Tax applies to all earners; ITR filing is sometimes mandatory even with no tax; gifts from relatives are exempt; global income is taxable for residents.
This infographic debunks myths about income tax in India. Tax is not just for salaried individuals—business owners and freelancers also pay tax. ITR filing may be required even with zero tax liability, especially for high-value transactions or foreign assets. Gifts from relatives are exempt, but gifts from non-relatives above ₹50,000 are taxable. Agricultural income is exempt but can affect tax rate. Indian residents must declare global income; non-reporting can attract penalties.