In India... the list of direct and indirect taxes.. is as following.. Direct Tax: Income tax corporation tax property tax inheritence (estate) tax & gift tax Indirect tax: customs duty, central excise duty, service tax, sales tax, value added tax (VAT), securities transaction tax
As many people know, the state and federal government level taxes are the direct form of taxation;for example, corporate taxes are another form of direct tax--those taxes levied against income earned by corporations. soc sec , medicare, estate and gift taxes are more types of direct tax, as is the income tax charged by the state you live in. The simple definition of a direct tax is one that you have no choice in paying.
The tax percentage for the gift tax is generally 45 percent.
90000 dollars is the gift tax of a gift of 200000 dollars.
direct tax
Toll tax is a direct tax
gift = no sales tax
difference b/w direct tax and indirect tax
direct tax
The two examples of direct tax is Income tax and Wealth tax.
An income tax is an example of direct tax.
Gift tax, when applicable, is paid by the one giving the gift,