Clause 2 - Liability to pay, and charge of, income-tax. - Direct Taxes Code, 2010

CHAPTER II BASIS OF CHARGE Liability to pay, and charge of, income-tax. 2. (1) In accordance with the provisions of this Code, every person shall be liable to pay income-tax in respect of his total income of the financial year. (2) Subject to the provisions of this Code, income-tax, including additional income-tax, shall be charged in respect of the total income of a financial year of every person. (3) Where the income-tax referred to in sub-section (2) is to be charged in respect of the income of a period other than the financial year, the income-tax for such period shall be charged accordingly. (4) The income-tax referred to in sub-section (2) shall be charged at the rate specified in the First Schedule in the manner provided therein. (5) In respect of the income chargeable under sub-section (2), income tax shall be deducted or collected at source or paid in advance, in accordance with the provisions of this Code. (6) The chargeability of income-tax on the income of a financial year under the foregoing provisions shall be determined in accordance with the provisions of this Code as they stand on the 1st day of April of that financial year.