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Earned Income

Compensation received due to your physical or mental efforts and activity. Includes wages/salary and net earnings from self-employment. Does not include passive income such as interest, dividends, or capital gains.
Examples: You or your spouse must have earned income in order to contribute to a traditional or Roth IRA.

News On Earned Income
Union Budget Series: Key terms in the Budget  

03-03-2017| Source:Moneycontrol.com

Financial year and assessment year. Financial year (FY) runs from April 1 to March 31 of the next year; assessment year (AY) is the year following the FY. Tax on income earned in an FY is paid during

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