Mains Paper II · 1 Indian Economy · 1.10 Public finance

1.10.7 Direct taxes: income tax, corporation tax, MAT, GAAR and the global minimum tax

Direct taxes (income tax and corporation tax) are levied on income, are administered by the CBDT, and from 1 April 2026 are governed by the new Income-tax Act, 2025.

  • APPSC Group 2 · Mains Paper II
  • Advanced level
  • 6 min read
  • Full course

Key terms

  • income tax
  • new tax regime
  • Income-tax Act 2025
  • corporation tax
  • MAT
  • GAAR
  • BEPS
  • Pillar Two
  • equalisation levy
  • STT
  • capital gains
  • CBDT

What this note covers

  1. Core factsFoundation
  2. ExplainedStandard
  3. DeeperAdvanced
  4. Mains writingMains writing
  5. Common trapsFoundation
  6. Quick revisionFoundation

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