Income tax

Tax based on taxable income

An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them. Income tax generally is computed as the product of a tax rate times the taxable income. Taxation rates may vary by type or characteristics of the taxpayer and the type of income.

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Income Tax authorities unearthed 52kg of gold and Rs 10 crore cash from an abandoned vehicle near Bhopal, linked to raids on real estate firms. The operation,..
Credit: IndiaTimes - Published 2 days ago

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