Question

What were the taxes collected by the present day government

Answer 1

Answer:

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Explanation:

Taxes in India are levied by the Central Government and the state governments.[1]Some minor taxes are also levied by the local authorities such as the Municipality.[2]

The authority to levy a tax is derived from the Constitution of India which allocates the power to levy various taxes between the Central and the State. An important restriction on this power is Article 265 of the Constitution which states that "No tax shall be levied or collected except by the authority of law".[3] Therefore, each tax levied or collected has to be backed by an accompanying law, passed either by the Parliament or the State Legislature. In 2015-2016, the gross tax collection of the Centre amounted to ₹14.60 trillion (US$200 billion).[4]

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Answer 2

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The primary factor used to distinguish developed countries from developing countries is the gross domestic product (GDP) per capita, a tally of all the goods and services produced in a country in one year, expressed in U.S. dollars. GDP is calculated by dividing a country's GDP by its population. For example, a small country with a GDP of $1 billion and a population of 50,000 has a GDP per capita of $20,000. One unofficial threshold for a country with a developed economy is a GDP per capita of $12,000. Some economists prefer to see a per capita GDP of at least $25,000 to be comfortable declaring a country as developed, however. Many highly developed countries, including the United States, have high per capita GDPs of $40,000 or above.

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