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Gifts are voluntary contribution made by nonGifts
governmental donors for specified purposes.
2) Administrative Revenue: This category of revenue
includes fees, fines, licenses, escheat and special
assessment etc. Generally such payment arise as a
by-product f administrative control function of the
3) Commercial Revenue: The receipts received by the
government in the form of prices paid by the individual
for the goods and services produced by public
4) Taxes: A compulsory payment to a government
without expectation of direct return in benefit to the tax
Tax is a compulsory payment to the government by
the people. It is the biggest source of public revenue.
If a person defies the tax payment, he may be
punished in the court of law.
"A tax is a compulsory contribution imposed by a
public authority irrespective of the exact amount of
service rendered to the tax-payer in return. 10 Feature of Taxation
Tax is Compulsory Payment: Payment of taxes is
Tax compulsory if the tax-payer has attained the sufficient
conditions for the imposition of a...
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This note was uploaded on 02/11/2014 for the course MANA 2028 taught by Professor Sisterennis during the Winter '12 term at Marquette.
- Winter '12
- The Land