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Work At Home Free Classifieds => Post Your Products & Services Here => Topic started by: ajshco on February 28, 2013, 06:08:36 AM

Title: Who is supposed to pay Income Tax?
Post by: ajshco on February 28, 2013, 06:08:36 AM

Any Individual or group of Individual or artificial bodies who/which have earned income during the previous years are required to pay Income tax on it. The IT Act recognizes the earners of income under seven categories. Each category is called a Status. These are Individuals, Hindu Undivided Family (HUF), Association of Persons (AOP), Body of individuals (BOI), Firms, Companies, Local authority, Artificial juridical person.

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