Direct Tax and Indirect Tax
Direct tax and indirect tax are two different types of taxes that are levied by the government on individuals and entities.
Directtax is a tax that is levied directly on the income or wealth of an individual or entity. The tax liability is determined based on the income or wealth of the taxpayer. Examples of direct taxes include income tax, property tax, and corporate tax.
On the other hand, indirect tax is a tax that is levied on goods and services. The tax liability is not determin based on the income or wealth of the taxpayer, but on the price of goods and services. Examples of indirect taxes include GST, sales tax, value-added tax (VAT), excise duty, and customs duty.
In summary, the key difference between directtax and indirect tax is that the former is levy directly on the income or wealth of an individual or entity, while the latter is levied on goods and services.
To visit: https://www.incometax.gov.in
