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Introduction to Tax Long Questions Ques1: What is a Tax? Explain various canons of taxation Ans Meaning of Tac India is a socialist democratic and republe country where main objective of government is welfare of the public order to carry out various welfare activities for the public government needs revenue. Though there are many sources of revenue for government but tax is a major source The word Tor is derived from the Latin word word which mean to estimate or find the value Tax is a compulsory payment levied on individuals or corporations enforced by a government entity, whether local, regional or national in order to finance government activities without any direct benefit attached to it Features of a The following are the main features of texas 1. It is a compulsory contribution. It only means that no one can refuse to pay a tax in care a person on whom aris levied refuses to make payment, he can be punished as per the provisions of the low 2. It is generally payable in money. In earlier times kings used to collect the tax in form of share of produan, but now days almost all taxes are paid in form of money 3 Tax payment is a personal obligation it does not mean that all taxes are levied on persons only, rather some tres are levied on goods or property, but it is primary obligation of person to pay the te 4 Taxis levied as per the authority given to government by the law or statue is levied on persons and property when the jurisdiction of the government Government cannot impose any tax which is not as per provisions of the constitution The amount of tax does not depend upon the exact benefit which a taxpayer received from government in other words, there is no element of qud-pro-quo in the payment of to "ACADEMY OF COMMERCE & Government spends the tax money for the general or common benefit of the public. It is levied for public purpose 7. Mematy tax is proportionate in character and based on the ability to pay Tot is required to be paid at regular vas as per the provisions of the law Canongation The food are the various kinds of canons of taxations as 1. Cason of Equity According to the pile of equity, every person should pay tax depending upon his ability to pay. The rich class people would pay the taxes as they have more ability to pay tax and they also use more public infrastructure for Carol Centent The meal payment metament, the quantity to be paid ought all to be clear and plain to the contributors her person that the tax payer should now in advance how much tax he is liable to pay and Introduction to Tax Long Questions Ques1: What is a Tax? Explain various canons of taxation Ans Meaning of Tac India is a socialist democratic and republe country where main objective of government is welfare of the public order to carry out various welfare activities for the public government needs revenue. Though there are many sources of revenue for government but tax is a major source The word Tor is derived from the Latin word word which mean to estimate or find the value Tax is a compulsory payment levied on individuals or corporations enforced by a government entity, whether local, regional or national in order to finance government activities without any direct benefit attached to it Features of a The following are the main features of texas 1. It is a compulsory contribution. It only means that no one can refuse to pay a tax in care a person on whom aris levied refuses to make payment, he can be punished as per the provisions of the low 2. It is generally payable in money. In earlier times kings used to collect the tax in form of share of produan, but now days almost all taxes are paid in form of money 3 Tax payment is a personal obligation it does not mean that all taxes are levied on persons only, rather some tres are levied on goods or property, but it is primary obligation of person to pay the te 4 Taxis levied as per the authority given to government by the law or statue is levied on persons and property when the jurisdiction of the government Government cannot impose any tax which is not as per provisions of the constitution The amount of tax does not depend upon the exact benefit which a taxpayer received from government in other words, there is no element of qud-pro-quo in the payment of to "ACADEMY OF COMMERCE & Government spends the tax money for the general or common benefit of the public. It is levied for public purpose 7. Mematy tax is proportionate in character and based on the ability to pay Tot is required to be paid at regular vas as per the provisions of the law Canongation The food are the various kinds of canons of taxations as 1. Cason of Equity According to the pile of equity, every person should pay tax depending upon his ability to pay. The rich class people would pay the taxes as they have more ability to pay tax and they also use more public infrastructure for Carol Centent The meal payment metament, the quantity to be paid ought all to be clear and plain to the contributors her person that the tax payer should now in advance how much tax he is liable to pay and