Explanation:

The following taxes belong to the centre exclusively. They are levied, collected and appropriated by Centre alone. In other words, no part of the proceeds of these taxes can be assigned to the states.

• Corporation Tax (Corporate tax) Customs Duties.
• Surcharge on Income Tax.
• Taxes on capital value of assets of individual and companies. Fees on matters of the Union list.
• Taxes on income (other than agricultural income and corporation tax) shall be levied and collected by the centre but compulsorily distributed between the centre and the states in such manner as prescribed by the president on the recommendations of the Finance Commission. The obligatory sharing of income tax is provided by Article 270 of the Constitution.