Other taxes

Apart from direct and indirect taxes, there are also other sub-categories of minor cases. There are various functions managing these levies within the Income Tax Act. Minor revenue generators and cess taxes are among the other taxes. The following are the several subcategories of other taxes:

• Property Tax: Property tax, often known as Real Estate Tax or Municipal Tax, is a type of tax imposed on real estate. Property taxes apply to both residential and commercial property owners. It is used to keep certain essential civic services running. Property taxes are imposed by Municipal bodies based in each city.
• Professional Tax: People who practice a profession or earn a salaried salary, such as attorneys, chartered accountants, and physicians, are subject to this employment tax. The amount of this tax varies by state and is not a company tax levied in every state.
• Entertainment Tax: This is a tax paid on television shows, movies, exhibits, and other forms of entertainment. The tax is charged on the whole amount of money earned. Currently, states levy an entertainment tax, with rates ranging from 0% to 110 percent, with an average of 30%.
• The Registration fee, Stamp duty, and Transfer tax: The registration fee, stamp duty, and transfer tax are paid at the time of purchase or as a supplement to the property tax afterward. Section 80C allows you to deduct stamp duty, registration fees, and other expenditures that are directly linked to the transfer. This part has a limit of Rs. 1,50,000 as the maximum deduction amount.
• Education Cess: The Education Cess is a tax charged by the Indian government to subsidizes educational initiatives that it has launched and established. The education cess tax is a fee that is collected in addition to the ordinary tax in order to help the government pay basic education for children. The Finance Minister proposed a 4% Health and Education Cess in the 2018 Budget to help low-income and rural households fulfil their educational and healthcare needs.
• Entry Tax: This is a tax charged on items or goods entering a state, particularly through e-commerce sites, and is levied in states like as Delhi, Assam, Gujarat, and Madhya Pradesh, among others. For example, the government of Madhya Pradesh put a 4% entrance tax on all electronic items and a 15% tax on new 2-wheelers, 3-wheelers, and 4-wheelers. Goa, on the other hand, placed a 12.5 percent entrance tax on electronic items as well as a 12.5 percent tax on all sorts of motor vehicles.

India is a democratic, socialist, and republican nation. The supreme law of the nation in India is the Constitution. The Indian Constitution is supreme over all other laws, including the Income Tax Act and the Central Goods and Services Tax Act. According to the Constitution, “no tax shall be imposed or collected unless by Authority of Law”.