CANONS OF TAXATION | ADAM SMITH - CANONS | MASKMOONJI | IN TAMIL -

CANONS OF TAXATION | ADAM SMITH - CANONS | MASKMOONJI | IN TAMIL -
Hello everybody , In this video we have explained the canons of taxation .
Canon means rule or principle by which something is justified.
Canons of taxation are the general/fundamental principles of taxation
framed to ensure that the taxing authorities should follow the same before
devising a taxing system.
Adam smith, the father of modem political economy, has laid down four
principles or cannons of taxation in his famous book "Wealth of Nations"(1776).
(1) Cannon of equality or ability,
(2) Cannon of certainty,
(3) Cannon of convenience, and
(4) Cannon of economy.
Canon of equality or ability:
"The subject of every state ought to contribute towards the support of the
government as early as possible in proportion to their respective abilities
that is in proportion to the revenue which they respectively enjoy under the
protection of the State".
Canon of certainty:
"The tax which each individual is bound to pay ought to be certain and not
arbitrary. The time of payment, the manner of payment, the quantity to be
paid all ought to be clear and plain to the contributor and to every other
person".
Canon of convenience:
"Every tax ought to be levied at the time or in the manner in which it is most
likely to be convenient for the contributor to pay it".
Canon of Economy:
"Every tax is to be so contrived as both to take out and keep out of the
pockets of the people as little as possible over and above what it brings
into the public treasury of the state".
We hope this video is useful for all of you .
For queries kindly give us a comment in the comment box.
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[@PriyaPriya-zj8gv]

Tq so much for this explanation sir ❤....its very easy to me and clear clarification sir...❤ For my tomorrow exams sir ...❤

[@MASKMOONJI150420]

Most welcome and All the best...Thanks for watching sir... kindly share to your friends and family 👍🏽

[@SACHINsthemts]

Very super explaination thanks to you

[@MASKMOONJI150420]

Thanks for watching 👍🏽

[@chandru_675]

Thank you so much Anna ❤

[@MASKMOONJI150420]

You are so welcome sir 👍🏽

[@02mathiips39]

👍🏻😊

[@Common_rats]

Tnx

[@MASKMOONJI150420]

Thanks for watching 👍🏽

[@afreeth555]

💕