General Knowledge - Indian Economy - Discussion

Can any one explain in detail ?

This question doesn't hold any more as in 2011-2012 the contribution of the direct tax is 56.3% and indirect tax is 43.7%.

(Please correct me if I am wrong).

Direct Taxes are the taxes that are levied on the income of individuals or organisations. Income tax, corporate tax, inheritance tax are some instances of direct taxation. Income tax is the tax levied on individual income from various sources like salaries, investments, interest etc. Corporate tax is the tax paid by companies or firms on the incomes they earn.

Indirect taxes are those paid by consumers when they buy goods and services. These include excise and customs duties. Customs duty is the charge levied when goods are imported into the country, and is paid by the importer or exporter. Excise duty is a levy paid by the manufacturer on items manufactured within the country. Usually, these charges are passed on to the consumer.

Whether service tax levied by builders imposed on consumers for construction of flats are in practical should be paid by builder or consumer. Its the biggest and most crucial question to be decided because on every walk of life it is the consumer who is made to pay all taxes and suffer till last.

There is no difference between Britishers and govt of India policy on taxation. I realize only one tax is left and govt can impose that tax also and the day is not far i.e tax on care inaction of dead body. We are still under the garb of exploitation of capitalism which is violation of constitution of India.