Tag Archives: Taxable Income

Computation of Taxable Income and Tax

Computation of Taxable Income and Tax under Income Tax Act 1961 [As amended by Finance Act, 2015] Reference: www.Incometaxindia.gov.in Under how many heads the income of a taxpayer is classified for computing Taxable Income?​ ​S​ection 14​ of the Income-tax Act has classified the income of a taxpayer under five different heads of income, viz.: Salaries Income from… Read More »