Finance articles section focuses on various concepts of finance like budget, stock market and economics of various products & services. Apart from these articles on global financial institutions, different banking systems and topics of international importance in the field of finance are present. |
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Indian Tax System- For Betterment of the Nation August 05, 2015“Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.” - Ronald Reagan Indian tax system is a diversified system with numerous types of taxes. Tax is a compulsory levy by the Government on the consumption of goods and services as well as on income that we earn. It is the payment that we make to the Government which it utilizes to provide us basic facilities such as defense, telecommunication, infrastructure etc. and for the betterment of the society and nation at large. The Indian Taxonomy is bifurcated into two types of taxes namely Direct Tax and Indirect Tax. Direct tax includes personal Income Tax, Wealth tax, Gift tax etc. where the incidence of tax lies on the taxpayer and it cannot be shifted whereas indirect tax includes Service tax, Excise, Customs Duty, VAT etc where the incidence of tax can be shifted. More...
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