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What is direct tax & indirect tax
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Answer / durgaprasad m
Direct Tax r Income Tax & Wealth Tax
Indirect Tax r service tax, value aded tax, exiceduty, cst,
gst
| Is This Answer Correct ? | 10 Yes | 4 No |
Answer / rehan ahmed
direct taxes are those taxes which are levived on one
person directly inform of income & wealth tax , charge from
the unlimate user of service or product
while indirect taxes are those taxes which are levived on
person inform of sales tax ,VAT,customer or excise duty,i.e
taxes charged indirectly from the end users of service or
product.
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / mahanti pavan kumar
Direct Tax is a tax which has to be paid directly to the
Government concerned after proper evaluation of Taxes to be
paid.
Whereas Indirect Tax is Paid indirectly to Government
Concerned through VAT,Sales Tax,Service Tax etc charged by
the vendors from customers(+ the actual Price of the
Products).
| Is This Answer Correct ? | 6 Yes | 1 No |
Answer / gowtham
DIRECT TAX
direct taxes imposed on personal income and properties and
direct taxes cannot be shifted from one person to
another.the incident and impactof direct tax is on the on
the same persone for example . income tax,wealth tax,
property tax, and gift tax are direct taxes
INDIRECT TAX
indirect taxes levied on commodities and services. indirect
taxes may be shifted from one persone to another person
for example. entettainment tax, sales tax,and service tax
are some of indirect taxes
| Is This Answer Correct ? | 5 Yes | 0 No |
Answer / ratnakar silekar
DIRECT TAX:
Direct tax is paid by the any person (he/she maybe
individual,HUF,AOP,BOI,etc.)to government
directely.viz,income tax,wealth tax etc.
INDIRECT TAX:
Indirect tax is paid by the person through any person
indirectly.viz;VAT, service tax, custom duty etc.
| Is This Answer Correct ? | 5 Yes | 0 No |
Answer / k.venkatesan
The direct tax is which imposed one person only. Income
tax, Corporation tax, Wealth tax, Estate duty.
Indirect tax is sales tax, vat, modvat, custom duty, excise
duty,
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / tushar
The direct tax is directly levied and collected by the
goverment from the taxpayer, and the onus of such taxes
cannot be transfered to another individual/ taxpayer.
Whereas indirect tax is paid by one assessee/ individual at
the beginning,by the way of tax returns, but the onus of
such taxes are transfered to the ultimate consumer of the
product of service.
direct taxes are levied on income and wealth of the
individual, where as indirect taxes are levied through the
product and services purchased/ consumed by the ultimate
consumer.
| Is This Answer Correct ? | 3 Yes | 2 No |
Answer / biswal
Direct Taxes are those taxes which are directly goes to
Central Government and Indirect Taxes are those taxes that
goes to State Goverment.
| Is This Answer Correct ? | 3 Yes | 2 No |
Answer / fahim
Direct Tax : Government levy on the income, property, or
wealth of people or firms. A direct tax is borne entirely by
the entity that pays it, and cannot be passed on to another
entity; for example, corporation tax, income tax, and
national insurance contribution. Unlike the consumption
taxes (see indirect tax), direct taxes are based on 'ability
to pay' principle but (being very obvious to the tax payer)
they sometimes work as a disincentive to work harder and
earn more because that would mean paying more tax.
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / n ravi
The Direct tax is charged on individual, HUF, Firm and
companies depends on the income earned. In addition there
is provision for claiming rebate or deductions allowed from
the gross income and then NET taxazble income is arrived.
Finally if any individual does not have suffiicent income,
then he need not pay the direct tax.
On the other hand the Indirect Tax is charged on all the
buyer irrespective of their income. The advantage for
company registered under the excise, service tax, VAT, they
are allowed to avail the tax paid by them at the time of
purchase as input tax credit. This input tax credit is
allowed for adjusting the out put tax payments i.e tax
payable on sale of goods
| Is This Answer Correct ? | 2 Yes | 1 No |
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