Start learning 50% faster. Sign in now
Horizontal Equity: It is the notion that equally situated individuals should be taxed equally. More specifically, persons of equal income should pay identical amounts in taxes. But it is very difficult to apply the concept in practice. Vertical Equity : This means that unequals should be treated unequally. This concept is also known as ability-to-pay principle. It means the total tax burden will be distributed among individuals according to their capacity to bear it, taking into account all of the relevant personal characteristics.
Comptroller and Auditor General of India (CAG) has been selected as external auditor of the International Labour Organization (ILO), Geneva for the term...
What is the projected average CPI inflation in India for the first three quarters of 2024 - 25?
Which organization has signed an MoU with the Indian Air Force for the integration of futuristic Weapons and Sensors for LCA Tejas aircraft?
The union cabinet has approved and finalized the development of the new Dholera greenfield airport in which of the following states?
Which Indian Constitution article outlines the appointment of the Advocate General for the State?
Consider the following statements about Pong Dam Lake Wildlife Sanctuary:
1. Recently Ministry of Environment declared a one-kilometr...
What additional award did Rachel Gupta receive along with the Miss Grand International 2024 title?
Which Russian bank has provided the facility for individuals to now open accounts in Indian rupees, expanding the range of foreign currencies available ...
What is the size of the loan corpus under the 'Vivad Se Vishwas 2.0' scheme for MSMEs launched in 2024?