Q1. Which of the following taxes generates the maximum amount of revenue for the Government of India?
A Income Tax Correct
B Sales Tax
C Custom Duties
D Corporate Tax
Explanation
Income tax is the correct answer among the given options. In recent Union Budget receipt data, taxes on income other than corporation tax are higher than corporation tax: for example, 2024-25 actuals list income tax at Rs. 12,35,171 crore and corporation tax at Rs. 9,86,767 crore. Sales tax is not the main Union tax head in this framing, and customs duties are much smaller than the major direct-tax heads.