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The Indian Income Tax Act, 1961, categorizes income under specific heads for taxation. Each head's charging sections define the scope of income to be taxed,
The Indian Income Tax Act, 1961, categorizes income under specific heads for taxation. Each head's charging sections define the scope of income to be taxed, ensuring clear identification and appropriate taxation of income sources. Discuss precisely all the heads of income as mentioned under the Income Tax Act 1961. ELaborate and answer in 1000 words or less.
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