CAPITAL AND REVENUE RECEIPTS
Capital receipts are those estimated receipts of the government during the fiscal year which affects assets and liabilities status of the government.
for example- disinvestment, recovery of loans
Revenue receipts are those estimated receipts of the government during the fiscal year which does not effect assets and liabilities status of the government.
for example- Taxes and non taxes revenue
DIRECT AND INDIRECT TAX
Direct tax are those whose final burden falls on that person who makes the payment to the government.
Indirect taxes are those taxes which are paid to the government by one person but their burden is borne by another person.
In direct tax, impact and incidence of tax lie on same person.
In indirect tax, impact and incidence of tax lie on different persons.
The impact of direct taxation cannot be shifted whereas the impact of indirect taxation can be shifted to others.
