Taxes in India are classified into Direct Taxes (paid directly to the government) and Indirect Taxes (paid via goods/services). Here's a comprehensive list:

Direct Taxes

• Income Tax: Tax on income exceeding taxable limits. Rates vary by income slab.
• Capital Gains Tax: On profits from selling assets like property or shares; categorized as short-term or long-term.
• Securities Transaction Tax (STT): Tax on transactions in stock exchanges, applied directly.
• Perquisite Tax: Tax on non-monetary benefits from employers (e.g., cars, ESOPs).
• Corporate Tax: Annual tax on a company's income, differing for domestic and foreign firms.

Indirect Taxes

• Sales Tax: Charged on goods' sales, varying for interstate and intrastate transactions (now replaced by GST).
• Service Tax: Tax on paid services (e.g., banking, hospitality). Current rate: 14.5%.
• Value Added Tax (VAT): State-level tax on goods; rates vary. Merged into GST.
• Custom Duty: On imported goods, payable at entry points like ports.
• Excise Duty: Tax on goods manufactured in India.
• Anti-Dumping Duty: Imposed to prevent unfair pricing of imported goods.

Other Taxes

• Professional Tax: Levied on salaried individuals by state governments. Rates vary.
• Dividend Distribution Tax: Paid by companies on dividends distributed to shareholders (current rate: 15%).
• Municipal Tax: Property tax imposed by local municipalities.
• Entertainment Tax: State tax on movies, shows, cable, and DTH services.
• Stamp Duty & Registration Fees: Charged on property ownership transfers.
• Education Cess & Surcharge: Additional tax for funding education and government initiatives (3% of total tax).
• Gift Tax: Taxed if the gift's value exceeds50,000 annually.
• Wealth Tax: Previously levied on net wealth exceeding30 lakh, now replaced by a surcharge on income.
• Toll Tax: Charged for using infrastructure like roads or bridges.
• Swachh Bharat Cess: 0.5% tax on services for the Swachh Bharat initiative.
• Krishi Kalyan Cess: 0.5% tax on services to support farmers' welfare.
• Dividend Tax: 10% tax on dividend income exceeding10 lakh annually.
• Infrastructure Cess: Levied on cars and utility vehicles, rates based on engine size and type.
• Entry Tax: State tax on goods entering jurisdiction (e.g., via e-commerce).

Key Insights

• Purpose: Taxes fund infrastructure, defense, and public welfare.
• Taxpayer Rights: Understand and maximize exemptions like agricultural income or scholarships.
• Reforms: Many indirect taxes are now unified under GST, simplifying compliance.

"Taxes are paid, nations are made!"

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