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The largest source of revenue to the Union Government is
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- Income Tax
- Central Excise Duty
- Customs Duty
- Wealth Tax
- Income Tax
Correct Option: B
Income Tax (corporate and non-corporate combined) contribute about 56 per cent of tax revenue of India. But, income tax, apart from agricultural income is shared between the Union and states. Among the given options, Excise duty is the chief and single largest source of revenue income.
