How to Calculate Income from House Property

Scope: Section-24 is confined to “buildings and lands appurtenant thereto which may be conveniently called house property”. Tax under this section is levied upon owner, legal or beneficial and not upon the occupant. It is levied not upon the actual income from the property but upon satisfactory...

Disadvantages of direct taxes

In direct tax, burden of tax cannot be shifted. The disadvantages of direct taxation are mainly due to administrative difficulties and inefficiencies. The extent of direct taxation should depend on the economic state of the country. A rich country has greater scope for direct taxation than a poor...

What is Direct Tax?

A tax that is paid directly by an individual or organization to the imposing entity. A taxpayer pays a direct tax to the government for different purposes, including income tax, wealth tax, property tax, capital gain tax, gift tax, corporate/company tax, et...

Advantage of Direct Tax

In case of direct tax, the tax-payer is the tax-bearer. The impact i.e. the initial burden and its incidence i.e. the ultimate burden of direct tax is on the same person. Advantages/merits of direct taxes:&nbs...