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Income Tax


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Scorecard | Sat 30 May


Current

England vs New Zealand Test

Headingley, Leeds ,5/29/2015, 15:30 (IST)


recent

Pakistan vs Zimbabwe T20

Gaddafi Stadium, Lahore ,5/24/2015, 19:30 (IST)

Pakistan beat Zimbabwe by 2 wickets

Mumbai Indians vs Chennai Super Kings T20

Eden Gardens, Kolkata ,5/24/2015, 20:00 (IST)

Mumbai Indians beat Chennai Super Kings by 41 runs

Pakistan vs Zimbabwe ODI

Gaddafi Stadium, Lahore ,5/26/2015, 16:30 (IST)

Pakistan beat Zimbabwe by 41 runs

About Income Tax


An income tax is a tax levied on the income of individuals or business (corporations or other legal entities). Various income tax systems exist, with varying degrees of tax incidence. Income taxation can be progressive, proportional, or regressive. When the tax is levied on the income of companies, it is often called a corporate tax, corporate income tax, or profit tax. Individual income taxes often tax the total income of the individual (with some deductions permitted), while corporate income taxes often tax net income (the difference between gross receipts, expenses, and additional write-offs). Various systems define income differently, and often allow notional reductions of income (such as a reduction based on number of children supported).

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