26
Apr
An income tax is a sum that every Indian citizen. Whether an individual or a corporation, is obligated to pay to the Indian income tax authorities for the fiscal year that begins on April 1 and ends on March 31 of the following year. The rate is established by the government. It is determined using an individual's or a business's net taxable income. The government has set various slab rates, i.e. higher and lower slab rates, for the convenience of Indian citizens. In India, who is liable to pay income tax? Individuals who work for themselves Individuals who earn a…