CAPITAL GAINS Capital gains means gains arising to an assessee on transfer of a capital asset. This clearly implies that to bring income taxable under the head capital gains‚ both the elements namely “Capital asset” & “transfer” has to be present in the given transaction. As such‚ we should seek absolute clarity with respect to these two terms. Sec. 2(14) of the I. Tax Act deals with the definition of the term “Capital Asset”. It is an inclusive definition. Capital asset includes property of
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finances to run the government and often to aid the government in day to day business ventures. In the current financial economy direct taxes such as: income tax‚ real property tax‚ business licenses are some of the required supplements to taxation. Indirect taxes such as: general sales taxes on groceries‚ marriage licenses and auto purchases become the revenue needed to sustain governmental functions while encouraging the usage or non-usage of a product or services. Both the producers and consumers
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such a tax could raise a lot of revenue”(Paul Krugamn and Robin Wells). American citizens benefited from the Revolutionary War‚ so shouldn’t they have to pay for it? I strongly believe they should due to the benefits principle of economics. According to the benefits principle those who benefit from the spending should have to pay the tax. Since whiskey was so popular and almost everyone on America used it‚ it was the perfect item to tax. With nearly everyone consuming or producing whiskey the whiskey
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Bibliography: BALDWIN‚ M‚ 1999. Card Protection Plan Ltd v C & E Comrs (Case C-349/96). De Voil Indirect Tax Intelligence LAWRENCE‚ N. AND HOMER‚ A. AND BURROWS‚ R. VATwise. 1st edition. Croyden: Tolley‚ 2. PINCHER‚ R.‚ 2001
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essay books 2.30-2.59 BOOKS AND MATERIAL TO BE REFERRED ACCOUNTS : ✓ Module if at all for Sundry Chapters else not required. ✓ Classes Notes ✓ Compilation ✓ Last four Papers ✓ For Standards (Rawat‚ Dolphy D’sa or Vijay Kumar) FM : ✓ Classes Notes ✓ Compilation (approx 80% is covered by Jks) ✓ Last four Papers ✓ For Theory Compilation is enough. ✓ For conceptual understanding of Derivatives and allied chapters Shridhar is
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decision-making Get a detailed report at http://www.marketoptimizer.org/morocco-upstream-fiscal-and-regulatory-report.html . Table of Contents Regime Overview Key Fiscal Terms Upfront Payments Bonuses Training Contributions Direct Taxation Indirect Taxation Regulation and Licensing Overview Licensing Process License Terms Outlook Contact Information
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explanation of the task at the end of your resume or case? 12. If you used a different medium‚ why did you? D. Organize the Information 13. What is your main idea or career focus? 14. Will you use the direct or indirect approach? 15. Why are you using the approach you chose? II. Write E. Adapt to Your Audience 16. How will you show sensitivity to your audience’s needs? 17. How much credibility do you already have with
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Malaysian Accounting Review‚ Vol. 10 No. 2‚ 13-25‚ 2011 TECHNICAL COMPARISON BETWEEN BUSINESS ZAKAT AND TAX ON BUSINESS INCOME IN MALAYSIA Rohila Awang Mohd Zulkifli Mokhtar Faculty of Management and Economics Universiti Malaysia Terengganu Abstract The focus of this paper is to demonstrate the technical comparison between business zakat and taxation. This paper aims to enhance the knowledge on the part of zakat assessment and the management of zakat as compared to the system of taxation in Malaysia
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Causes for Generation of Black Money There are several factors responsible for the emergence – of black money. It would be relevant to discuss those factors so that a correct understanding about the genesis‚ growth and expansion of black money can be made. The principal factors are: (i) Beginning of the evil: The beginning of this evil can be traced to the Second World War. During this period supplies of industrial goods from the traditional suppliers of the West were cut off. This resulted in
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How important a part does money play in your life? Money plays a huge role in most people’s lives‚ as many of the decisions we make are solely based on their economical connotations. Money can determine what class system you are in‚ what sort of lifestyle you lead and how often you go abroad. However‚ money affects some people’s lives in different ways than others. My entire lifestyle is debatably controlled by the amount of money my family has. If my parents had less money‚ I would not
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