Which of the following deal with the residuary power of taxation in India?

  1. Article 248
  2. Seventh Schedule
  3. Eighth Schedule

Select the correct option from the codes given below:

Answer: [A] Only 1 & 2

Article 248 and Entry 97 of the Union List of Constitution of India assign the residuary powers of legislation exclusively to the union  If no entry in any of the three lists covers a piece of legislation , it must be regarded as a matter not enumerated in any of the three lists, and belonging  exclusively to parliament  under entry 97, list I by virtue  of Art. 248. In other words, the scope and extent of Article 248 is identified with that of entry 97, list I.

This question is a part of GKToday's Integrated IAS General Studies Module