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Income Tax

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Direct tax can be defined as a type of tax in which the incidence and impact of the tax are levied on the same person. It can be further explained as a type of tax in which the liability of paying the tax cannot be shifted to someone else. It is directly paid to the government by the assessee and not to anyone else. Direct Taxes are charged on every source of income earned by any individual or business residing in the country. Income Tax, Wealth Tax, Estate Tax, Corporate Tax, and Capital Gain Tax are some examples of Direct Tax in India.

Income Tax


Income Tax is a direct tax that is levied on any individual’s or entity’s income during a financial year. It is directly paid to the government, like all the other direct taxes. The net taxable income is considered to calculate the tax liability of the individual or entity based on the income slabs provided by the Income-tax Department for the current financial year. The amount of tax paid depends on the money earned by the individual in that particular financial year.

  1. What is Direct tax?
  2. What is Indirect Tax? Features and Types
  3. Difference between Direct and Indirect Tax
  4. Corporate Tax: Meaning, Corporate Tax Rate, Corporate Tax Rebates
  5. What is Income Tax? | Tax Slab | Deductions Allowed
  6. What is Capital Gain?|Types and Capital Gains Tax Exemption
  7. How to calculate Income Tax on salary (with example)?
  8. New Income Tax Slab for FY 2023-24
  9. How to Save Tax in FY 2023-24?
  10. Income Tax Exemptions and Deductions for Salaried Individuals
  11. Exempted Income: Meaning, and Types
  12. Types of ITR | Which ITR Should I File?
  13. How to File ITR?
  14. Documents required to file ITR
  15. What is Salary Slip?
  16. What is GST? Types, Features, Benefits, Input Tax Credit, GST Council
Last Updated : 21 Jun, 2023
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