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TAX- What is TAX? - Gurukul Kendra

TAX- What is TAX?

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A tax may be defined as a “pecuniary burden laid upon individuals or property owners to support the Government, a payment exacted by legislative authority. A tax “is not a voluntary payment or donation, but an enforced contribution, exacted pursuant to legislative authority”.

In simple words, tax is nothing but money that people have to pay to the Government, which is used to provide public services.

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