An income tax is a government levy (tax) imposed on individuals that varies with the income of the taxpayer.


In India, The Central Government has been empowered by Entry 82 of the Union List of Schedule VII of the Constitution of India to levy tax on all income other than agricultural income.


The Income Tax Law comprises The Income Tax Act 1961, Income Tax Rules 1962.


Income tax generally is computed as the product of a tax rate times taxable income.


The tax rate may increase as taxable income increases


The Income Tax Department is the biggest revenue mobilizer for the Government.
Top Tax Saving Tips