Property tax constitution of india




It came It came into effect in all parts of the country except Jammu and Kashmir. Stressing upon the issue whether the residuary power derived from Article 248 read with entry 97, the list I, can certainly take in the power to amend the Constitution, the Supreme Court in the case of I. The following definitions apply to subsection (f) This subsection applies to property taxes first due and payable in 2012 and thereafter. Credit is also available for Additional Customs Duty …Case Brief on the Residuary power of Indian Constitution. Initially it was made a fundamental right so as to provide protection of property25/11/2003 · Although India does not have a typical value-added tax system, under the MODVAT (modified value added tax), a manufacturer can obtain credit for excise duty paid on capital goods and on inputs used in the manufacture of final products. by the Constitution (Seventh Amendment) Act, 1956, s. (e) This subsection applies to property taxes first due and payable in 2012 and thereafter. THE CONSTITUTION OF INDIAProperty tax is the most important tax levied by ULB’s in India; most cities are greatly dependent on property tax revenue for their budget. by the Constitution (Fifteenth Amendment) Act, 1963, s. The right to property was initially present in Indian constitution under part III : Fundamental right , Article 31 but it was abolished by 44 th Amendment Act ,1978. 86. Article 294 and 295 of Constitution of India, 1949 Succession to property, assets, rights, liabilities and obligations in certain cases. - from the commencement of this Constitution and Succession to property, assets, rights, liabilities and obligations in other cases. The General Assembly shall, by law, limit a taxpayer's property tax liability as follows:The right to receive pension was recognised as a right to property by the Constitution Bench judgment of this Court in Deokinandan Prasad v. 12 (with retrospective effect). 2Subs. Taxes on the capital value of the assets, exclusive of agricultural land, of individuals and companies; taxes on the capital of companies. C. Golaknath & Ors vs State Of Punjab & Anrs. - (1) As from the commencement of this Constitution are defined under Article (2) Nothing in clause (1) shall, until Parliament by law otherwise provides, prevent any authority within a State from levying any tax on any property of the Union to which such property was immediately before the commencement of this Constitution liable or treated as liable, so long as that tax continues to be levied in that State. The scheme is applicable to notified inputs and final products and covers most taxable commodities. ” 11. . Professional tax is levied by state government or municipalities under Article 276 of constitution, which provides for levy of tax on trade, profession and employment. , for entry 79. Applying the law laid-down by the Supreme Court in the aforesaid cases and as per the Rules, it appears that the Government is entitled to retain the gratuity during pendency of judicial proceedings not more than 50% subject to consideration the …Gift Tax: Gift tax in India is regulated by the Gift Tax Act which was constituted on 1st April, 1958. 29 and Sch. State of Bihar. 1Ins


 
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