BUSINESS and TAX LAWS CLASSIFICATION OF TAX Direct - Cannot be shifted on others - Collects from pockets of earners out of their income - income Tax, Professional Tax, Wealth Tax, Estate Tax Indirect - Collected through manufacturer or service provider and sale of product and services. APPLICABILITY of income income from salaries - employer - employee relationship - Wages, salaries, pension gratuity, commission fees leave enc
BUSINESS and TAX LAWS CLASSIFICATION OF TAX Direct - Cannot be shifted on others - Collects from pockets of earners out of their income - income Tax, Professional Tax, Wealth Tax, Estate Tax…