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Income Tax


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Scorecard | Mon 27 Mar


Current

New Zealand vs South Africa Test

Seddon Park, Hamilton ,3/25/2017, 03:30 (IST)

India vs Australia Test

Himachal Pradesh Cricket Association Stadium, Dharamsala ,3/25/2017, 09:30 (IST)


recent

India vs Australia Test

JSCA International Stadium Complex, Ranchi ,3/16/2017, 09:30 (IST)

India drew with Australia

Afghanistan vs Ireland ODI

Greater Noida Sports Complex Ground, Greater Noida ,3/24/2017, 09:30 (IST)

Afghanistan beat Ireland by 7 wickets

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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