Find an expert Taxation Tutor

What is taxation?
Taxation is the process by which a government collects money from individuals and businesses to fund public services and infrastructure such as roads, education, and healthcare.

What are the different types of taxes?
Taxes can be direct, like income tax and corporate tax, or indirect, like GST, sales tax, and customs duty. Each type has specific rules and rates.

Who is required to pay income tax?
Individuals, businesses, and organizations whose income exceeds a certain threshold defined by law are required to pay income tax. Exemptions and deductions may reduce the taxable amount.

What is GST and how does it work?
GST (Goods and Services Tax) is an indirect tax applied on the supply of goods and services. It is collected at each stage of the supply chain and is ultimately borne by the consumer.

What happens if taxes are not paid on time?
Failure to pay taxes on time can result in penalties, interest on overdue amounts, and legal actions by the tax authorities. Timely filing and payment help avoid such issues.