Which among the following becomes the part of Consolidated Fund of India?
2.Taxes on railway fares and freights
3.Taxes on sale and purchase of newspapers and advertisements therein
Choose the correct option from the codes given below:
Capitation Taxes are state sources. The Taxes on railway fares and freights and Taxes on sale and purchase of newspapers and advertisements therein, are taxes levied and collected by the Union but are assigned to the states as per article 269.However, article 269(2) says that: the net proceeds in any financial year of any such tax, except in so far as those proceeds represent proceeds attributable to Union territories, shall not form part of the Consolidated Fund of India, but shall be assigned to the States within which that tax is leviable in that year, and shall be distributed among those States in accordance with such principles of distribution as may be formulated by Parliament by law. So, the answer is “None of them”.
This question is a part of GKToday's Integrated IAS General Studies Module