Direct and Indirect Taxes in India
What are Direct Taxes?
- Income Tax: Paid by individuals and companies on their earnings.
- Corporate Tax: Tax on company profits.
- Capital Gains Tax: Tax on profits from the sale of assets.
How We Help You with Tax Compliance
✅ Income Tax and Corporate Tax filing and planning
✅ GST registration, filing, and compliance
✅ Customs duty and excise duty consultancy
✅ Tax audit and advisory services
✅ Handling notices and assessments
Direct & Indirect Tax
Taxes form the backbone of any economy, helping governments fund public services and infrastructure. In India, taxes are broadly classified into two categories: Direct Taxes and Indirect Taxes. Understanding these tax types is essential for businesses and individuals to comply with laws and optimize tax planning. Direct Taxes are those taxes that are directly paid by an individual or entity to the government. The burden of these taxes cannot be shifted to anyone else. These taxes are based on income, wealth, or profits.
FAQs – Direct & Indirect Taxes
Q. What is GST?
Goods and Services Tax (GST) is a single tax on the supply of goods and services, replacing multiple indirect taxes.
Q. Are direct taxes progressive?
Yes, direct taxes like income tax are progressive based on income slabs.
Q. Can indirect tax burden be shifted?
Yes, the tax paid by the supplier can be passed on to the consumer in the price of goods or services.
