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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 Professional Tax? Tax slab rates and How to pay P tax? -...

   groww.in › p › tax

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   Everything to know about professional tax slab rate in India. Learn about what is professional tax, tax limit and online payment for professional tax

4. groww.in › blog › what-is-taxpayer-identification-number-tinWhat is Taxpayer Identification Number (TIN) - Groww

   groww.in › blog › what-is-taxpayer-identification-number-tin

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   Jul 9, 2024 · This tax ID in India is crucial for submitting VAT returns, seeking input tax credits, and meeting other VAT obligations. TIN promotes transparency and accountability in tax systems, discouraging tax avoidance and ensuring smooth business transactions.

5. groww.in › blog › advantages-and-disadvantages-of-elssPros and Cons of ELSS Tax Saving Mutual Funds - Groww

   groww.in › blog › advantages-and-disadvantages-of-elss

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   Jul 24, 2024 · Amount invested in an ELSS fund is available for a tax deduction to the extent of ₹150,000 for the current financial year under section 80C of the Income Tax Act. This is the only scheme that allows investors to save on tax while earning high returns from investment in equity funds.

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

   groww.in › p › tax

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   Property tax is a sum of an amount that is paid by a landowner to the government. Know about the types of property tax, calculations and exemptions. Property Tax - Types, Calculation & Payment

7. groww.in › blog › how-gains-from-intraday-trading-are-taxedHow Gains from Intraday Trading are Taxed? - Groww

   groww.in › blog › how-gains-from-intraday-trading-are-taxed

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   May 20, 2024 · Intraday transactions are speculative in nature and hence, the income from these trades is called speculative business income. Income tax on intraday trading profit in india comes under this category. There is no separate speculative income tax rate in India as it is taxed according to your income tax slab. Non-Speculative Business Income

8. 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)

9. groww.in › p › taxIncome Tax in India - How to File Income Tax Return? - Groww

   groww.in › p › tax

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   Income tax is a type of tax charged by the government on the income earned by individuals or businesses during a certain financial year. Based on the income tax slab, it is computed every financial year. What is Income Tax. Decoding income tax meaning is simple.

10. groww.in › blog › sip-everything-wanted-know13 Things You Should Know About Systematic Investment Plan -...

    groww.in › blog › sip-everything-wanted-know

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    May 17, 2024 · If you use SIP to invest in tax saving ELSS mutual funds, you can save tax too. You can claim tax deductions of up to ₹1.5 lakh under Section 80C by investing in ELSS mutual funds. To take benefit of ELSS mutual funds via SIP, make sure the total of all your SIPs in a financial year is ₹1.5 lakhs.

11. groww.in › p › taxSection 10 of Income Tax Act - Meaning & Exemptions - Groww

    groww.in › p › tax

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    Meaning of Section 10 of Income Tax Act. As you calculate your tax liability and file your income tax returns, it is important to be aware of the exemptions (tax deductions) that you can claim. These exemptions apply to certain income sources that are not included in your total income.