Explainer: Different types of taxes in India
Updated : September 26, 2019 06:25 AM IST
The concept of taxation is an important notion that plays a key role in sustaining economies and countries.
Direct taxes can be defined in simple words as those taxes that are levied directly on the income and wealth of an individual or organisation.
Indirect taxes can be defined as those taxes that are collected by an intermediary mainly during the purchase of goods and services.