Individual (Resident) Taxes
Income Tax

The Government of India imposes an Income Tax on Taxable Income of individuals, Hindu undivided Family, (HUFs), Companies, Firms, Co-operative Societies and Trusts (identified as body of individuals and association of persons) and any other artificial person. Levy of tax is separate on each of the persons. The levy is governed by the Indian Income Tax Act, 1961; The Indian Income Tax Department is governed by the Central Board of Direct Taxes (CBDT) and is part of the Department of Revenue under Ministry of Finance, Govt. of India.

Individual Income tax structures (effective 1 April, 2011)
a. For a resident woman (who is below 60 years on the last day of previous year



b. For a resident senior citizen (who is below 60 years or more at any time during previous year but not more than 80 years on the last date of previous year.



c. For a resident senior citizen (who is 80 years or more at any time during the previous year)



d. For any other individual (born after April 1, 1952), every HUF/AOP/BOI/artificial juridical person