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Direct Tax
These types of taxes are directly paid to the government of India by individual/entity
Types of Direct Taxes in India
A. Income Tax
This tax is well known in India. This tax is paid by the taxpayer whose income exceeds the taxable limit. The taxpayers have to pay tax on applicable rates. As per income tax rate for F.Y 2018-19, we do not have to pay income tax if your income is up to INR 2,50,000. But if your earning exceeds 2.5 lakhs then you have to pay 5% tax as income tax up to INR 5 lakhs of Income. Rebate of 2500/- is available for total income up to 3.5 lacs.
B.Capital Gains Tax
Capital gain tax is the tax that has to be borne by the individual/entity at the time of sale of any capital asset for instance property, shares, bonds and valuable material etc . It is levied on the difference between sale price and purchase cost (or indexed cost).
Capital gain can be long term or short term on the basis of holding period of the capital assets. For instance, for immovable property, if holding period is greater than 24 months then it will be treated as long term capital gain.
Tax rate for short term and long term capital gain differs based on their nature.
C. Securities Transaction Tax
Securities transaction tax (STT) was introduced in the 2004 Union Budget and came into effect from 1 October 2004.The basic motive behind introduction of Securities transaction tax (STT) was to curb curb evading of taxes on profits from capital gains earned by transacting in securities. This tax is levied at the time of purchase and sale of securities listed on stock exchanges in India. The rate of STT differs based on the type of security traded and whether the transaction is a purchase or a sale.
D. Fringe Benefit Tax
Tax paid on fringe benefits provided by the company to employees. This is separate to income tax and is calculated on the taxable value of the fringe benefits provided.
E. Corporate Tax
Corporate tax also called corporation tax is levied on the income of corporate bodies of our country. In India, the taxation companies are divided into international and domestic companies.
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Sociology paper CSM 2023 Paper
#Sociology #Optional
#Mains #Paper 2
#2023 #UPSC
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Pub ad paper CSM 2023 Paper
#Pub ad #Optional
#Mains #Paper 2
#2023 #UPSC
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Primates, Fossils and Dating methods
Handwritten Notes
by
Narayan Amit(AIR 70 CSE 2021)
Botany paper CSM 2023 Paper
#Botany #Optional #Mains #Paper 2 #2023 #UPSC
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🌀Forest Report (IFSR) 2021
▪️Key pointer about India :
▫️Total Forest Cover = 21.71%
▫️Total Forest & Tree Cover = 24.62%
▪️Largest Forest Cover ( Area wise):-
1. MP
2.Arunachal Pradesh
3.Chhattisgarh
4.Odisha
5.Maharashtra
▪️Total Forest Cover ( %age of total GA) : Top five States are
▫️Mizoram (84.53%)
▫️Arunachal Pradesh (79.33%)
▫️Meghalaya (76.00%)
▫️Manipur (74.34%)
▫️Nagaland(73.90%)
▪️Total mangrove cover- 4,992 sq km.
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Direct Tax
These types of taxes are directly paid to the government of India by individual/entity
Types of Direct Taxes in India
A. Income Tax
This tax is well known in India. This tax is paid by the taxpayer whose income exceeds the taxable limit. The taxpayers have to pay tax on applicable rates. As per income tax rate for F.Y 2018-19, we do not have to pay income tax if your income is up to INR 2,50,000. But if your earning exceeds 2.5 lakhs then you have to pay 5% tax as income tax up to INR 5 lakhs of Income. Rebate of 2500/- is available for total income up to 3.5 lacs.
B.Capital Gains Tax
Capital gain tax is the tax that has to be borne by the individual/entity at the time of sale of any capital asset for instance property, shares, bonds and valuable material etc . It is levied on the difference between sale price and purchase cost (or indexed cost).
Capital gain can be long term or short term on the basis of holding period of the capital assets. For instance, for immovable property, if holding period is greater than 24 months then it will be treated as long term capital gain.
Tax rate for short term and long term capital gain differs based on their nature.
C. Securities Transaction Tax
Securities transaction tax (STT) was introduced in the 2004 Union Budget and came into effect from 1 October 2004.The basic motive behind introduction of Securities transaction tax (STT) was to curb curb evading of taxes on profits from capital gains earned by transacting in securities. This tax is levied at the time of purchase and sale of securities listed on stock exchanges in India. The rate of STT differs based on the type of security traded and whether the transaction is a purchase or a sale.
D. Fringe Benefit Tax
Tax paid on fringe benefits provided by the company to employees. This is separate to income tax and is calculated on the taxable value of the fringe benefits provided.
E. Corporate Tax
Corporate tax also called corporation tax is levied on the income of corporate bodies of our country. In India, the taxation companies are divided into international and domestic companies.
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✅ Dynasties of India and their Founders ✅
=========================
🔸 Khilji Dynasty (Northern India)- Jalal-ud-din Khilji
🔸 Tughlaq Dynasty (Northern India) - Ghias-ud-din Tughlaq
🔸 Lodhi Dynasty (Northern India) - Bahlol Lodhi
🔸 Mughal Dynasty (large part of Indian Subcontinent)- Babur
🔸 Haryanka Dynasty (Magadha) - Bimbisara
🔸 Nanda Dynasty (Magadha) - Mahapadmananda
🔸 Chola Dynasty, Adi (Cholamandalama) - Karikala
🔸 Gupta Dynasty (Magadha) - Srigupta
🔸 Chalukya Badami Dynasty (Badami) - Pulkeshin I
🔸 Pallava Dynasty (Kanchi)- Singha Vishnu
🔸 Chalukya Vengi Dynasty (Vengi) - Vishnu Vardhana
🔸 Rashtrakuta Dynasty (Maharashtra)- Danti Durga
🔸 Pala Dynasty (Bengal) - Gopala
🔸 Chola Dynasty (Tamil Region) - Vijayalaya
🔸 Slave Dynasty (Northern India)- Qutubudin Aibak
🔸 Mauryan Dynasty (Magadha) - Chandragupta Maurya
🔸 Sunga Dynasty (Magadha) - Pushyamitra Sunga
🔸 Kanva Dynasty (Magadha) - Vasudeva
🔸 Satvahana Dynasty (Maharashtra) - Simuka
🔸 Kushan Dynasty (West-Northern India) - Kadphises
#UPSCPrelims
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Sociology paper CSM 2023 Paper
#Sociology #Optional
#Mains #Paper 1
#2023 #UPSC
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Pub ad paper CSM 2023 Paper
#Pub ad #Optional
#Mains #Paper 1
#2023 #UPSC
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Economics paper CSM 2023 Paper
#Economics #Optional #Mains #Paper 1 #2023 #UPSC
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Botany paper CSM 2023 Paper
#Botany #Optional #Mains #Paper 1 #2023 #UPSC
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Psychology paper CSM 2023 Paper #Optional #Mains #Paper 1 #2023 #UPSC
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