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Tax Calculator Online India

Tax Calculator Online 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. The Income Tax

Department is the biggest revenue mobilizer for the Government. The total tax revenues of the Central Government increased from ?1,392.26 billion (US$22 billion) in 1997-98 to ?5,889.09 billion (US$91 billion) in 2007-08.

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