Which of the following taxes are direct taxes Income tax Securities transaction tax Corporation tax ...........

Economic Affairs Tax System

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Which of the following taxes are direct taxes?

Income tax
Securities transaction tax
Corporation tax
Capital gains tax
Excise duty

Select the correct code.

1,2,3&5 only

1,2,4&5 only

1,2,3&4 only

2,3,4&5 only

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Explanation:

Direct tax is a type of tax that is levied directly on taxpayers. Thus, it is a tax paid directly by an individual to the government. Examples of direct tax are: personal income tax, corporation tax, security transaction tax and capital gains tax. Excise duty is an indirect tax. Hence option 3rd is correct.