Taxation is a kind of charges on citizen or business houses which Government of any country cover or impose to meet their expenditure. These charges that are covered by the citizens of a country is termed as taxes. These taxes are used by the Government for the betterment of the nation as a whole. These plays a very significant role in the development of a country. Taxation is a system of earning funds which in turn, provide the countries financial support. The taxes are of varied forms. Some of the important taxes are: –