Exemptions, deductions and rebates may sound similar, but they work at different stages of tax calculation and directly influence how much tax a taxpayer finally pays ...

This explains how the new law defines “income” using an inclusive approach rather than a fixed list. The key takeaway is that any real economic gain is taxable unless specifically ...

Capital Gains Tax and Income Tax are both methods by which governments generate revenue, but they target different types of income. Income tax is levied on the regular income of an individual or ...