ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Amount taken out of your paycheck such as taxes and retirement.
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deduction
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deficit
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reduction
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debits
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Explanation:
Detailed explanation-1: -Who Is Eligible to Claim Deduction Under Section 10 of the Income Tax Act? Usually, people below the age of 60 are eligible to get a basic tax exemption limit of ₹ 2.50 Lakhs. For senior citizens, the exemption limit is up to ₹ 3 Lakhs.
Detailed explanation-2: -The biggest statutory payroll tax deduction is for the federal income taxes themselves. These are calculated according to each year’s payroll tax deductions chart.
Detailed explanation-3: -Income tax. Social security tax. 401(k) contributions. Wage garnishments. Child support payments.
There is 1 question to complete.