A Levy is a charge, tax, or fee imposed by the government or an authority on individuals, businesses, or transactions.
A levy is a mandatory financial charge collected by governments or regulatory authorities to fund public services or regulate certain activities. It can apply to income, goods, services, or specific transactions.
Levy is a broad term and may include taxes, duties, or cess imposed by authorities like the Income Tax Department India or government bodies.
"The government imposes a 4% health and education cess on income tax—this is a type of levy."