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Which of the following yields the largest revenue to the Government of India?
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- Sales tax
- Excise duty
- Income tax
- Entertainment tax
- Sales 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. The Government of India earns maximum from Union Excise Duty.
