Heads of income Under the concept of total income, there are various heads or categories of income that are considered for the purpose of computing an individual’s or a business’s overall income. The specific heads of income may vary depending on the tax laws and regulations of a particular country. However, the common heads of… Read More »
Difference between Income and Salary Difference between income and salary refer to all the money earned by an individual, including salaried as well as other sources of incomes such as investments, rental and business profits. To visit: https://www.incometax.gov.in Money, specifically refers to the compensation pay to an employee by their employer in exchange for their… Read More »
Direct and Indirect Expenses Direct and indirect expenses Difference DirectExpense Direct expense or income are those expenses or income that are directly related to the production or sale of goods or services. They are directly traceable to a specific product or service and can be allocated to it without any difficulty. Examples of direct expenses… Read More »
Source of Income Vs Head of Income Source of Income: The source of income and the head of income both are two different concepts use in the computation of income tax for filling the Income Tax Return. The source of income refers to the origin or the place from where the income is earn For… Read More »
Taxation of Income From House Property Taxation of income from House property comes Under the head “Income from house property,” any income earned by an individual from a house property that own by them charge to tax. This income includes the rent received from the property, and also any income earned from a property that… Read More »
Capital income Vs Capital Gains Capital gains and capital Income are two different concepts in the field of finance. It’s refers to any income earned from capital assets, such as interest income from bonds, dividends from stocks, or rental income from a property. Capital income is typically earned as a regular income stream and… Read More »
TDS Compliances TDS Compliances, is a chart for the financial year 2022-23 in India. Please note that the rates and thresholds mentioned below are based on the information available up to my knowledge cutoff in September 2021. It’s always advisable to refer to the official tax department website or consult with a tax professional… Read More »
Calculation Of Total Income To calculate your total income, you will need to add up all of the income you have earned during the year from various sources. Calculation of total income can include: To Visit https://www.incometax.gov.in/ 1.Salary or wages earned from your job 2.Income from freelance or self-employment work 3.Interest earned from savings accounts… Read More »
Difference between revenue and tax Difference between revenue and tax are so many. Both Revenue and tax are two distinct concepts in the realm of finance and government. Revenue refers to the funds or income generated by individuals, businesses, or governments through various channels, including sales, services, investments, and taxes. It represents the overall amount… Read More »
Difference land revenue and Land Tax Difference land revenue and Land Tax, It’s distinct terms used in the realm of land ownership and taxation. Land revenues denotes the payment made by the landowner to the government for utilizing and occupying the land. It is a periodic payment remitted by the landowner to the… Read More »