Public Revenue: Main Sources of Revenue, Tax Revenue
by The income of the government through all sources is called public income or public revenue. According to Dalton, however, the term “Public Income” has two …
Category: Management Notes
Management Notes of Various Universities across india
Direct Taxes
Income Tax: Income tax is an important direct tax levied by the central government but the proceeds obtained from it are shared between the centre …
Progressive, Proportional and Regressive Taxes
Proportional Taxes: Taxes in which the rate of tax remains constant, though the tax base changes, are called proportional taxes. Here, the tax base may …
The Division of Tax burden
The burden of the tax can be transferred to others through a process of shifting. It may be noted that the whole burden of the …
Tax effect on Production and Distribution
Tax effect on Production 1. Effects on Ability to work: Taxes reduce disposable income. As such, the buying capacity and consumption expenditure are curtailed. These cause …
Methods of their redemption of Public redemption
Redemption of debt refers to the repayment of a public loan. Although public debt should be paid, debt redemption is desirable too. In order to …
Public Debts: Role and Classification of Public Debts
Modern governments need to borrow from different sources when current revenue falls short of public expenditures. Thus, public debt refers to loans incurred by the …
Finance Commission
The Finance Commission of India came into existence in 1951. It was established under Article 280 of the Indian Constitution by the President of India. …
Financial adjustment in India
1. Tax Sharing: Under this method, the proceeds of certain selected taxes, imposed and realised by the Centre, are apportioned between the Centre and the …
Financial federalism under Constitution
The five main aspects of fiscals federalism are as follows: (1) Division of Functions: The fiscal powers and functional responsibilities in India have been divided …
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