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Fourth Finance Commission
The Fourth Finance Commission of India was constituted on 18 May 1964, under the chairmanship of Dr. P. V. Rajamannar. Members The members of the Commission were: * Dr. P. V. Rajamannar, Chairman * Shri Mohan Lal Gautam * Shri D.G. Karve * Prof. Bhabatosh Datta * Shri P.C. Mathew, Member Secretary The Commission suggested in its report that there should be greater co-ordination between the Centre and the States in common financial interests for which it recommended the establishment of a permanent organization in the Ministry of Finance. Recommendations * Tax sharing and allocation of income tax and Union Excise Duties. * Grants-in–aid to States in need of assistance, having regard to: # The revenue resources of States for five years ending with 1970-1971 on the basis of the levels of taxation likely to be reached at the end of 1965-66; # Creation of a fund out of Estate Duty proceeds over a specified limit, for repayment of State’s debt to the centre; and # Scope fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mohan Lal Gautam
Mohan may refer to: People * Mohan Shumsher JBR, Former prime minister of Nepal * Mohan (actor) (born 1956), Indian film actor * Mohan (director), Indian director of Malayalam films * Mohan (name), a name generally found among Hindus * Mohan (clan), a clan of the Mohyal caste in India Places Inhabited places * Mohan, Uttar Pradesh, town and nagar panchayat Uttar Pradesh, India * Mohan, Yunnan, a town in China * Ambheta Mohan, a village in Uttar Pradesh, India * Braja Mohan, a village in the Barisal Division, Bangladesh * Mohan Majra, a village in Punjab, India Other places * Mohan Pass, Siwalik Hills in Sikkim * Mohan (Vidhan Sabha constituency) An Assembly constituency) in Uttar Pradesh, India * Mohan Nagar metro station * Mohan Estate metro station Other uses * ''Melaleuca viminea'', a shrub or tree from Western Australia with the common name Mohan * ''Mohan'' (1947 film), a 1947 Indian Hindi film directed by Anadinath Bannerjee * Mohan (legendary), a name applied to s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bhabatosh Datta
Bhabatosh Datta (21 February 1911 – 11 January 1997) was a noted Indian economist, academic and writer. He taught at Chittagong College and later became Professor of Economics, Presidency College, Kolkata, where he later Emeritus Professor. In 1990, he was awarded the Padma Vibhushan, the second highest civilian award, by Government of India. Early life and background Datta was born in Patna, Bihar to Hemendra Kishore Datta and Jogmaya Datta. At the time, his father was a professor of Chemistry at Bihar National College, Patna. Thereafter, he did his schooling at various places, including Daulatpur in Khulna district, Mymensingh followed by Dhaka, now in Bangladesh. At his Dhaka school, he edited the school magazine along with fellow student Buddhadeb Bose, who went on to become a noted poet. He completed his schooling from Jagannath College Dhaka, and went on to earn B.A. (Hons.) in Economics and Political Science and M.A. Economics from Presidency College, Kolkata. Caree ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ministry Of Finance (India)
The Ministry of Finance (IAST: ''Vitta Maṃtrālaya'') is a ministry within the Government of India concerned with the economy of India, serving as the Treasury of India. In particular, it concerns itself with taxation, financial legislation, financial institutions, capital markets, centre and state finances, and the Union Budget. The Ministry of Finance is the apex controlling authority of ''four'' central civil services namely Indian Revenue Service, Indian Audit and Accounts Service, Indian Economic Service and Indian Civil Accounts Service. It is also the apex controlling authority of one of the central commerce services namely Indian Cost and Management Accounts Service History R. K. Shanmukham Chetty was the first Finance Minister of independent India. He presented the first budget of independent India on 26 November 1947. Department of Economic Affairs The Department of Economic Affairs is the nodal agency of the Union Government to formulate and monitor country's ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income Tax
An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable income. Taxation rates may vary by type or characteristics of the taxpayer and the type of income. The tax rate may increase as taxable income increases (referred to as graduated or progressive tax rates). The tax imposed on companies is usually known as corporate tax and is commonly levied at a flat rate. Individual income is often taxed at progressive rates where the tax rate applied to each additional unit of income increases (e.g., the first $10,000 of income taxed at 0%, the next $10,000 taxed at 1%, etc.). Most jurisdictions exempt local charitable organizations from tax. Income from investments may be taxed at different (generally lower) rates than other types of income. Credits of various sorts may be allowed that reduce tax. Some jurisdicti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Excise Duties
file:Lincoln Beer Stamp 1871.JPG, upright=1.2, 1871 U.S. Revenue stamp for 1/6 barrel of beer. Brewers would receive the stamp sheets, cut them into individual stamps, cancel them, and paste them over the Bunghole, bung of the beer barrel so when the barrel was tapped it would destroy the stamp. An excise, or excise tax, is any duty (economics), duty on manufactured goods (economics), goods that is levied at the moment of manufacture rather than at sale. Excises are often associated with customs duties, which are levied on pre-existing goods when they cross a designated border in a specific direction; customs are levied on goods that become taxable items at the ''border'', while excise is levied on goods that came into existence ''inland''. An excise is considered an indirect tax, meaning that the producer or seller who pays the levy to the government is expected to try to recover their loss by raising the price paid by the eventual buyer of the goods. Excises are typically impos ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State Governments Of India
State governments in India are the governments ruling over 28 states and 8 union territories of India and the head of the Council of Ministers in a state is the Chief Minister. Power is divided between the Union government and state governments. While the Union government handles defence, external affairs etc., the state government deals with internal security and other state issues. Income for the Union government is from customs duty, excise tax, income tax etc., while state government income comes from sales tax (VAT), stamp duty etc.; now these have been subsumed under the various components of the Goods and Services Tax Each state has a legislative assembly. A state legislature that has one house - State Legislative Assembly (Vidhan Sabha) - is a unicameral legislature. A state legislature that has two houses - the State Legislative assembly and State Legislative Council (Vidhan Parishad) - is a bicameral legislature. The Vidhan Sabha is the lower house and corresp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Estate Duty
An inheritance tax is a tax paid by a person who inherits money or property of a person who has died, whereas an estate tax is a levy on the estate (money and property) of a person who has died. International tax law distinguishes between an estate tax and an inheritance tax—an estate tax is assessed on the assets of the deceased, while an inheritance tax is assessed on the legacies received by the estate's beneficiaries. However, this distinction is not always observed; for example, the UK's "inheritance tax" is a tax on the assets of the deceased, and strictly speaking is therefore an estate tax. For historical reasons, the term death duty is still used colloquially (though not legally) in the UK and some Commonwealth countries. For political, statutory and other reasons, the term death tax is sometimes used to refer to estate tax in the United States. Varieties of inheritance and estate taxes * Belgium, droits de succession or erfbelasting (Inheritance tax). Collected at t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sales Tax
A sales tax is a tax paid to a governing body for the sales of certain goods and services. Usually laws allow the seller to collect funds for the tax from the consumer at the point of purchase. When a tax on goods or services is paid to a governing body directly by a consumer, it is usually called a use tax. Often laws provide for the exemption of certain goods or services from sales and use tax, such as food, education, and medicines. A value-added tax (VAT) collected on goods and services is related to a sales tax. See Comparison with sales tax for key differences. Types Conventional or retail sales tax is levied on the sale of a good to its final end-user and is charged every time that item is sold retail. Sales to businesses that later resell the goods are not charged the tax. A purchaser who is not an end-user is usually issued a "resale certificate" by the taxing authority and required to provide the certificate (or its ID number) to a seller at the point of purchase, al ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cotton
Cotton is a soft, fluffy staple fiber that grows in a boll, or protective case, around the seeds of the cotton plants of the genus ''Gossypium'' in the mallow family Malvaceae. The fiber is almost pure cellulose, and can contain minor percentages of waxes, fats, pectins, and water. Under natural conditions, the cotton bolls will increase the dispersal of the seeds. The plant is a shrub native to tropical and subtropical regions around the world, including the Americas, Africa, Egypt and India. The greatest diversity of wild cotton species is found in Mexico, followed by Australia and Africa. Cotton was independently domesticated in the Old and New Worlds. The fiber is most often spun into yarn or thread and used to make a soft, breathable, and durable textile. The use of cotton for fabric is known to date to prehistoric times; fragments of cotton fabric dated to the fifth millennium BC have been found in the Indus Valley civilization, as well as fabric remnants dated back ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Silk
Silk is a natural protein fiber, some forms of which can be woven into textiles. The protein fiber of silk is composed mainly of fibroin and is produced by certain insect larvae to form cocoons. The best-known silk is obtained from the cocoons of the larvae of the mulberry silkworm ''Bombyx mori'' reared in captivity (sericulture). The shimmering appearance of silk is due to the triangular prism-like structure of the silk fibre, which allows silk cloth to refract incoming light at different angles, thus producing different colors. Silk is produced by several insects; but, generally, only the silk of moth caterpillars has been used for textile manufacturing. There has been some research into other types of silk, which differ at the molecular level. Silk is mainly produced by the larvae of insects undergoing complete metamorphosis, but some insects, such as webspinners and raspy crickets, produce silk throughout their lives. Silk production also occurs in hymenoptera ( bee ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Woolen
Woolen (American English) or woollen (Commonwealth English) is a type of yarn made from carded wool. Woolen yarn is soft, light, stretchy, and full of air. It is thus a good insulator, and makes a good knitting yarn. Woolen yarn is in contrast to worsted yarn, in which the fibers are combed to lie parallel rather than carded, producing a hard, strong yarn.Burnham (1980), p. 191 Commercial manufacture The woolen and worsted process both require that the wool (and other similar animal fibres, cashmere, camel, etc.) be cleaned before mechanical processing. Woolen and worsted nomenclatures apply only to the textile processing of animal fibres, but it has become common to include fibre blends under these terms. The resultant fabrics will be classified as being either woolen or worsted, but this designation is assigned during fiber processing and yarn formation, not in the cloth or finished garment. A woven woolen fabric is one which is subjected to fabric finishing techniques de ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sugar
Sugar is the generic name for sweet-tasting, soluble carbohydrates, many of which are used in food. Simple sugars, also called monosaccharides, include glucose, fructose, and galactose. Compound sugars, also called disaccharides or double sugars, are molecules made of two bonded monosaccharides; common examples are sucrose (glucose + fructose), lactose (glucose + galactose), and maltose (two molecules of glucose). White sugar is a refined form of sucrose. In the body, compound sugars are hydrolysed into simple sugars. Longer chains of monosaccharides (>2) are not regarded as sugars, and are called oligosaccharides or polysaccharides. Starch is a glucose polymer found in plants, the most abundant source of energy in human food. Some other chemical substances, such as glycerol and sugar alcohols, may have a sweet taste, but are not classified as sugar. Sugars are found in the tissues of most plants. Honey and fruits are abundant natural sources of simple sugars. Suc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
