Which one of the following is a Direct Tax?

Answered
  • Sales tax
  • Excise duty                  
  • Customs duty      
  • Wealth tax
Monis Rasool Professor Asked on 1st May 2015 in Finance.
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    Wealth tax

    Taxation plays a very significant role for collecting the revenue for a government. As per the nature of tax incidence, tax are classified into two broad categories;

    • Direct tax
    • Indirect tax

    Direct Tax: Taxes which can not be shifted on other are known as direct tax, In other words tax liability and the payment of tax lies on the same person and he cannot recover from other for e.g. Income tax, Wealth tax are direct tax.

    RE: Which one of the following is a Direct Tax?


    Indirect tax: Taxes which can be shifted on other are known as Indirect tax, In other words tax payer recovers the tax amount from other i.e. clients, customers, subscribers, policy holders etc. example indirect tax are Service tax, Sales tax, Excise duty etc.

    Monis Rasool Professor Answered on 3rd May 2015.
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    wealth tax

    gaur453 Default Answered on 2nd May 2015.
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