Income Tax is a direct tax you pay to the Government of India on the income you earn. It is governed by the Income Tax Act, 1961, (It will changed to Income Tax Act,2025 from FY 2025-26) and administered by the Central Board of Direct Taxes (CBDT). Understand the nuances of Income Tax in India — from slab rates and deductions to compliance requirements for salaried individuals, businesses, and professionals. Stay informed to optimize your tax liability and avoid penalties. Income tax is a tax that governments charge on the money earned by people and businesses in their area. It is based on taxable income, which usually includes paychecks, salaries, dividends, interest, and other earnings. Learn what income tax is, how it is calculated, and why it is important for nation-building and social welfare. Explore the historical development, current trends, and recent changes in the Indian income tax system.
