INCOME TAX
Income tax in India is a legal obligation where individuals and businesses pay a portion of their earnings to the government. This tax is based on your income level and is due annually. You can reduce your tax liability through deductions. It's important to file your tax returns on time to avoid penalties. Additionally, India also has a Goods and Services Tax (GST) for goods and services. For efficient tax management, consider professional advice and tax-saving investments.
