Question

short notes on statutory and taxation​

Answer 1

Answer:

hi mate

Explanation:

STATUTORY-- A statutory corporation is a body corporate formed by a special act of parliament or by the central or state legislature. It is fully financed by the government. Its powers, objects, limitations etc. are also decided by the act of the legislature. It is also called” public corporation”.

TAXATION-- Taxation is a term for when a taxing authority, usually a government, levies or imposes a tax. The term "taxation" applies to all types of involuntary levies, from income to capital gains to estate taxes.