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The Income Tax Department Karnataka & Goa is the revenue enforcement and collection agency for the state of Karnataka and Goa, India. It has its headquarters in Bangalore , the state capital. The Direct Taxes Regional Training Institute was built in Bangalore at Jalahalli.
The tax policy is not limited to raising of revenue. As a part of the overall policy of the Government of India, the tax policy also serves as a tool to address several other objectives in the process of development of the country. These objectives may include providing for incentives and disincentives in the target areas/segments of the economy.
The tax is imposed based on the Entry 52 of the State List from the Schedule VII of the Constitution of India which reads; "Taxes on the entry of goods into a local area for consumption, use or sale therein." [24] The tax is to be paid by the trader to the civic bodies and the rules and regulations of these vary amongst different States in ...
Profession tax is the tax levied and collected by the state governments in India. It is a direct tax. A person earning an income from salary or anyone practicing a profession such as chartered accountant, company secretary, cost accountant, Software Engineer, lawyer, doctor etc. are required to pay this professional tax.
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]
Bengaluru, the capital city of the South Indian state of Karnataka, India. The economy of Bengaluru contributes over 43.65% to the economy of the State [1] of Karnataka, accounting for 98% of the Software Exports of the State. The estimated Metro GDP of the city is around US$300 billion, with a Metro GDP Per Capita of roughly US$25,461 in 2021
Hubli-Dharwad is the second largest city, in terms of area and population, in Karnataka. It is one of the 49 Metropolitan clusters selected by McKinsey & Company as growth hotspots in India. [1] It is the 2nd highest in Karnataka and 22nd for India in terms of bank deposits or income-tax. [2] It is the nerve center for North Karnataka region.
Uppinangady is also passed by the national highway that runs between Mangalore and Bangalore. Due to all of these factors, Uppinangady is a thriving business centre. Uppinangadi Gram Panchayat's own grant includes not only house tax but also income from business license of around 700 shops in the town and rent of panchayat buildings.