What are direct and indirect taxes?

Answers were Sorted based on User's Feedback



What are direct and indirect taxes?..

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

What are direct and indirect taxes?..

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

What are direct and indirect taxes?..

Answer / vikas kapoor

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

What are direct and indirect taxes?..

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

What are direct and indirect taxes?..

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

What are direct and indirect taxes?..

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

What are direct and indirect taxes?..

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

Post New Answer

More Accounting General Interview Questions

What is dd and a in oil and gas accounting?

0 Answers  


usualy what they are expecting source of knowledge while in interview

2 Answers   MAHINDRA,


purchasing of software more than Rs.8000/- will be treated as expense or assets

9 Answers   ASD Lab, Dominos,


what is the provisional of salary?

3 Answers   AgriGold,


What is a bank account balance?

1 Answers   Accounting, ICICI,






What are the fictitious assets?

0 Answers  


capcity utillization

0 Answers  


what are the document that get created in procurement to pay process ?

2 Answers   Servis,


claim of workers pf esic contribution as expenditure in profi & loss a/c under head manufacturing or Administrative exp ?

2 Answers  


what's the mean by Imprest system? Please give me Replay on this no. 9885789716

0 Answers  


What is 3/3 in Procure to pay (p2p) in Accounts Payable?

0 Answers   Accenture,


If drs are deducting amt as TDS , how entry will be passed in books? pls clarify

2 Answers   HLL,


Categories