What is Taxes?

The Government rules and regulations

The word TAX is derived from a Latin word TAXO. The tax is mandatory charges enforced by a Government upon a taxpayer i.e. individual or other legal entity. The tax is imposed by Government Organization to raise the funds for various public expenditures. The individual and other legal entity have to pay these charges as per rules and regulation decided by Government Organization. The failures to pay or avoiding to pay taxes is a punishable act by law. The taxes having two categories i.e. Direct Taxes and Indirect Taxes