Income Tax

It is the last quarter of the current financial year. A time when most of us go back to the drawing board to find out how to reduce taxes. Tax-loss harvesting is one of the several ways through which you can do so.

Marginal tax rate is the rate of tax that applies to the last rupee of income you earn. It helps the government collect tax based on how much a person earns. In India, the income tax system uses a progressive structure. This means that higher income gets taxed at higher rates.

One of the most commonly used measurements by economists and policymakers when assessing the economic health of an area is per capita income. To simply define per capita income: it's the average income of the people residing in a particular geographic area, like a city, state, or nation.

In recent years, freelancing has transitioned from a part-time pursuit to a full-time career for many in India. Whether as writers, designers, developers, or influencers, a growing number of people are participating in the gig economy.

You may receive interest on the balance in your savings account. While this interest counts as income, it is also subject to tax. However, under India’s Income Tax Act, Section 80TTA allows individuals to claim a deduction on this interest income, helping reduce their overall tax liability.

Profit after tax is a vital business metric that tells whether your business is making a profit or loss. Investors closely look at PAT before deciding to invest in a company.