Answer Posted / 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 |
Post New Answer View All Answers
plz send me the accounting questions and answers of bank of america.
whts is the meaning of over cost and under cost, what is difference ?
all of interview question about coop bank of oromia
How do you manage the sales account in tally
recently release the 6.0 version not succede in the market why?
what is the frienge benefits tax?what is usefull?
give the examples of Error of Duplication?and Error of compensatin? with entries
Zee Ltd. uses material—A for the production of Product M. The safety stock of material A is 300 units; the supplier quotes a delivery delay of two or three weeks. If the company uses 500 to 800 units a week according to the activity levels, the re–order level of material–A will be A. 2300 units; B. 2400 units; C. 2700 units; D. 28 units.
Sales for ABC Company were Rs.150,000 for 2003.The beginning inventory was 30% of the cost of goods sold.The ending inventory was 50% of the beginning invetory.Selling expenses were 10% of sales and absorbed 30% sales.Income taxes were 30% of net income before taxes.
what about case study
Name some errors which can be detected by Trial Balance
how to prepare the balance sheet of private ltd. company & what roll should be play by Income tax, compnay law & accounting standard in India & world.
outstanding expenses are the expenses that "unpaid"at the end of the accounting period e.g.salaries rent so they all come to under nominal accounts which is debt all expenses and losses and credit all gains since they are unpaid hence they must be credited
KINDLY PROVIDE ME RBI OFFICER SCALE B QUESTION PAPER (PREVIOUS)
define bank Draft