Q. Corporation Tax:

  • (A) is levied by the Union and collected and appropriated by the States
  • (B) is levied by the Union and belongs to it exclusively
  • (C) is levied and appropriated by the States
  • (D) is levied by the Union and shared by the Union and the States
βœ… Correct Answer: (B) is levied by the Union and belongs to it exclusively

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