What is tax? How is tax collected from our Indian government? Write some pros and cons of tax.
Answers
Answer:
Tax is an amount of money that you have to pay to the government so that it can pay for public services. ... a pledge not to raise taxes on people below a certain income. His decision to return to a form of property tax is the right one.
In order to garner income for the government to finance social projects, tax is collected from individuals and corporations via direct tax and indirect tax. These two tax collections form the government's revenue.
Answer:
A tax is a mandatory fee or financial charge levied by any government on an individual or an organization to collect revenue for public works . The tax structure in India is divided into direct and indirect taxes ... On the other hand , indirect taxes are levied on the sale and provision of goods and services respectively and the burden to collect and deposit taxes is on the seller instead of the assessees direly . An income tax cut would provide more disposable income in the hands of the taxpayer and the government's hope would be that this extra money would be spent by taxpayer - Thus providing a boost to the economy.
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