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Taxes

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Specials

A receipt is your entire income before tax deductions. Not all receipts are considered as income. Basically, they are of two kinds:

1. Capital receipt: This is the income earned by selling the source or asset. For example, income earned from selling a property, gold, etc.

2. Revenue receipt: Income from source such as salary, interest accrued on deposits, rent from property is termed as revenue receipt.

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