Preliminary exam General Studies September 22, 2024

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MCQ
GS

1.  Consider the following statements regarding the taxation system in India:

  1. The Indian Constitution provides the central government with the exclusive power to levy income tax.
  2. The concept of 'Tax Incidence' refers to the ultimate economic burden of a tax, which may differ from who formally pays it.
  3. The provision for the imposition of a 'Wealth Tax' has been repealed in India.

Which of the above statements is/are correct?

 

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