Tax Macha

Section 194A

Income Tax of India, 1961 is the governing legal act in respect of levy, collection, administration and recovery of direct taxes in India. It is in short the ultimate document when it comes to understanding income tax in India. It lays down all the rules and regulations in respect of Direct Taxes in India. Thus, the implementation of the Income Tax Act lays the responsibility of paying the tax on the individual or corporate earning income in India.