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Income Tax

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Income Tax


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Scorecard | Fri 24 Feb


Current

India vs Australia Test

Maharashtra Cricket Association Stadium, Pune ,2/23/2017, 09:30 (IST)


recent

Australia vs Sri Lanka T20

Simonds Stadium, Geelong ,2/19/2017, 13:50 (IST)

Sri Lanka beat Australia by 2 wickets

Zimbabwe vs Afghanistan ODI

Harare Sports Club, Harare ,2/21/2017, 13:00 (IST)

Zimbabwe beat Afghanistan by 3 runs

New Zealand vs South Africa ODI

Hagley Oval, Christchurch ,2/22/2017, 03:30 (IST)

New Zealand beat South Africa by 6 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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