Correct option is A
The correct answer is option (A) Cess
A cess is a temporary tax levied by the government to generate additional revenue for a specific purpose. It is usually imposed on top of existing taxes and is earmarked for a particular purpose, such as education, health, or infrastructure development
Information Booster:-
- A rate refers to a local tax levied on property or other assets, often by municipal bodies, for local infrastructure and services.
- A fee is a charge levied by the government or an authority in return for a specific service provided, such as registration fees, tuition fees, or licensing fees.
- A surcharge is an additional tax levied on the existing tax amount for a specific purpose, but it is not earmarked for a particular fund. For example, a surcharge on income tax applies to individuals earning above a certain threshold.