Showing posts from February, 2023

Sources of Income under Income Tax Act 1961

The Income Tax Act 1961 recognizes five main sources of income for tax purposes. These sources are income from salary, income f…

What is Debtor? (Role & Type of Debtor)

A debtor is a person or entity that owes money to another person or entity, known as a creditor. In financial accounting, the co…

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