what is Tax?

[bilal azhar]

so how would u people define tax.i want a general definition,not a definition which is given in the ITO,2001.

bilal

[bilal azhar]

is it a fine or penalty or compulsory payment or something else?

bilal

[maani]

it is a part of your income that u give to the government for your country's benefit...

Ace

[bilal azhar]

Maani,what would u say about toll tax and sales tax.is it deducted from our income.i think u are talking about income tax but i am asking about general definition of tax and not any particular type like income,sale,wealth,toll tax etc.

bilal

[farazthegreat]

A payment made to the government used for the betterment of the state.

... Just made it up myself.

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A fine is a tax for doing wrong. A tax is a fine for doing well.

[Desert Sleet]

Any money levied by a government on it's people to use for state services.

Faraz what about the defination embedded in your Signature. [)]
<blockquote id="quote"><font size="1" face="Verdana, Tahoma, Arial" id="quote">quote<hr height="1" noshade id="quote">fine is a tax for doing wrong. <b>A tax is a fine for doing well</b>.<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">


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If I could... Then I would... Turn back time!!

[bilal azhar]

i am not too sure whether u can call a tax as a fine.
"A tax is a compulsory payment to the govt"

bilal

[bilal azhar]

i have another question.can anybody answer it.

a "subsidy" is a financial support given by the govt.now my question is that
"can subsidy be paid out of taxes"

waiting for ur kind replies.

bilal

[Desert Sleet]

<blockquote id="quote"><font size="1" face="Verdana, Tahoma, Arial" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by bilal azhar</i>
<br />i have another question.can anybody answer it.

a "subsidy" is a financial support given by the govt.now my question is that
"can subsidy be paid out of taxes"

waiting for ur kind replies.

bilal
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
That's the definition of an overt subsidy.. there are many other ways to give a subsidy without being so blatant.


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If I could... Then I would... Turn back time!!

[bilal azhar]

Desert sleet are u trying to say that overt subsidy is given out of taxes.if yes then what kind of taxes.as far as i know no subsidy can be given out of taxes.

Also please mention the other ways of giving subsidy.

bilal

[Shahid_fss]

All members here have read the books. It means that we should close down this forum and read the books only. Forum is for ideas and you should provide your openion. Put you own definition if you are interesting.

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`*`*`*` and Smiling;
*`````* Always.
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[khurram_jamal]

[p] WHY YOU ARE WORRY YAR ***INCOME TAX*** KI BOOK HAY NA[8D]

PLEASE TRY TO STUDYIN THE BOOK

THANKS

WISH YOU ALL THE BEST

KHURRAM JAMAL KHAN (MBA)(CA-Module-C)

[bilal azhar]

KHurram i would seriously advise u to firstly understand what one is trying to ask and then starts replying.

This forum is for general discussion and every body is at general libery to ask what he wants.

i would recommend u to firstly study this whole topic,then study income tax ordinance 2001 and if the definition which i required is given in the ordinanc,then please write it here.if it is not given(which is the case) then please shut ur mouth up.

Shahid fss had already replied to ur similar post which u deleted after his post.so dont dare to delete ur post this time.And please dont do these cheap things.

Lastly if anybody knows the answer regarding my subsidy question then please answer it because i still dont know whether a subsidy can be given out of taxes or not.
bilal

Edited by - bilal azhar on May 10 2005 022837 AM

[Shahid_fss]

<blockquote id="quote"><font size="1" face="Verdana, Tahoma, Arial" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by bilal azhar</i>
<br />so how would u people define tax.i want a general definition,not a definition which is given in the ITO,2001.

bilal
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">

<b><u>Just for referance</u></b>
"Tax means any tax imposed under the income tax law. It also inclueds any penalty, fee or other charges or any sum or amount leviable or payable under the Income Tax ordinance, 2001." <b>Section 2(63)</b>

<b><u>Well in my openion</u> </b>
<ul><li>Tax is a source of income for the government.</li>
<li>Tax is a fee charged by government for its services.</li>
<li>Tax is not only spent but is also collected for the benefit of country.</li></ul>

========================
```*``` I love stars;
*`*`*`* Shining;
`*`*`*` and Smiling;
*`````* Always.
------------------------
[email protected]
http//www.shahid-fss.tk
========================

[fahim239]

<blockquote id="quote"><font size="1" face="Verdana, Tahoma, Arial" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by bilal azhar</i>
<br />is it a fine or penalty or compulsory payment or something else?

bilal
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">

Bilal tax is a fine for doing well whereas a fine is a tax for doing wrong!

«•´`•.(*•.¸(`•.¸ ¸.•´)¸.•*).•´`•»
«................. Fahim .................»
«•´`•.(¸.•*(¸.•´ `•.¸)*•.¸).•´`•»