As per the Income Tax Act‚ 1961 where a person dies‚ his legal representatives shall be liable to pay any sum which the deceased would have been liable to pay if he had not died‚ in the similar manner and to the same extent as the deceased. As per section 159 of the Income Tax Act‚ 1961 (Act)‚ even when a person dies‚ the assessment of his income is to be done upto the time of his death. So‚ the legal representative of the deceased has to file the income tax return for the income on which the deceased
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Importance of National Income Statistics There are several important uses of national income statistics and‚ therefore‚ there is great need for their regular preparation. National income estimates provide not only a single figure showing the national income‚ but also supply the detailed figures in regard to the various components of the national income. It is both the figure of national income and the details regarding its various constituents that throw light on the functioning and performance
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Does peaceful resistance affect our laws positively or negatively? In fact peaceful resistance has a positive impact on our laws. Just like publicity‚ non-violence is supposed to lower the bars of negative effects‚ impacting our laws. The relationship between the american public and laws enforcement has always‚ had a violent nature that as a country has never been able to escape. Yet‚ throughout the years the people of this country have used peaceful resistance to change so much of the mistakes‚
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Budget Summary My perception of quality of life changed dramatically during this project. Living at a low income wage was a difficult thing to do especially at $26‚560 a year. Living with all of the basic necessities took up a large portion of my paycheck. At a wage where my wife and I are barely getting our family by is stressful on many levels. I was trying to find the best deals on food and after school care without sacrificing quality and health. Cheaper food was not nutritional so I had to
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Classificatory smoothing of Income with Extraordinary Items - Summary Within this paper they talk about whether extraordinary items are used to smooth ordinary or operating income over time. The role of extraordinary items was never really looked at become separately and that is what they wanted to look at. They talk about how previously the focus was on net income after extraordinary items but that it is important to look at net income before extraordinary items also
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oyment incomeEMPLOYMENT INCOME Source of Employment Income The basis of taxation on employment income is that income from exercising an employment in Malaysia is regarded as Malaysian derived income. All income attributable to the employment exercised in Malaysia is subject to Malaysian tax irrespective of where the remuneration is paid. Where an employee is required to perform his duties outside Malaysia‚ the entire remuneration is still chargeable to Malaysian tax if the services rendered outside
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Take a look around you the next time you step into a city choking with smoke and noise‚ and ask yourself if is this is how you want to live out the rest of your life. Set an example to others by being the first to change‚ before you speak up for change. It’s a chain reaction that hopefully will catch on soon when it comes to saving what’s left of the planet. Ways to Save Our Environment With global warming on the rise‚ it’s no news that this has been an age-old concern for us all. No one stopped
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capital gain and taxable income of $35‚000. If taxpayer collects the entire $10‚000 during the current year‚ $8‚000 needs to be included in gross income. True False 4. A cash basis taxpayer must include as income the proceeds from the sale of an account receivable to a collection agency. True False 5. If an account receivable written off during a prior year is subsequently collected during the current year‚ the amount collected must be included in the gross income of the current year
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Our founding founders influenced the creation of separation of powers because there was a new structure of government. Hence‚ it was a powerful national government that had the authority over the states and the people. As result our founding father created the Legislative‚ Executive and Judicial power. This was indispensable for defense against tyranny. In fact‚ they
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How Ethics Influences Leadership In order to draw a correlation of ethics to leadership and provide an overview‚ I find that I must first place the elements of the correlation into the following contextual reference: definitions offered in the textbook‚ the objectives of the lesson(s)‚ and finally our societal or cultural paradigms at play. In our textbook Supervision by Certo‚ ethics is defined as the principles by which people distinguish what is morally right and leadership as the management
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