B Com Exam > B Com Videos > Income Tax Laws > Basic Concepts of Income Tax - Introduction, Income Tax Laws
Basic Concepts of Income Tax - Introduction, Income Tax Laws Video Lecture | Income Tax Laws - B Com
|
27 videos|25 docs|12 tests
|
FAQs on Basic Concepts of Income Tax - Introduction, Income Tax Laws Video Lecture - Income Tax Laws - B Com
| 1. What is Income Tax? |  |
Ans. Income tax is a tax levied by the government on the income of individuals, organizations, or any other legal entities. Income tax is a direct tax and is calculated based on the income earned by the taxpayer during a financial year.
| 2. What are the basic concepts of income tax? | |
Ans. The basic concepts of income tax include taxable income, tax rate, tax exemption, tax deduction, and tax credit. Taxable income refers to the income that is subject to tax after deducting exemptions and deductions. Tax rate refers to the percentage of tax that is levied on the taxable income. Tax exemption refers to the amount of income that is exempt from tax. Tax deduction refers to the amount of money that can be deducted from taxable income to reduce the tax liability, whereas tax credit refers to the amount of money that can be deducted from the tax liability itself.
| 3. Who is liable to pay income tax? | |
Ans. Any individual, organization, or legal entity that earns income is liable to pay income tax. The income tax laws vary depending on the country and the tax jurisdiction.
| 4. What are the different types of income tax returns? | |
Ans. The different types of income tax returns include ITR-1, ITR-2, ITR-3, ITR-4, ITR-5, ITR-6, and ITR-7. These forms are used to file returns for different categories of taxpayers, such as individuals, HUFs, companies, firms, LLPs, and more.
| 5. Can income tax be paid online? | |
Ans. Yes, income tax can be paid online through the government's e-filing portal or through authorized banks. Taxpayers can also pay their taxes through net banking, debit cards, credit cards, or other electronic payment methods.
Related Exams
About this Video
|
24.3K Views |
|
4.73/5 Rating |
|
Nov 15, 2024 Last updated |
Video Description: Basic Concepts of Income Tax - Introduction, Income Tax Laws for B Com 2024 is part of Income Tax Laws preparation.
The notes and questions for Basic Concepts of Income Tax - Introduction, Income Tax Laws have been prepared according to the B Com exam syllabus.
Information about Basic Concepts of Income Tax - Introduction, Income Tax Laws covers all important topics for B Com 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Basic Concepts of Income Tax - Introduction, Income Tax Laws.
Introduction of Basic Concepts of Income Tax - Introduction, Income Tax Laws in English is available as part of our Income Tax Laws for B Com & Basic Concepts of Income Tax - Introduction, Income Tax Laws in
Hindi for Income Tax Laws course. Download more important topics related with notes, lectures and mock test series for
B Com Exam by signing up for free.
Description
Video Lecture & Questions for Basic Concepts of Income Tax - Introduction, Income Tax Laws Video Lecture | Income Tax Laws - B Com - B Com full syllabus preparation | Free video for B Com exam to prepare for Income Tax Laws.
Information about Basic Concepts of Income Tax - Introduction, Income Tax Laws
Here you can find the meaning of Basic Concepts of Income Tax - Introduction, Income Tax Laws defined & explained in the simplest way possible.
Besides explaining types of Basic Concepts of Income Tax - Introduction, Income Tax Laws theory, EduRev gives you an ample number of questions to practice Basic Concepts of Income Tax - Introduction, Income Tax Laws tests,
examples and also practice B Com tests.
|
27 videos|25 docs|12 tests
|
|
Explore Courses for B Com exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
mock tests for examination
,Income Tax Laws Video Lecture | Income Tax Laws - B Com
,Viva Questions
,Free
,past year papers
,ppt
,MCQs
,video lectures
,Basic Concepts of Income Tax - Introduction
,Extra Questions
,Sample Paper
,practice quizzes
,Summary
,Semester Notes
,Basic Concepts of Income Tax - Introduction
,Important questions
,Basic Concepts of Income Tax - Introduction
,Exam
,Income Tax Laws Video Lecture | Income Tax Laws - B Com
,Income Tax Laws Video Lecture | Income Tax Laws - B Com
,Objective type Questions
,study material
,shortcuts and tricks
,Previous Year Questions with Solutions
;
Study Basic Concepts of Income Tax - Introduction, Income Tax Laws on the App
Students of B Com can study Basic Concepts of Income Tax - Introduction, Income Tax Laws alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Basic Concepts of Income Tax - Introduction, Income Tax Laws,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Basic Concepts of Income Tax - Introduction, Income Tax Laws is prepared as per the latest B Com syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup