Income Tax Is not one Tax but an Aggregation Of Taxes Tax is a fee charge by the Govt. on any product income or activity. Taxes in India are of two types‚ Direct Tax and Indirect Tax. Direct Tax‚ like income tax‚ wealth tax‚ etc. are those whose burden falls directly on the taxpayer. The burden of indirect taxes‚ like service tax‚ VAT‚ etc. can be passed on to a third party. Income Tax is all income other than agricultural income levied and collected by the central government and shared
Premium Tax Income tax Taxation
The debate of states’ rights versus federal supremacy is one that affects America today and has since the country was founded. It started with the writing of the Constitution in 1787 and the formation of Federalists and Anti-Federalists‚ who had opposing views on the document. The two major arguments were that a strong central government would eventually become tyrannical‚ and that a strong central government was needed for the nation to move forward. Years of conflict between the two sides occurred
Premium United States United States Constitution President of the United States
John Doe J. Doe American Government May 10‚ 2011 Unitary vs. Federal Government Our Founding Fathers had viewed centralized power as a threat to their rights and liberties. They had been under the Unitarian constraints of British authority. Dividing power between the three levels of government‚ federalism‚ was one of the solutions to this problem. Our founding fathers also recognized the potential danger for conflict between the three levels of government‚ so they instituted several ways to
Premium Federal government of the United States United States Constitution Separation of powers
ICWAI Objective Type questions and Answers on Indirect Tax 1. Multiple Choice Questions (1) Excise duty can be levied on those goods which are a) Manufactured in India b) Sold in India a) Removed from the factory b) None of the above (2) Dutiable goods means a) Goods are subject to Central Excise duty b) Goods which are exempted from excise duty c) Non excisable goods d) Goods not at all mentioned in the Central Excise Tariff (3) Place of Removal under Central Excise means
Premium Tax Indirect tax Taxation in the United States
In the United States of America‚ the federal and state governments should share some power‚ while completely controlling others. Certain responsibilities have acquired traits that can only be provided for by the federal government‚ such as a national defense system. To run and maintain a standing military it takes an incredible amount of resources and manpower‚ as well as high-levels of leadership. However‚ there are other areas of policy that the states should control. The process of judicial
Premium United States Federal government of the United States Prison
The Proposed Soda Tax: The Poor and Middle Class Pay the Price Why must the poor and middle class suffer whenever money is needed to fund some programs or fix the deficit? People are stripped to the bone already‚ what with the Enron scandal and Bernie Madoff making off with millions of citizens savings. Now the poor and middle class people of this great nation are being called upon once again‚ to give more of the nothing that they already don’t have for a Soda Tax. A tax that health officials
Premium Nutrition Middle class Obesity
Running head: FEDERAL LAW ON HOMICIDE Federal Law on Homicide J Writing Assignment CJ 123 Criminal Law Federal Law on Homicide The first recorded murder‚ trail and hanging took place in 1630. John Billington was one of the original pilgrims to sail on the Mayflower to the New world from England and also was the first person in America to be charged and hanged for murder after shooting long time enemy John Newcomen after a fight (Johnson‚ 1994). Although murder has many different forms
Premium Murder Manslaughter
True/false #1 Any distribution in excess of E & P is treated as a tax-free recovery of capital by shareholders. ANS: F Distributions in excess of E & P are a tax-free recovery of capital to the extent of stock basis. Distributions in excess of basis trigger recognition of capital gain. #21 A corporation that distributes a property dividend must reduce its E & P by the fair market value of the property less any liability on the property. ANS: F E & P must be reduced by the greater of the adjusted
Free Tax Taxation Income tax in the United States
CARBON TAX ON TOURISM CARBON TAX The tax levied on the carbon content of fuels is known as the carbon tax. Carbon tax is a type of carbon pricing. Fuels like coal‚ petroleum and natural gas release carbon dioxide (CO2) when they are burnt. This tax has been introduced to reduce the greenhouse gas emissions. These taxes can be regressive tax‚ in which they may affect low income groups directly or indirectly. This regressive impact on carbon taxes can be addressed by using the tax revenues to
Premium Kyoto Protocol Emissions trading Carbon tax
Pertuan Agong as the head of the country. Under the constitution‚ Malaysia as a federation is ruled as a Constitutional Monarchy with the appointment of the Yang di-Pertuan Agong (King or Supreme Sovereign) as the head of the country. The federal Constitution of Malaysia divides the authority of the federation into its Executive‚ Legislative‚ and Judiciary authority. The Yang Di-Pertuan Agong The election of Yang Di-Pertuan Agong The Yang Di-Pertuan Agong is appointed once in every
Free Malaysia United States Constitution Yang di-Pertuan Agong