Ch. 12 Taxable Income and Tax Payable for Corporations I. Calculation of Net Income For Tax Purposes and Taxable Income - Corporations follow the applicable ordering rules of Section 3 in computing NITP Net Income for Tax Purposes Less: Div C deductions Taxable Income Most of the Div. C deductions for corporations are DIFFERENT from the Div. C deductions for individuals. Div C deductions for Corporations: 1. Charitable
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The article “School Uniforms: the Good‚ the Bad and the Plaid”‚ by Danielle Dreilinger discusses the benefits and hindrances to requiring students to wear school uniforms. In brief‚ the article‚ talks about how long the schools in her area have been enforcing policies regarding uniforms. Additionally‚ sharing about the expenses uniforms may bring to families‚ and the companies who supply the clothing. Specifically‚ the article gives information on how families can find more affordable alternatives
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Tax Law Assignment According to the Act Gross Income is defined as ‚ in relation to any year or period of assessment‚ means‚ in the case of any person‚ the total amount‚ in cash or otherwise‚ received by or accrued to or in favour of such person during such year or period of assessment from a source within or deemed to be within Namibia‚ excluding receipts or accruals of a capital nature‚ but including‚ without in any way limiting the scope of this definition‚ such amounts (whether of a capital
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Definition of Tax ; The word ‘tax’ has been derived from the French word ‘taxe’ and the Latin word ‘taxare’ which means ‘to charge’. Tax is a contribution exacted by the state. It is a non-penal but compulsory and unrequited transfer of resources from the private to the public sector‚ levied on the basis of predetermined criteria. According to P. E. Taylor‚ “ Taxes are compulsory payment to government without expectation of direct return in benefit to the taxpayer. According to
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Should Students Wear School Uniforms? The public school uniform debate has been an issue for educators‚ parents‚ and students for years now. While school uniforms are typically found in private schools‚ it was in 1987 that the first public uniform policy went into effect. Then in 1994‚ the Long Beach Unified Schools District in California adopted a mandatory uniform policy in some of its schools‚ making it the first urban district to do so. Though public school uniform use is not widespread it is
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their own individual thoughts. I am standing in front of you all today to persuade you that uniforms should not be worn in schools ‚ and that there are many more cons to wearing them then pros. I have done a lot of research on this topic ‚ school uniforms should not be worn because they are expensive ‚ don’t protect you from bullying ‚ and takes away from a person’s individuality. First‚ uniforms should not be worn because they are expensive
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Tax & Taxation The term ’tax’ has been derived from the French word taxe and etymologically‚ the Latin word taxare is related to the term ’tax’‚ which means ’to charge’. Tax is an obligatory payment in the part of the citizen without the expectation of any direct benefit. Taxation is the obligation of non-penal‚ yet compulsory transfer of resources from the private to the public sector levied on a basis of predetermined criteria and without reference to specific benefit received. It is one of the
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An ad valorem tax is a tax based on the value of the incurred‚ like the value added tax‚ sales tax‚ property tax or inheritance tax. The value of the goods‚ services or properties is the basis for the tax collected. Specific tax on the other hand‚ is a tax based on the quantity produced. It is not a function of the value of the product being taxed. Cigarettes are a product being taxed in such category. The use of specific tax could have been a good idea since it is evident that even though
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Sjöstedt Damian Finnegan Academic Writing 3 March 2011 School Uniforms: A Non-Military Proposal for Sweden’s Students The word school uniform has negative connotations for many people. It makes them think of war‚ of soldier‚ of death‚ brainwashed airheads doing exactly the same as everybody else. It makes them think of reformed‚ collectivized groups of people with no personal identity. There are‚ however‚ reasons for the existence of the uniform; one of them being‚ as the name suggests‚ the purpose of
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INCOME TAX NOTES Residential Status and Incidence of Tax According to Section 5 of the Income Tax Act the scope of total Income of an assessee depends on his residential status.On the basis of residential status assessee are classified under the following two categories: 1. Resident 2. Non-resident. As per as resident individuals and Hindu Undivided Families are concerned‚ they can be further divided into two categories: 1. Ordinarily Resident 2. Not ordinarily Resident. Residential
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