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प्रश्न
What do you mean by Total Income?
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उत्तर
Out of Gross Total Income, Income Tax Act 1961 allows certain deductions under section 80. After allowing these deductions the figure which we arrive at is called ‘Total Income’ and on this figure tax liability is computed at the prescribed rates.
- Gross Total Income
- Less: Deductions (Sec. 80C to 80U)
- Total Income (T.I.)
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संबंधित प्रश्न
Choose the Correct Answer.
The period of assessment year is ______
Choose the Correct Answer.
The year in which income is earned is known as ______
Choose the Correct Answer.
The aggregate income under five heads is termed as ______
Choose the Correct Answer.
Agricultural income earned in India is ______
What is meant by the previous year?
What is an assessment year?
What is Gross Total Income?
List out the five heads of income.
Write a note on Agricultural Income.
Elucidate any five features of Income Tax.
