In which books included principles of tax?

In the book Escaping the Minotaur’s Labyrinth: Principles of Taxation, Dr Gaurishanker has dealt with the basic principles of taxation and addressed its underlying concepts with a view to dispel the fog that leads most legal professionals to regard tax law as an exclusive domain reserved for a few specialists.

What are the main principles of taxation?

These are: (1) the belief that taxes should be based on the individual’s ability to pay, known as the ability-to-pay principle, and (2) the benefit principle, the idea that there should be some equivalence between what the individual pays and the benefits he subsequently receives from governmental activities.

What are the classifications of taxes?

In general, taxes fall into one of four primary categories. Income taxes are imposed on the income earned by a person or firm; property taxes are imposed on assets; sales taxes are imposed on the value of goods sold; and excise taxes are imposed on specific goods or services.

What are the types of taxation?

Taxes on What You Earn

• Individual Income Taxes.
• Corporate Income Taxes.
• Payroll Taxes.
• Capital Gains Taxes.
• Sales Taxes.
• Gross Receipts Taxes.
• Value-Added Taxes.
• Excise Taxes.

What are the modern principles of taxation?

In The Wealth of Nations (1776), Adam Smith argued that taxation should follow the four principles of fairness, certainty, convenience and efficiency. Fairness, in that taxation should be compatible with taxpayers’ conditions, including their ability to pay in line with personal and family needs.

What are the classification of taxation?

What are the three classifications of taxes?

Tax systems in the U.S. fall into three main categories: Regressive, proportional, and progressive. Two of these systems impact high- and low-income earners differently.

What are the 4 main categories of taxes?

Learn about 12 specific taxes, four within each main category—earn: individual income taxes, corporate income taxes, payroll taxes, and capital gains taxes; buy: sales taxes, gross receipts taxes, value-added taxes, and excise taxes; and own: property taxes, tangible personal property taxes, estate and inheritance …

What are the 4 types of taxes?