Income Tax Is not one Tax but an Aggregation Of Taxes Tax is a fee charge by the Govt. on any product income or activity. Taxes in India are of two types‚ Direct Tax and Indirect Tax. Direct Tax‚ like income tax‚ wealth tax‚ etc. are those whose burden falls directly on the taxpayer. The burden of indirect taxes‚ like service tax‚ VAT‚ etc. can be passed on to a third party. Income Tax is all income other than agricultural income levied and collected by the central government and shared
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Last year many famous pop and sports stars earned millions of dollars each. Many other entertainment and sports personalities also have very high incomes. On the other hand‚ most people in ’ordinary’ professions like nurses‚ doctors and teachers earn only a small fraction of the income of these ’stars’. What do you think about stars receiving very high salaries? Is it fair that jobs that directly help people are paid much less? Some people may argue that while those pop and sports stars are earning
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Equilibrium Level of Income The Consumption and Saving Functions Consumption is the part of income spent on goods and services yielding direct satisfaction. It occupies the biggest chunk of the expenditure on output. Y= C+S Where Y= Income C= Consumption S= Saving Factors Influencing Consumption 1. Distribution of national income 2. Interst rate 3. Desire to hold cash 4. Price level 5. Population 6. Income 7. Taxes 8. Attitudes and values Consumption function is the relationship
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time? (Muni) Write the history of national income estimates in India? What are the estimates of National Income before and after independence? Ans: Estimations of National Income before independence: Several estimates of National Income were prepared during the British period. The 1st estimate of national income was prepared by Dadabhai Nauroji for the year 1867 - 68. Accordingly the N.I and Per Capita Income of the country were Rs. 340 crores & Rs
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However‚ every income is taxable under income tax law‚ whether it is received in cash or in kind‚ whether it is capital or revenue income‚ but still some incomes are given exemption from tax. In this lesson we will study those incomes which are exempt from tax. Here are some of the important items of income‚ which are fully exempt from income tax and which can be utilised by a resident individual Indian assessee for the purpose of tax planning. ➢ AGRICULTURAL INCOME: Under the
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Osteen Kids Welcome to the world of Osteen Kids preschool. We are a successfully running school teaching the kids of 2 years to 5 years and helping them in building their future. The students are our main aim and providing them with the basic education is a matter of pride for us. We collaborate with the parents and try to bring improvements in our teaching process. We crater all the needs which the parents demand. The teachers are experienced and they pay special attention to the students and attend
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you take - pro-life or pro-choice? This paper is not here to merely to explain what both sides are or to point out the flaws of each. This paper’s goal is to give new insight to this issue that has been piercing the world for so long. And of course‚ this is not merely for entertainment. This paper was written in hopes to touch your conscience‚ to give you a reawakening‚ to open your eyes to an option you never knew existed. But first‚ let your mind wander to the basics. What is pro-life? Of course
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Per capita income Definition The total national income divided by the number of people in the nation Another definion Per capita income means how much each individual receives‚ in monetary terms‚ of the yearly income generated in the country. This is what each citizen is to receive if the yearly national income is divided equally among everyone. ... Formula of per capita income per capita income= national incomepopulation Per capita income of pakistan The economic survey of Pakistan 2009-2010
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A variety of measures of national income and output are used in economics to estimate total economic activity in a country or region‚ including gross domestic product (GDP)‚ gross national product (GNP)‚ net national income (NNI)‚ and adjusted national income (NNI* adjusted for natural resource depletion). All are specially concerned with counting the total amount of goods and services produced within some "boundary". The boundary is usually defined by geography or citizenship‚ and may also restrict
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Maryanne D. Exiomo June 9‚ 2011 Case Study – Modernization of NTUC Income Prof. Ray Ganotice 1. What were the problems faced by Income in this case? How were the problems resolved by the new digital system? - Income had problems with how they process their insurance because it is very tedious and paper-based. The way they do business costs them time‚ because it takes them more days to finish a certain request for insurance; money‚ because they need to upgrade HP3000 mainframe
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