Interested to Buy Any Domain ? << Click Here >> for more details...
what is the difference between direct tax and indirect tax
- 2 Answers
- 8888 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / megha rakshe
A direct tax is one paid directly to the government by the
persons (juristic or natural) on whom it is imposed (often
accompanied by a tax return filed by the taxpayer). Examples
include some income taxes, some corporate taxes, and
transfer taxes such as estate (inheritance) tax and gift tax.
An indirect tax (such as sales tax, value added tax (VAT),
or goods and services tax (GST)) is a tax collected by an
intermediary (such as a retail store) from the person who
bears the ultimate economic burden of the tax (such as the
customer)
| Is This Answer Correct ? | 0 Yes | 2 No |
Answer / brjsh-9899449348-brjshgupta26@
LEVIED = Direct Tax Levied on persons for Income earned or
for Activities Conducted whereas Indirect Tax Levied on
Products and Services.
INCIDENCE OF BURDEN = Direct Tax borne by the person
himself on whom it is levied whereas borne by the ultimate
Consumer of Product or Services.
COLLECTION OF TAX = In Direct Tax Collection of Tax is
Difficult whereas in In-direct Tax collection of Tax is
easier.
SHIFTING OF BURDEN = In Direct Tax there is no shifting of
burden whereas in In-direct Tax , burden is shifted to
ultimate consumer.
EXAMPLES = Examples of Direct Tax are Income Tax, Wealth
Tax, Professional Tax,House Tax, Water Tax, Electricity Tax
etc.Examples of In-direct Tax are Sales Tax (VAT), Custom
Duty,Services Tax, Excise Duty etc.
| Is This Answer Correct ? | 2 Yes | 5 No |
What do you understand by the rule of law?
IN E-1 AND C SALES WHETHER 1ST BUYER CAN SELL / TRANSFER THE TITLE OF GOODS TO 2ND BUYER IN THE SAME STATE WHEN 1 ST BUYER PURCHASED FROM OTHER STATE USING HIS ROAD PERMIT?
what is the status of companies regarding merger, demerger and amalgamation in India ?
what is the minimum age to become aprime minister in india?
We will be receive Form-F from Our Delhi Unit but he tell us that FORM -F issue quarterly . But our Noida Sales Tax Deptt. required Monthly For the F.Y.2006-07 & 2007-08
what are the general requirements ( legal ) to start a small bussiness like cafe in tamilnadu?
I am worrking tcs for last 1.8 years.I took leave from april due to health problem arise during my first pregnancy.They approve my leave till may 15,2012.after that i spoke to hr saying my siuation and they ask me to wait to get approve leave till my delivery(nov 2012).Aguest first week i got call from another team from tcs and they doesn't accept my condition.they are force me to send resign letter to the hr.Now they ask me Rs 120000 for final settlement.I dont know what.I agree to pay my bond amount rs 50000 + i month basic pay.They are therd me.Please answer as soon as possible
What is a Queen's Counsel and how does one become one?
what is the rule of WCT TAx refund in the state of jammu & kashmir.if we don't have sales tax registration number in J&K state.we are the Ups supplier from other State.we have the trading business only.
What is the TDS rules for a NRI who is partner in Partnership Firm in India and on retirement he gets Rs. 150 Lacs equal to the credit balance in his capital account. This credit in his capital account has come on account of revaluation of immovable property owned by thr firm. What is the Firm's liability towards income tax on revaluation of immovable property and what are the obligation of TDS while making payment to the NRI.
What is the full form of AIR?
24 Answers AirIndia, AJ Square Inc, Sail, United Textiles,
Which laws could we introduce to curb the obesity epidemic?
-
Law AllOther (806)
