Scroll Top


    Tax laws


    In India, income tax laws are governed by the provisions of The Income Tax Act,1961. The act comes with a wide range of sections. Every section caters to different aspects of taxation in India. The act also provides for levy, administration, collection and recovery of income tax in India.

    What is Tax laws?

    The income tax act consists of 23 chapters and 298 sections approximately.The Income Tax Law consists of Income Tax Act 1961, Income Tax Rules 1962, Notifications and Circulars issued by the Central Board of Direct Taxes (CBDT), Annual Finance Acts and judicial pronouncements by the Supreme Court and High Courts. The act is a comprehensive statute that focuses on different rules and regulations that govern taxation in the country.

    Who is eligible to pay?

    The Government of India make amendments or changes to the income tax act every year through budget. The budget is announced every year, usually in the month of February, by the finance minister of the country.

    A detailed breakdown of the procedure for filing the tax

    For example, the Finance Minister announced that the tax rate for individuals in the lowest tax bracket of Rs. 2.5 lakh to 5 lakh would be cut from 10% to 5% in FY 2017-18. Similarly, tax on Long Term Capital Gains (LTCG) was reintroduced during the FY 2018-19 budget. As a result, all long term capital gains more than Rs. 1 lakh from equity share or equity-oriented mutual funds will be at the rate of 10%.

    Such changes becomes a part of the Income Tax Act from the following financial year (beginning from 1st April) following the approval from the President of India.


    Clear offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants in India. Clear serves 1.5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses across India.

    Efiling Income Tax Returns(ITR) is made easy with Clear platform. Just upload your form 16, claim your deductions and get your acknowledgment number online. You can efile income tax return on your income from salary, house property, capital gains, business & profession and income from other sources. Further you can also file TDS returns, generate Form-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income Tax Filing.

    CAs, experts and businesses can get GST ready with Clear GST software & certification course. Our GST Software helps CAs, tax experts & business to manage returns & invoices in an easy manner. Our Goods & Services Tax course includes tutorial videos, guides and expert assistance to help you in mastering Goods and Services Tax. Clear can also help you in getting your business registered for Goods & Services Tax Law.

    Save taxes with Clear by investing in tax saving mutual funds (ELSS) online. Our experts suggest the best funds and you can get high returns by investing directly or through SIP. Download Black by ClearTax App to file returns from your mobile phone.

    Cleartax is a product by Defmacro Software Pvt. Ltd.

    Company PolicyTerms of use


    ISO 27001

    Data Center


    SSL Certified Site

    128-bit encryption