What is Clubbing of Income in Income Tax?

Every person is liable to pay tax on his income not on every receipt. It is the duty of the every person to pay tax otherwise he is liable for the penalty and imprisonment. In every country, person tries to non-disclose his income for the prevention to pay the tax. It is the major crime for non-payment of tax. person is liable to pay tax which is belong to his income not belong to other person. Tax rates may be progressive, regressive, or proportional. tax is imposed on different person according to their slab rates.

Income Tax In India

In India, income tax is introduced in 1860.Tax is levied on total income of assesse but not on every receipt. Assesse means that person who is liable for the payment of tax. No one can refuse to the payment of tax. Otherwise he is liable for the punishment (pay penalty the double amount of tax or imprisonment of 2-5 years).  So, it is the responsibility of the every person for the payment of tax. Now, 151 years passed, since we are paying the tax.

Rules & Importance of Income Tax

In India, income tax is introduced in 1860.Tax is levied on total income of assesse but not on every receipt. Assesse means that person who is liable for the payment of tax. No one can refuse to the payment of tax. Otherwise he is liable for the punishment (pay penalty the double amount of tax or imprisonment of 2-5 years). Every person more and more tried to non disclose of his income because of non payment of tax is called black money.