Comprehensive reference covering direct & indirect taxes, GST reforms, tax slabs, penalties, and compliance requirements.
Income Tax • Corporate Tax • STT
GST • Custom Duty • VAT
ITR • TDS • Penalties
Understanding the fundamental concept
Derived from the Latin word "taxo", a tax is a compulsory fee or financial charge levied by a government on individuals or organizations to raise revenue for public works. The collected funds finance various public expenditure programs including development work, infrastructure, military funding, and administrative services.
Failure to pay taxes or resisting contribution invites punishment under pre-defined laws. Tax evasion is a criminal offense with severe penalties.
Based on payment method to taxation authorities
Paid directly by taxpayer to government. Correlates directly with income or wealth of registered taxpayers.
Estimating tax earnings is relatively easy due to direct correlation with taxpayer income/wealth.
Consumption-based taxes applied to goods/services. End-user pays seller, who forwards tax to government.
Government receives payment from seller, who passes tax burden to end consumer.
Access official Income Tax Department services and resources
File income tax returns online
Track your tax refund
View tax credit statement
Calculate your tax liability
Link your Aadhaar with PAN
Pay TDS on property purchase
Check PAN card status
Make advance tax payments
Download instant e-PAN card