Taxable income refers to the base upon which an income tax system imposes tax.
Generally, it includes some or all items of income and is reduced by
expenses and other deductions. The amounts included as income, expenses,
and other deductions vary by country or system. Many systems provide
that some types of income are not taxable and some expenditures not
deductible in computing tax. Some systems base tax on taxable income of
the current period, and some on prior periods. Taxable income may refer
to the income of any taxpayer, including individuals and corporations,
as well as entities that themselves do not pay tax, such as
partnerships(1)
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2. Holiday Homes - Taxable Income and Apportionment of Rental Tax Deductions
3. Tax Reduction Strategies - How to Turn Taxable Income Into Tax-Free Income
4. Preparing Income Taxes - Standard Or Itemized Deductions Reduce Taxable Income
5. Direct Taxes Code 2009 - Proposed Income Tax Rates From 1 April 2011
(1) http://en.wikipedia.org/wiki/Taxable_income
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