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Collection from various Taxes in India

Published on Friday, November 28, 2014
One of the most common question asked in bank interviews is - Which is the major source of revenue to Indian Government ?

Type of Tax Collection in 2013-14 (Rs Crores)
Corporate Tax
Income Tax
Custom Duty
Excise Duty
Service Tax
Taxes on Union Territories
Corporation tax levied on companies under section Companies Act 1961

Income tax is levied on individual, firms other than companies under Income Tax Act 1961

Wealth tax is levied on assets of certain individuals and companies under Wealth Tax act, 1957

Service tax is levied on services provided by professionals and companies. Services under "Negative Lists" are exempted from service tax.

Excise duty is levied on production of goods. 

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