Taxation

The notion of taxation began during the ancient period in India. But before showering the light on taxation, we should know the meaning & definition of tax. The term tax originated from "taxation" which means "estimate".

Existence of Arthashastra in ancient India written by Kautilya prove the relevance & significance of it During the Mughal era, Akabar's one of the ninth jewels, Todar Mal, was dealing all revenue & tax & later on Aurangzeb imposed tax on his subject in the form of "Jazia".

In modern India, after the coming of Britishers, they construct an act for tax in 1860 & implemented it. Slowly & gradually, subject came to know the exact meaning of tax & taxation.

Tax is basically a fee, given by individuals or businesses either to central government or state government & the process for implementation of any sort of tax on individuals or businesses is known as taxation.

India, there are many criteria on the basis of which government imposes taxes & these are as follows: -