Questions

Corporation tax is a tax imposed on the net income of the company. Companies, both private and public which are registered in India under the Companies Act 1956, are liable to pay corporate tax.

Taxes in India are levied by the Central Government and the state governments. Some minor taxes are also levied by the local authorities such as the Municipality. The authority to levy a tax is derived from the Constitution of India which allocates the power to levy various taxes between the Central and the State.

Hence, Corporate Tax is imposed by Central Government.

Town planning, Drainage system and Use of Bronze are the features of Indus Valley Civilization. Use of Iron was not the feature of this.

National Statistics day is celebrated annually 29th June, on the occasion of Birth anniversary of India’s eminent statistician Late Prof Prasanta Chandra Mahalanobis.

It also commemorates the contributions made by PC Mahalanobis in the fields of statistics and economic planning.

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