CONTEMPORARY ISSUES IN TAXATION LAW

AUTHOR – SHAIK RAFIUNNISA, DR.B.R.AMBEDKAR LAW COLLEGE, HYDERABAD

BEST CITATION – SHAIK RAFIUNNISA, CONTEMPORARY ISSUES IN TAXATION LAW, ILE LEX SPECULUM (ILE LS), 1 (1) OF 2023, PG. 319-322, APIS – 3920 – 0036 | ISBN – 978-81-964391-3-2.

Abstract:

Tax payment is mandatory for every citizen of the country.  Taxation is an instrumental tool to picture resources for the government to enable it to formulate policy scheme for the overall development of the economy.  Income tax plays an important roles as a source of revenue and an effective measure of removal of economy disparity.  The object and function of the Union and state Governments are to provide social, welfare amenities to the people of the country.  If they tax upon other Governments, it burdens them and unnecessary time consumption takes place.  To avoid inconvenience, the Doctrine of immunity of instrumentalities functions as a safe guard. 

Key Words: Direct tax, Indirect Tax, funds, immunity of intrumentalities, exemptions, assessment, Revenue, Authorities.