Income Tax is a financial and legal tax charged in India. Vidha Corporateis the best income tax consultant in Madhya Pradesh. Basically, it is earned by the income of the individual, business, etc. Income Tax Act, of 1961, mandates that the central government collect this tax. In the year the government can change the income slab or tax rate. Income tax is used to pay for things like schools, hospitals, roads, and other things that help everyone in the country. If you pay income tax you can contact best income tax consultant in Madhya Pradesh, Vidha corporate
Types of income tax.
Many types of income tax are available like:
1. personal income tax ,
2.capital gains tax ,
3.corporate tax etc…
Who should pay Income Tax?
income tax is mandatory for those whose income is more than 3,00,000.It’s divided into three groups: people under 60 years old, those between 60 and 80 years old, and those over 80 years old.
Income Tax slab under New Regime for FY 2023-24:
| Income Tax Slab |
|
| Upto ₹3 lakh |
|
| Above ₹3 lakh₹ 6 lakh |
|