PRESENTATION ON

PUBLIC REVENUE

PUBLIC FINANCE ASSIGNMENT

SUBMITTED TO : DR VAIBHAV

MADE BY : APON MAJUMDAR

SUDHAKAR KHATRI
TANYA JAISWAL
VERTIKA
 CONTENT
INTRODUCTION OF PUBLIC REVENUE
CLASSIFICATION OF PUBLIC REVENUE
SOURCES OF PUBLIC REVENUE
TAX REVENUE
NON TAX REVENUE
PUBLIC REVENUE

• The income of the government through all the sources is called public income or
public revenue.
According to Dalton, the term public income has two parts: 
1. Public Receipts: Considering public income in wider sense, it includes all the incomes or
receipts which a public authority may secure during any period of time.
2. Public Revenue: Considering public income in narrower sense, it includes only those
sources of income of public authorities, which are ordinarily known as "revenue resources."
SOURCES OF PUBLIC REVENUE

• TAX REVENUE
• NON TAX REVENUE
TAX REVENUE

• Tax Revenue:
• A fund raised through the various taxes is referred to as tax revenue. Taxes are
compulsory contributions imposed by the government on its citizens to meet its general
expenses incurred for the common good, without any corresponding benefits to the tax
payer.
• Seligman defines a tax thus: “A tax is a compulsory contribution from a person to the
government to defray the expenses incurred in the common interest of all, without
reference to specific benefits conferred.
DIRECT TAXES

CORPORATION TAX

CORPORATION TAX IS LEVIED ON PROFITS OF COMPANIES OR ASSOCIATIONS

PERSONAL INCOME TAX

PERSONAL INCOME TAX IS LEVIED ON THE TOTAL INCOME OF INDIVIDUALS AND HINDU UNDIVIDED
FAMILIES (HUFS) FOLLOWING SOME ALLOWABLE DEDUCTIONS
IN INDIA, PERSONAL INCOME TAX IS LEVIED AS A PROGRESSIVE TAX, THAT IS, INDIVIDUALS FALLING IN
HIGHER INCOME BRACKETS ARE SUBJECT TO A HIGHER TAX RATE. THIS ENSURES THE EQUITABLE
DISTRIBUTION OF TAX BURDEN IN THE COUNTRY.

WEALTH TAX
WEALTH TAX IS LEVIED ON THE NET WEALTH OF INDIVIDUALS AND HUFS

TRANSACTION TAX (STT)

SECURITIES TRANSACTION TAX (STT) IS IMPOSED ON THE VALUE OF TRANSACTIONS INVOLVING DELIVERY-
BASED EQUITY

FRINGE BENEFIT TAX

FRINGE BENEFIT TAX IS IMPOSED ON THE EMPLOYER ON THE VALUE OF FRINGE BENEFITS PROVIDED TO
EMPLOYEES FOR THE LATTER’S COLLECTIVE ENJOYMENT.
1.2 INDIRECT TAXES

UNION (OR CENTRAL) EXCISE DUTIES

UNION (OR CENTRAL) EXCISE DUTIES ARE LEVIED BY THE CENTRAL GOVERNMENT ON THE
PRODUCTION OF THE COMMODITIES IN INDIA. IN RECENT YEARS, EXCISE DUTY IS IMPOSED ON A VERY
LARGE NUMBER OF COMMODITIES.

CUSTOM DUTIES
CUSTOMS DUTIES ARE LEVIED ON BOTH IMPORTS AND EXPORTS. IMPORT DUTIES IN INDIA ARE
TYPICALLY LEVIED ON AN AD VALOREM BASIS, THAT IS, AS A PERCENTAGE OF THE PRICE OF THE
COMMODITY.

SERVICE TAX
SERVICE TAX IS LEVIED ON SERVICES PROVIDED TO INDIVIDUALS. SERVICE TAX WAS INTRODUCED IN
INDIA IN 1994–95 TO GENERATE REVENUE FROM THE RAPIDLY GROWING SERVICE SECTOR.