MONEY MATTERS

A tax is a compulsory contribution from the person to the Government to defray the expenses incurred in the common interest of all without reference to special benefits conferred. Growing needs of social development made each state to find new avenues of revenue. Nowadays taxes can be filed online. file taxes online free , to pay taxes without delay. The tax is levied for the common good of society without regard to benefit to special individuals. The intention of tax is to use the funds for the common good and that in the expenditure of the funds no individual benefits are considered. Everyone sacrifices their income by paying taxes to the Government for the benefit of the society not for their individual benefits.
During the 19th and 20th centuries, there has been both qualitative and quantitative change in the public expenditure. This was because of increase in outlay of Governments in public health, education, water supply, lighting facilities, unemployment relief and up-liftment of weaker sections of society. Modern Government is spending enormous sums of money for national defence, agriculture, industrial development and other economic infrastructure facilities. To meet expenditure on such enormous range of activities the state needs revenue, a major part of which is raised through taxation of various types.

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