Which one of the following taxes is not included in the Central Pool to be shared with the States according to the recommendations of Finance Commission of India?
- A. Personal Income Tax
- B. Corporate Profit Tax
- C. Surcharge and Cess ✓
- D. Excise Duties
Correct Answer: C. Surcharge and Cess
Explanation
Surcharge and Cess are additional taxes levied by the central government for specific purposes and are not shared with the states in the Central Pool.
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