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Filed under Books by on Aug 11th, 2009. 13 Comments.
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s no repayment obligation in case of grants. # Gifts and donations are voluntarily made by individuals, organizations or foreign governments to the Central Government. ~ Such gifts are made out of patriotic feelings or at the time of crisis or national calamities. ~ Gift cannot be considered as a regular source of revenue. *CONCLUSION: ~ Thus, the tax system plays an important role in generating Public Revenue. Also, the non-tax income is importa…
Filed under Tax Gift by on Mar 29th, 2011. Comment.