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Exit Guide

What is Income Tax?

It is a tax on our income that we should compulsorily pay to the government every year.

Income tax is charged on income from the following:

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    Salary

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    Rent

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    Pension

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    Interest on savings

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    Interest on FDs

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    Mutual funds, shares, bonds, securities, gifts, lottery, etc.

In the next sections, let us see who is required to pay income tax, how to calculate taxable income, and what are the tax slabs applicable.

In the next section, we'll learn about who should pay Income Tax

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