Types of Taxes

"I hate paying taxes. But I love the civilization they give me"

Oliver Wendell. Holmes

Taxes are necessary as they fund the development of infrastructure, help in setting up of new schemes, industries, etc.

Various taxes that you might have to pay each year are:

• Income Tax Income tax is a tax imposed by the government on any income earned by an individual or an entity. There are different slabs wherein the tax imposed corresponds to total income earned.
• STT (Securities Transaction Tax) This is the tax imposed on securities and stocks that are traded (purchased or sold) on the stock exchange.
• Capital Gains Tax It is the tax that is levied on any gain made on the investment done by the investor. It includes mutual funds, gold, property, stocks, etc. There are two types of capital gains tax: Long-Term Capital Gains Tax (LTCG) Short-Term Capital Gains Tax (STCG)
• Long-Term Capital Gains Tax (LTCG)
• Short-Term Capital Gains Tax (STCG)