Q. Consider the following:
1.Capital Gains Tax
2.Goods and Services Tax (GST)
3.Securities Transaction Tax (STT)
4.Excise duty
How many of the above are included in the ‘direct taxes’ in India?
Answer: B
Notes:
Explanation – Direct taxes are:
- Capital Gains Tax – This is a direct tax on the profit that is realized from the sale of a non-inventory asset that was greater in value than the purchase price.
- Securities Transaction Tax (STT) – This is a direct tax levied on the value of securities (such as stocks) transacted through a recognized stock exchange.
GST and excise duty are indirect taxes.
Source: The Hindu
