In the landscape of the Budget, direct taxes take centre stage, impacting individuals and businesses alike.
A direct tax is one that you pay directly on your income or earnings. This encompasses various streams, from the income you receive through your job to the rent generated from a property and the proceeds from selling real estate.
What makes direct taxes unique is their progressive structure – the more you earn, the higher the amount you contribute to the government coffers.
A direct tax is made without any intermediaries. It is levied and directly paid by the individuals or entities to the government.