03-25-2010, 08:34 PM
1) Income tax is calculated in Taxable Income ==> Section 4
2) Taxable income Total income less Deductible amount ==> section 9
3) Total income is Sum of all heads of income ==> section 10
taxable income is sum of all heads of income,
But Income from property is taxed as separate block of income as rates are different so not included in totel and taxable income.
2) Taxable income Total income less Deductible amount ==> section 9
3) Total income is Sum of all heads of income ==> section 10
taxable income is sum of all heads of income,
But Income from property is taxed as separate block of income as rates are different so not included in totel and taxable income.
