What is Tax & Compliances?
Tax is fees levied on products and services by a private, a corporation, or a government to get revenue. The quantity accumulated through tax is employed for executing public welfare programs. Penalty charges apply to those evading tax if a tax notice goes unacknowledged by the taxpayer, if the taxpayer provides false information regarding their income to evade tax, or those that refrain from paying tax or default payments. There are provisions within the IPC to require strict actions against tax evaders and defaulters.