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Option a: Income tax
Income tax is a tax levied on an individual or group with respect to the income or profits received by the individual or group. Income tax is usually calculated as the product of tax rate and taxable income. tax rates may vary depending on the type and characteristics of the taxpayer and the type of income.
Income tax is a tax that the government imposes on income generated by businesses and individuals within its jurisdiction. Income tax is used to fund public services, pay government obligations, and provide goods to citizens.
what is income tax? the tax levied on the income of a company or individual is known as income tax. Income taxable income can come from various sources, including wages, salaries, dividends, interest, loyalty, rent, gambling prizes, and product sales.
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