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Y 
i Definition of Taxation

i Objective of Taxation

i Importance of Taxation

i Purpose of Taxation

i Scope of Taxation
Definition of tion

 a   
 
It is an system of compulsory contributions levied by a
government or other qualified body on people, corporations
and property in order to fund public expenditures.

 ›
    
› is the study or determination of tax on a person or business
subject to the tax laws of different countries or the
international aspects of an individual country's tax laws.
ectives

i To Increase the effectiveness and productivity of the nation


i To Increase the quantum of revenue collection
i To Improve in services of the government
i To Improve employment at all industry verticals
i To Induct a modern technology in to the system
i To Rationalize terms and condition of the economic system
i To Rationalize of employment terms and conditions
› ortnce/rose

 Taxation can be important for social and economic policy

 The fundamental purpose of taxation is to finance government


expenditure.

 Imposing a tax may potentially increase efficiency if markets fail to price


factors such as pollution or congestion, or the health costs of particular
types of behaviour

 Act as a way to shift some of the wealth from those with much to those
with less.

 To run the state


 
a ›  
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i ·  deduction of profits and gains for ten years is available in respect of
the following:

 Any enterprise carrying on the business of developing, maintaining and


operating infrastructure facilities viz., roads, highways, bridges, airports,
ports, rail systems, industrial towns, inland waterways, water supply
projects, water treatment systems, irrigation projects, sanitation and
sewage projects, solid waste management systems.

 Undertakings engaged in generation or generation and distribution,


transmission or distribution of power

 Any company engaged in scientific and industrial research and


development activities, approved by the prescribed authority

 ·  deduction for seven years for undertakings producing or refining


mineral oil.
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i Raising of funds from individual and organization by the state

i It can be two types:


Direct tax
Indirect tax

i Further, it is sub-divide into major groups like -


Income tax
Wealth tax
Gift tax
Expenditure tax
Interest tax
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