As a law abiding citizen who is keen in the development and progress of the country one must pay incomtax. Income tax laws are decided by income tax gov or income tax office and are primary based on the recommendations made by Income tax act 1961. This website attempts to provide information on different sections of Income tax act 1961, what are different income tax laws, where to find income tax help, best place to get income tax information, which is the official income tax gov site and where can one find information on income tax office and other queries related to incomtax.
Incomtax in simplest terms is the amount which individuals/corporations and other legal entities have to pay on their net income and other assets. People searching for income tax information will be surprised to learn that first income tax laws were decided by the income tax office way back in 1860. These income tax laws were enforced by the income tax government for a total of 5 years. Income tax office then revised these laws in 1886 and introduced some new incomtax act related to agriculture income which are pertinent even today and find mention in Income tax act 1961 which laid the foundation of the modern income tax laws. Income tax act 1961 is divided into different section with each section providing detailed income tax information about a particular segment or section of people. Income tax act 1961 section 80c provides details about various premiums and savings made by people by investing in life insurance and other schemes.
Income tax office run by income tax gov provide income tax help and income tax information to various individuals seeking advice on income tax laws and incomtax rates. Income tax office provides income tax help on subjects like what are the current tax slabs and latest tax rates. By searching on income tax help on subjects related to tax rates you can find income tax information on latest tax slabs that are applicable from 1st April of any year.
Income tax gov also provide income tax information about various tax deductions that are to be made from employer's salary. Income tax help suggest that employers can get tax exemption on medical bills of up to 15000 every year and one can also find income tax information on tax exemptions that they can enjoy on conveyance, professional taxes and house rent allowance etc.
So contact income tax gov website or dial the number of income tax office to get income tax help and find all the answers to your queries on income tax laws by getting access to authentic income tax information.