who needs to pay income tax in india
Income tax in India The government imposes a tax on taxable income of all persons who are individuals, Hindu Undivided Families (HUF's), companies, firms, LLP, association of persons, body of individuals, local authority and any other artificial juridical person. Levy of tax on a person depends upon his residential status. The CBDT administers the Income Tax Department, which is a part of the Department of Revenue under the Ministry of Finance, Govt. of India. Income tax is a key source of funds that the government uses to fund its activities and serve the public.
Taxation in the Republic of Ireland A taxpayer's tax liability is reduced by the amount of his tax credits, which replaced tax-free allowances in 2001.[10] Tax credits are not refundable in the event that they exceed the amount of tax due, but may be carried forward within a year.[10]