Tax system in India
Taxes can basically be divided into 2 Categories- 1. Direct Tax: These are the taxes which are levied directly on the Income earned and is therefore known as Direct Taxes. 2. Indirect Tax : These taxes are not directly levied on the Income earned but are levied on the Expenditure . DIRECT TAXThese types of taxes are levied by the Central Govt and therefore the rates of taxes are uniform throughout the country . Various types of Direct Taxes are :-1. Income Tax :The most common form of tax isthe Income Tax which is levied on the Income of all Individuals. …