Can you name,how many type of taxes are there in India?
Securities Transaction Tax, Personal Income Tax and Tax Incentives. Indirect Taxes
are generally levied on some specified services or some particular goods some of them are Anti Dumping Duty, Custom Duty, Excise Duty, Sales Tax, Service Tax and Value Added Tax. apart from this our nation has got the prevalence of many other taxes. like Consumption Tax, Death Tax, Dividend Tax, Endowment Tax, Estate Tax, Flat Tax, Fuel Tax, Gift Tax, Inheritance Tax and Sales Tax, S. E. T. or Self Employment Tax, Social Security Tax, Transfer Tax, Payroll Tax , Poll Tax, Property Tax and Wealth Tax a ...more
Taxes in IndiaIncome Tax: This is one of the most common types of tax and most of you would be familiar with it. This tax is deducted directly from your income if your income exceeds the taxable limit.
Capital Gains Tax:This tax is levied if you sell your property, bonds, shares, jewelry, or anything that gives you profit. The profit can be calculated by deducting the total amount you get by selling your asset and the amount you paid for it. You have to pay tax on the profit.
Securities Transactions Tax: When you buy or sell a stock form the share market, you have to pay Securities Transaction Tax. This tax is imposed by the Government because the most of the people who earn their profits from the share market do not declare their assets. As a result, they can avoid paying capital gain tax, as the government can levy tax only on the profits they earn, if these are not declared. The Securities Transactions Tax or ...more