Podcast
Questions and Answers
What are the two main categories into which taxes are broadly divided?
What are the two main categories into which taxes are broadly divided?
Direct tax and indirect tax
What is the main difference between direct tax and indirect tax?
What is the main difference between direct tax and indirect tax?
Direct tax is levied directly on income, while indirect tax shifts the burden to consumers of goods and services.
Give an example of a direct tax.
Give an example of a direct tax.
Income tax and wealth tax
What is the tax law that replaced various indirect taxes in India from July 1st, 2017?
What is the tax law that replaced various indirect taxes in India from July 1st, 2017?
How are indirect taxes different from direct taxes in terms of who bears the burden?
How are indirect taxes different from direct taxes in terms of who bears the burden?
What is the primary purpose of taxes levied by the government?
What is the primary purpose of taxes levied by the government?
What is the key distinction between direct and indirect taxes as described in the text?
What is the key distinction between direct and indirect taxes as described in the text?
Which of the following is NOT an example of a direct tax mentioned in the text?
Which of the following is NOT an example of a direct tax mentioned in the text?
What was the name of the tax law that replaced various indirect taxes in India from July 1st, 2017?
What was the name of the tax law that replaced various indirect taxes in India from July 1st, 2017?
What is the key characteristic of indirect taxes?
What is the key characteristic of indirect taxes?
