general
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 April 2010
sir whts the difference between DUTY in indirect tax n TAX in direct tax r these words i.e.duty n tax more or less same y v used different words n IFRS wl be applicable in nov2010 attempt so please reply me fast i m waitin
sir whts the difference between DUTY in indirect tax n TAX in direct tax r these words i.e.duty n tax more or less same y v used different words n IFRS wl be applicable in nov2010 attempt so please reply me fast i m waitin
09 April 2010
The term duty and tax mean the same thing which is an amount levied by the Govt to raise revenue to part finance the various developmental or other activities undertaken by the Govt.By usage the term duty has come to mean a levy for excise and customs purposes and tax is referred to under Income Tax and sales tax now we have another new term VAT used in relation to set off benefits.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
