This document discusses income tax in India. It defines taxes as compulsory financial charges imposed by the government rather than voluntary payments. Taxes are a major source of government revenue and can be direct (e.g. income tax, wealth tax) or indirect (e.g. GST, excise duty, customs duty). Income tax in India is levied according to the constitution, by the central government as a direct annual tax on individuals based on their income in the previous year.