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What is Income Tax?

By HimaniPosted on November 26, 2019Posted in Income TaxTagged Income tax slab for individual tax payers & HUF (60 years old or more but less than 80 years old), Income tax slab for individual tax payers &HUF (80 years old and above), Income Tax Slab rate, Slab of Income tax for individual tax payers & HUF who are less than 60 years old, What is Income Tax?, Who pays Income Tax and why is it needed?No Comments

What is Income Tax? Income tax is a percentage of an individual person’s or Business’ income that is paid to the government to run the nation smoothly, fund infrastructural development, pay salaries of those employed by the state or central governments, etc All such taxes are levied based on the passing of a law. Income […]