Question

Business Firms collects direct taxes in the form of _____________ a. Tax Deducted at source from the salaries of the employees b. VAT on the goods and services provided c. Sales Tax on the goods and services provided d. GST-Gross Service Tax on the goods and services provided

Answer 1

Answer:

if it is multiple correct , then clear it , or the answer should be option b (vat tax)

Answer 2

Answer : a. Tax Deducted at source from the salaries of the employees.

Business firms collect direct taxes in the form of Tax Deducted at source (TDS) from the salaries of the employees.

Explanation :

Business firms collect direct taxes in the form of Tax Deducted at Source (TDS) from the salaries of the employees. TDS is a way of collecting income tax at the source of income. It is the tax that is deducted by an employer from an employee's salary before making payment to the employee. The employer is responsible for deducting TDS and depositing it with the government.

• Value-Added Tax (VAT) is a tax on the value added to goods and services during production and distribution. VAT is generally paid by the final consumer, but it is collected and remitted to the government by businesses.

• Sales Tax is a tax on the sale of goods and services, and it is typically paid by the end consumer. Sales tax is collected by the seller and remitted to the government.

• Goods and Services Tax (GST) is a comprehensive indirect tax that is imposed on the manufacture, sale, and consumption of goods and services. GST is collected by the government and businesses are responsible for remitting the GST they collect to the government.

In short, Business firms collect TDS, VAT and GST which are direct taxes imposed on goods and services provided but not sales tax which is only collected by the seller and remitted to the government.

To know more about the concept please go through the links :

https://brainly.in/question/13920487

https://brainly.in/question/48070872

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