Multiple choice general knowledge

Corporate Tax is imposed by?

  1. Central Government

  2. State Government

  3. local Government

  4. Both Central and State Government
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A Correct answer
Explanation

Corporate tax is levied by the Central Government under the Income Tax Act, 1961. It's a direct tax on the net profits of companies registered in India. State governments do not impose corporate tax - they levy other taxes like state GST, stamp duty, and land revenue.

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