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What are direct and indirect taxes?
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Answer / ragaz
direct taxes are those which are tax on individuals or persons..
indirect taxes are those which are taxes on goods and services..
| Is This Answer Correct ? | 27 Yes | 4 No |
Answer / h.r. sreepada bhagi
Direct Taxes - Taxes levied by the Government on the
assessee and borne by the assessee (Individual, Firm, Trust,
HUF, Company, etc.) Direct taxes can not be passed on by the
assessee to some other person/entity. Examples - Income Tax,
Wealth Tax, Gift Tax, etc.
Indirect Taxes - Taxes levied by the Government on the
assessee, who in turn can pass on the burden on any other
individual/entity in full or part. Examples - Excise Duty
(Cenvat), Sales Tax(VAT/CST), Service Tax, etc.
| Is This Answer Correct ? | 16 Yes | 1 No |
Direct taxes are taxes paid BY PERSON on whom the tax is
levied (DIRECTLY TO GOVT)& he is only liable for this.
example: income tax, WEALTH TAX, ETC
indirect taxes are taxes Paid by someone else , collected
from other persons on behalf of govt. .example :sales tax,
service tax etc
| Is This Answer Correct ? | 7 Yes | 0 No |
Answer / anji.erajoli@gmail.com
irect taxes are those which are tax on individuals or persons..
indirect taxes are those which are taxes on goods and services..
| Is This Answer Correct ? | 10 Yes | 7 No |
Answer / gouthami
direct taxes are taxes paid by the person on whom the tax
is levied. example: income tax
indirect taxes are taxes levied on one person and paid by
the other person.example :sales tax
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / rajanikanta nath
Direct tax is nothing but the tax which is paid by the
individuals directly to the govt.e.g-income tax,wealth tax
gift tax etc.
Indirect tax is the tax which is paid by the individuals to
the govt. indirectly.e.g-vat,excise duty,cst,service tax
etc.
| Is This Answer Correct ? | 2 Yes | 4 No |
Answer / uttam mathur
direct taxex applies directly on the production relates
with the production like sales tax,rent whereas indirect
implies indirectly to the production like office tax octrai
| Is This Answer Correct ? | 0 Yes | 5 No |
Case Study: Deepak Hand tools Private Limited DHPL is a small sized firm manufacturing hand tools. It manufacturing plan is situated in Haryana. The company’s sales in the year ending on 31st March 2007 were Rs.1000 million (Rs.100 crore) on an asset base of Rs.650 million. The net profit of the company was Rs.76 million. The management of the company wants to improve profitability further. The required rate of return of the company is 14 percent. The company is currently considering an investment proposal. One is to expand its manufacturing capacity. The estimated cost of the new equipment is Rs.250 million. It is expected to have an economic life of 10 years. The accountant forecasts that net cash inflows would be Rs.45 million per annum for the first three years, Rs.68 million per annum from year four to year eight and for the remaining two years Rs.30million per annum. The plant can be sold for Rs.55 million at the end of its economic life. The company would need to raise debt to the extent of Rs.200 million. The company has the following options of borrowing Rs.200 million: a. The company can borrow funds from a nationalized bank at the interest rate of 14 percent for 10 years. It will be required to pay equal annual installment of interest and repayment of principal. b. A financial institution has offered to lend money to DHPL at 13.5 per annum but it needs to pay equated quarterly installment of interest and repayment of principal. Questions: 1. Should the company expand its capacity? Show the computation of NPV 2. What is the annual installment of bank loan? 3. Calculate the quarterly installments of the Financial Institution loan 4. Should the company borrow from the bank or from the financial institution?
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