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Tax is a financial charge which is imposed on an individual or corporates on what they earn.<br>This is done to provide various facilities to public like roads, hospitals, public schools etc.<br><br>There are mainly two types of tax :<br>1. Direct Tax<br>2. indirect Tax<br>
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Tax consultancy services in jaipur 01
TAX ? 02 Lucky Perez Scientist and Researcher
There are mainly two types of tax : 1. Direct Tax 2. Indirect Tax
Direct tax is imposed by government directly on income of entity. It includes : 1. Income Tax 2. Wealth Tax 3. Gift Tax 4. Capital Gains Tax 5. Property Tax 6. Corporation Tax 7. Expenditure Tax
Indirect tax Indirect tax is imposed on the items which are consumed by consumer. There were various taxes in India but from July 1, 2017 all tax were abolished and a single GST (Goods and Services Tax) was implemented to bring uniformity. However Alcoholic Drinks, Petroleum Products and Electricity are kept outside it.
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