Debt is generally the least expensive source of capital. this is primarily due to the tax deductibility of interest payments.
What is tax?
- Tax compliance refers to policy actions and individual behavior aimed at ensuring that taxpayers are paying the right amount of tax at the right time and securing the correct tax allowances and tax reliefs.
- A tax is a mandatory financial charge or some other type of levy imposed on a taxpayer by a governmental organization in order to fund government spending and various public expenditures.
- Around 3000–2800 BC, the first recorded taxation was enacted in ancient Egypt.
What three forms of taxes are there?
- The Indian Constitution grants three statutory authorities, including the Central Government, the authority to levy taxes in India, including income tax, customs duties, central excise duty, etc.
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