Taxable Income
Total income minus allowable deductions, on which your tax is calculated.
Explained Simply
Taxable income is what's left after subtracting allowable deductions and exemptions from your total income. Slab rates (or applicable rates) are then applied to it to work out the tax.
Legal Definition
Section 9 of the Income Tax Ordinance, 2001.
📖 Section 9
Educational definition, not legal advice. Verify against the statute text (Section 9) before acting.
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