 "Finance Commission Chairman N K Singh (centre) during a meeting of the 15th Finance Commission with its Economic Advisory Council, in New Delhi, on Friday | Photo: Dalip Kumar")
The 15th Finance Commission has broadly agreed with the Centre’s argument that states have been getting about half the divisible pool of taxes. It has also argued that the state governments need to be far more “aggressive” in raising their own tax revenues by tapping into rising property values in urban areas extensively. Asking for measures to tap new sources of revenue, it has advised the Centre to go for a Constitutional amendment to help states periodically revise the limits of profession tax.
Article 276 of the Constitution caps the levy of profession tax at Rs 2,500. Though it is
