Income Tax Guide

Welcome to the Income Tax Guide!

Every year with Government budget, the most common expectation an Indian citizen has is of ‘change for better’ in the Income tax slab. So to plan your investment strategy and understand how much tax liability you will incur this year let’s have a look at the tax structure for different categories. These categories are created by the Government of India for taxation purposes, and they are based on Gender and Age.

Income tax is usually calculated as a percentage of the income earned. The percentage that is used to calculate the tax rate varies depending on the country, the individual's income level, and other factors.
In general, income tax is collected through withholding, which means that the employer deducts a certain amount of tax from each paycheck and sends it to the government on behalf of the employee. At the end of the tax year, individuals must file a tax return, which summarizes their income and tax payments for the year. The tax return is used to calculate the final tax liability, which may result in a refund or a payment due.