Consider the following: (i) Personal income tax (ii) Capital gains tax (iii) Securities Transaction Tax…
Personal income tax, capital gains tax and Securities Transaction Tax are all classified as direct taxes. Income tax and tax on capital gains are charged on income, while…
Choose your answer
Consider the following:
(i) Personal income tax
(ii) Capital gains tax
(iii) Securities Transaction Tax
Which of these are direct taxes?
Answer and explanation
Correct answer A
Personal income tax, capital gains tax and Securities Transaction Tax are all classified as direct taxes. Income tax and tax on capital gains are charged on income, while Securities Transaction Tax is also included in direct-tax collections.
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Jammu & Kashmir and Ladakh SET (JKSET/LASET)