pls let me know what is come under direct tax and what is under indirect tax
what is come under direct tax and what is under indirect tax
prakrut (accountant) (120 Points)
25 August 2009
Satish
(CA Final Student)
(479 Points)
Replied 25 August 2009
All taxes like income tax, Wealth tax are direct taxes. Excise duty, VAT, Service tax are indirect taxes
Ashish M
(Chartered Accountant)
(2731 Points)
Replied 26 August 2009
ALL TAXES WHICH ARE THE PERSONAL LIABILITY OF AN ASSESSEE COMES UNDER DIRECT. IT INCLUDES, INCOME TAX, PROFESSIONAL TAX, WEALTH TAX, SECURITIES TRANSACTION TAX, COMMODITY TRANSACTION TAX AND THE LIKE......
ON THE OTHER HAND, THE TAXES WHICH A PERSON CAN RECOVER FROM SOME OTHER PERSON BUT THE LIABILITY OF WHICH REMAINS OF THE PERSON COLLECTING SUCH TAXES ARE INDIRECT TAXES. THESE ARE CUSTOM DUTY, EXCISE, SERVICE TAX, VAT, CST AND THE LIKE......
Srinidhi BS
(Not applicable)
(24 Points)
Replied 03 February 2016
Professional tax comes under indirect taxation.
Rishu Gupta
(Others)
(38 Points)
Replied 03 February 2016
Assuming I have paid a indirect tax say Rs. 334000 in FY 15-16. Is there any limit on that same like people earning 5L can give x amount of service tax(indirect tax), 10L can give y amount of service tax(indirect tax) etc.
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)
CAclubindia
