what is tax?
Answers were Sorted based on User's Feedback
Answer / anku
A TAX IS A PAYMENT MADE BY THE PERSON WHO HAS EARNED INCOME
DURING A YEAR TO THE GOVERNMENT.
Is This Answer Correct ? | 285 Yes | 78 No |
Answer / sandhya
Tax is a major source of revenue to the government. Taxes
can be classified into Direct taxes and Indirect taxes. It
is imposed by the government on the applicable persons.
Is This Answer Correct ? | 97 Yes | 19 No |
Answer / ramakanth
A compulsary payment to government on income earned by
individuals/entities with out any "QUID-PRO-
QUO"[consideration].
Is This Answer Correct ? | 92 Yes | 31 No |
Answer / sanjeev dogra
Tax means this amout we have to pay the Govt.
Tax is liable for us.
Is This Answer Correct ? | 82 Yes | 31 No |
Answer / sonali
An income tax is a tax levied on the financial income of
persons, corporations, or other legal entities.
Is This Answer Correct ? | 94 Yes | 46 No |
Answer / deepak jha
Tax is : compulsory exaction(payment) made under any statue.
Note: Tax is not given on the profot itself. Like in MAT a
company is obliged to pay tax even if the comoany shows
loss as per books.
Is This Answer Correct ? | 39 Yes | 20 No |
Answer / katey
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.
Is This Answer Correct ? | 44 Yes | 26 No |
Answer / bappi
Taxes are compulsory payment to government without
expectation of direct return in benifit to the tax payer.
Is This Answer Correct ? | 28 Yes | 13 No |
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A company maintains a margin of safety of 25% on its current sales and earns a profit of Rs. 30 lakhs per annum. If the company has a profit volume (P/V) ratio of 40%, its current sales amount to A. Rs. 200 lakhs; B. Rs. 300 lakhs; C. Rs. 325 lakhs; D. None of the above.
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