Today's Top News

  • Why is the Indian Statistical Institute Bill controversial?
  • The road ahead for the Asiatic lion
  • A climate resilience pathway between India and China
  • Fiscal federalism, efficiency versus equity concerns
  • RBI panel keeps repo rate steady at 5.25%

Today's Quiz

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Thursday, 06 August 2026
  • Consider the following statements regarding 'Cess' and 'Surcharge' in the Indian taxation system:
    1. Under the provisions of the Indian Constitution, the revenue collected from both cesses and surcharges forms a part of the divisible pool of taxes.
    2. While a surcharge can be utilized for general government expenditure, a cess is levied for a designated cause and its proceeds are meant to be transferred to a specific reserve fund.
    Which of the statements given above is/are correct?

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