The end of the financial year is synonymous with chaos as businesses and individuals rush to get their taxes filed. Last-minute adjustments to accounts, searching for receipts, tracking expenses, etc., are commonplace during this time. Amidst the hustle, you are also trying to save as much as you can through tax benefits. If that isn’t enough, there are also tax jargons to deal with. Have you ever come across technical taxation terms and found yourself lost? Let’s say the impact of tax, tax incidence, and tax shifting. Now, you might be wondering what the meaning of the incidence of tax is or what is the impact of taxation! Since they sound complex, many avoid them or leave someone else to understand them. But getting to know these terms can be helpful in deciphering your tax burden and making the most of taxation time to improve savings. To help you out, here is a simple explanation for these terms. Decoding Impact Incidence and Shifting of Taxation Im...