Income Tax is levied and collected by central government. It is the tax imposed on the income generated by the person (Individual, HUF, Partnership firm, LLP, Company, AOP, BOI, Trust, Local Authorities, All artificial judicial person). Income Tax Act 1961 governs provisions of income tax in India. The Act has been amended numerous times. The Act had 23 chapters, from time to time as many as 27 chapters has been added subsequently. Some of the major chapters are as follows.
Chapter IV: Computation of Income (contains five heads of Income)
Chapter VI-A: Deduction to be made in computation of Income (Section 80C, 80D etc)
Chapter XVII: Collection and Recovery of Tax (contains TDS/TCS, Advance Tax Provision)