Income Tax is imposed by the Indian government on an individual, company, business, Hindu undivided families (HUFs), co-operative organization and trusts.
Goods and Services Tax (GST) is a proposed system of indirect taxation in India merging most of the existing taxes into single system of taxation.
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In view of the recent amendments in Income Tax Act,1961 inserted few new sections and also amended sub section in Income Tax by Finance Act,2021