Definition
A direct tax is a tax imposed directly on individuals or entities based on their income, profits, or assets. Direct taxes are typically proportional to the taxpayer's income or wealth and are paid directly to the government. Examples of direct taxes include income tax, corporate tax, property tax, and inheritance tax.
Our trending searches definitions
Private Limited Company (Ltd)
A Private Limited Company (Ltd) is a type of company where the ownership is divided into shares held by a small number of shareholders. The liability of shareholders is limited to the amount unpaid on their shares, and the company’s shares cannot be traded publicly on the stock exchange.
Limited Liability Partnership (LLP)
A Limited Liability Partnership (LLP) is a business structure where partners have limited personal liability for the debts and obligations of the partnership. Each partner’s liability is limited to their investment in the LLP, and they are protected from the actions of other partners.