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.
Overseas Citizenship of India The Overseas Citizenship of India (OCI) is an immigration status authorized for a foreign citizen of Indian origin to live and work in the Republic of India indefinitely. The OCI was introduced in response to demands for dual citizenship by the Indian diaspora, particularly in developed countries. It was introduced by The Citizenship (Amendment) Act, 2005 in August 2005. It was launched during the Pravasi Bharatiya Divas convention held in Hyderabad in 2006.[1]