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Differentiate among followings with examples; i. Direct Taxes vs Indirect Taxes Normal Tax Year vs Special Tax Year Tax Credits vs Deductible Allowances ii.

 

Differentiate among followings with examples; i. Direct Taxes vs Indirect Taxes Normal Tax Year vs Special Tax Year Tax Credits vs Deductible Allowances ii. ii. iv. Best Judgment Assessment Vs Universal Self Assessment Scheme ( IT Returns) v. Wealth Statement Vs Foreign Income & Asset Statement

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Direct tax is a tax imposed on an individual and paid by the individual whereas indirect tax is a tax paid by the taxpayers but in an indirect manner Individuals pay direct taxes on their wealth and i... blur-text-image

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