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What is Income Tax?

Income tax is a tax payable on the income or dividends of an individual or entity. Tax under the Income Tax Ordinance 1984 means income tax payable under the ordinance, additional tax, surplus tax, fine, interest, or recoverable amount. In other words, the tax is a compulsory amount paid to the government to meet the expenses of the state in the interest of all the people of the state.

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