COMMON INCOME TAX TERMS EVERYONE SHOULD KNOWS .

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INTRODUCTION

Hii Everyone .

So I Am So Grateful To Have A Good Informative Things To Share With All You Guys. I Hope You All Will Learn Something New Things. From My Blog. Today We All Learns About Income Tax Basics. How We All Want To Know What Is Income Tax. Might I Know You All People Knows Very Well. If You Are Earning In Your Life. So It’s My Pleasure To Be Have A Information About Income tax .So let’s Start The Topic . . So What Is Income Tax ? The amount of money you pay to the government according to how much you earn . That Is Called Income Tax .

tax are only in 2 types

Here we have a two Types Of Taxes.

1. Direct Tax Today we discussed About What Is Direct Tax. The tax which is directly paid by our self to the government. By our hard money. Earned. Tax is like a tool. When we getting salary tax is deducted from everyone’s salary Every Month . It’s s given

by businessman , Professional , salaried etc.

Tax is like a Automation machine which is deducted by our Salary From govt. . Where direct tax is applied. ( Income or profits ) Direct Tax is highly important To Pay for government . Direct tax is paid by same person who is giving And filling. And it will Pretend in based of income and profits. Highly earning people giving much more tax because they are earning Big. Amount. .

eg — income tax , corporate tax , etc.

2. Indirect Tax We All know about indirect tax which is paid to the government. From goods and services. Paid by the consumer. Is called indirect tax. . This tax is deducted by the government. That is known for the. (Gst). For example. – petrol , wines. , Electronic items , E-commercial shopping. , etc. Gst is a part of indirect tax. Every person gives tax from their purchases Whatever their income is. When customer is purchasing some goods and services. He is paying tax. In Short Direct tax is known for income . And indirect tax is known for shopping.

Explaination of tax

Tax Regimes & Tax Slabs – Old Tax Regime vs. New Tax Regime: The difference between the two. Tax Slabs: The percentage of tax applicable to specific income levels (e.g., 0%, 5%, 10%, etc.). Rebate (Section 87A): The provision for a full tax waiver up to a certain limit.

(new tax regime 2026–27)

Tax Regime shows that under 12 lakh Rs you don’t want to pay tax it’s a rule in 2026. given by govt. of India.

Standard deduction Show in income of. 12,75,000 Rs . in Indian income tax.

it’s All about Indian tax .

i Hope you all

5 Heads of Income:

.To calculate tax, income is categorized into five heads: Income from Salary (earnings from employment);

. Income from House Property (earnings from rent);

Profits and Gains of Business or Profession (PGBP) (profits from a business or self-practice,

. such as that of a doctor or lawyer); Capital Gains (profit earned from selling assets like land, a house, or shares);

.And Income from Other Sources (income not covered under the other categories, such as bank interest, lottery winnings, or gifts).

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