Which of the following taxes does the Center levy, collect, and retain?

Correct option is B

The correct answer is (b) Surcharge on income tax
Explanation:
· According to Article 271 of the Indian Constitution, the Parliament can levy a surcharge on certain duties and taxes for the purposes of the Union.
· The proceeds of such surcharges go exclusively to the Center (Union Government) and are not shared with the States. The Center levies, collects, and fully retains these funds.
Information Booster:
· Article 268: Duties levied by the Union but collected and appropriated by the States (e.g., Stamp duties).
· Article 269: Taxes levied and collected by the Union but assigned to the States (e.g., taxes on the sale or purchase of goods in inter-state trade).
· Article 270: Taxes levied and collected by the Union and distributed between the Union and the States (e.g., Income Tax, Corporate Tax).
Additional Knowledge:
(a) Excise duty on medicinal preparations: Historically under Article 268, levied by the Center but collected by States. (Now largely subsumed under GST).
(d) Stamp duties: Levied by the Center but collected and retained by the States (Article 268).
in Uttarakhand, known for its lakes (Naini Lake).