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.
It is the responsibility of the every person for the payment of tax. Now, 151 years passed, since we are paying the tax. since we are paying the tax.
- Tax deposit on -------notified branch
- File return -------income tax department
It is very necessary for payment of tax. It is abolished by the government 1998.
Constitution and taxation:
- Union list: tax on income other than agriculture income.
- State list: tax is levied on agriculture on agriculture income when Punjab government wants. Other tax is not paid on the agriculture income. But in Karnataka, impose tax on the agriculture income.
- Concurrent list: Criminal procedure, including all matters included in the Code of Criminal Procedure at the commencement of this Constitution, Bankruptcy and insolvency.
According to the “Albert Einstein”, the hardest thing in the world to understand in the income tax.
Our tax is based on the English law. It is more complicated concept. It is very difficult for the entire person to understand this law.
