NATIONAL INCOME:- What is National Income? National Income is the sum that is total money value of all the goods and services produced in one accounting year. So when we talk about goods and services we are only talking about the final goods and services and not the semi processed‚ when we take the money value of all the goods and services produced within the domestic boundary on India only and to not other countries. CONCEPTS OF NATIONAL INCOME IN TERMS OF MARKET PRICE:- 1) Gross Domestic
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INCOME TAX Introduction : The income tax is administrated Income Tax Ordinance‚ 1984 and the Income tax Rules‚ 1984 as well as notification made under the Ordinance. The charge of tax of a person depends on its resident ship. Total world Income of a resident is charged to tax in Bangladesh. Where as a non-resident’s Bangladesh income is only charged to tax in Bangladesh. There are seven heads of income. The are salary‚ interest on security‚ house property‚ agriculture‚ business and profession
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about income inequality. It is global income inequality is increasing. Besides that that’s is more information about measurement for the income inequality The relationship between the income inequality and economic growth Technological change and globalisation partly on income inequality‚ Way to reduce the income inequality‚ Causes of income inequality‚ and High income inequality gap-Latin America. Mostly it is all about the income inequality in this assignment is telling about the income inequality
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Income Level Income level has an effect on behaviors‚ including what people buy and how much they will pay. According to Bieker‚ consumer spending forms two-third of all spending in the economy. A change in consumer income will result in consumers buying more or less of product at all possible prices and also cause a change in demand and a shift of the demand curve. If the income and savings of consumers are high (the high consumer spending level)‚ their purchase is parallel or even more expensive
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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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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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INCOME CONCEPTS The Purpose of Income Reporting Income is used… 1 As the basis of one of the principal forms of taxation. 2 In public reports as a measure of the success of a corporation’s operations. 3 As a criterion for the determination of the availability of dividends. 4 By rate-regulating authorities for investigating whether those rates are fair and reasonable. 5 As a guide to trustees charged with distributing income to a life tenant while preserving the principal for a remainder man
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_ Tran Nam Quan: Blue Bui Minh Tri Quy : Task 1: Which of the following items are income: Rent from a residential rental property rented by a young family? yes‚ ordinary income under sec. 6-5 A birthday gift ? No A dividend from BP? Yes‚ Statutory income under sec.44(1) ITAA 1936 Wages and Salaries from your employer? Yes. Ordinary income under sec 6-5 Bank Interest Received? Yes‚ Ordinary income under sec 6-5(2) Your boss takes you out to dinner? No An allowance paid for your
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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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disposable income. B. Total consumer spending divided by total income. C. Disposable income divided by consumption. D. The change in disposable income divided by the change in consumption. 2) Assume a consumption function is C = 500 + .80 Yd. This means A. Consumers will save 80 cents out of each additional dollar in disposable income. B. Consumers will spend $500 in addition to current income. C. Consumers will spend $500 plus 80 cents out of each dollar of disposable income D. he marginal
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