tax regulations

Tax regulations are the rules that determine how much money individuals and businesses must pay to the government, and how those payments are calculated. They specify what income, expenses, and deductions are taxable, as well as the deadlines for filing returns. These rules ensure fair collection of revenue to fund public services like education, healthcare, and infrastructure. Compliance involves accurately reporting income, claiming allowable deductions, and paying owed taxes on time. Understanding these regulations helps avoid penalties and ensures proper contribution to society’s needs. They are periodically updated by authorities to reflect economic changes and policy priorities.