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Posted September 30, 2013 by advocateguru in Learning Centre
 
 

CHARGES OF INCOME TAX

 Income tax is imposed on taxable income of all persons including individuals, Hindu undivided families, companies, firms, association of person, and body of individuals

All types of income is chargeable to tax except agricultural income.

Income from salary is chargeable under income from salaries, income from business is charged to tax under Profits and gains of business or profession, income from lottery, horse race, dividend, gift.etc, is charged under income from other sources like Capital gains tax, Income from house property is also chargeable to tax.


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