Correct Option (d)
Fringe Benefit Tax (FBT), Interest Tax, and Securities Transaction Tax (STT) are all classified as direct taxes.
- Fringe Benefit Tax (FBT): This was a direct tax levied on employers for the value of fringe benefits provided to their employees. It was introduced in 2005 and subsequently abolished in 2009. The incidence and impact of the tax fell directly on the employer.
- Interest Tax: Imposed under the Interest Tax Act, 1974, this was a direct tax levied on the interest income of banks and financial institutions. Although it was abolished for interest accruing after March 2000, its classification as a direct tax remains.
- Securities Transaction Tax (STT): This is a direct tax levied on transactions involving the purchase and sale of securities listed on recognized stock exchanges. While it is collected at the point of transaction, its nature is direct because the liability for the tax and its ultimate burden fall on the same person, i.e., the investor or trader.
Incorrect Options
Options 1, 2, and 3 are incorrect because they do not include all three taxes listed in the question. As explained above, Fringe Benefit Tax, Interest Tax, and Securities Transaction Tax are all classified as direct taxes. Therefore, the option that includes all three is the correct one.