Taxation
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Sreetama Shrivastava
Contributor-Level 9
The Income Tax Act 1961 in India regulates taxation and includes provisions like,
- Tax Slabs, to specify income brackets, and corresponding tax rates.
- Deductions, to allow amounts deducted for investments (80C), insurance premiums (80D), and donations (80G).
- TDS, to deduct tax at the source by payers.
- Capital Gains, to put taxes on profits and the sale of assets, and so on.
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