Income-tax is to be paid by every person. The term 'person' as defined under the Income-tax Act covers in its ambit natural as well as artificial persons.
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Showing posts with label Income Tax. Show all posts
Showing posts with label Income Tax. Show all posts
What is the period for which a person's income is taken into account for the purpose of income tax ?
Income-tax is levied on the annual income of a person. The year under the Income-tax Law is the period starting from 1st April and ending on 31st March...
What is the administrative framework of Income Tax ?
The revenue functions of the Government of India are managed by the Ministry of Finance. The Finance Ministry has entrusted the task of administration...
What is Income Tax ?
It is a tax levied by the Government of India on the income of every person. The provisions governing the Income-tax Law are given in the Income-tax...
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