The term “Income Tax” is a direct tax, that is obligated by the authorities on the income of every person that a person earns by any means.
What is income tax?
Income tax is a direct tax, it is called as the direct tax because the burden of tax payment is imposed directly on the income of any person, and the burden of that payment of tax is not shifted to any another person.
The department to collect the income tax is the Central Board Of Direct Tax, that also called as the CBDT. This tax can be collected from both the sources, legal and illegal income source.
Therefore, the income tax is collected from every person whose income crosses certain limit.
Learn more about the income tax, refer to:
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