individuals income tax
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upto the age of 60
the annual income less than 2.5 lakh is nill and income tax is 12% education cess is 2% higher education cess is 1%.
anjali4464:
I can't understand
if the citizen having the age below 60
there is no need to pay tax whose having the annual income below 2.5 lakh
thank
Answered by
0
hello
It is the percentage of an individual's income that is paid by him/her to the government. The tax is levied on the basis of the Income Tax Act, 1961. Hindu Undivided Families (HUFs), corporate firms, Association of Persons (AOPs), and companies are expected to pay income tax to the government for their earnings.
thanxx
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