Advanced Taxation Concepts: Tax Haven, Pigouvian Tax, Tobin Tax, Transfer Pricing, and More
Introduction Taxes play a crucial role in government revenue, redistribution of wealth, and regulation of…
Advanced Taxation Concepts: Tax Haven, Pigouvian Tax, Tobin Tax, Transfer Pricing, and More
Introduction Taxes play a crucial role in government revenue, redistribution of wealth, and regulation of economic activity. Beyond traditional taxes like income tax, corporate tax, or GST, modern economies employ advanced taxation concepts and mechanisms to address global business practices, environmental concerns, and financial stability. This article explains key terms and concepts including Tax Haven,…
Sources of Revenue in India: Union and State Sources Explained
Introduction Revenue generation is the backbone of government functioning, enabling it to finance developmental activities, welfare schemes, defense, infrastructure, and administrative operations. The Indian Constitution provides a clear framework for revenue collection, ensuring financial autonomy for both the Union (Central) Government and State Governments. Revenue in India is broadly classified into tax revenue and non-tax…
Non-Tax Revenue in India: Concept, Sources, Importance, and Impact
Introduction Revenue generation is a critical function of any government. To finance its expenditures—such as infrastructure development, social welfare schemes, defense, and administrative operations—the government relies on two broad sources of income: tax revenue and non-tax revenue. While tax revenue is collected through compulsory levies on individuals and businesses, non-tax revenue refers to income earned…
General Anti-Avoidance Rule (GAAR) in Indian Economy: Concept, Features, Implementation, and Impact
Introduction Taxation plays a crucial role in the functioning of any economy. It finances government expenditure, enables public welfare, and shapes economic behavior. However, the effectiveness of a tax system is often undermined by tax avoidance and evasion. While tax evasion is illegal and punishable, tax avoidance refers to legal strategies employed by taxpayers to…
Direct Tax Code (DTC): Meaning, Objectives, Provisions and Challenges
Introduction Taxation is one of the most important instruments of governance. It not only finances developmental and welfare expenditure but also reflects the economic philosophy of the State. In India, taxation is broadly divided into direct taxes and indirect taxes. While indirect taxes have undergone major reforms with the introduction of the Goods and Services…
Goods and Services Tax (GST) in India: Concept, Constitutional Provisions, and Implications
Introduction Taxation has always been a cornerstone of governance, as it provides the necessary revenue for the state to carry out developmental, administrative, and welfare activities. India, being a federal country with a unique distribution of powers between the Union and the States, has a complex taxation structure. Until 2017, India had a web of…
Indirect Taxes in India: Meaning, Types, Features, and Detailed Explanation
Introduction Taxation is one of the most important pillars of any nation’s economy, as it provides the government with the financial resources necessary to run the administration, build infrastructure, provide public services, and maintain law and order. Broadly, taxes in India are categorized into Direct Taxes and Indirect Taxes. Indirect taxes have undergone a significant…
Types of Direct Taxes in India
Introduction Taxation is the backbone of any nation’s financial system. It ensures the availability of resources for public expenditure and supports the overall economic framework of a country. In India, the taxation system is broadly divided into direct taxes and indirect taxes. While indirect taxes are levied on goods and services, direct taxes are imposed…
Types of Tax in India: A Comprehensive Analysis
Introduction Taxation is the backbone of any government’s revenue system. In India, taxes are the primary source of funding for development projects, welfare schemes, administration, and defense. The Indian tax system has evolved significantly since independence, moving from a complex web of colonial-era levies to a more structured and technology-driven framework today. Broadly, taxes in…
Public Finance, Public Revenue, and Tax Revenue: A Comprehensive Study
Introduction Economics is not only about markets and private enterprises; it is equally about the role of the government in mobilizing resources, spending them effectively, and influencing the economic structure of a nation. This role of the government is understood through Public Finance. Within public finance, two core concepts stand out—Public Revenue and Tax Revenue….
