Article 265 – Taxes not to be imposed save by authority of law
No tax shall be levied or collected except by authority of law.
Article 264 – Duties of States in respect of Union taxes and duties
The executive power of every State shall be so exercised as to ensure compliance with the laws made by Parliament in respect of taxes and duties.
Article 266 – Consolidated Funds and public accounts of India and of the States
All revenues received by the Government of India shall form one consolidated fund, and all expenditure shall be made therefrom, unless otherwise provided by law.
Similarly, each State shall have a consolidated fund and public account for revenues and expenditures.
Article 267 – Contingency fund of India and of the States
The President may establish a contingency fund to meet unforeseen expenditure, and similarly, the Governor of a State may establish such a fund for the State.
Article 268 – Duties levied by the Union and collected and appropriated by the Union and the States
Taxes on the income of corporations and certain duties shall be levied by the Union and apportioned between the Union and the States as prescribed by law.
Article 269 – Taxes levied and collected by the Union but assigned to the States
Certain duties of excise on goods and taxes on services shall be levied and collected by the Union but assigned to the States as per provisions of law.
Article 270 – Taxes levied and distributed between the Union and the States
All other taxes not mentioned in Articles 268 and 269 shall be levied by the Union and distributed between the Union and States according to Parliament law.
Article 271 – Surcharge on certain duties and taxes for purposes of the Union
Parliament may, by law, provide a surcharge on any tax or duty for the purposes of the Union.
Article 272 – Taxes and duties not mentioned in the Seventh Schedule
Parliament may impose taxes on matters not enumerated in the Seventh Schedule subject to law.
Article 273 – Grants in lieu of export duty on jute and jute products
The Union may provide grants to States as compensation for duties or taxes on jute and jute products.
Article 274 – Appropriation of revenues
No money shall be withdrawn from the Consolidated Fund of India except in accordance with law.
Article 275 – Grants from the Union to certain States
Parliament may make grants-in-aid to States in need of financial assistance.
Article 276 – Taxes on professions, trades, callings and employments
States may levy taxes on professions, trades, callings, and employments subject to Parliament’s limits.
Article 277 – Savings
Nothing in this part shall restrict any existing law unless explicitly altered by Parliament.
Article 278 – Taxation of railway fares and freight
Parliament shall regulate the taxation of railways fares and freight and assign revenue between the Union and States.
Article 279 – Finance Commission
The President shall, at the expiration of every fifth year or at such earlier time, by order constitute a Finance Commission which shall recommend the distribution of revenues between the Union and States.
Article 280 – Recommendations of Finance Commission
The Finance Commission shall make recommendations regarding the distribution of taxes, grants-in-aid, and other matters referred by the President.
Article 281 – Reports of the Comptroller and Auditor-General
The accounts of the Union shall be audited by the Comptroller and Auditor-General, who shall report to Parliament.
Article 282 – Expenditure defrayable by the Union
The Union may make any expenditure from the Consolidated Fund as it deems necessary.
Article 283 – Custody of Consolidated Funds and receipts and payments of public money
The Consolidated Fund of India shall be under the control of the Union and receipts and payments shall be as per law.
Article 284 – Custody of Contingency Fund and public accounts
The Contingency Fund and public accounts shall be maintained by the Union and audited as prescribed.
Article 285 – Exemption of the Union from payment of taxes
The property and income of the Union shall be exempt from State taxation unless Parliament otherwise provides.
Article 286 – Restrictions on imposition of taxes on the sale or purchase of goods
No State shall impose taxes on goods in inter-State trade except as permitted by Parliament.
Article 287 – Exemption from taxes on railway fares and freights
Parliament may exempt certain railway fares and freights from taxation by States.
Article 288 – Exemption from taxes on electricity duty
The Union may exempt electricity duties from taxation by States under law.
Article 289 – Exemption from taxes in respect of Government property
The property of the Union and States is exempt from taxation except as provided by law.
Article 290 – Grants-in-aid of revenues to certain States
The Union may make grants-in-aid to States to supplement their revenues.
Article 291 – Repealed
(Repealed)
Article 292 – Borrowing by the Union
The Union may borrow within or outside India in accordance with law.
Article 293 – Borrowing by States
States may borrow within the territory of India in accordance with law and with limits imposed by the Union.
Article 294 – Consolidated Fund of India and of the States to be the funds for loans raised by the Union and States
The Consolidated Funds shall serve as the funds for loans raised by the Union and States.
Article 295 – Contracts relating to matters in the Union List
Contracts entered into by the Union in respect of Union List subjects shall be binding.
Article 296 – Contracts relating to matters in the State List
Contracts entered into by States in respect of State List subjects shall be binding.
Article 297 – Agreements with foreign powers
Contracts or agreements made by the Union with foreign powers are valid and binding.
Article 298 – Legal proceedings
The Union or a State may sue or be sued by the name of the Union or State in respect of matters under their jurisdiction.
Article 299 – Contracts made in the name of the Union
All contracts entered into in the name of the Union shall be executed under the authority of law.
Article 300 – Suits and proceedings
The Union or States may sue or be sued in respect of their property or contracts under existing law.
Article 300A – Right to property
No person shall be deprived of property except by authority of law.