EXEMPTIONS/AMENDMENTS IN/WITHDRAWAL OF EXISTING EXEMPTIONS Rate of service tax restored to 12% As per section 66‚ the charging section under earlier regime‚ rate of service tax was 12% of the value of taxable services. However‚ the rate of service tax was reduced to 10% vide Notification No. 8/2009 ST dated 24.02.2009. With effect from 01.04.2012‚ Notification No. 02/2012-ST dated 17.03.2012 rescinded the said notification and the rate of service tax was restored to 12% for the period between 01.04.2012 to 30.06
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3 CHAPTER TAX DETERMINATION; PERSONAL AND DEPENDENCY EXEMPTIONS; AN OVERVIEW OF PROPERTY TRANSACTIONS Instructor: The test items in both the print Test Bank and ExamView test-creation software are numbered by question type within each chapter. Thus‚ users of ExamView can more easily preview their selections using the printed Test Bank in the same numbering system. Status: Present Topic TRUE OR FALSE 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 Level of current income
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PERSONAL COPY/ NOT FOR SALE OR CIRCULATION (Session 2012-13) INTRODUCTION HISTORY OF INCOME-TAX: 1. India’ trust with income tax dates back to 1859 when James Wilson‚ Finance member in the Council of India‚ came to the country to establish the tax structure‚ a new paper currency and to remodel the finance system. 2. A bill imposing tax on profits from property‚ professions‚ trades and offices was passed by the Legislative Council of India. It received the assent of the Governor General on July
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Introduction) Tax Structure in Malaysia Generally‚ all income of companies and individuals accrued in‚ derived from or remitted to Malaysia are liable to tax. However‚ income remitted to Malaysia by resident companies (other than companies carrying on the business of banking‚ insurance‚ air and sea transportation)‚ non-resident companies and non-resident individuals are exempted from tax. Apart from income tax‚ there are other direct taxes such as real property gains tax‚ and indirect taxes
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"The position of Women" The change of the position of women in Egypt has been strongly observed in the last few decades. Some radical Muslims regard this change as an exaggerated liberation for the woman that they claim that is not accepted. While‚ other people see that this change is the start of civilization for the country. In the 1870 ’s the Egyptian women lacked many of their rights‚ they were treated almost as slaves. Hence‚ the Egyptian women kept fighting for their rights for many
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Petersan Tax Return Teri A Burris Federal Income Taxes I ACC 401 Gary Tate 1 April 2013 In order to properly prepare a tax return‚ there should be a complete list of the correct documentation in order to facilitate In this case Harold and Sarah Petersan; the forms will be a varied depending on their information. Harold and Sarah Petersan is a married couple living in California‚ with one dependant. Both husband and wife
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Indirect tax Section 1 This section is about applying your knowledge of VAT and using reference material to make recommendations or decisions. Task 1.1 (a) You have the following information about the taxable supplies of 4 businesses. For each of them‚ indicate whether they need to register for VAT immediately‚ or monitor turnover and register later. Tick ONE box on EACH line. Register now Monitor and register later A A new business with an expected turnover of £6000 per
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University of Central Punjab * Assignment: Income tax return filling * Presented to: Prof Imran Shehzad * Presented by: Sami Elahi * Registration number: L1F11MCOM2077 * Date: 12-01-2013 Question (Case study) Tax year 2013 Mr. Sami is employee of a private company with following emoluments’. * Basic salary 60‚000 PM * Medical allowance 8‚000 PM * House rent allowance
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TAX HAVEN Index Definition and characteristics of Tax Haven Page 2 Tax Haven Criteria Page 5 Particularities of some tax havens Page 7 Evolution of the Spanish Tax Law Page 11 1. Definition and characteristics of Tax Haven Probably most people have heart about tax havens‚ but maybe there are confusions about the exact meaning of this concept. So on‚ we consider important to define a tax haven in order to have a clear idea. What identifies an area as a tax haven is the existence
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MEMORANDUM TO: Dr. Green FROM: Kecia Carter DATE: November 28‚ 2010 RE: Tax Memo #1/Gambling Activities Issue #1 Dr. Green is a practicing physician in Chicago who‚ as an avid blackjack and slot machine player‚ travels to Las Vegas bi-weekly to gamble. He would like to know what criteria are used to determine whether his gambling activities constitute a trade or business for federal income tax purposes and whether or not you think his gambling activities qualify for trade or business
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