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With the increase in government functions and

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Unformatted text preview: the increase in government functions and expenditure, the volume of public revenue has increased manifold in recent times. increased 3 Public Revenue-Sources Various sources of Public Revenue: 1. Taxes: Taxation is the major sources of public 1. revenue. It is the largest part of public revenue. revenue. Tax is a compulsory contribution to state revenue, Tax levied by the government on workers' income and business profits or added to the cost of some goods, services, and transactions. services, This contribution is for the benefits of all and there is no relationship of benefit as between the services rendered by the government and the payment of a tax by an individual. by 4 Public Revenue Various sources of Public Revenue: 2. Fees: Fees are to be paid only by those individuals 2. who received some special benefits from services rendered by the government. eg. Entrance Fees, Tuition Fees, Examination Fees etc. Tuition 3. License Fee: A license fee is similar in nature to 3. that of a fee, but it can be different from a fee. eg. Vehi...
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