Article 9 - Finance and Revenue

Section 1: There shall be one Comptroller and Auditor-General (CAG) of Bharat, who shall be an autonomous body.

Section 2: The CAG shall not be eligible for further office either under the Government of Bharat or under any other subordinate government after he has ceased to hold his office.

Section 3: Duty of CAG of Bharat shall be to prescribe the guidelines under which all accounts to be maintained. It shall be his duty to ensure that all records are maintained according to guidelines issued by him.

Section 4: It shall be duty of CAG to Audit the record of all government agencies and the reports of the CAG of Bharat relating to the accounts of the various hierarchy of government shall be submitted to the Executive Head of the respective government, who shall cause them to be laid before each House of respective legislature.

Section 5: The Legislature may exempt from ad valorem taxation tangible personal property that is held or used for the production of income and has a taxable value of less than the minimum amount sufficient to recover the costs of the administration of the taxes on the property, as determined by or under the general law granting the exemption.

Section 6: The Legislature by general law shall exempt from ad valorem taxation household goods not held or used for the production of income and personal effects not held or used for the production of income. But government shall put tax on luxurious items. The Union legislature shall decide by law which item can be termed as luxury.

Section 7: House couldn't be given on rent without prior approval of local government. A twenty percent tax of rent shall be paid to local government on the rent against which local government shall be responsible for recovering the rent and vacating the rented property according to condition laid down in agreement.

Section 8: Real and tangible personal property, unless exempted as required or permitted by this Constitution, whether owned by natural persons or corporations, other than municipal, shall be taxed in proportion to its value, which shall be ascertained as may be provided by law.

Section 9: The Legislature may provide for the taxation on intangible property and may also impose occupation taxes, both upon natural persons and upon corporations, other than municipals, doing any business, Persons engaged in agricultural pursuits shall never be required to pay an occupation tax.

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