Direct Taxes – A Detailed Review by Indian Money
Do you want to know what is meant by direct taxes and are
there several types of these taxes that you need to be wary of? Our aim here
will be to explore all the details with respect to direct taxes in the
following Indian Money review.
Analysis of Different
Types of Direct Taxes
These are the taxes which are to be paid by individuals and
businesses to our government. According to review
by IndianMoney.com Bangalore, direct
taxes are charge based on profit levels as well as income earned by individuals
and entities. As such, if someone is earning higher income then tax rate will
be more.
Let us now explore the different types of direct taxes that are
charged by our government.
Types of Taxes
Income Tax
According to Indian Money dot com Bangalore, income
tax is charged based on income earned by the tax payer. In addition, this type
of tax the taxable income is the basis for calculating the tax amount. Let us
explore the categories as per which calculation is done for income tax.
Income earned from salary
Capital gains
Income earned by professionals and
businesses
Income earned from rest of the sources
Income made from property
Wealth Tax
If someone is making gains out of property people own then
they have to give wealth tax. This tax is calculated according to property’s
market price.
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