Question

Regular payment of tax in role of business towards government

Answer 1

Answer:

Taxes are a major source of revenue for the Government. It is the responsibility of every businessman to pay regular taxes on sales, inputs and income. Moreover, it is the duty of the businessman, as an employer, to deduct the income tax from the salaries of the employees and remit the same to the government treasury.

Another expectation of the Government from the business is that the business firms should cooperate with Government agencies on voluntary basis in connection with various programmes.