In India income tax is applicable to the person resident in India. As the income tax is applicable on the total income earned by the person in financial year included all source of income chargeable to tax. Although the income tax is collected by the government of India is main source of revenue of the
In income tax there is deduction allowed to resident person on the basis of payment or investment made by the assesse during previous year out of saving of income earned during the year. The government to appreciation of investment or funding for the specified sector and launches various scheme for the resident which is exemption