Q. Which of the following items is/are considered as a source of revenue for municipalities?
1. Income on minor mineral
2. Surcharge on stamp duty
3. Tax on advertisement published in newspaper
4. Property tax 5. Octroi tax
Select the correct answer using the code given below:
Answer: C
Notes:
Exp) Option c is the correct answer.
The revenue base of MCs can be broadly categorized into: (a) tax revenues, (b) non-tax revenues, (c) assigned (shared) revenue, (c) grants-in-aid, (d) loans and (e) other receipts. Tax revenue includes Property Tax, Octroi, Advertisement Tax other than published in newspaper, Tax on Animals, Vacant Land Tax, income on minor minerals Non tax revenue includes User Charges, Municipal Fees, Sale & Hire Charges, Lease amounts. Assigned (shared) revenue for municipalities includes Entertainment Tax, Surcharge on Stamp duty, Profession Tax, Motor Vehicles Tax
