Income Tax Filing Consultant in Goregaon

A direct tax, income taxes are governed by the Central Board of Direct Taxes (CBDT). The Income Tax Act of 1961 governs the income tax levy, tax rate, slab rate, and other procedures. Everyone who has directly or indirectly accumulated money in India is subject to the Income Tax Act and is required to pay income tax in accordance with the tax laws. According to the Income Tax Act of 1961, the assessee is eligible to make deductions and exclusions. A Permanent Account Number (PAN) issued by the Income Tax Department is required for everyone who falls under the purview of the Income Tax Act. Every person who has a valid PAN assigned by ITD is required to quote the PAN on all financial transactions that do not exceed the Income Tax Act's permitted limits.