lex-o-pedia
What is the concept of Income Taxable under the Income Tax Act, 1961?
The Income Tax Act, 1961, taxes income under five heads: salary, house property, business/profession, capital gains, and other sources. Income includes monetary and non-monetary forms, with provisions for deductions, exemptions, and adjustments to compute taxable income.
lex-o-pedia
What is the concept of Income Taxable under the Income Tax Act, 1961?
The Income Tax Act, 1961, taxes income under five heads: salary, house property, business/profession, capital gains, and other sources. Income includes monetary and non-monetary forms, with provisions for deductions, exemptions, and adjustments to compute taxable income.
