Need A Financial Product Forums Tax Savings What is income tax?

This topic contains 1 reply, has 2 voices, and was last updated by  Bhushan Adav 3 years, 4 months ago.

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
  • #47468

    Bhushan Adav

    What is income tax?


    Nikhil Singh

    The product of taxable income and rate of tax is calculated as income tax. It is imposed on the individuals by the government varying with their income. It is different for different income holders. Different jurisdictions have different criteria of imposing taxes on the individuals. Some jurisdictions exempt charitable organisations from paying taxes depending on various financial facts. It is the levied amount on salary, commission, wages, interests and rents. It is of two types. Personal income tax imposed on income of the individuals and corporate income tax imposed on the profits and income earned by incorporated organisations.

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.

About Us

Simplypaisa, a web initiative by Elite Wealth Advisors Ltd, has the primary objective to help readers make smart financing decisions. What is smart finance? How to make smart financing decisions to procure assets or to meet one’s personal needs? Information is critical to make smart financing decisions: be it to purchase your dream house, a car, to start a business or to enable an entrepreneur to meet his/her working capital needs.Read More...


Elite Wealth Advisors Ltd.
S-8, DDA Shopping Complex,
Near Jeevan Anmol Hospital,
Mayur Vihar Phase-1, Delhi-110091.
Phone No: 011-42445800
Email :

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.