The money which has been paid to the government depending on the income or to the goods and services purchased is known as a tax. It is a mandatory financial charge given to the government for public expenditures. It is compulsory to pay the tax within the declared date and failing to pay the tax will be punishable by laws. It is necessary to file the tax on time without exceeding the due. While the method of paying tax was followed by all the countries but according to their laws, the system may vary. Being a taxpayer knowing about the tax liabilities and paying the tax and filing the tax return is important. Also, it is necessary to know about the tax rebate which is highly useful for you in the case when the tax is overpaid.
- The tax refund is known as tax rebate which is a process of