Government and Taxes

Government and Taxes

Learning Objectives

• To understand the role of the government and development policies

• To gain knowledge about tax and its types

• To study how is tax levied

• To gain insight into black money and tax evasion

• To know the difference between the tax and other payments

• To understand the taxes and its development

Introduction

Tax is levied by government for the development of the state’s economy. The revenue of the government depends upon direct and indirect taxes. Direct taxes are levied on income of the persons and the indirect taxes are levied on goods and services by which the government mobilises its “financial resources”.