Type of tax, Difference between direct tax and indirect tax, example of direct tax and indirect tax, on which basis tax is calculated etc

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Explanation of direct and indirect taxes with examples and calculation basis.

Direct tax is levied on income or profits, while indirect tax is levied on goods and services.
Examples of direct tax include income tax, corporate tax, and wealth tax, while examples of indirect tax include GST, excise duty, and customs duty.
Direct tax is calculated based on the income or profits earned by an individual or company, while indirect tax is calculated based on the value of goods or services.
Direct tax is progressive in nature, while indirect tax is regressive in nature.
Taxation policies are determined by the government and are subject to change based on economic conditions and political priorities.

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