Income tax is a subject which change every year. With financial provisions and amendments , Income tax law is changed every year. For writers , it is so difficult to walk with time . But , after all , I try to include all new amendments of next financial bill .
Govt. expenses are increasing day by day for the welfare of public . So , income tax has become so important . Income tax is main source to reduce inequality . With this Govt. can create Socialist Society .
Main feature of Income tax is that it is unbiased , if we compare it with sale tax or excise duty . Because , it is on the income of assessee according to the capacity to tolerate the burden of income tax . This is the base of economic structure of India .