What is the significance of entry 85 in the context of corporate taxation?
In the context provided, entry 85 refers to the Corporation tax. It is significant in corporate taxation as it pertains to the imposition of taxes on the income and profits earned by corporations or companies. The text also indicates that there have been several amendments made to this entry, such as the Constitution (Fifteenth Amendment) Act, 1963; the Constitution (Seventh Amendment) Act, 1956; and the Constitution (One Hundred and First Amendment) Act, 2016. These amendments have likely introduced changes to the taxation policy or structure concerning corporations in India.