Which one of the following statements regarding the levying, collecting and distribution of Income Tax is correct ?
(a)
The Union levies, collects and distributes the proceeds of income-tax between itself and the States
(b)
The Union levies, collects and keeps all the proceeds of income-tax to itself
(c)
The Union levies and collects the tax but all the proceeds are distributed among the States
(d)
Only the surcharge levied on income-tax is shared between the Union and the States