DMPQ- Mention the various Tax revenue of Government.

Tax Revenue:

Union Excise Duties:

They are, presently, by far the leading source of revenue for the Central Government and are levied on commo­dities produced within the country, but exclu­ding those commodities on which State excise is levied (viz., liquors and narcotic drugs).

The most important commodities from the revenue point of view are sugar, cotton, mill cloth, tobacco, motor spirit, matches and cement.

Customs duties include both import and export duties. These are the second-most important source of revenue for the Central Government.

Income Tax:

Income tax is at present another important source of revenue for the Central Government. It is levied on the incomes of individuals, Hindu undivided families and unregistered firms.

Corporation Tax:

The income-tax on the net profits of joint stock companies is called corporation tax.

Wealth Tax:

It is an annual tax on the net wealth of individuals and Hindu undivided families. It is a progressive tax.

Gift Tax:

It is a tax on gifts of property by an individual in his lifetime to future successors.

Capital Gains Tax:

It is applicable to capital gains resulting from the sale, exchange or transfer of capital assets.

Hotel Expenditure Tax:

Recently, a new tax has been levied on those who patronise high class hotels.

Tax on Foreign Travel:

Another new tax levied on foreign travel for conserving foreign exchange as well as to raise revenue.

RAS-RTS FREE Notes brings Prelims and Mains programs for RAS-RTS FREE Prelims and RAS-RTS FREE Mains Exam preparation. Various Programs initiated by RAS-RTS FREE Notes are as follows:- For any doubt, Just leave us a Chat or Fill us a querry––

Android App for RAS Prelims and Mains 

-Rajasthan GK (History, Geography, Economy and Polity)
-RAS Prelims Notes
-RAS Current Affairs
-Daily Mains Practice Questions (DMPQ)
-Daily Prelims Practice Questions (DPPQ)
-Mains Topic wise Notes for All RAS GS Papers

Install Now on

Subscribe to RAS Free Notes

Never Miss any RAS important update!

Join 9,419 other subscribers