Tax accounting 1.461-2(c)(1) 1.461-4(d)(1) through (6) 1.461-4(e) 1.461-4(g)(1) through (7) 1.461-5 (a) through (c) Garber Abbey B [Abbey.B.Garber@IRSCOUNSEL.TREAS.GOV] Monday‚ February 04‚ 2013 11:30 PM Here are a few regulations Treas. Reg. sec. 1.461-1(a)(2)(i) Reg. sec. 1.461-1(a)(2)(ii) Reg. sec. 1.461-1(a)(3) Reg. sec. 1.461-1(c) We’ll work through these and more Thursday. Initial assignments for February 7: I.R.C. section 461 Look at Treas. Reg. Section 1.461-0
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Australian Tax Law BFA714 – Exempt Income BFA714_10 What is income? 2 Key Legislative Provisions ITAA97 • Economist View – Division 6: • • • • • – Traditional economic view of income is that it is a ‘gain’ • Recognises both realised and unrealised gains as income s 6-5 Ordinary income s 6-10 Statutory income s 6-15 Not assessable income s 6-20 Exempt income s 6-23 Non-assessable non-exempt income – Other Relevant Divisions: • • • • • Tax View • Only
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NCOME-TAX ACT‚ 1961* [43 OF 1961] [AS AMENDED BY FINANCE ACT‚ 2012] An Act to consolidate and amend the law relating to income-tax and super-tax BE it enacted by Parliament in the Twelfth Year of the Republic of India as follows :— CHAPTER I PRELIMINARY Short title‚ extent and commencement. 11. 2(1) This Act may be called the Income-tax Act‚ 1961. (2) It extends to the whole of India. (3) Save as otherwise provided in this Act‚ it shall come into force on the 1st day of April‚ 1962. Definitions
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Should the Federal Tax on gasoline increase to help pay for public transportation and road improvements? Gas companies shouldn’t raise their taxes based on the need for money for public transportation because many citizens who live in the U.S. use public transportation instead of buying gas. By them not having to buy gas that will cause those who don’t use public transportation to be forced to pay for something that they don’t use. While doing so those who use the public transportation may reap
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----------------------- ITC PAY Basis SSI – entitled to receive‚ FSI – received in Sg Current a/c interest – accrues evenly over time Fixed Deposit interest – date of maturity 1. Net Acc profit (before dep & tax) Expense Deductible N.D Charge to P/L Nothing Add Not charged Minus Nothing Revenue Taxable N.T Credited to P/L Nothing Minus Not credited Add Nothing Add: 10(1)(a) income not credited to P/L Expense charged for Non 10(1)(a) Less: Non 10(1)(a) income credited
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benefits‚ and other miscellaneous costs. This report proposes that these costs and problems need to be addressed‚ and one avenue through which they can be is a junk food tax. This report proposes that there be a federal tax placed on junk food purchases‚ similar to the taxes placed on gasoline and tobacco products. This tax would dissuade people from purchasing unhealthy food items. At the same time it would help the nation offset some of the financial costs that obesity has generated. The proposition
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course analyzes the tax treatment‚ tax problems and tax planning techniques involving transactions between corporations and their shareholders: transfers to corporations; capital structure; dividends and other distributions; stock redemptions and liquidations; stock dividends and preferred stock bailouts; and provides an introduction to S corporations. Prerequisite TA 330. 2. Course Objectives The objective of the course is to provide students with a firm understanding of tax issues concerning
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BILLS OF EXCHANGE According to Indian Negotiable Instrument Act‚ “ A bill of exchange is an instrument in writing‚ an unconditional order‚ signed by the maker‚ directing a certain person to pay a certain sum of money only to or to the order of certain person or to the bearer of the instrument.” CHARACTERISTICS Bills of exchange has got the following features: 1. An Unconditional order It is an order by the drawer (creditor) to his drawee {debtor) without any condition
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MONEY BILL:- 1) Money Bills can be introduced only in Lok Sabha (the directly elected ’people’s house’ of the Indian Parliament). 2) Money bills passed by the Lok Sabha are sent to the Rajya Sabha (the upper house of parliament‚ elected by the state and territorial legislatures or appointed by the president). The Rajya Sabha may not amend money bills but can recommend amendments. A money bill must be returned to the Lok Sabha within 14 days or the bill is deemed to have passed both houses in
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The Bill of Rights The First 10 Amendments • By Keana Roby‚ James Jamison‚ Amber Fealy‚ & Paige Evans. 1st Amendment • The 1st Amendment guarantees freedom of religion‚ speech‚ the press‚ assembly‚ and petition. • This means that we have the right to – • Practice any religion desired • Speak freely • Assemble (such as social gatherings/meetings) • Petition (address the government‚ hold protests‚ etc. • Press (to publish newspapers‚ TV‚ radio‚ Internet 2nd Amendment • The 2nd
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