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Direct Teaxes are those taxes which are imposed on the incomes of individuals and corporations. It includes Income tax.
All other taxes are known as Indirect taxes. Indirect taxes are those taxes which are imposed on goods and services. For example: If you buy a commodity for Rs. 100, it includes certain taxes. These taxes are Indirect taxes. Indirect taxes include Goods and Services Tax (GST), Custom duty, road & toll tax, entertainment tax, stamp duty, etc.
Fixed capital means the amount invested by the organisation in FIXED ASSETS. For example: the amount invested in purchase of machinery, land, buildings, motor vehicles, furniture, computers, software, patents, copyrights, trademarks, licences, etc.
In simple words, fixed capital means the amount of non-current assets (long term assets) in an organisation.
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