The word “taxation” appears from Latin word “taxatio” which
means selects the amount of payable on accounts. Taxing authority selects this tax
to be payable by the taxpayer. As a result tax is such income which is
collected by the government from people and organizations under different
taxing acts.
Other side, tax is liability for ordinary people &
organizations which will be gone by paying it to government.
According to Justice Holmes:-
From this above discussion we can say that tax is liability
for ordinary people or organizations & income for government which is
collected under different taxing acts for maintaining a country peacefully.
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