Direct Tax(Income Tax): –
Income Tax is the Tax which is collected by the government directly from the individual or the company on their total income of the single financial year.
(F/Y start from 01/04/Every year to 31/03/every year).
Income tax has 5 heads as following: –
1. Income from Salary
2. Income from House property
3. Income from Business and Profession
4. Income from Capital gain
5. Income from Other Sources.