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Category: Finance
What is the Income Tax? There are two types of tax levy one is a direct tax and the second one is an indirect tax. Income tax is a direct tax that is directly attributable to the income of the assessee. Income which is generated from the various head of income viz.Salary, House Property, Business, Capital Gain and Income from other sources. The assessee has to pay Income tax if his total Income after allowing Chapter VI-A Deduction is more than the taxable income limit. Read more at the given link.
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