tax goes to the government treasury which is used by the government to run government services and schemes, even every person pays tax. , but he does not know that he is also paying tax, even a beggar pays tax
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What is Tax
Tax is such an amount that is imposed by the government on all types of goods, and the government runs by the amount of this tax, whether it is to pay salary to a government employee or to give any service to a common man. Be it, such as the construction of a colony or ration or a road, etc.
why tax is imposed
The tax is levied so that the government can be paid for running various types of services, and the tax is applicable to those earning more than a certain amount, and in India the amount is up to ₹ 500000, that is, If the annual income of a person is less than ₹ 500000, no tax will be levied on his earnings, but if his annual income exceeds ₹ 500000 then tax will be applicable on him.
However, if a person’s salary is less than ₹ 500000 annually, it does not mean that he is not paying tax, although he is not paying any tax on his income, but he is not paying any tax on his daily use. Surely tax is being paid, like if you go to buy any goods or use any other type of item, where you have to send, tax is charged there, even when you pick up matches. If you go, you will get to see Tax included or including all taxes , that is, companies also collect taxes on their products from people only.
You will definitely find most goods with all taxes written or tax included , which means that you are also paying tax on that purchase, and many products also have the amount written on the amount you pay for that item. are being paid as tax.
In this article you have learned what is tax and tax meaning in english, we hope this information will prove useful for you.