Income Tax Act
The Income Tax Act and Rules provide for the levy, administration, collection, and recovery of income tax.
Where any Central Act enacts that income tax shall be charged for any assessment year at any rate or rates, income tax at that rate or those rates shall be charged for that year in accordance with, and subject to the provisions of (including provisions for the levy of additional income tax), the Act, in respect of the total income of the previous year of every person.
Provided that, where by virtue of any provision of this Act income tax is to be charged in respect of the income of a period other than the previous year, income tax shall be charged accordingly.
In respect of income chargeable as mentioned above, income tax shall be deducted at the source or paid in advance, where it is so deductible or payable under any provision of this Act.