Taxable base

Tax Glossary Definition

Taxable base

The taxable base is the value, amount, or asset on which a tax is calculated. It represents the economic quantity subject to taxation, such as income, profits, property value, or sales. The tax rate is applied to the taxable base to determine the total tax liability.

Example: For a corporate income tax, if a company earns ₹50 lakh in net profits, the taxable base is ₹50 lakh. If the corporate tax rate is 30%, the company owes ₹15 lakh in taxes (30% of ₹50 lakh).

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