Budget and taxes

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Union Budget: The union budget is the budget prepared by the central government for the 1)           [country, surplus]as a whole.

State Budget: In countries like India, there is a federal system of 2)              [government, income]thus every state prepares its own 3)            [deficit, budget]

Plan Budget: It is a 4)            [document, expense] showing the budgetary provisions for important projects, programmes and schemes included in the central plan of the country. It also shows the central 5)            [scarce, assistance] to states and union territories.

Performance Budget: The central ministries and 6)                 [departments, sales] dealing with development activities prepare performance budgets, which are circulated to 7)             [property, members] of parliament. These performance budgets present the main projects, programmes and activities of the government in the light of specific objectives and previous years' budgets and 8)                  [achievements, derived].

Supplementary Budget: This budget 9)            [index, forecasts] the budget of the coming year with regards to revenue and expenditure.

Zero-Based Budget: This type of budget is defined as the budgetary process which requires each ministry or department to justify its entire budget in detail. It is a system of budget in which all government expenditures must be 10)              [justified, receipt] for each new period.

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Income tax Property tax A taxpayer Sales or value added tax

1.              is based on how much a person owns.

2.            is a type of tax based on how much money a person earns.

3.                          is a tax based on how much a person buys.

4.            is someone who pays taxes.

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The mission of 1)               [department, depart, departure] of taxation and finance in New York State is to efficiently collect tax revenues in support of state services and programs while acting with 2)              [integral, integrity, internal] and fairness in the administration of the tax laws of New York State.

The department 3)                [administers, administrator, administration] more than 40 state and local taxes and

fees, including more than $14 billion in local sales tax and $8 billion in local

income tax. In regard to real 4)             [property, proper, properly] taxes, the department

oversees the administration of more than $50 billion 5)              [annually, annual, annulation] and works directly with nearly 1,000 local governments.

A key department focus is the balance of efforts to promote voluntary compliance - the cornerstone of New York State's system of taxation - with the duty to 6)              [forceful, enforce, enforcement] New York's tax laws.

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