DEAR SIR,
I AM FORM ART SITES,
1) WHAT IS TAX ?
2) TYPES OF TAXES
PLEASE GIVE ME A FULL DETAILS AS ABOVE.
THANKS
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WHAT IS INCOME TAX
Replies (2)
tax is a compulsory payment to govt. without any direct return....
broadly we can classify it into 2 types...
1. direct tax in which the liability the tax and its burden falls on the same person...eg-income tax....
2. indirect tax where the liability to pay nd burden are on different people...eg- VAT...where the person seller pays the tax to the govt but its burden is on the customers....
thats a brief idea...
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