Income tax has a wider scope when compared to capital gains tax.
Capital gains tax has a narrower scope when compared to income tax.
The income tax has a completely variable structure, and it is totally dependent on the specific tax bracket.
The rate for capital gains tax is completely dependent on the actual period of ownership of an asset.
The income tax is defined as a direct tax that is imposed by the government upon their citizens based on the income
The capital gains tax, on the other hand, is defined as a tax on the profit that a person
The source for the earnings that is taxable under the income tax includes wages, salaries, royalties, interest, rents, product sales, etc.
The source for earnings that is taxable under the capital gains tax includes stocks, shares, bonds, property, etc.
There are five main heads of income that are covered under the income tax.
There are two main categories under the capital gains tax.
A capital gain then occurs.
Income tax is one such tax.
Which is levied by the government on the income of any person.