Indian tax law

Indian tax law requires individuals and businesses to pay taxes on their income, goods, and services. The main tax types include income tax (on earnings), Goods and Services Tax (GST) on sales, and other levies like customs duties. Income tax is progressive, meaning higher earners pay a higher percentage. The government uses these taxes to fund services like healthcare, education, and infrastructure. Taxpayers must report their income annually, maintain records, and comply with filing deadlines. Laws are enforced by tax authorities, and non-compliance can lead to penalties. Overall, tax law aims to promote economic development and ensure fiscal responsibility.