ENTREPRENEURIAL PLANNING
FINANCIAL PLANNING AND ANALYSIS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
The amount on which taxes are calculated after adjustments, deductions, and exemptions.
|
|
taxable income
|
|
|
surplus
|
|
|
net income
|
|
|
None of the above
|
Explanation:
Detailed explanation-1: -Taxable income is the income of an individual or organization, minus any allowable tax deductions. It is the amount of income an entity makes every year upon which the government levies taxes.
Detailed explanation-2: -So, your total income is the sum of your salary, rental income, and capital gains. Next, subtract the tax-free earnings from the total income. These would be, for example, gains from equity shares if held for more than a year. You should also check your salary for taxable and non-taxable components.
There is 1 question to complete.