Direct Taxation

There are two types of taxes that the Indian government levies on its citizens – direct tax and indirect tax.

Direct taxes are those which are paid directly to the Government by the taxpayer.These taxes are not paid deducted and paid on behalf of the taxpayer. It’s imposed on the people and organizations directly by the government. This tax liability has to be paid by the taxpayer in question and cannot be transferred to any other entity for payment. As of now, Income Tax is the main tax which comes under Direct Taxation in India which is governed by the Income Tax Act, 1961 & the rules & regulations made thereunder. Central Board of Direct Taxes, Ministry of Finance is the regulator in India for Direct Taxes.

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