Tax Glossary Definition
A tax system where income from various sources is taxed separately, leading to distinct tax assessments on different types of income like industrial and commercial profits, wages and salaries, income scheduler tax system is a method of taxation where different categories of income are assessed and taxed under separate schedules or headings. Each source of income—for example, employment earnings, business profits, property income, or investment returns—is evaluated independently, with distinct rules, rates, and allowable deductions applied to each category.
Example: In a scheduler system, income from salary may be taxed under one schedule, while rental income or dividends are assessed under separate schedules, each subject to its own tax rate and exemptions. from securities and shares, and income from land.
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