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 ...

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 ...

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 ...

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 ...

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

Hence, the longer the recession, the larger will be the budget deficit. The composition of direct and indirect taxes in total tax revenue is 37% and 63%, respectively. The withholding component ...

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 ...

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.