This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. Find sources: "Income tax in India" – news · newspapers · books · scholar · JSTOR(April 2016) (Learn how and when to remove this message)
Income Tax Department logo
Part of a series on
Taxation
An aspect of fiscal policy
Policies
Government revenue
Property tax equalization
Tax revenue
Non-tax revenue
Tax law
Tax bracket
Flat tax
Tax threshold
Exemption
Credit
Deduction
Tax shift
Tax cut
Tax holiday
Tax amnesty
Tax advantage
Tax incentive
Tax reform
Tax harmonization
Tax competition
Tax withholding
Double taxation
Representation
Unions
Medical savings account
Economics
General Theory
Price effect
Excess burden
Tax incidence
Laffer curve
Optimal tax
Theories
Optimal capital income taxation
Distribution of Tax
Tax rate
Flat
Progressive
Regressive
Proportional
Collection
Revenue service
Revenue stamp
Tax assessment
Taxable income
Tax lien
Tax refund
Tax shield
Tax residence
Tax preparation
Tax investigation
Tax shelter
Tax collector
Private tax collection
Tax farming
Noncompliance
General
Tax avoidance
Repatriation tax avoidance
Tax evasion
Tax resistance
Tax shelter
Debtors' prison
Smuggling
Black market
Unreported employment
Corporate
Tax inversion
Transfer mispricing
Base erosion and profit shifting (BEPS)
Double Irish
Dutch Sandwich
Single Malt
CAIA
Locations
Tax havens
Corporate havens
Offshore financial centres (OFCs)
Offshore magic circle
Conduit and sink OFCs
Financial centres
Financial Secrecy Index
Major examples
Ireland as a tax haven
Ireland v. Commission
Leprechaun economics
Liechtenstein tax affair
Luxembourg Leaks
Offshore Leaks
Paradise Papers
Panama Papers
Swiss Leaks
United States as a tax haven
Panama as a tax haven
Types
Direct
Indirect
Per unit
Ad valorem
Aviation
Airport improvement
Landing
Solidarity
Capital gains
Expatriation
Consumption
Departure
Hotel
Sales
Stamp
Television
Tourist
Value-added
Dividend
Environmental tax
Carbon
Landfill
Natural resources consumption
Severance
Steering
Stumpage
Excise
Alcohol
Cigarette
Fat
Meat
Sin
Sugary drink
Tobacco
General
Georgist
Gift
Gross receipts
Hypothecated
Income
Inheritance (estate)
Land value
Luxury
Payroll
Pigouvian
Property
Resource rent
Single
Surtax
Turnover
Use
User charge/fee
Congestion
Fuel
Road/GNSS
Toll
Vehicle miles traveled
Corporate profit
Excess profits
Windfall
Negative (income)
Wealth
International
Financial transaction tax
Currency transaction tax
European Union Common Consolidated Corporate Tax Base (CCCTB)
Global minimum corporate tax rate
Tobin tax
Spahn tax
Tax equalization
Tax treaty
Exchange of Information
Permanent establishment
Transfer pricing
European Union FTT
Foreign revenue rule
Trade
Custom
Duty
Tariff
Import
Export
Tariff war
Free trade
Free-trade zone
Trade agreement
ATA Carnet
Research
Academic
Mihir A. Desai
Dhammika Dharmapala
James R. Hines Jr.
Ronen Palan
Joel Slemrod
Gabriel Zucman
Advocacy groups
Institute on Taxation and Economic Policy (ITEP)
Oxfam (UK)
Tax Foundation (US)
Tax Justice Network (TJN)
Tax Policy Center (US)
Religious
Church tax
Eight per thousand
Teind
Tithe
Fiscus Judaicus
Leibzoll
Temple tax
Tolerance tax
Jizya
Kharaj
Khums
Nisab
Zakat
By country
All Countries
List of countries by tax rates
Tax revenue to GDP ratio
Tax rates in Europe
Individual Countries
Albania
Algeria
Argentina
Armenia
Australia
Azerbaijan
Bangladesh
Bhutan
Brazil
Bulgaria
BVI
Canada
China
Colombia
Croatia
Denmark
Finland
France
Germany
Greece
Hong Kong
Iceland
India
Indonesia
Iran
Ireland
Israel
Italy
Japan
Kazakhstan
Lithuania
Malta
Morocco
Namibia
Netherlands
New Zealand
Norway
Pakistan
Palestine
Peru
Philippines
Poland
Portugal
Russia
South Africa
Sri Lanka
Sweden
Switzerland
Taiwan
Tanzania
United Arab Emirates
United Kingdom
United States
Uruguay
Business portal
Money portal
v
t
e
Central Revenue collections in 2007–08[1]
Personal income tax (17.43%)
Corporate taxes (33.99%)
Other taxes (2.83%)
Excise taxes (20.84%)
Customs duties (17.46%)
Other taxes (8.68%)
other taxes (11.96%)
Income tax in India is governed by Entry 82 of the Union List of the Seventh Schedule to the Constitution of India, empowering the central government to tax non-agricultural income; agricultural income is defined in Section 10(1) of the Income-tax Act, 1961.[2] Income-tax law consists of the 1961 act, Income Tax Rules 1962, Notifications and Circulars issued by the Central Board of Direct Taxes (CBDT), annual Finance Acts, and judicial pronouncements by the Supreme and high courts.
The government taxes certain income of individuals, Hindu Undivided Families (HUF's), companies, firms, LLPs, associations, bodies, local authorities and any other juridical person. Personal tax depends on residential status. The CBDT administers the Income Tax Department, which is part of the Ministry of Finance's Department of Revenue. Income tax is a key source of government funding.
The Income Tax Department is the central government's largest revenue generator; total tax revenue increased from ₹1,392.26 billion (US$17 billion) in 1997–98 to ₹5,889.09 billion (US$74 billion) in 2007–08.[3][4] In 2018–19, direct tax collections reported by the CBDT were about ₹11.17 lakh crore (₹11.17 trillion).[5]
^Compiled from Comptroller and Auditor General of India reports.
^Institute of Chartered Accountants of India (2011). Taxation. ISBN 978-81-8441-290-1.
^"Growth of Income Tax revenue in India" (PDF). Archived (PDF) from the original on 27 February 2012. Retrieved 16 November 2012.
^"Home – Central Board of Direct Taxes, Government of India". Incometaxindia.gov.in. Archived from the original on 2 December 2015. Retrieved 18 April 2018.
^"Total direct tax collections for FY18-19 fall short by Rs 83,000 crore". Moneycontrol.com. 2 April 2019. Archived from the original on 5 June 2020. Retrieved 22 August 2020.
and 24 Related for: Income tax in India information
IncometaxinIndia is governed by Entry 82 of the Union List of the Seventh Schedule to the Constitution of India, empowering the central government to...
collection of the government of India. It functions under the Department of Revenue of the Ministry of Finance. The IncomeTax Department is headed by the...
incometax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxableincome)...
The following are ranks of the officers working in the IncomeTax Department of Ministry of Finance (India). Officers are appointed from two different recruiting...
tax, wealth tax, etc. Wealth Tax Act, 1957 was repealed in the year 2015. Direct TaxesinIndia were governed by two major legislations, IncomeTax Act...
IncomeinIndia discusses the financial state inIndia. With rising economic growth and prosperity, India'sincome is also rising rapidly. As an overview...
A corporate tax, also called corporation tax or company tax, is a type of direct tax levied on the income or capital of corporations and other similar...
A tax return is a form that documents the calculation of income earned and the amount of taxes to be paid to the government or government organizations...
The New Tax Regime is a scheme of IncometaxinIndia first proposed in Union Budget 2020–21. Subsequent Budget of FY2021-22 did not see any major announcements...
Usually, tax elasticity is considered a better indicator to measure tax responsiveness. Elasticity (economics) "Growth of IncomeTax Revenue inIndia" (PDF)...
personal income taxes, in which people with lower income pay a lower percentage of that incomeintax than do those with higher income. It can also apply...
Income inequality inIndia refers to the unequal distribution of wealth and income among its citizens. According to the CIA World Factbook, the Gini coefficient...
alphanumeric identifier Foundational ID, issued in the form of a laminated "PAN card", by the Indian IncomeTax Department, to any person who applies for it...
India'sIncomeTax Appellate Tribunal (ITAT) was the first experiment in tribunalization in the history of India. It was set up on 25 January 1941 by virtue...
The Chief Commissioner of IncomeTax, or Director General of IncomeTax is a senior rank in the IncomeTax Department inIndia. [citation needed] They are...
In economics, a negative incometax (NIT) is a system which reverses the direction in which tax is paid for incomes below a certain level; in other words...
Tax deduction at source (TDS) is an Indian withholding tax that is a means of collecting tax on income, dividends, or asset sales by requiring the payer...
affairs to the tax authorities to reduce the taxpayer's tax liability, and it includes dishonest tax reporting, declaring less income, profits or gains...
Tax withholding, also known as tax retention, pay-as-you-earn tax or tax deduction at source, is incometax paid to the government by the payer of the...
InIndia, a Tax Deduction and Collection Account Number (TAN) is a 10 digit alpha-numeric number issued by the IncomeTax Department to the persons who...
Incometaxin the Netherlands (personal, rather than corporate) is regulated by the Wet inkomstenbelasting 2001 (IncomeTax Law, 2001). The fiscal year...
Global Information
