Chapter 2 Tax Bases

Section 5 : Taxable income and classification of income headings

Estimated reading: 1 minute 106 views

The taxable income of any person in any income year shall be equal to the amount computed by subtracting the amount, if any, claimed pursuant to Section 12, 12A,12B, 63 or all these Sections from the grand total amount of assessable income of each of the following income headings in that income year:

(a) Business,

(b) Employment,

(c) Investment, and

1d) Windfall gain.

1 Inserted by the Financial Act, 2075.

Share this Law

Section 5 : Taxable income and classification of income headings

Or copy link

Discover Nepal's laws effortlessly. Our user-friendly platform simplifies legal understanding and accessibility, serving individuals throughout the country.