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1. Dictionary

   tax

   /taks/

   noun

   • 1. a compulsory contribution to state revenue, levied by the government on workers' income and business profits, or added to the cost of some goods, services, and transactions: "higher taxes will dampen consumer spending" Similar levytariffdutytollexciseimpostcontributionassessmenttributetithechargefeeliabilitycustomsduescessOpposite rebate
   • 2. a strain or heavy demand: "a heavy tax on the reader's attention" Similar burdenloadweightencumbrancedemandstrainpressurestressdrainimpositionresponsibilitydutyonusobligationcareworry

   verb

   • 1. impose a tax on (someone or something): "the income will be taxed at the top rate" Similar levy a tax onimpose a toll oncharge duty onexact a tax ondemand a tax onassesschargetitherare:mulct
   • ▪ pay tax on (something, especially a vehicle): "the Land Rover slowly disintegrates and no one has bothered to tax it"
   • 2. make heavy demands on (someone's powers or resources): "she knew that the ordeal to come must tax all her strength" Similar strainstretchput a strain onmake demands onweigh heavily onweigh downburdenloadoverloadencumberpushpush too faroverwhelmtrytaskwear outexhaustsapdrainemptyenervatefatiguetirewearyweakenoverwork
   • 3. confront (someone) with a fault or wrongdoing: "why are you taxing me with these preposterous allegations?" Similar confrontaccusecall to accountchargeblamecensurecondemndenounceprosecutebring charges againstindictarraignincriminateimpeachinformal:point the finger atOpposite clearexonerate
   • 4. examine and assess (the costs of a case): "an officer taxing a bill of costs"

   Word Origin Middle English (also in the sense ‘estimate or determine the amount of a penalty or damages’, surviving in tax (sense 4 of the verb)): from Old French taxer, from Latin taxare ‘to censure, charge, compute’, perhaps from Greek tassein ‘fix’.

   Derivatives

   • 1. taxer noun
   • 2. taxless adjective

   Scrabble Points: 10

   • T

     1

   • A

     1

   • X

     8

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   More definitions, origin and scrabble points

2. groww.in › p › taxWhat is Tax - Definition & Types of Taxation in India - Groww

   groww.in › p › tax

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   A tax is a compulsory fee that is levied by a government on an individual or an organization to collect revenue for public works. Know more about the types of taxes, recent reforms, income tax, tax slabs, etc. on Groww.

3. groww.in › p › taxWhat is Goods and Services Tax (GST) in India - Types, Components...

   groww.in › p › tax

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   Components of Goods and Services Tax. What does it mean? State Goods and Services Tax (SGST) SGST refers to the tax payable on the sale of services and products within a state. It replaces previous taxes, including Value Added Tax, Entry Tax, State Sales Tax, Entertainment Tax, surcharges and cesses. Central Goods and Services Tax (CGST)

4. groww.in › p › taxWhat is Advance Tax Payment? How to Calculate It? - Groww

   groww.in › p › tax

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   Advance tax meaning, in simple words, would be paying tax liabilities before the end of a fiscal year, is called an advance tax or pay-as-you-earn scheme. It is payable when the tax liability of an individual exceeds Rs.10000 in a given fiscal year.

5. groww.in › p › taxCorporate Tax Overview - Meaning and Tax rates - Groww

   groww.in › p › tax

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   This blog delves into the fundamentals of corporate tax, including its purpose, calculation, rates and impact on businesses. What Is Corporate Tax? Corporate tax is a direct tax imposed by the government on the income or profits earned by a corporation.

6. groww.in › p › taxWhat is Value-Added Tax (VAT) in India? Definition & Types -...

   groww.in › p › tax

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   Value Added Tax Meaning - VAT is the tax which is charged on the gross margin at every stage in the sale of goods. Tax is assessed and collected at each point, starting from the manufacturer until the product reaches the retailer.

7. groww.in › p › taxTax Collected at Source [TCS] - Groww

   groww.in › p › tax

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   Tax Collected at Source is a tax payable by the seller but collected from the buyer. Discover TCS meaning, TCS applicability, rate of TCS, TCS Return due dates, etc, on Groww.

8. groww.in › p › taxWhat is Property Tax? - Types & Calculation - Groww

   groww.in › p › tax

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   Property tax can be paid on an annual or semi-annual basis. This tax varies with each location, city and state. How to Calculate Property Tax? Although the property tax is not unified across the country, the general guideline for its calculation is based on a mathematical formula. This formula is as below –

9. groww.in › p › taxWhat is Tax Deducted at Source - Groww

   groww.in › p › tax

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   Tax Deducted at Source is a type of advance tax that the Government of India levies on a periodic basis. The overall deducted TDS is claimed as a tax refund after a taxpayer files the Income Tax Return.

10. groww.in › p › taxSection 87A - Income Tax Rebate under Section 87A - Groww

    groww.in › p › tax

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    Income Tax Rebate 87A. The income tax rebate under Section 87A provides some relief to the taxpayers who fall under the tax category of 10%. Any individual whose annual net income does not exceed Rs.5 Lakh qualifies to claim tax rebate under Section 87A of the Income Tax Act, 1961.

11. groww.in › blog › old-vs-new-tax-regime-which-is-betterOld Vs New Tax Regime: Which is Better? - Groww

    groww.in › blog › old-vs-new-tax-regime-which-is-better

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    Jul 30, 2024 · Indian income tax system levies tax on individual taxpayers depending on our income level. Old vs new tax regime which is better? Let’s read on to find out more as the case may be different for different income slabs.