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DIRECT TAX DIRECT TAX

ITS MERITS AND DEMERITSITS MERITS AND DEMERITS

INTRODUCTIONINTRODUCTION

A direct tax is a kind of charge, which A direct tax is a kind of charge, which is imposed directly on the taxpayer.is imposed directly on the taxpayer.

The example of direct tax include The example of direct tax include property tax and income tax property tax and income tax alternatively.alternatively.

It can be said that direct tax is one that It can be said that direct tax is one that is taken away from one's salary, wages.is taken away from one's salary, wages.

When the tax is imposed by the When the tax is imposed by the government upon the property then it government upon the property then it is called property tax; is also called tax.is called property tax; is also called tax.

DIRECT TAX OF INDIADIRECT TAX OF INDIA

In India all the direct tax related In India all the direct tax related matters are taken care by the matters are taken care by the CENTRAL BOARD OF DIRECT CENTRAL BOARD OF DIRECT TAX(CBDT).TAX(CBDT).

IT Function under the control of IT Function under the control of CENTRAL BOARD OF REVENUE ACT CENTRAL BOARD OF REVENUE ACT 1963.1963.

EXAMPLES OF DIRECT TAXEXAMPLES OF DIRECT TAX

some of the examples of direct taxes some of the examples of direct taxes include capital gain tax, personal include capital gain tax, personal income tax, tax on corporate income tax, tax on corporate income,& tax incentivesincome,& tax incentives..

MERITSMERITS

Easy to collect as it is fixed and collected Easy to collect as it is fixed and collected directly from source.directly from source.

No intermediate is there ,so thereare less No intermediate is there ,so thereare less chances of correction.chances of correction.

Makes the people more responsibility.Makes the people more responsibility. Imposed in a progressive rate.Imposed in a progressive rate.

DEMERITSDEMERITS

They are quite unpopular among the They are quite unpopular among the people because a large part of their people because a large part of their income goes in a single waves.income goes in a single waves.

It is easier for people to evade It is easier for people to evade taxes . so less transparency in the taxes . so less transparency in the system.system.

It directly affect the purchasing It directly affect the purchasing power of people.power of people.

CONCLUTIONCONCLUTION

►Every citizens should have the Every citizens should have the obligation to pay all kinds of tax and obligation to pay all kinds of tax and would take part in the development of would take part in the development of our country.our country.

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