Question
Which of the following statements is/are correct in terms of Direct and Indirect taxes?
- Excise duty and sales tax are examples of indirect taxes
- Taxes like income tax and property tax are direct taxes
- There is no difference between Direct and Indirect tax
Answer: Option B
Answer: (b)In the case of direct taxes the burden or ‘incidence’ has to be borne by the taxpayers themselves whereas in the case of an indirect tax, the burden can be shifted to another person
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Answer: (b)In the case of direct taxes the burden or ‘incidence’ has to be borne by the taxpayers themselves whereas in the case of an indirect tax, the burden can be shifted to another person
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