Questions and Answers
What is the year in which income of a person is assessed and taxed?
Assessment Year
What is the comprehensive statute that governs taxation in India?
The Income Tax Act
Which type of tax is imposed directly on individuals or entities?
Direct tax
What is the term for income that is not included in the total income for tax purposes?
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Which type of income includes profits and gains from a business or profession?
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What is the year in which income of the person is assessed and taxed?
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Which type of tax is imposed on goods and services?
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What does the Income Tax Act of 1961 focus on?
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Which type of income is not included in Total Income for tax purposes?
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What is the term used for the year in which income is earned?
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