CHAPTER 1: INTRODUCTION 1.1: TAXATION Oliver Wendell Holmes, Jr. said: “Taxes are the price we pay for civilization. More specifically, taxes are the price we pay for the Canada we love. This means that for a country to attain civilization, there must be tax rules in place”. “Cooley defines taxation as the process or means by which the sovereign, through its law-making body, raises income to defray the necessary expenses of government. Expressed in another way, it is a method of apportioning the
in the public eye for several years after his release in 1924, until in 1930 when the British introduced a tax on salt. Because of the taxation of salt, Gandhi began a campaign to illegally create salt by going to the sea which was 250 miles in distance, which was also known as the salt march. This march was an extremely important role for the independence of India as it started the nationwide Civil Disobedience Movement. This one movement crippled the British economy as salt was used by everyone
This paper is about the PESTLE analysis of India. This is an analysis managers carry out before considering entry into a country, they look at various factors and how it will impact their businesses, and this analysis also helps them make strategic decisions. INDIA India is one of the oldest civilizations in the world with vast cultural heritage. It has achieved all-round socio-economic progress during the last 67 years of her Independence. India has become self-sufficient in agricultural production
An increase in business means increased demand for manpower. In International Business, Expatriate’s may play a very important role in establishing the business in a new market. However , in order to ensure the continuity of a successful business, local managers are crucial. Therefore, to understand the management of people from different cultural backgrounds and to align the
Trends in Centre-State Relations Till 1967, the centre-state relations by and large were smooth due to one-party rule at the Centre and in most of the states. In 1967 elections, the Congress Party was defeated in nine states and its position at the Centre became weak. This changed political scenario heralded a new era in the Centre-state relations. The non-Congress Governments in the states opposed the increasing centralization and intervention of the Central government. They raised the issue of
Impact of National Income on Saving and Capital Formation in India Dr.M. Moni Asst. Professor of Economics, N.M. Christian College, Marthandam, Tamil Nadu, monileomoni@gmail.com Abstract The study of national income estimate provides a vivid picture of the entire economy of a country. It enables to know the economic condition of the nation, per capita income and the standard of the people. National income includes the aggregates income of all the people in a country over a period of
started in the year 1986 with the introduction of the Modified value added tax (MODVAT). The present paper highlights the impact of GST on FMCG products and also on automobile sector in India. In this study it is found that GST has significant impact on FMCG products and has a positive impact on the prices of cars in India expect the hybrid cars ,this would positively affect the car buying decisions of the
in the Companies Act, 2013 providing a good base to cross border merger and amalgamations. Section 234 of Companies Act, 2013 mentions that the scheme of mergers and amalgamation can be applied between a company incorporated in India and a company incorporated outside India in the jurisdictions permissible by the Central Government. Thus, when there is a situation, when the Indian company has
Automotive Market via joint venture with Mahindra and Mahindra. In alignment of the strategic direction of Ford Motors Company in the 1990s (Johnson, Surganum 2011), the priority was to maximize profits through the investment in foreign markets. India was the ideal market for Ford to venture in due to the recent relaxed economic policies and the abundance of low cost labor force in the market (Kulkarni, Jenamani, 2008). As the above mentioned, Ford Motor Co entered the Indian market via a 50-50
need to correct fiscal imbalances and the transition from a centralized plan to a market economy were the important local factors hastening tax reforms. Difficulties in compressing expenditures necessitated that tax system reform take an important role in fiscal adjustment strategy. The transition from plan to market required the substitution of administered prices with market determined prices, the replacement of physical controls with