Service Tax- It is a tax on services rendered- e.g on telephone,
electricity , insurance etc. all attracts service tax.
Fringe Benifit Tax( FBT)- The perquisites or benifits provided
by the epmloyer to his emplyees in addition to the salary or
wage are taxable.This is known as FBT .Employers now pay this
Direct Tax- Theses taxes are generally paid by the person or
organisations on whom its is levied. Such taxes are income tax,
wealth tax, FBT, SIT , BCITT are all direct taxes.
Indirect Tax- Here the incidenece of tax is usually not on the
person who pays the tax. Customs, Excise and Service Tax are
all indirect taxes.
Corporation Tax- Tax on profit of companies.
Securities Transaction Tax- (STT). It is a sort of turnover
tax where the investor has to pay a small tax on the total consideration
paid /received in a share transaction.
Banking Cash Transaction Tax-( BCTT) .Applicable on withdrawl
ofcash from bank exceeding a particular amount.
Customs- Cash imposed on imports.
Excise Duty- Duties imposed on goods manufactured in the country.