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BEST TAX FILING PLATFORMS
Do you ever wonder how schools, roads, parks, and other public utility services are built? Or who is in the authority of paying for and maintaining roads and other infrastructure? Yes, you are right, the general public pays taxes for all the services that the government provides them! Taxes are an important way in which the government can gather money from its citizens to pay for things that the people require, like schools, roads, malls, and roads. Over the years, different forms of money were invented, and the collection of taxes continued at a wider scale. The use of taxes has been around for decades, dating back to the first human civilizations. In ancient Mesopotamia, taxes were paid in the form of animals or goods since general money had not yet been invented.
Tax is the money that people must give to the government. Taxes are used to pay to the government employees who in turn serve the public such as the military, police, education, and health care, and to maintain or build things like roads, bridges, malls.
Types of Tax
Direct tax – this tax is directly paid to the government e.g., income tax.
Indirect tax – this tax is levied on services and products. Indirect taxes are collected by the person who provides or sells services or products. E.g., GST and service tax.
Advantages of filing tax
If you start filling tax, then you will be able to grab the below-mentioned advantages.
ITR filing will help you when you have to apply for any loan i.e., vehicle loan (2-wheeler or 4-wheeler), House Loan, etc. Banks require a copy of tax returns
Income Tax Return serves as proof of your Income and Address.
Most embassies require you to furnish copies of your tax returns for the past couple of years at the time of the visa application and other processes.