Under Article 266(1) of the Indian Constitution, which of the following sources of revenue are credited to the Consolidated Fund of India?
1. Corporation Tax and Income Tax
2. Loans raised by the government through Treasury Bills
3. Repayments of loans received by the government
Select the correct answer using the codes given below:

Question

Accepted Answer

According to Article 266(1) of the Constitution of India, the Consolidated Fund of India is formed by all revenues received by the Government of India (including tax revenues like Income Tax and Corporation Tax, and non-tax revenues), all loans raised by the government by the issue of treasury bills, loans, or ways and means advances, and all money received by the government in repayment of loans.

Answer

Answer