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what is tax?
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Answer / rajesh jha
It is a certain amount of money that is recieved from a
worker at the end of every year. This money goes to the
government where it is then payed for things such as
hospitality and services etc
# At 1st it is a govt revenue
| Is This Answer Correct ? | 24 Yes | 10 No |
Answer / alka gupta
tax is a very beneficial resource for the govt that is
charged on a person's at a limit of
income................that is further used for the public
wellfare.
| Is This Answer Correct ? | 23 Yes | 9 No |
Answer / swapnil
Tax commited to govt on income of a tax payer.
| Is This Answer Correct ? | 22 Yes | 9 No |
Answer / rahul
They are a charge imposed by the government on people,
entities, or on property in order to raise revenue.
| Is This Answer Correct ? | 18 Yes | 5 No |
Answer / munna paswan
It is a financial charge which is charged by the Government
from the assessee. Assessee may be a person,artificial
juditial person,Trust,HUF,Etc.
| Is This Answer Correct ? | 19 Yes | 6 No |
Answer / max
a sum of money demanded by a government for its support or
for specific facilities or services, levied upon incomes,
property, sales, etc.
| Is This Answer Correct ? | 17 Yes | 6 No |
Answer / sudeep kumar das
Tax is an important source of revenue for both cental as
well as state Govt. The constitution of India prescribes
establishment of a socilistic pattern of society providing
Justice to all political,economic & social.
There r two types of Tax i,e Direct Tax and
Indirect Tax.
Direct Tax ia a type of tax the burden which cann't
shift on the head of other.and indirect tax is vice-versa.
direct tax is Excise Duty income Tax, corporate taxes,
income taxes, and transfer taxes, Gift Tax.
Indirect Tax are sales tax
| Is This Answer Correct ? | 16 Yes | 5 No |
Answer / sumon ahmed
Tax is a compulsory levy imposed by the government.people
pay to the government based on what they earn,what they earn
and what they purchase.
| Is This Answer Correct ? | 19 Yes | 9 No |
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my boss (Managing Partner of a firm) promoted along with his wife a private limited company. he and she spent some Rs. 75,000/- (approx) for the promotion of the company. i know that they usually fall under the head of preliminary expenses. but after receiving the certification of incorporation of the company how shall i repay them to the promoters i.e. what is the accounting entry in the books (initial books of accounts) for the expenditure incurred. they have kept in hand 5,00,000/- each to meet the expenses and they were allotted shares of equal to the amount. can i allot shares for a consideration of cash from and excluding the preliminary expenses. can i take cash towards the share application money (being the cash more than Rs. 20,000/-) as the company has not opened a bank account yet. please give me the detailed answer with journal entries that can be entered in tally. thank you.
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