Taxation is a/an _________ power of the State and there is no fundame...
Taxation is a term for when a taxing authority, usually a government, levies or imposes a tax. The term "taxation" applies to all types of involuntary levies, from income to capital gains to estate taxes.
Taxation is a/an _________ power of the State and there is no fundame...
The correct answer is option 'D' - Sovereign.
Explanation:
Taxation is an essential power of the state. It refers to the authority of the government to impose and collect taxes from individuals and entities within its jurisdiction. This power is derived from the sovereignty of the state.
1. Sovereign Power:
The power to tax is inherent in the concept of sovereignty. Sovereignty implies the supreme authority of the state to govern its territory and citizens. As a sovereign power, the state has the right to impose taxes on its subjects or residents. This power allows the state to generate revenue for public expenditure and fulfill its obligations towards the welfare of its citizens.
2. No Fundamental Right to be Immune from Taxation:
There is no fundamental right to be immune from taxation. In other words, individuals do not have an absolute right to avoid paying taxes. The Constitution of a country may provide certain fundamental rights to its citizens, but these rights are not absolute and can be subject to reasonable restrictions. Taxation is one such restriction imposed by the state in the public interest.
3. Authority to Levy Taxes:
The authority to levy taxes rests with the legislature, which is the law-making body of the state. The legislature enacts tax laws and determines the types of taxes, rates, exemptions, and procedures for collection. These laws are binding on individuals and entities within the jurisdiction of the state.
4. Statutory Power:
Taxation is a statutory power, which means that it is derived from laws enacted by the legislature. The power to tax and the corresponding obligations are defined and regulated by tax statutes. These statutes prescribe the conditions, procedures, and consequences related to taxation.
5. Administrative Power:
While taxation is an administrative function, it is not the correct answer in this context. The administration of taxes is carried out by the tax authorities, who are responsible for the assessment, collection, and enforcement of tax laws.
In conclusion, taxation is a sovereign power of the state, derived from its authority to govern. There is no fundamental right to be immune from taxation, and the power to tax is derived from statutes enacted by the legislature.