Income tax ..

A tax May be defined as “a compulsory extraction made by government from the public.

Definite source of income , income must come from outside, tainted income, diversion of income, temporary ,permanent income, dispute regarding the title etc. All of these are the main features of income tax

Assessment year

It’s mean the period of 12 months commencing on the ist Day of April every year . if you have a question about why we Used month of April any other query you can drop comments . I m just brief ly explain

Previous year

In simple word the income earned in py which is to be assessed to tax in relevant year

Some exception

In case of Person leaving the country

Discounting business

Transfer there assets to avoid tax

Thnku for Reading my Post if you like this And give me suggestion comment And I will next time this type of concept write if you like

Thnku

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