MANAGEMENT

Detailed explanation-1: -Sovereignty can be defined as the inherent and supreme power from which a people derive their social. Sovereignty can be defined as the inherent and supreme power from which a people derive their social, political and economic governance. It is the basis upon which a nation is formed and a people govern themselves.

Detailed explanation-2: -Inherent powers are powers of a state or branch of government that are not expressly written in a Constitution. For a state, these powers are the Power of Taxation, Police Power, and the Power of Eminent Domain.

Detailed explanation-3: -J] Article 276 empowers state legislature to tax on profession, trades, callings and employment up to Rs. 2500 per annum even though taxing power on income is prima facie vested with the Union. This Article, however, does not limit in any way the power of the Union to tax income.

Detailed explanation-4: -The power of taxation, along with the power of eminent domain and police power, is one of the inherent powers of the government. It is an inherent attribute of sovereignty. This means that it exists simply because the State exists.