nTAXATION IN GENERAL * Taxes have been defined by an eminent authority as “the enforced proportional contributions from persons and property, levied by the state by virtue of its sovereignty for the support of government and for all public needs. * Taxation is a mode of raising revenue for public purposes. Limitations on the power to tax (a) Inherent Limitations 1. The levy must be for a public purpose; 2. Non-delegation in general of the power to tax – except in matters referring
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Definition of Tax : The term Taxation or Tax is comes from Latin word "Taxatio" which means "Payable Quantam an Estimate". Tax is a compulsory levy upon a person. According to Taylor, taxes are the compulsory payments to the Govt. without expectation of direct benefit to the tax payer. So we can Say that, tax is an amount of money that compulsory pay to the Govt. It is the expense of the assesses. On the other hand it is the revenue of the Govt.In every country about 80% of total Govt. revenue
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Accounting and Finance for Managers LESSON 7 FUND FLOW STATEMENT ANALYSIS CONTENTS 7.0 7.1 Aims and Objectives Introduction Meaning & Objectives of Fund Flow Statement Analysis Methods of Preparing Fund Flow Statement 7.3.1 Schedule of Changes in Working Capital 7.3.2 Net Profit Method 7.3.3 Sales
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Kelly | McGowen | Williams C en ga Australia • Brazil • Japan • Korea • Mexico • Singapore • Spain • United Kingdom • United States ge Le ar ni ng BUSN BUSN BUSN 6, 6th Edition Kelly | McGowen | Williams © 2014 Cengage Learning. All rights reserved. Senior Project Development Manager: Linda deStefano Market Development Manager: Heather Kramer Senior Production/Manufacturing Manager: Donna M. Brown Production Editorial Manager: Kim Fry Sr. Rights Acquisition
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