The full form of IT is Information Technology. It is used in context of computers. In order to manage information in the IT sector, software and computers are used. Here, computer software and electronic computers are used to convert, protect, and store data and information in a secure manner. In an organisation, it covers Databases, Servers, Operating Systems, Physical Hardwares, etc. Home Computer or Personal Networks are not identified under this category. Few of the important fields that are classified under IT are Web Design, Database Design, Software Development, Data Management, Cyber Security, Networking, etc.
Another full form of IT is Income Tax. It is a tax on a person’s income that she has to pay mandatorily to the Government of any country. It is a phenomena through which the government at any level collect a small part of income of a person. The person who has a higher income pays higher tax. Those with low income pay in lower amount. In India, both State and Central government collect income taxes from company, property, firms, individuals, etc. Further, the government utilises this fund in order to develop public properties, programmes, etc.