Taxation in India

Taxes

Taxes are levied by governments on their citizens to generate income for undertaking projects to boost the economy of the country and to raise the standard of living of its citizens.

Authority in India: The authority of the government to levy tax in India is derived from the Constitution of India, which allocates the power to levy taxes to the Central and State governments.

All taxes levied within India need to be backed by an accompanying law passed by the Parliament or the State Legislature.

Types of Taxes

Taxes are of two distinct types, direct and indirect ....

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Indian Economy