What is taxable amount?
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Taxable income refers to the base upon which an income tax system imposes tax. Generally, it includes some or all items of income and is reduced by expenses and other deductions. The amounts included as income, expenses, and other deductions vary by country or system.
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Taxable income is the amount of income used to calculate how much tax an individual or a company owes to the government in a given tax year.
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