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Which are the different taxes applicable in India?


Rahul Rai

2014-09-25

Lets discuss which are the different type of taxes that are applicable to Indians and Indian Companies.

We shall make 2 categories, For Individuals doing business and one not doing business.

As per me the different taxes applicable are:

For Individuals not doing business:

  1. Income Tax
  2. Wealth Tax
  3. Profession tax on salary

For Individuals doing business or not for business:

  1. Income Tax
  2. Wealth Tax
  3. Profession tax
  4. Sales tax on selling the goods
  5. Excise

Also those who buy items for consumption they have to pay sales tax (VAT).