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Income tax is that percentage of your income that you pay to the government for the betterment of the public at large . the income paid by taxpayers every month froms the large part of the revenue for the government of india this income can be categoriezed into different groups on the basis of the amount of income. Such groups are called as tax slabs. such tax slab tend to under go a change during every budget. Further budget 2020 has new tax regime following which individual will have the option to pay taxes. There are 3 categories of individual taxpayers
House Rent Allowance or HRA is a part of the salary provided by an employer to his employee for his rented accommodation.
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