Question

Long answer type questions
1. Describe the organisation of a Municipal Corporation.
2. Discuss the functions of a corporation.
3. Mention the sources of income of a corporation.​

Answer 1

Answer:

1.The Municipal Corporation consists of a committee which includes a Mayor with Councillors. The Corporations provide necessary community services to the Metropolitan Cities and are formed under the Corporation Act of 1835 of Panchayati Raj system. The Mayor heads the Municipal Corporation.

2.All corporations are in business to earn a profit. However, corporations are also responsible for increasing profits to maximize those of their shareholders. The shareholders have ownership in a corporation. They earn profits on their initial and additional investments.

3.Entertainment tax collected from the cinema halls & cable, TV operators, toll tax for the use of roods & bridges on houses & land, called Property tax. Water tax on the water used by house holds. = Municipalities also receive annual grants & part of the taxes from their respective state governments.

Answer 2

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☞ Describe the organisation of a Municipal Corporation?

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➜A municipal corporation is made up of a wards committee. Each ward has one seat in the wards committee. Members are elected to the wards committee on the basis of adult franchise for a term of five years. These members are known as councillors or corporators.

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☞Discuss the functions of a corporation.

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➜All corporations are in business to earn a profit. However, corporations are also responsible for increasing profits to maximize those of their shareholders. The shareholders have ownership in a corporation. They earn profits on their initial and additional investments.

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☞Mention the sources of income of a corporation.

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➜Entertainment tax collected from the cinema halls & cable, TV operators, toll tax for the use of roods & bridges on houses & land, called Property tax. Water tax on the water used by house holds. = Municipalities also receive annual grants & part of the taxes from their respective state governments.