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In India states earn revenue through own taxes, central taxes, non-taxes and central grants. [1] For most states, own taxes form the largest part of the total state revenue. [1] Taxes as per the state list includes land revenue, taxes on agricultural income, electricity duty, luxury tax, entertainment tax and stamp duty. [2]
India is a federal constitutional republic governed under a parliamentary system consisting of 28 states and 8 union territories. [1] All states, as well as the union territories of Jammu and Kashmir, Puducherry and the National Capital Territory of Delhi, have elected legislatures and governments, both patterned on the Westminster model. The ...
The Income Tax Department is the central government's largest revenue generator; total tax revenue increased from ₹ 1,392.26 billion (US$16 billion) in 1997–98 to ₹ 5,889.09 billion (US$68 billion) in 2007–08. [3] [4] In 2018–19, direct tax collections reported by the CBDT were about ₹ 11.17 lakh crore (₹11.17 trillion). [5]
The tax is usually accompanied by a number of service taxes, e.g., water tax, drainage tax, conservancy (sanitation) tax, lighting tax, all using the same tax base. The rate structure is flat on rural (panchayat) properties, but in the urban (municipal) areas it is mildly progressive with about 80% of assessments falling in the first two slabs.
India is a union consisting of 28 states and 8 union territories. [1] As of 2024, with an estimated population of 1.484 billion, India is the world's most populous country. India occupies 2.4% of the world's area and is home to 17.5% of the world's population. [2]
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The local governments are empowered by the state government to levy property tax and charge users for public utilities like water supply, sewage etc. [52] More than half of the revenues of the union and state governments come from taxes, of which 3/4 come from direct taxes. More than a quarter of the union government's tax revenues are shared ...
10. Richmond, Virginia. Google searches per 100,000 residents: 2,790. Median household income (2022): $59,606 Explore More: 4 Ways To Find Tax Deductions That Work For You in 2024 Trending Now ...
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