Thursday, 18 April 2019

Tax means

Tax means an amount charged by State or Central Governments for  carrying welfare activities . Amount is charged on income and property of individuals, companies ,firms.

 Tax is the money paid to State and Central Govt. authorities for income earned or for buying goods and services.

 Tax is the compulsory contribution to be made by Individuals , firms and companies to the respective Govt. for income earned or for goods and services bought.

There are two types of taxes. They are

  1. Direct tax
  2. Indirect tax


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