‘Macro-Economic Analysis for Rural Society’ Assignment on: PROBLEMS AND PROSPECTS OF DIRECT TAXATION IN INDIA By Manu Bansal (U311024) PGDM-RM-I-2011 Submitted to Prof.Sureswari Prasad Das Xavier Institute of Management‚ Bhubaneswar INRODUCTION TO DIRECT TAXATION:- ------------------------------------------------- General meaning In the general sense‚ a direct tax is one paid directly to the government by the persons (juristic or natural) on whom it is imposed (often accompanied
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COST ACCOUNTING Select the one best answer for each: 1. Which one of the following would not be classified as manufacturing overhead? a. Indirect labor b. Direct materials c. Insurance on factory building d. Indirect materials 2. Prime costs of a company are $3‚000‚000‚ manufacturing overhead is $1‚500‚000 and direct labor is $750‚000. What is the amount of direct materials? a. $1‚500‚000. b. $750‚000. c. $2‚250‚000.
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TYPES OF COSTS Introduction :-Production is the result of services rendered by various factors of production.The producer or firm has to make payments for this factor services. From the point of view of the factor inputs it is called ‘factor income’ while for the firm it is ‘factor payment’‚ or cost of inputs.Generally‚ the term cost of production refers to the ‘money expenses’ incurredin the production of a commodity. But money expenses are not the only expensesincurred on the production
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different nations‚ take advantage of cheaper factor costs. Other forms of FDI: * Exporting: producing goods at home then shipping them to the receiving country for sale * Licensing: granting a foreign entity right to produce and sell the firm’s product in return for royalty fee on every unit sold Flip side of FDI: Horizontal direct investment: * FDI in the same industry abroad as company operates in at home. * Expensive‚ must bear costs of establishing production facilities in a foreign
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source same End result ! ends with financial statements ! integral part of other business aspects B. Cost Accounting Terminology 1. Nature of Cost Cost - A sacrifice of resources: Cost is a measurement in monetary terms of the amount of resources used for some purpose. Expense - The cost charged against revenue in a particular accounting period. 2. Purposes of Gathering Cost Information Routine decision making:
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Writing Indirect Messages This chapter presents writing approaches for two different message categories‚ when transmitting strong negative information and persuading someone to act‚ both of which usually use an indirect organization. There is no resistance to overcome in direct messages but in the above two types of messages we are likely to encounter resistance. The difficulty of writing a negative message stems from its bipolar objectives: (1) to transmit the bad news clearly and (2) to maintain
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foreign-controlled firms in India‚ and evaluates the contribution of foreign investment over the last five decades. We assess the impact of government policy towards foreign capital‚ and outline policy implications for the future. Keywords: India‚ foreign direct investment‚ MNCs‚ reform JEL classification: F21‚ F23‚ L6 Foreign investment in India Private Foreign Investment in India* August 1999 Abstract Private foreign capital‚ whose presence in Indian industry was long regarded with concern and
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DIRECT OBJECTS I OBJECT! Think of direct objects as receiving the action of the verb. Not every sentence will have a direct object. In order to have a direct object you must have three things: • • • An action verb The direct object must be a NOUN. You can answer the question‚ “what?” or “whom?”* Be sure to ask the correct question. Otherwise‚ you might find the subject. The correct question will follow this form: subject + verb+ WHAT? subject + verb+ WHOM? Check out the example
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accounting profits and economic profits for Gomez’s pottery. Explicit costs: $37‚000 (= $12‚000 for the helper + $5‚000 of rent + $20‚000 of materials). Implicit costs: $22‚000 (= $4‚000 of forgone interest + $15‚000 of forgone salary + $3‚000 of entreprenuership). Accounting profit = $35‚000 (= $72‚000 of revenue - $37‚000 of explicit costs); Economic profit = $13‚000 (= $72‚000 - $37‚000 of explicit costs - $22‚000 of implicit costs). 8-4 (Key Question) Complete the following table by calculating
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Nigeria Introduction Value Added Tax (VAT) was introduced in Nigeria in 1993 but became effective on 1 January 1994. VAT replaced the Sales Tax. VAT is governed by the Value Added Tax Act‚ Chapter V1‚ Laws of the Federation of Nigeria (LFN) 2004. The tax is administered by the Federal Inland Revenue Service (FIRS). Rates and scope Rates The standard VAT rate on goods and services is 5%. Value for VAT purposes includes customs duties‚ taxes‚ commission‚ transport‚ insurance and other charges
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