Unlike direct taxes, which are levied based on a taxpayer’s ability to pay, indirect taxes apply uniformly, regardless of an individual’s financial situation. As a result, lower-income ...

This is different to direct taxes which you pay based on your income and, potentially, your wealth, such as income tax, capital gains tax and inheritance tax. Types of indirect tax Indirect taxes ...

This is different to direct taxes which you pay based on your income and, potentially, your wealth, such as income tax, capital gains tax and inheritance tax. Indirect taxes typically fall into ...

As regards personal income tax (PIT), 8.1 crore income tax returns (ITRs) were filed in FY24, a mere 6% of our total population. Assuming there is only one taxpaying member in each family, which of ...

The Union Budget, which focused on economic expansion, infrastructure development, MSMEs, futuristic cities, and middle-class ...

Indirect taxes are charged on goods and services, not on income or profits. These taxes are collected by businesses, such as retailers or producers, who then pass the payments to the government. The ...

The RBI in its latest bulletin stated that tax relief is expected to enhance disposable incomes and provide a boost to ...

This Bill is a much-awaited comprehensive overhaul of a gargantuan piece of complex legislation which should be ...

As the Union Budget 2025 approaches, debates over tax reforms have reignited frustrations among the middle class about the disproportionate tax burden they bear and the lack of adequate public ...

Broadly, there are two categories of taxes: direct and indirect. Direct taxes are progressive levies, including income tax, wealth tax, and capital gains tax, wherein individuals with greater income ...

The lesson of history is that the aggregate demand plays an important role in sustaining the level of economic activity.

For every rupee in the government coffer, the biggest pie of 66 paise will come from direct and indirect taxes, according to the Union Budget 2025-26 documents. Around 24 paise will come from ...