Top 10 Universities in the World (2013-14)

There are many respective universities in the world, but among them which universities are the best? That’s what we are going to discuss here is the top 10 universities in the world of 2013-14 session. Universities possesses very crucial roles in our ultra modern society in the likes of providing knowledge, information and ideas for every student because we are living in a time when knowledge is ever more crucial to our societies and economic, knowledge is also replacing every other sources as a main operator of economic growth.

Universities also provoke the economic growth of its countries. For an example a recent study regulated that universities assisted nearly 60 billion pounds to the economy of the United Kingdom.

How Tax Deductions System Works in India

The term “tax” is very common to us, but the “tax system” is indeed very complicated. There is different type of tax systems in different countries. Tax is generally a government’s income or a sum of money taken by a country’s government for its development. It’s not a donation but a fortified contribution to the authority. We are going to discuss about Indian tax system in this article and how does it effects on it.

Today we will mainly focus on how the different tax deductions process works in India. We will try to explain the whole method in simpler words so that even a novice can understand it with ease.

There are mainly two types of tax in India:  1) Direct tax and 2) Indirect tax.

Direct tax means which tax is collected by the government directly from taxpayers for different purposes, for an example we can say income tax in which taxpayers directly give the tax money to the government.

And the indirect tax is completely opposite of the direct tax in which the duty can be shifted to others, here the actual tax payer is not the actual tax bearer, such as sales tax in which seller include the tax money before selling the goods so the buyer of the goods actually pay the tax money.