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The Revenue Department has gone online with the
ambition of providing general information to the public to increase
their general awareness in Public. This is the Key Department where
Total Financial transactions will be evaluated,which is key
factor for Economic Development of the state.
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Sources of Revenue
(i) is income from taxes,both
direct and indirect and other source of similiar nature. The
special characteristic of this source of revenue lies in the fact
that the tax-payers are bound to pay them under the law.Thus,there
is an element of compulsion in thier operation;
(ii)Income from services rendered or goods supplied by the
Government to the public. for instance, revenue from public sector
undertakings in different spheres, including public utilities like
electricity undertakings,water works, road tax,consumptionitems,
rationed food products etc.
(iii)Sources if
income partly compulsory and partly voluntary like income from
public enterprises using monopoly power to raise their prices above
the competitive level, or betterment levy and other special
assessments.This source also covers income from the expenditure. The
issue of new currency brings about inflation in the economy,raising
prices for which consumers have to pay more than the competitive
prices.
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The main motive of the
Government is General welfare or to promote sectors of the economy.
inkeeping with the National policyofeconomic development. Quite
often, they do not except direct revenue. Even when they run public
projects of a no-profit no-loss basis. When Government spends money
to support theeconomy and to promote business prosperity,the
increment to national income thus generated does not directly cometo
the Government. However,the Government has the power to levy direct
and indirect taxes and duties to save its own economy from
deficits. |