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India's gross direct tax collection increased by 17.95 per cent on the year to Rs 11.07 lakh crore as of October 2023 Net collections stood at Rs. 9.57 lakh crore, 21.82 per cent higher than net collections for the comparable period of last year As far as Corporate Income Tax (CIT) and Personal Income Tax (PIT) in terms of gross revenue collections are concerned, the growth rate for CIT is 7.30 per cent while that for PIT is about 29 per cent Direct tax is a type of tax where the incidence and impact of taxation fall on the same entity.In the case of direct tax, the burden can’t be shifted by the taxpayer to someone else. These are largely taxes on income or wealth. Income tax, corporation tax, property tax, inheritance tax and gift tax are examples of direct tax Corporate Income Tax - The income-tax paid by domestic companies, and foreign companies on their income in India is corporate income-tax (CIT). The CIT is at a specific rate as prescribed by the income tax act subject to the changes in the rates in the union budget every year.Personal Income Tax-The income-tax paid by the individual taxpayers is the personal income tax. Individuals get taxed on the basis of tax slabs at different rates
A person can complete a work in 15 days, and another person can complete the same work in 20 days. They work together for 5 days, and then the first per...
P and Q can complete a work in 26 days and 39 days, respectively. P, Q and R together can complete the work in 13 days. If R get a total wage of Rs. 585...
X can do a piece of work in 30 days. He worked at it for 5 days and then Y finished it in 20 days. In how many days can X and Y together finish the work?
Ishan alone can do a certain piece of work in 'w' days and Bhanumati can do it in '2w' days (w is a positive integer). Both together can do the work in ...
A alone can do a piece work in 15 days and the time taken by A alone is 50% more than the time taken by B. They started work together alternatively star...
Arjun and Bheem can do a piece of work in 8 and 10 days respectively. If they started the work together and worked on it for 3 days, then find the time ...
‘A’ alone can complete a work in 50 hours. ‘A’ started the work alone and left after working on it for 20 hours. If ‘B’ completed the rest o...
A and B together can do a work in 8 days. If A can alone do the same work in 12 days, then in how many days B alone will do the same work?
