Match List I with List II and select the correct answer ...........

Economic Affairs Tax System

Match List I with List II and select the correct answer:

List I (Taxes)	List II (Authority)
A.Taxes on Railway fares and Freights	1. Levied by Union, collected and appropriated by states
B.Corporation Tax	2. Levied and collected by the Union and assigned to the states
C.Stamp duty	3.Levied and collected by the Union but shared with states
D.Income Tax	4.Levied and collected by the Union and retained exclusively

Codes:

A B C D

2 1 3 4

2 4 1 3

3 1 4 2

4 2 1 3

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Explanation:

Both the statements are correct.
The office of the President of India is the creation of the constitution.
Article 53 says that the executive power of the union shall be vested in the President and shall be exercised by him either directly or through officers subordinates to him in accordance with this constitution.
Constitution under Article 55 also prescribes the manner of election of the President. The President of India is elected by indirect election that is by an electoral college, in accordance with the system of proportional representation by means of the single transferable vote.
As far as practicable, there shall be uniformity of representation of the different states at the election, according to the population and the total number of elected members of the legislative assembly of each state and parity shall also be maintained between the states as a whole and the union.
This second condition seeks to ensure that the votes of the states, in the aggregate, in the electoral college for the election of the President, shall be equal to that of the people of the country as a whole. In this way, the President shall be a representative of the nation as well as a representative of the people in the different states.