Meaning and definition of tax pdf

Posted on Sunday, May 30, 2021 1:35:11 PM Posted by Lisa C. - 30.05.2021 and pdf, edition pdf 3 Comments

meaning and definition of tax pdf

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Taxation laws that define assessment. Taxation law.

Tax is a compulsory payment to be made by every resident of India. Government decided the rates and the items on which tax will be charged, like income tax, GST, etc. In the case of the State Governments, the State Legislature holds this power. The taxation system in India traces its roots to ancient texts like Manusmriti and Arthashastra. As prescribed by these texts, artisans, farmers, and traders hundreds of years ago would pay taxes in the form of silver, gold and agricultural produces.

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Reviewed by Vishnu Updated on Feb 19, Taxation is the means by which a government or the taxing authority imposes or levies a tax on its citizens and business entities. From income tax to goods and services tax GST , taxation applies to all levels. The Central and State government plays a significant role in determining the taxes in India. To streamline the process of taxation and ensure transparency in the country, the state and central governments have undertaken various policy reforms over the last few years.

Taxation , imposition of compulsory levies on individuals or entities by governments. Taxes are levied in almost every country of the world, primarily to raise revenue for government expenditures, although they serve other purposes as well. This article is concerned with taxation in general, its principles, its objectives, and its effects; specifically, the article discusses the nature and purposes of taxation, whether taxes should be classified as direct or indirect, the history of taxation, canons and criteria of taxation, and economic effects of taxation, including shifting and incidence identifying who bears the ultimate burden of taxes when that burden is passed from the person or entity deemed legally responsible for it to another. In addition, see international trade for information on tariffs. In modern economies taxes are the most important source of governmental revenue. Taxes differ from other sources of revenue in that they are compulsory levies and are unrequited—i. There are, however, important exceptions: payroll taxes , for example, are commonly levied on labour income in order to finance retirement benefits, medical payments, and other social security programs—all of which are likely to benefit the taxpayer.

A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer an individual or legal entity by a governmental organization in order to fund government spending and various public expenditures. Taxes consist of direct or indirect taxes and may be paid in money or as its labour equivalent. The first known taxation took place in Ancient Egypt around — BC. Most countries have a tax system in place to pay for public, common, or agreed national needs and government functions. Some levy a flat percentage rate of taxation on personal annual income, but most scale taxes based on annual income amounts. Most countries charge a tax on an individual's income as well as on corporate income. Countries or subunits often also impose wealth taxes , inheritance taxes , estate taxes , gift taxes , property taxes , sales taxes , payroll taxes or tariffs.

The virtual permanent establishment virtual PE was first proposed to tackle growing concerns that multinationals could artificially avoid PE status by rendering cross border supplies of goods and services through electronic means. The virtual PE concept therefore sought to link taxation with value creation: in most cases, this involved the application of source taxation to non-resident entities that had no physical presence in the source state. With increasing digitalization, the virtual PE concept has become crucial to addressing tax avoidance and base erosion, particularly by multinational enterprises and cross border suppliers of goods and services. This article traces the evolution and treatment of the virtual PE concept under Indian law against the background of the broad framework prescribed under international and comparative tax law. Based on an analysis of Indian judicial precedents on the topic, the authors believe that Indian courts have progressively watered down the requirements necessary to trigger the existence of a PE. Although the lowering of thresholds is in the context of digital businesses where the courts have sought to tax income in India through any tangible or physical nexus, the lower thresholds could arguably be applied in other situations.


Compulsory social security contributions, as defined in paragraph 36, paid to general government are treated as tax revenues. Being compulsory.


Tax is a compulsory payment to be made by every resident of India. Government decided the rates and the items on which tax will be charged, like income tax, GST, etc. In the case of the State Governments, the State Legislature holds this power. The taxation system in India traces its roots to ancient texts like Manusmriti and Arthashastra. As prescribed by these texts, artisans, farmers, and traders hundreds of years ago would pay taxes in the form of silver, gold and agricultural produces.

Энсея Танкадо отдали в приемную семью. Каждую ночь юный Танкадо смотрел на свои скрюченные пальцы, вцепившиеся в куклу Дарума note 1и клялся, что отомстит - отомстит стране, которая лишила его матери, а отца заставила бросить его на произвол судьбы. Не знал он только одного - что в его планы вмешается судьба. В феврале того года, когда Энсею исполнилось двенадцать, его приемным родителям позвонили из токийской фирмы, производящей компьютеры, и предложили их сыну-калеке принять участие в испытаниях новой клавиатуры, которую фирма сконструировала для детей с физическими недостатками.

 Ничего серьезного, - ответила Сьюзан, хотя вовсе не была в этом уверена. Следопыт задерживается. Она подумала, не ошиблась ли где-то.

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