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Understanding The Various Types Of Direct Tax: A Comprehensive Guide

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Taxes constitute the biggest source of revenue for the Indian government. The money generated from collecting taxes goes into funding different projects for the development of the country. This enables the government to boost the economy, improve infrastructure and uplift the standards of living of the people.

The Constitution of India gives the Central and the state governments the authority to levy taxes. The taxes can’t be levied without the approval of an accompanying law that has been passed by the State Legislature or the Parliament."