NISM 10B Investment Adviser Level 2 Notes
Page 57 Of 180
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Total Income: Gross total income minus allowable deductions.
Tax Slabs: Progressive rates applied to total income for individuals.
Old Tax Regime: Allows deductions like 80C, 80D, and HRA.
New Tax Regime: Lower rates but fewer deductions, introduced in 2020.
Salary Income: Includes basic pay, allowances, and perquisites.
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