Notes and Study material for Exams
The Complex Landscape of State Taxes: Levied, Collected, and Retained The United States operates under a federal system, where power is shared between the national government and individual states. This division of power extends to the realm of taxation, with both levels of government levying taxes to fund their respective operations. While the federal government … Read more
The Surcharge on Certain Taxes and Duties: A Deep Dive into Article 271 of the Income Tax Act The Indian Income Tax Act, 1961, is a complex and multifaceted piece of legislation designed to ensure a fair and equitable distribution of the tax burden. One of the key provisions within this Act is Article 271, … Read more
Emergency Provisions: A Comprehensive Guide to Preparing for the Unexpected The world is a dynamic and unpredictable place. Natural disasters, pandemics, economic crises, and even man-made events can disrupt our lives and leave us scrambling for essential resources. In such situations, having a well-stocked emergency kit and a comprehensive plan can make the difference between … Read more
The Sunset Clause: A Tool for Temporal Legislation in India The concept of a sunset clause, also known as a “termination clause” or “expiry provision,” has gained increasing prominence in the Indian legal landscape. This provision, typically embedded within legislation, sets a specific date or event after which the law automatically ceases to be in … Read more
The Securities and Exchange Board of India (SEBI) is the regulator of the securities market in India. It was established in 1992 by the Securities and Exchange Board of India Act, 1992. The SEBI is responsible for protecting the interests of investors, promoting the development of the securities market, and regulating the activities of market … Read more
The Guardian of Public Finances: A Deep Dive into the Comptroller and Auditor General of India The Comptroller and Auditor General of India (CAG), an institution enshrined in the Constitution of India, plays a pivotal role in safeguarding public finances and ensuring accountability in government spending. This article delves into the multifaceted functions, powers, and … Read more
The House Divided: Examining Key Issues in the Functioning of Parliament Parliament, the cornerstone of representative democracy, is tasked with the crucial role of enacting laws, scrutinizing the government, and representing the will of the people. However, in recent times, the functioning of parliaments across the globe has come under increasing scrutiny, with concerns raised … Read more
The Budgetary Process in Parliament: A Symphony of Scrutiny and Approval The annual budget, a financial blueprint outlining government spending and revenue, is a cornerstone of any democratic society. It reflects the government’s priorities, shapes the lives of citizens, and ultimately determines the economic health of a nation. The process of crafting and approving this … Read more
The Complex Dance: Financial Relations and Centre-State Relations in India India’s federal structure, with its intricate web of power sharing between the Centre and the States, is a testament to the country’s unique political and administrative landscape. This intricate balance is further complicated by the complex interplay of financial relations, where the distribution of resources … Read more
Shaping India’s Destiny: The Committees of the Constituent Assembly The Indian Constituent Assembly, a remarkable assembly of diverse minds and perspectives, was tasked with the monumental task of drafting the Constitution of independent India. This process, spanning over two years and involving numerous debates and deliberations, was not solely the work of the full assembly. … Read more