RGeneral Principles of Taxation Fundamental Principles in Taxation Taxation Taxation is the inherent power of the sovereign‚ exercised through the legislature‚ to impose burdens upon subjects and objects within its jurisdiction for the purpose of raising revenues to carry out the legitimate objects of government. It is also defined as the act of levying a tax‚ i.e. the process or means by which the sovereign‚ through its law-making
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Income Tax: Introduction The tax statutes in India: Income Tax Act‚ 1961 Income Tax Rules‚ 1962 Amendments made by Finance Acts decisions of Supreme Court decisions of respective High Court decisions of Income Tax Appellate Tribunals Notifications and circulars issued by Central Board of Direct Taxes (CBDT) Assessee 2 (7) “assessee” means a person by whom any tax is payable and includes— • A person by whom any tax
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E-COMMERCE AND TAXATION Thousands of businesses are selling goods and services through electronic commerce‚ including the Web and private electronic networks. Selling through electronic commerce is a rapidly growing channel for sales to both retail consumers and businesses. Since about one-quarter of all state and local revenue comes from sales‚ use‚ and gross receipts taxes‚ the state and local governments are eager to avoid losing any tax revenue to electronic commerce. Traditional
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forth. Values—widely held beliefs about what is acceptable or desirable. Activities and interests—nonoccupational behaviors to which consumers devote time and effort‚ such as hobbies‚ sports‚ public service‚ and church. Demographics—age‚ education‚ income‚ occupation‚ family structure‚ ethnic back- ground‚ gender‚ and geographic location Media patterns—the specific media the consumers utilize. Usage rates—measurements of consumption within a specified product category; often consumers are categorized
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national income …………………………………………………3 1.2. Overview of issues of National income in the world………………………………………3 SECTION 2……………………………………………………………………………………5 2.1. Definition of national income ………………………..........................................................5 2.2. Factors that determine national income…………………………………………………...6 2.3. Methods to measure national income………………………………………………………6 2.4. Treatment of national income from abroad………………………………………………...8 2.5. Uses of national income statistics
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. SEBASTIEN NDIKUM FIN534 HOME WORK 12 1. Which of the following statements is CORRECT? a. Perhaps the most important step when developing forecasted financial statements is to determine the breakdown of common equity between common stock and retained earnings. b. The first‚ and perhaps the most critical‚ step in forecasting financial requirements is to forecast future sales. c. Forecasted financial statements‚ as discussed in the text‚ are used primarily as a part of the managerial
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Ch.12-2‚ Modernization in Japan P.376-379 I. Japan Ends Its Isolation A. The Demand for Foreign Trade 1. Westerners tried to convince the Japanese to open their ports to trade a. British‚ French‚ Russian and America officials occasionally anchored off the Japanese coast b. Japan refused to receive them c. 1853‚ US commodore Matthew Perry took four ships into Tokyo harbor‚ socked Japanese d. Tokugawa shogun dubiously received Perry and the letter Perry had brought form US president
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History Income tax levels in India were very high during 1950-1980‚ in 1970-71 there were 11 tax slabs with highest tax rate being 93.5% including surcharges. In 1973-74 highest rate was 97.5%. But to reduce tax evasion tax rates were reduced later on‚ by "1992-93" maximum tax rates were reduced to 40%. [2][3] [edit]Residential status‚ Scope of taxable income & Charge [edit]Charge to Income-tax Whose income exceeds the maximum amount‚ which is not chargeable to the income tax‚ is an assesse
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early distributions Instructions for Form 5329 (2012) http://www.irs.gov/pub/irs-pdf/i5329.pdf Line 2 The additional tax on early distributions does not apply to the distributions described below. Enter on line 2 the amount that can be excluded. In the space provided‚ enter the applicable exception number (01-12). No. Exception 01 Qualified retirement plan distributions (does not apply to IRAs) you receive after separation from service in or after the year you reach age 55 (age 50 for qualified
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Reunification and Renaissance in Chinese Civilization: The Era of the Tang and Song Dynasties Chapter Thesis I. Rebuilding the Imperial Edifice in the Sui-Tang Era Sui Excesses and Collapse The Emergence of the Tang and the Restoration of the Empire Rebuilding the World’s Largest and Most Pervasive Bureaucracy Institutionalizing Meritocracy: The Growing Importance of the Examination System State and Religion in the Tang and Song Eras The Anti-Buddhist Backlash II. Tang Decline and the
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