Types of Tax in India

A tax is a compulsory financial charge or levy imposed by a government on individuals, businesses, or other entities to fund public expenditures and government activities.

Types of Tax

Direct Tax

• Direct taxes are taxes that are imposed on individuals or entities directly by the government. These taxes are paid directly to the government by the person or organization on whom they are levied.

Types of Direct Tax

• Income Tax: Income Tax in India applies to individuals, Hindu undivided families, unregistered businesses, and other groups. The tax system is progressive, meaning the tax rate increases with higher income levels. ....