As far as I know option B is right
How can excise duty becomes the highest yield, where it is known that Corporation Tax/corporate tax earns the maximum share of total tax revenue for union government. Income tax is progressive in nature, please explain the logic behind the answer.
Option B is correct.