Difference between direct and indirect tax class 12

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Direct and Indirect Taxes Tax is a charge enforced and collected by the Central or/and State government to provide for the administration and meeting requirements of the country such as running hospitals, schools, roads, military production, law enforcement, etc. In this article, we'll discuss the difference between direct and indirect tax, the difference between direct and indirect tax class 12, direct and indirect taxes in india, and much more. Types of Taxes in India The tax structure is broadly sub-categorized into two categories that are: Direct and Indirect Taxes. So how we can find the difference between direct tax and indirect tax class 12 What Is Direct Tax? Direct taxes are those taxes that are directly collected from and paid by the same person. The tax is charged and borne by the same person. These taxes are solely dependent on the income and wealth of a taxpayer. In India, the CBDT (Central Board of Direct Taxes), governed by the Department of Revenue, is responsible for the administration of direct taxes and is also involved in planning and providing inputs to the government regarding the implementation of direct taxes. Types of Direct Taxes in India Direct taxes are of the following types: Income Tax: This tax is imposed and collected by the Central government on the income of a taxable person. It is governed and administered by the Income Tax Act. The Income-tax slabs have been made relying on the various levels of income and groups of taxpayers. The catego...

Article I Section 9: Powers Denied Congress The Migration or Importation of such Persons as any of the States now existing shall think proper to admit, shall not be prohibited by the Congress prior to the Year one thousand eight hundred and eight, but a Tax or duty may be imposed on such Importation, not exceeding ten dollars for each Person. The Privilege of the Writ of Habeas Corpus shall not be suspended, unless when in Cases of Rebellion or Invasion the public Safety may require it. No Bill of Attainder or ex post facto Law shall be passed. No Capitation, or other direct, Tax shall be laid, unless in Proportion to the Census or Enumeration herein before directed to be taken. No Tax or Duty shall be laid on Articles exported from any State. No Preference shall be given by any Regulation of Commerce or Revenue to the Ports of one State over those of another: nor shall Vessels bound to, or from, one State, be obliged to enter, clear, or pay Duties in another. No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law; and a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time. No Title of Nobility shall be granted by the United States: And no Person holding any Office of Profit or Trust under them, shall, without the Consent of the Congress, accept of any present, Emolument, Office, or Title, of any kind whatever, from any King, Prince, or foreign State. Despite this essay’...

Direct Tax Indirect Tax 1 It is imposed on the income of a person based on the principle of ability to pay. The income tax burden is equitably distributed on different people and institutions. Thereby the tax burden falls more on the rich than on the poor. It is imposed on an individual but is paid by another person either partly or wholly. Hence, the impact and incidence of taxes are on different persons. 2 Tax burden cannot be shifted to another person. Tax burden can be shifted to another person. 3 Prices are not affected. Prices are affected because the price of the product is inclusive of tax. 4 Examples:- Income and property tax Examples:- Union excise duties and custom duties

Direct tax Indirect tax It is levied on income and activities conducted. It is levied on products or services. The burden of tax cannot be shifted in the case of direct tax. The burden of tax shifted for indirect taxes. It is paid for directly by the person concerned. It is paid by one person but he recovers the same from another person i.e. person who actually bears the tax ultimate consumer. It is paid after the income reaches the hands of the taxpayer It is paid before goods/service reaches the taxpayer. Tax collection is difficult. Tax collection is relatively easier. Example Income tax, wealth tax, etc. Example GST, excise duty custom duty sale tax service tax

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