who needs to pay income tax in india
Income tax in India The government imposes a tax on taxable income of all persons who are individuals, Hindu Undivided Families (HUF's), companies, firms, LLP, association of persons, body of individuals, local authority and any other artificial juridical person. Levy of tax on a person depends upon his residential status. The CBDT administers the Income Tax Department, which is a part of the Department of Revenue under the Ministry of Finance, Govt. of India. Income tax is a key source of funds that the government uses to fund its activities and serve the public.
Finance Commission Major Recommendations of 14th Finance Commission headed by Prof. Y V Reddy
Goods and Services Tax (India) The tax came into effect from July 1, 2017 through the implementation of One Hundred and First Amendment of the Constitution of India by the Indian government. The tax replaced existing multiple cascading taxes levied by the central and state governments.
Indian general election, 2019 General elections are due to be held in India by 2019 to constitute the seventeenth Lok Sabha.