Income Tax

Income Tax

The Central Government levies income tax on individuals and businesses who earn money over the course of a financial year. Taxes are regarded as a source of income for the government. In India, there are two sorts of taxes: direct tax and indirect tax. Direct tax is a type of tax that is levied directly on income. For example, income tax is a direct tax that is calculated using the income tax slab rates that are in effect during a certain financial year.

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