A tax is a compulsory contribution from the citizen to the state. It is the duty of every citizen to bear their due share in the support of the Government. As tax is a compulsory contribution, refusal to pay tax or their evasion is treated as an offence by the court of law. Nowadays people are able to file taxes online free . This helps them to avoid last minute crowd and it is hassle free.
The tax is levied for the common good of the society without regard to benefit to special individuals. The primary objective of taxation is to raise revenue to the state. But it is being realised that taxation can be used to secure several other economic and social ends. Taxation is a powerful instrument for reducing inequalities in the distribution of wealth and for mitigating the rigours of the fluctuations in the level of national income and employment. Besides, the taxation can be used for securing equilibrium in the balance of payments.
Taxation has different roles in times of inflation and depression. The aim of taxation in times of inflation should be to reduce the purchasing power in the hands of people. Thus the rise in rates of existing taxes and the imposition of new taxes would check consumption, decrease the level of effective demand and therefore help in bringing up stability in prices.
Archive for February 1st, 2010
Taxation
New warning on Omega – 3s
You have heard that omega-3 fatty acids have many health benefits- and for most people they do. They are found in fatty, cold water fish (salmon, mackerel, lake trout, herring, sardines and tuna), soyabean, flaxseed and walnut oils, as well as dark green leafy vegetables like kale and collard greens. You can also get omega-3 from fish –oil capsules.
Studies have shown that daily consumption of omega-3s may dramatically reduce the incidence of sudden cardiac death. They may reduce triglycerides, lower blood pressure and decrease inflammation. They can prevent excessive blood clots from forming which, in turn, may decrease the risk of a heart attack. They may also reduce depression and help prevent dementia.
But omega-3s can be a double-edged sword. Research has found that in some cases omega-3s can be fatal. One of the reasons omega-3s may decrease the incidence of sudden cardiac death is that they stop those cardiac cells that are the most unstable from functioning. But in people who have angina (chest pain or tightness due to heart disease) or congestive heart failure because their hearts are not receiving enough blood flow, removing those cells from functioning can reduce the heart’s ability to pump blood so much that it may increase the risk of sudden cardiac death.
Avoid omega- 3s if you have angina or congestive heart failure. If you have heart disease or have had a heart attack but don’t have angina then omega-3s are beneficial.