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REVENUE IN INDIA
GROUP 14:VIJAY.A
VIJAY.G
VINUTH.M.N
VIKAS NAG.V
INTRODUCTION
Tax can be defined as the charge levied by the government
of a country upon its habitants for its support or for the
purpose of facilitating the public of that country. It is neither
a voluntary payment by the tax payer nor like a donation.
Rather it is an enforced payment to the government. On
nonpayment of it, the tax payer will be punishable by law.
The purpose of taxes is to create welfare for the society by
providing public services, protection to properties, defense
expenses, economic infrastructure etc.
Findlay Shirras, the well-known authority on economics of
public finance defines taxable revenue as the limit of
squeezability, i.e., the extent to which the people of a
country can be oppressed so as to make it to give money for
the public revenue.
There are four main purposes of taxation which are
revenue (collect a sum of money for government),
redistribution (transfer from rich to poor),
reprising (levied on harmful things e-g; tobacco, carbon),
Tax Revenue:
Tax revenue is influenced by a variety of factors. In the short run,
tax revenue may be less. In the long run, tax revenue of a
country may increase on account of economic growth and rise in
national and per capita income. Again, distribution of income
and wealth also affects taxable revenue. Paradoxically, a high
degree of inequality in the distribution of income and wealth
implies a high index of relative taxable revenue. Tax revenue
also depends on governments spending and functioning also.
If the government is efficient and undertakes successful welfare
programmes, peoples patriotism and democratic attitude are
encouraged so that the taxable revenue will be high, since
people would be ready to sacrifice more and more. Similarly,
sound monetary and fiscal policies of the government when they
lead to economic stabilization and economic development, this
helps to increase in tax revenue of the economy.
1.
AMOUNT, THE LARGER IS THE TAXABLE REVENUE OF THE SOCIETY TO ADD TOWARDS THE
OPERATING COST OF THE MANAGEMENT. FROM THIS POINT OF VIEW INDIA IS WELL PLACED. ITS
TAXABLE REVENUE WILL INFINITELY INCREASE WHEN THE PROPER ECONOMIC DEVELOPMENT OF THE
COUNTRY IS BROUGHT ABOUT.
2.
THE TAXABLE REVENUE WILL BE EQUALLY ABRIDGED. BUT IF THERE ARE BIG ACCRETIONS OF CAPITAL
IN THE MINORITY HANDS, THE MANAGEMENT CAN COLLECT ADDITIONAL MONEY BY LEVYING TAXES
ON THE RICH.
3.
4.
ENCOURAGE INTERESTS OF THE PUBLIC, THEY WILL BE MORE EAGER TO TAXING THEMSELVES.
5.
6.
THERE WILL BE NOT MUCH REVENUE FOR ADDITIONAL TAXATION. THE VAGARIES OF THE
MONSOONS IN INDIA ACCOUNT FOR A LOWER TAXABLE REVENUE. IT IS ONLY ON STABLE
INCOMES THAT LONG-TERM FINANCIAL ARRANGEMENTS CAN BE BASED.
7.
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