TABLE OF CONTENTS SECTION 1…………………………………………………………………………………….3 1.0 Introduction ………………………………………………………………………………...3 1.1 Historical background of 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
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brands at a specific tax rate of 34 taka per 10 sticks (70% of retail price) could lead nearly 7 million current smokers to quit and prevent 7 million youth from initiating smoking‚ preventing 6 million premature deaths and raising additional excise revenues of 15.1 billion taka (US$ 200 million). Further‚ taxing all bidis at a specific tax rate of 4.95 taka per pack (40% of average prices) could lead 3.4 million adult bidi smokers to quit and prevent 3.5 million youth from initiating bidi smoking
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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 car.
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Group Assignment On Computation of Income and Tax Liability of an Individual Subject-ACT 322 Section-2 Prepared For Professor Mahbubur Rahman (MbR) Prepared By Nymul Hasan Taseen (083 414 030) Sharafat Halim (091 0615 030) Abu Syed Arik Kibria (091 0622 030) Abdullah Mohammed Zoboer Abhi (092 0096 030 - From Section 1) Date of Submission – 21st April‚ 2012. Of all the direct taxes‚ Income Tax ranks foremost. By nature and heritage‚ many of us tend to be just “free riders”
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Direct Taxes: A Direct tax is a kind of charge‚ which is imposed directly on the taxpayer and paid directly to the government by the persons (juristic or natural) on whom it is imposed. A direct tax is one that cannot be shifted by the taxpayer to someone else. The some important direct taxes imposed in India are as under: Income Tax: Income Tax Act‚ 1961 imposes tax on the income of the individuals or Hindu undivided families or firms or co-operative societies (other tan companies) and trusts
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is able to tax whatever they want and so discourage the consumption of that which is considered bade or unhealthy. Placing higher taxes on junk food within Caribbean countries will prove beneficial as it would help in reducing the accessibility of junk food to consumers‚ improve the country’s economy and help improve the health status of individuals. Placing higher taxes on junk foods and making healthy food more affordable will aid in reducing the purchase and over consumption of food with little
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The Income Statement This indicates financial performance over a period of time. It is usually done at the end of a financial year (30th June)‚ but an income statement can be made up at other times‚ e.g.‚ if a business wishes to apply for a loan‚ the bank may ask for a more recent income statement. The other names for this kind of statement are Revenue Statement and Profit and Loss Statement. Income Statement for Ima Mess‚ year ended 30.6.12 |
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Q 1. Cigarettes are often cited in economics texts as an example of a particular type of market failure. Identify that market failure‚ and illustrate the failure using an appropriate diagram. Ans. Cigarettes represents a market failure of externatilities. They are sited as negative externality as they affect the wellbeing of the bystander and the person neither pays nor receives any compensation for that negative effect. A smoker enjoys the puff of the smoke and the bystander inhales the fumes
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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. 2. In this Act‚ unless the context otherwise requires‚— 3[(1) "advance tax" means the
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COMPREHENSIVE VOLUME--CHAPTER 7--DEDUCTIONS AND LOSSES: CERTAIN BUSINESS EXPENSES AND LOSSES Student: ___________________________________________________________________________ 1. James is in the business of debt collection. He purchased a $20‚000 account receivable from Green Corporation for $15‚000. During the year‚ James collected $17‚000 in final settlement of the account. James can take a $2‚000 bad debt deduction in the current year. True False 2. If a business debt previously
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