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The Sixtieth Amendment of the Constitution of India, officially known as The Constitution (Sixtieth Amendment) Act, 1988, amended article 276 of the Constitution relating to taxes on professions, trades, callings and employments. Section 2 of the Act amended Clause (2) of article 276 of the Constitution to increase the ceiling of tax on ...
v. t. e. The Concurrent List or List-III (Seventh Schedule) [1] is a list of 52 items (though the last subject is numbered 47) given in the Seventh Schedule to the Constitution of India. It includes the power to be considered by both the union and state government. The legislative section is divided into three lists: Union List, State List and ...
The Seventh Schedule to the Constitution of India specifies the allocation of powers and functions between the Union and the State legislatures. It embodies three lists; namely, the Union List, the State List, and the Concurrent List. [1] The Union list enumerates a total of 97 subjects over which the power of the Union parliament extends.
Section 22 states that only the RBI has the exclusive rights to issue currency notes in India. Section 24 states that the maximum denomination a note can be is ₹ 10,000 (US$120). Section 26 of Act describes the legal tender character of Indian bank notes. Section 28 allows the RBI to form rules regarding the exchange of damaged and imperfect ...
The Union Budget of India, also referred to as the Annual Financial Statement in Article 112 of the Constitution of India, is the annual budget of the Republic of India set by Ministry of Finance for the following financial year, with the revenues to be gathered by Department of Revenue to identify planned government spending and expected government revenue and the expenditures gathered by ...
The Constitution spells out governmental powers with so much detail that many matters addressed by statute in other democracies must be addressed via constitutional amendment in India. As a result, the Constitution is amended roughly twice a year. The main purpose of the amendments is to become more relevant.
In India, a privy purse was a payment made to the ruling families of erstwhile princely states as part of their agreements to first integrate with India in 1947 after the independence of India, and later to merge their states in 1949, thereby ending their ruling rights. The privy purses continued to be paid to the royal families until the 26th ...
Fifth Schedule to the Constitution of India. Appearance. hide. The Fifth Schedule of the Constitution of India gives special powers to the Governor to provide autonomy to the Scheduled Tribes, thereby limiting the effect of Acts of the Central and State Legislatures on the Scheduled Areas. [1] [2] [3]
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