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Brahmadeya (Sanskrit for "given to Brahmana" [1]) was tax free land gift, either in the form of single plot or whole villages, donated to Brahmanas in the early medieval India. It was initially practiced by the ruling dynasties and was soon followed up by the chiefs, merchants, feudatories, etc. Brahmadeya was devised by the Brahmanical texts ...
Tax on production was 1 ⁄ 6 of the gross product. It was paid either in the form of crops or money. Heavy taxes were levied on prostitution. Turkic sultans followed the Hanafi School of Islamic jurisprudence as their monetary policy. The costs were very low in the time of Ibrahim Lodhi. In the Vijayanagar Empire the cost of goods was also low.
Although ancient India had a significant urban population, much of India's population resided in villages, whose economies were largely isolated and self-sustaining. [citation needed] Agriculture was the predominant occupation and satisfied a village's food requirements while providing raw materials for hand-based industries such as textile, food processing and crafts.
Farmers were freed of tax and crop collection burdens from regional kings, paying instead to a centrally administered and strict-but-fair system of taxation as advised by the principles in the Arthashastra. Chandragupta Maurya established a single currency across India, and a network of regional governors and administrators and a civil service ...
A hundi or hundee is a financial instrument that was developed in Medieval India for use in trade and credit transactions. Hundis are used as a form of remittance instrument to transfer money from place to place, as a form of credit instrument or IOU to borrow money and as a bill of exchange in trade transactions.
The quantities of silver are given in Babylonian talent (1 Babylonian talent = about 30.3 kg), while the quantities of gold (India only) are given in Euboïc/Euboean talent (1 Euboïc talent = about 26 kg). [2] [1] Only the Hindush paid in gold, the exchange rate of gold to silver being 1 to 13 by weight at the time of Herodotus. [2] [1]
Marshall notes the British went into partnership with Indian bankers and raised revenue through local tax administrators and kept the old Mughal rates of taxation. Professor Ray agrees that the East India Company inherited an onerous taxation system that took one-third of the produce of Indian cultivators. [27]
3.1.1.2 Rules of Action for a King (7.1 – 9.324) (contains 960 verses, includes description of institutions and officials of state, how officials are to be appointed, tax laws, rules of war, the role and limits on the power of the king, and long sections on eighteen grounds for litigation, including those related to non-delivery under ...