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India's gross direct tax collection increased by 17.95 per cent on the year to Rs 11.07 lakh crore as of October 2023 Net collections stood at Rs. 9.57 lakh crore, 21.82 per cent higher than net collections for the comparable period of last year As far as Corporate Income Tax (CIT) and Personal Income Tax (PIT) in terms of gross revenue collections are concerned, the growth rate for CIT is 7.30 per cent while that for PIT is about 29 per cent Direct tax is a type of tax where the incidence and impact of taxation fall on the same entity.In the case of direct tax, the burden can’t be shifted by the taxpayer to someone else. These are largely taxes on income or wealth. Income tax, corporation tax, property tax, inheritance tax and gift tax are examples of direct tax Corporate Income Tax - The income-tax paid by domestic companies, and foreign companies on their income in India is corporate income-tax (CIT). The CIT is at a specific rate as prescribed by the income tax act subject to the changes in the rates in the union budget every year.Personal Income Tax-The income-tax paid by the individual taxpayers is the personal income tax. Individuals get taxed on the basis of tax slabs at different rates
A man bought an article at 25% less of the marked price and sold it at 15% more than the marked price. Find the profit earned by him.
...When a shopkeeper sells an item A for Rs.52,800, he incurred a loss of 45%. If he sells another item B of same cost price in order to recover the loss i...
A purchased an article for Rs 1280. She sold the article at 10% profit. She then added Rs 200 to the amount received and purchased a purse such t...
The marked price of a smartphone is Rs. 8,400, and the profit earned from its sale is Rs. 1,200. If the ratio of the cost price to the selling price of ...
A machine is sold at an 8% profit, making its selling price Rs. 63 higher than the selling price if it were sold at a 20% loss. W...
A shopkeeper marked the price of a laptop bag 125% higher than its cost price. He then sold the bag after applying three consecut...
A dealer marked his goods 50% above the cost price and sold it after two consecutive discounts of 10% and 20%. If he had marked it 40% above the cost pr...
An item is initially priced 36% higher than its cost price. After applying a 25% discount, it sells for a profit of Rs. 30. If, instead, the item is mar...
Anand buys an old cycle for Rs. 5700 and spends Rs. 550 on its repairs. If he sells the cycle for Rs. 6500, his gain percent is
