write about tax system ?
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HEY MATE
HERE IS YOUR ANSWER :-
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⚡TAX SYSTEM ⚡
✨A compulsory contribution given by a citizen or organisation to the government is called tax, which is used for meeting expenses on welfare work.
✨ tax imposing and tax collecting is at three levels in India Central level, state level and local level.
✨ the distribution of tax between centre and state has been clearly mentioned in the provision of Indian Constitution that for analysing it from time to time, finance commission has been constituted.
___________________________
❤BE BRAINLY ❤
_________________
HERE IS YOUR ANSWER :-
___________________________
______________________________
⚡TAX SYSTEM ⚡
✨A compulsory contribution given by a citizen or organisation to the government is called tax, which is used for meeting expenses on welfare work.
✨ tax imposing and tax collecting is at three levels in India Central level, state level and local level.
✨ the distribution of tax between centre and state has been clearly mentioned in the provision of Indian Constitution that for analysing it from time to time, finance commission has been constituted.
___________________________
❤BE BRAINLY ❤
_________________
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hey mate...
here is ur answer...
A tax (from the Latin taxo) is a mandatory financial charge or some other type of levy imposed upon a taxpayer (an individual or other legal entity) by a governmental organization in order to fund various public expenditures.[1]A failure to pay, along with evasion of or resistance to taxation, is punishable by law. Taxes consist of direct or indirect taxes and may be paid in money or as its labour equivalent.
Most countries have a tax system in place to pay for public/common/agreed national needs and government functions: some levy a flat percentage rate of taxation on personal annual income, some on a scale based on annual income amounts, and some countries impose almost no taxation at all, or a very low tax rate for a certain area of taxation. Some countries charge a tax both on corporate income and dividends; this is often referred to as double taxation as the individual shareholder(s) receiving this payment from the company will also be levied some tax on that personal income.
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here is ur answer...
A tax (from the Latin taxo) is a mandatory financial charge or some other type of levy imposed upon a taxpayer (an individual or other legal entity) by a governmental organization in order to fund various public expenditures.[1]A failure to pay, along with evasion of or resistance to taxation, is punishable by law. Taxes consist of direct or indirect taxes and may be paid in money or as its labour equivalent.
Most countries have a tax system in place to pay for public/common/agreed national needs and government functions: some levy a flat percentage rate of taxation on personal annual income, some on a scale based on annual income amounts, and some countries impose almost no taxation at all, or a very low tax rate for a certain area of taxation. Some countries charge a tax both on corporate income and dividends; this is often referred to as double taxation as the individual shareholder(s) receiving this payment from the company will also be levied some tax on that personal income.
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