Introduction to income tax

Tax is paid by...

• Individuals only

• Businesses only

• Individuals and businesses

• Individuals, businesses, and the government

Tax is used by each level of government to...

• Make politicians rich

• Pay for their employees

• Pay for services that some of the population use

• Provide goods and services that are needed by the community

Income Tax Act was passed in the year

• 1924

• 1961

• 1962

• 1988

Which is the present Assessment Year?

• 2018-19

• 2019-20

• 2020-21

• 2001-02

Which is the present Previous Year?

• 2018-19

• 2019-20

• 2020-21

• 2001-02

TDS

• Tax Deducted at Source

• Total Deducted at Source

• Tax Deducted at Sample

• Tax Due at Source

Earnings of a salesperson based on the percentage of goods or services sold.

• Salary
• Wages
• Commission
• Deductions

Tags

CCSS.6.RP.A.3C

An employee's fixed agreed yearly income. 

• Salary
• Deductions
• Wages
• Commission

How many weeks in a year?

• 365
• 52
• 26
• 12

Tags

CCSS.4.MD.A.1

This is paid to the Government once a person's income passes a set amount. 

• Fees
• Wages
• Tax
• Salary

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.3

CCSS.RI.9-10.3

CCSS.RI.9-10.5