Which of the following tax is introduced in India in 1953 and abolished in 1985 ?
Estate duty was levied under the Estate Duty Act, 1953 on property passing on death, and it was abolished for deaths on or after 16 March 1985. Gift tax ran from 1958 to…
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Which of the following tax is introduced in India in 1953 and abolished in 1985 ?
Answer and explanation
Correct answer A
Estate duty was levied under the Estate Duty Act, 1953 on property passing on death, and it was abolished for deaths on or after 16 March 1985. Gift tax ran from 1958 to 1998, and expenditure tax dates from 1957, so neither fits the 1953 to 1985 span. Agricultural income tax is a state levy and was not introduced or abolished in those years.
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UGC NET Economics