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WHAT IS INCOME TAX?
Step by Step Tax Return Filing Consultants in Delhi http://taxmitr.net Income Tax refers to the tax levied by the government for financing its various operations. It is counted on an annual basis, of the income earned in the previous year, also called the Assessment Year.

In simple language previous year (Assessment year) is the financial year in which the income is earned with profit. The earnings earned in the course of this previous year is charged to tax in the assessment year.

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