TAXATION DIFFERENT TYPES OF TAXES

expired in 1872, amid constitutional challenges. A corporate income tax

was enacted in 1894, but a key aspect of it was shortly held unconstitutional. In 1909, Congress enacted an excise tax on corporations based on income. After ratification of the Sixteenth amendment to the U.S. Constitution, this became the corporate provisions of the federal income tax.[14] Amendments to various provisions affecting corporations have been in most or all revenue acts since. Corporate tax provisions are incorporated in Title 26 of the United States Code, known as the Internal Revenue Code. The present rate of tax on corporate income was adopted in the Tax Reform Act of 1986.[15]
In 2010, corporate tax revenue constituted about 9% of all federal revenues or 1.3% of GDP

HISTORY

in all the countries. It has become inevitable imposition because

it has great potentials for raising funds for meeting the development and defense needs of a nation. In other word taxes on income, sale, purchase and properties were collected to run Government machineries.

INTRODUCTION

by the person on whom it is impose is a

direct tax e.g., Income Tax, Wealth Tax, Gift Tax, etc. It is directly paid by the tax payer to the government without any intermediary and it comes from own pocket. 

DIRECT TAX

tax payer to some other person, it is and indirect

tax e.g. Sales Tax, Value Added Tax (VAT) etc. It is not directly paid by the person on whom it is levied, but is paid indirectly through the medium of other persons.

INDIRECT TAX

calculation
Income from salary
Income from house property
Profit or

gain under business and profession Income from Capital gain
Income from other sources

Scheme of Income Tax

on the total taxable income of an assessee earned during

the previous year is called Income-tax.

INCOME-TAX

of an assessee and of assessing the amount of tax

payable by him and procedure for imposing tax liability.

ASSESSMENT

to pay for public sector expenditure.
There are various types of

taxes. Swedish taxes are usually classified as follows:
Direct taxes on labour
taxes payable on income from work
taxes on income related to work (such as sickness benefits, pensions and parental benefits)
basic pension contributions

Different Types of Taxes

contributions for self-employed persons)
general payroll taxes
special employers contributions payable on

certain types of compensation and employee benefits

Taxes on income from capital
taxes payable on income from capital assets (such as interest, dividends and rent)
capital gains tax

Taxes on property
In 2008 the national real estate tax was replaced with a local government real estate charge.

services
value-added tax (VAT)
excise duties on alcohol and tobacco, oil, petrol,

etc.
The regulations are those applying in 2009.

the sales of goods or services. It is the tax

that is the most visible, since you typically pay it every time you buy merchandise at the store.
Luxury Tax
According to the IRS, this is an additional tax assessed on what the Government considers "luxury" items. This usually means highly expensive goods like yachts and jewelry are subject to not only a sales tax but also an additional luxury tax.
Use Tax
This tax is assessed on services such as the storage of goods, or on leasing items; examples include car rentals. Use tax is also used in the United States to tax goods that are bought out-of-state and shipped to another state.
Property Taxes
These taxes are assessed on real estate or vehicles. This includes cars, often called an auto registration fee, homes, factories, airplanes and commercial properties, such as malls.

country. Primarily they are used to raise the prices of

goods entering the country and are aimed to protect an industry from foreign competition.
Sin Tax
This is a tax on the purchase of items or services that are considered to be undesirable by society. This includes alcohol and cigarettes. Other taxes covered under this category include taxes on prostitution, gambling or heavy-polluting vehicles.
Capital Gains Tax
Capital gains taxes are assessed on goods sold for more than was paid to purchase them. This includes the sale of homes, stocks and securities for a higher price than they were purchased for.
Payroll Tax
This tax covers a broad number of taxes. Payroll tax includes withholding taxes paid when you work and is used to cover your income taxes. It also includes taxes to support unemployment insurance, Social Security, Medicare and self-employment taxes.
Fuel Taxes
Fuel Taxes are designed to pay for roads and other related services. This is assessed on the sale of gasoline.

to encourage or discourage certain economic decisions. For example, reduction in taxable personal

(or household) income by the amount paid as interest on home mortgage loans results in greater construction activity, and generates more jobs. See also taxation principles.

TAXATION

of M S Dhoni .
Also the cricketers have a

major portion of earnings from Profession which is by virtue of their IPL Contracts and Endorsement money which they receive .
Also not many cricketers have a lot of Deductions taken by them .

CONCLUTION