Question

Classify the following as direct taxes and indirect taxes giving the reason thereof: 1. Income tax 2. Good s and Services tax 3. Corporate tax 4. Capital gain tax

Answer 1

Answer:

(i) It is a direct tax as its impact and incidence lie on the same person.

(ii) It is an indirect tax as its impact and incidence lie on different persons.

(iii) It is a direct tax as its impact and incidence lie on the same person.

(iv) It is a direct tax as its impact and incidence lie on the same person.

Explanation:

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