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<h1>Liability to pay income tax on total income for the financial year under Direct Taxes Code, 2010.</h1> Every person is liable to pay income tax on their total income for the financial year as per the Direct Taxes Code, 2010. Income tax, including additional charges, is levied on the total income for the financial year and may also apply to periods other than the financial year as specified. The tax is charged at rates outlined in the First Schedule and can be deducted or collected at source, or paid in advance. The applicable provisions for determining tax liability are those in effect on April 1st of the financial year.