Message: Return type of CI_Session_files_driver::open($save_path, $name) should either be compatible with SessionHandlerInterface::open(string $path, string $name): bool, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Message: Return type of CI_Session_files_driver::close() should either be compatible with SessionHandlerInterface::close(): bool, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Message: Return type of CI_Session_files_driver::read($session_id) should either be compatible with SessionHandlerInterface::read(string $id): string|false, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Message: Return type of CI_Session_files_driver::write($session_id, $session_data) should either be compatible with SessionHandlerInterface::write(string $id, string $data): bool, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Message: Return type of CI_Session_files_driver::destroy($session_id) should either be compatible with SessionHandlerInterface::destroy(string $id): bool, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Message: Return type of CI_Session_files_driver::gc($maxlifetime) should either be compatible with SessionHandlerInterface::gc(int $max_lifetime): int|false, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
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Income tax is a direct tax collected by the Central Government and is levied on all income other than agricultural income on a person liable to pay such tax. The income tax on agricultural income is a state matter and only state governments can tax a person on agricultural income.
The Income Tax Act, 1961, is the law governing tax on income of an assessee (person who is liable to pay tax). This legislation comprehensively defines different assessees, the rate of tax applicable to each one and other requirements.
In terms of income tax law, a person liable to pay tax includes the common citizen, association of people, companies (domestic and foreign companies), firms and LLPs. The income of people and companies is computed.
The heads of income envisaged under income tax law are:
Income from salary
Income from house property
Income from business and profession
Income from capital gain
Income from other sources
WEALTH TAX
Wealth tax is a direct tax that is charged on the net wealth of the assessee and on the benefits derived from ownership of property. The tax has to be paid yearly on the market value of a property, whether or not the property yields any income. Wealth tax in India is levied under the Wealth Tax Act, 1957. The Department of Income Tax under the Department of Revenue in the Ministry of Finance administers the Wealth Tax Act, 1957, as well as the Wealth Tax Rules framed there under.
Wealth tax rate is charged at 1% on net wealth exceeding 30 lakh (Rs 30,00,000).
