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• Capital Gains: Such incomes realized from assets sold constitute capital gains, either short-term or long-term depending on how long an asset had been held.

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• Capital Gains: Such incomes realized from assets sold constitute capital gains, either short-term or long-term depending on how long an asset had been held. Thus, the tax rates differ with the nature of capital gain.
• Rental Income of House Property: All the income accreted from the property let out also are taxable except for the expenditure allowed, which includes interest fo

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The rules of income tax group income into different classes and decide under what principles different types can be taxed in respect of their source and their nature. Of very common types of
• Income taxable, the following are mentioned: Salaries and Wages: This is generally the chief source of income for most people. Salaries are thus normally taxed through TDS as employers pay

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So, for each slab of tax, it is an additive combination: that slab imposes tax on only the part of income falling within the bracket of that slab. Most tax systems also feature provisions for deduction and exemption whereby tax liability reduces taxable income through either actual reduction or through exemptions.
• Basic exemption limit: This is the most basic amount that appears to be of income, say INR 2.5 lakhs. Th

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Example: Individual ta

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