Well, the month of April is one that most people get headache as it the month each an every citizen as well as residents have to file for tax, in this case income tax. first of all what is tax?
tax is a sum of money paid by the citizens to the government on the income or value of purchases of certain specific goods and services. the idea is to help the government raise some money to undertake development projects as well as to meet government expenditure. in the case of income tax, not every person pays the some amount as there are different categories for chargeable income depending on how much you get as income and you expenses.In general, a taxpayer is required to pay tax on all kind of earnings, including incomes from:
- Business or profession
- Employment
- Dividends
- Interest
- Discounts
- Rent
- Royalties
- Premiums
- Pensions
- Annuities
- Others
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