Adulting Basics 101 (Finance):
Income
โข Active โ $ in from active work (salary/wages)
โข Passive โ $ in with little effort (dividend/rent)
โข Portfolio โ $ in from investments (stocks/bonds)
โข Business โ $ in from owning a business (profits)
โข Freela
Financial knowledge
Indian Tax slabs
Income tax slabs categorize taxpayers based on their annual income, determining the applicable tax rates. Here's a breakdown:
1. Nil Tax: Annual income up to โน2.5 lakh for individuals below 60 years.
2. 5% Tax: I