A gender budget is not a separate budget for women. Instead, the gender budgets are an attempt to assess government priorities as they are reflected through the budget...
A progressive tax is imposed to raise the tax rate effectively more than the rate at which it was applied. It is characterised by a more than proportional...
1922: The Income Tax Department was established in the year 1922. The Income Tax Act, 1922 gave a particular classification to different income tax authorities. 1924: The Central...
Indirect taxes include service tax, sales tax, custom, excise duties, VAT, MODVAT, CENVAT, proposed Goods & Services Act etc. Initially the indirect tax regime was too complicated and...
An Appropriation Act in India is an act of Parliament which allows the withdrawal of funds from Consolidated Fund of India or Consolidated Funds of States (in case...
Indian constitution has divided the taxing powers as well as the spending powers (and responsibilities) between the Union and the state governments. The subjects on which Union or...
Goods and Services Tax which might come in effect from April 2016, is a Value Added Tax will replace all indirect taxes levied on goods and services in...
Sin Tax refers to a tax levied on all products and consumer goods known as vices or unhealthy for social growth and consumption of which may cause negative externalities. Sin...
A new service tax regime has come into force. All services, except 38 services in the negative list, will now attract 12% service tax. The government has also...
