ICWAI Objective Type questions and Answers on Indirect Tax 1. Multiple Choice Questions (1) Excise duty can be levied on those goods which are a) Manufactured in India b) Sold in India a) Removed from the factory b) None of the above (2) Dutiable goods means a) Goods are subject to Central Excise duty b) Goods which are exempted from excise duty c) Non excisable goods d) Goods not at all mentioned in the Central Excise Tariff (3) Place of Removal under Central Excise means
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Lafora progressive myoclonus epilepsy is a fatal form of autosomal recessive neurodegenerative disorder that is characterized by the presence of insoluble polyglucosan inclusion bodies‚ known as Lafora bodies. They are generally found in many of the body’s tissues such as within the cytoplasm of the cells of the heart‚ liver‚ muscle‚ and skin but the signs and symptoms of the disease are limited to the nervous system. The disease presents with epileptic seizures followed by progressive central nervous
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Tax Planning to Avoid Paying the Alternative Minimum Tax I worked for Ernst and Young in New York City for my busy season internship. I was placed in the Financial Services Office‚ and more specifically‚ I did tax returns for high-net-worth individuals working for financial institutions. Because all of our clients were millionaires‚ we had to fill out IRS Form 6251 to see if a client would be subject to the Alternative Minimum Tax. During the year‚ my department spends a significant amount of
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are in support of the current progressive
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The Tax Research Process The overriding purpose of tax research is to find solutions to the tax problems of one’s clients or employer. The process is similar to that of traditional legal research. The researcher must find authority‚ evaluate the usefulness of that authority‚ and apply the results of the research to a specific situation. One can identify two essential tax research skills: * The first is using certain mechanical techniques to identify and locate the tax authorities that relate to
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of real estate tax Mortgage interest expense Home equity loan Deduction of interest on home equity loans When “points” are deductible Deduction of interest on debt between related parties Contribution to an individual and church Value received for contribution Charitable contribution: benefit received Contribution of services Timing of contribution Timing of contribution Charitable contribution: various Medical expense deduction and reimbursement Medical expenses: deduction and tax benefit rule 10-1
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JUSTIFICATION OF GST There was a burden of "tax on tax" in the pre-existing Central excise duty of the Government of India and sales tax system of the State Governments. The introduction of Central VAT (CENVAT) has removed the cascading burden of "tax on tax" to a good extent by providing a mechanism of "set off" for tax paid on inputs and services upto the stage of production‚ and has been an improvement over the pre-existing Central excise duty. Similarly‚ the introduction of VAT in the States
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Woodrow Wilson‚ is the most progressive presidents this country has ever had. The many progressive reforms that he made affected the country positively because the United States started to become known as a Progressive country. Some examples of the many progressive reforms he made are The Workingmen’s Compensation Act of 1916‚ The Federal Reserve Act of 1913‚ and The Child Labor Act of 1916. One of the many reasons as to why Woodrow Wilson is the most progressive president is because of The
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During week ten we discussed‚ The Progressive Era‚ 1900-1916. The Progressive Era was changes that occurred in the U.S. during the early 1900’s. The twentieth century began and America wanted to progress through social and political response of immigration‚ urbanization and growth of corporation (Zeide 10/21). There were many important people who emerged during this time from‚ journalists to female reformers‚ labor activists‚ and politicians. The Progressive Era was successful in many ways; Dubs
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RETROSPECTIVITY OF TAX STATUTE Submitted By: Priya Misra Id. No.: 490 NATIONAL LAW SCHOOL OF INDIA UNIVERSITY BANAGALORE ACKNOWLEDGEMENT The first and most academic debt that I have incurred during the preparation of this project is to Prof. Rajendra Babu‚ I am also grateful to the library staff for helping me in searching for the relevant data. Priya Misra CONTENT Introduction
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