In India, there are two types of taxes one is direct tax which is directly levied upon the income of the individual and another is indirect tax which is levied indirectly upon an individual. Example of direct tax is income tax and of indirect tax is Goods and Services Tax, service tax etc.
Every individual who receives income in India is subject to income tax under the Income Tax Act, 1961. Under Income Tax Act there can be income from 5 different heads which are Income from salary, house property, capital gains, business and profession and other sources. Income of individuals, Hindu undivided family, association of person, body of individuals firms and companies are taxed under the Income tax act.
We are going to help you with a proper IT return filing for you and your business.