Question

NUMBER NAMEनंबर नेम ​

Answer 1

Explanation:

The Government of India imposes income tax on the taxable income of individuals, Hindu Undivided Families (HUFs), companies, firms, co-operative societies and trusts (known as groups of individuals and individuals) as well as any other fictitious person. Tax collection varies from person to person. Taxes are levied as per Indian Income Tax Act, 1961. The Indian Income Tax Department is administered by the Central Board of Direct Taxes (CBDT) and is part of the Revenue Department under the Ministry of Finance, Government of India.

Income tax burden Edit

Any person whose total income exceeds the maximum amount not eligible for income tax is a taxpayer, and is eligible to pay income tax at the rates or rates prescribed under the financial law of the relevant assessment year, and this tax should be determined based on the person's residential status. Should.

Income tax is the tax payable by each person on the total income accrued in the previous year, at the rate fixed by the Central Budget (financial law) for each assessment year.

Volatility depends on the type of income, i.e., the capital that that income is revenue. The principles of income tax are as follows:

Income tax rates / slab rate (%) up to 2,00,000 = zero up to 250,000 (for residents 60 years and above) = zero

for all assasy

2,70,000 - 5,00,000 = 10%

5,00,001 - 10,00,000 = 20%

Over 10,00,001 = 30%

Education tax is applicable at 3% on income tax, additional tax = not applicable