You must have heard about a saying – there are only two certain things in life, which are taxes and death. This actually indicates the behaviour of people who pay taxes considering it to be unavoidable. And you should accept that truth and know some basic terms about taxes.
With the use of the word "tax", we actually mean to say Income Taxes. These taxes should be paid by an individual for his or her annual earnings. More often than not tax day comes once in every one year. For a regular taxpayer he has to file for taxes.
For paying the taxes you have some deadlines. These deadlines may vary for different entities – like for individuals the deadline is one, for corporate bodies it might be other. The papers which need to be submitted for calculating your taxes are called tax returns. So you should always pay taxes and be a responsible citizen of the country.
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