1. This document provides an overview of the Indian direct tax structure for individuals, Hindu Undivided Families, firms, and companies for assessment years 2007-2008 through 2010-2011.
2. It outlines the income tax rates and slabs for different types of entities. For individuals, the basic exemption limit has increased from Rs. 100,000 to Rs. 150,000, and additional exemptions are provided for senior citizens and women.
3. Key deductions available include those for medical insurance, savings, interest on home loans, and carry forward of business losses for specified periods.
4. Tax rates and provisions for capital gains, advance tax payments, and interest charges for non-payment or delayed
This document is a motor vehicle rental tax return form from the Utah State Tax Commission. It provides instructions for taxpayers to report and pay sales tax on short-term vehicle leases and rentals on a quarterly, monthly, or annual basis. The form includes columns to enter location codes, rental amounts, tax rates, calculated tax due, seller discounts for monthly filers, and net tax owed.
This document provides a summary of personal and corporate income tax rules in Canada. It discusses how personal income taxes are calculated based on taxable income and tax brackets. It also outlines some types of income that are not taxed, such as gifts and inheritances. For corporate taxes, it describes taxes paid by corporations and differences between public corporations, private corporations, and Canadian-controlled private corporations. It also briefly discusses provincial/territorial corporate income taxes.
This document provides contact information for Aniruddha Rathi, who can help with generating financial ratios needed for submitting Maharashtra VAT audit reports. It notes that the deadline for submitting audit reports in Form 704 is March 31, 2010 for the audit period ending March 31, 2009. It also states that Rathi can be contacted by email, phone, mail, or SMS with any other tax-related questions.
Mike Weber from PGAV Planners presented on several topics related to TIF planning and closeout. He discussed the differences between property tax and sales tax TIFs, the importance of planning for TIF closeout by developing revenue and obligation projections. He also reviewed the process for distributing any surplus funds at the end of a TIF according to statutory requirements. Key questions around combining property and sales tax TIFs or handling revenue received after TIF termination were also discussed.
Vancouver has a population of around 578,000 and experiences mild winters and warm summers. It has a diverse economy focused on industries like mining, forestry, biotech and film. Vancouver was founded in the late 1800s and will host the 2010 Winter Olympics. Canada levies personal income tax on worldwide income for residents and some foreign-source income. Taxes are paid through deductions, installments, and payments made when filing annual tax returns by April 30. Provincial taxes are also collected using the federal taxable income definition.
This is an invoice from Newark/element14 to Arco Gruo Peru for $159.67. It includes one photosensor for $139.67 with $20 shipping. Payment will be made by Visa credit card. The invoice provides billing and shipping addresses, product details, payment terms, and a contact for any order questions.
We offer a 4 business in 1 investment, to be more specific - ticketing / loading / bills payment / remittance business. If you will do your research, you will find out that it would need a big capital for this type of business and it is impossible to put together. The good news is you will not need millions of pesos to start this business and better yet you can share it with everyone and have bigger potential income and bigger savings. check our websites - http://mygprsexpress.com/
Tele Celular Sul Participações S.A. announced its results for the third quarter of 1999, with operating revenue reaching R$206.3 million, a 30% increase over the previous year. Total subscribers grew 64% to 891,000. EBITDA for the quarter was R$23 million, down from subsidies related to phone sales and incentives for customers switching to digital service. Costs increased due to higher customer acquisition costs, a more conservative doubtful accounts policy, and inventory adjustments for used analog phones.
This document is a motor vehicle rental tax return form from the Utah State Tax Commission. It provides instructions for taxpayers to report and pay sales tax on short-term vehicle leases and rentals on a quarterly, monthly, or annual basis. The form includes columns to enter location codes, rental amounts, tax rates, calculated tax due, seller discounts for monthly filers, and net tax owed.
This document provides a summary of personal and corporate income tax rules in Canada. It discusses how personal income taxes are calculated based on taxable income and tax brackets. It also outlines some types of income that are not taxed, such as gifts and inheritances. For corporate taxes, it describes taxes paid by corporations and differences between public corporations, private corporations, and Canadian-controlled private corporations. It also briefly discusses provincial/territorial corporate income taxes.
This document provides contact information for Aniruddha Rathi, who can help with generating financial ratios needed for submitting Maharashtra VAT audit reports. It notes that the deadline for submitting audit reports in Form 704 is March 31, 2010 for the audit period ending March 31, 2009. It also states that Rathi can be contacted by email, phone, mail, or SMS with any other tax-related questions.
Mike Weber from PGAV Planners presented on several topics related to TIF planning and closeout. He discussed the differences between property tax and sales tax TIFs, the importance of planning for TIF closeout by developing revenue and obligation projections. He also reviewed the process for distributing any surplus funds at the end of a TIF according to statutory requirements. Key questions around combining property and sales tax TIFs or handling revenue received after TIF termination were also discussed.
Vancouver has a population of around 578,000 and experiences mild winters and warm summers. It has a diverse economy focused on industries like mining, forestry, biotech and film. Vancouver was founded in the late 1800s and will host the 2010 Winter Olympics. Canada levies personal income tax on worldwide income for residents and some foreign-source income. Taxes are paid through deductions, installments, and payments made when filing annual tax returns by April 30. Provincial taxes are also collected using the federal taxable income definition.
This is an invoice from Newark/element14 to Arco Gruo Peru for $159.67. It includes one photosensor for $139.67 with $20 shipping. Payment will be made by Visa credit card. The invoice provides billing and shipping addresses, product details, payment terms, and a contact for any order questions.
We offer a 4 business in 1 investment, to be more specific - ticketing / loading / bills payment / remittance business. If you will do your research, you will find out that it would need a big capital for this type of business and it is impossible to put together. The good news is you will not need millions of pesos to start this business and better yet you can share it with everyone and have bigger potential income and bigger savings. check our websites - http://mygprsexpress.com/
Tele Celular Sul Participações S.A. announced its results for the third quarter of 1999, with operating revenue reaching R$206.3 million, a 30% increase over the previous year. Total subscribers grew 64% to 891,000. EBITDA for the quarter was R$23 million, down from subsidies related to phone sales and incentives for customers switching to digital service. Costs increased due to higher customer acquisition costs, a more conservative doubtful accounts policy, and inventory adjustments for used analog phones.
This document provides a summary of key concepts in Indian income tax law. It defines terms like previous year, assessment year, assessee and the different heads of income. It discusses exemptions for items like leave encashment, gratuity and compensation received under voluntary retirement schemes. It also covers deductions available for house rent allowance and taxable allowances and perquisites for employees. It outlines income tax slabs and rates for individual taxpayers below 65 years of age, resident women and senior citizens.
This document provides instructions for using an income tax calculator to estimate income taxes for salaried individuals in India. It explains how to enter personal and financial details like salary, deductions, exemptions, and investments to calculate the approximate tax owed. The calculator is updated periodically, and users are advised to check for the latest version to ensure accurate tax estimates. Contact information is provided for users to request updates, resolve issues, or unsubscribe from receiving future versions.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive function. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms for those who already suffer from conditions like anxiety and depression.
The document is a collection of photos related to gold mining, production, and uses around the world. It shows informal gold miners clashing with police in Peru, polluted water flowing from an abandoned mine in Romania, villagers panning for gold in Indonesia, mechanics working at a gold mine in Nevada, artisanal miners working in Congo, people panning for gold in New Hampshire, a worker repairing a pump at a Peruvian gold mine, gold being poured and processed in Canada, Bulgaria, and other locations, gold jewelry and coins, gold being used decoratively and ceremonially in various cultures, and an Olympic athlete biting his gold medal.
Anheuser-Busch is the largest brewing company in the United States, headquartered in St. Louis, Missouri. It traces its roots to 1852 and has grown significantly over the decades to become a leading producer of beers such as Budweiser, Michelob, and Busch. The company focuses heavily on environmental sustainability through recycling, reducing water and energy usage, and supporting conservation efforts.
This short document discusses a music piece called "Time to said goodbye" performed by Sarah Brightman and Andrea Bocelli. It mentions the piece is from Switzerland and lists the performers. It concludes with "THE END".
The document discusses the results of a study on the effects of a new drug on memory and cognitive function in older adults. The double-blind study involved 100 participants aged 65-80 and found that those given the drug performed significantly better on memory and problem-solving tests than the placebo group after 6 months. The drug was found to be safe and well-tolerated with no serious side effects reported.
Anheuser-Busch is a leading American brewer founded in 1852 and renamed in 1879. It holds 47.6% of the US beer market and produces over 200 beer brands globally. Some of its most popular brands include Budweiser, Bud Light, Michelob Ultra, Corona, and Stella Artois. Anheuser-Busch focuses on responsible drinking initiatives and reducing its environmental impact through increased recycling and alternative energy use. It employs over 150,000 people worldwide and continues to see sales growth in both domestic and international markets.
The document promotes the website www.funnybytes.net, which provides humorous content such as funny pictures, videos, jokes, and downloads. Visitors to the site can find entertainment through shared humor and creative articles. The website aims to be a source for the best and most fun digital content.
Walt Disney had a difficult childhood growing up in Minnesota and had to work from a young age, leaving little time for childhood. He moved to Los Angeles with just a few dollars and started drawing and animating. He created Mickey Mouse in 1928 which became a huge success with the advent of talking films. Disney further developed his strategy of synergistic cross-promotion across various media. The 1950 opening of Disneyland was hugely profitable and proved critics wrong. Walt Disney died of lung cancer in 1962 while overseeing construction of Disney World.
Walt Disney was born in 1901 in Chicago and moved to Kansas City as a child where he began working as a paperboy. He preferred drawing cartoons even while in school. In 1922, Disney founded his own animation company called Laugh-O-Gram Films and began producing short films based on fairy tales. In 1927, Disney created the successful Oswald the Lucky Rabbit cartoon series. Disney later founded Walt Disney Productions and created many famous animated films such as Snow White, Cinderella, and Pinocchio. He also opened Disneyland in 1955 but did not live to see the opening of Walt Disney World, as he died of lung cancer in 1966.
Walter Elias Disney was an American business magnate, animator, cartoonist, producer, director, screenwriter, and entrepreneur. He founded Walt Disney Studios and created many famous cartoon characters such as Mickey Mouse. Some of Disney's most commercially successful early films included Snow White and the Seven Dwarfs, Cinderella, and Peter Pan. He opened Disneyland in 1955, which was immensely popular. Disney had both positive effects on children by promoting values like equality, bravery, and happy endings, but also some negative effects through racial stereotypes and unrealistic body standards.
The document lists key details about the first successful summits of several of the world's tallest mountains, including:
- Mt. Everest, at 8,850m, was first summited on May 29, 1953 by Tenzing Norgay of Nepal and Edmund Hillary of New Zealand.
- K2, the second tallest mountain at 8,611m, was first climbed by A. Compagnoni and L. Lacedelli of Italy.
- The first successful summit of Kangchenjunga at 8,586m was achieved by a British team led by G. Band and J. Brown on May 18, 1956.
This document lists important dates for the births and deaths of famous historical figures including Albert Einstein, Abraham Lincoln, Bill Gates, Thomas Edison, Mahatma Gandhi, Henry Ford, Mother Teresa, Nelson Mandela, and Walt Disney. It provides each person's full name and dates they were born and/or died to concisely document key facts about their lives.
Walt Disney was born in 1901 in Chicago and grew up in Missouri. He had an early interest in art and pursued cartooning. After serving in World War I, he started his career in commercial art and founded Laugh-O-Gram Studios, which failed. With $40, he moved to Hollywood and found success with animated shorts. He later created feature films like Snow White and founded Disneyland, growing his company into an entertainment giant that continues today under CEO Robert Iger.
The document summarizes a 2005 trek to Mount Everest Base Camp. It began with a 10 hour bus ride from Kathmandu to Jiri, Nepal with 10 people in a Toyota van. From there they trekked over 135 miles in 18 days, climbing over 40,200 feet and descending 33,900 feet, reaching an elevation high of 18,600 feet. The trek provided experiences of appreciation, humility and a reinforcement of priorities for the trekkers.
This document does not contain any meaningful information to summarize. It consists of a single word "Sea" repeated multiple times with no other context. A proper summary cannot be generated from this document.
Ob i - foundations of group behavior-workteams-organizational stressShivkumar Menon
Organizational Behavior I as part of the XLRI VIL Syllabus
The areas captured are relevant in today's context at the workplace. The concepts and applications delve on people, organization, structure and how behavior of employees and leaders in organizations bring efficiency and effectivity.
1) This document is a Form 16 issued by HCL Technologies Ltd to Satwinder Singh, detailing salary and tax deductions for the fiscal year 2009-2010.
2) It shows a gross salary of Rs. 3,99,026, deductions of Rs. 88,048 under Section 80C, and taxable income of Rs. 2,35,970.
3) A total of Rs. 8,855 in tax was deducted from Satwinder's salary and deposited with the government. No tax is payable or refundable.
The document is a bank statement summarizing deposits and transfers into a savings account from February 7th to 26th. There were numerous cash deposits and electronic transfers totaling over 1,755 Brazilian reals. The deposits and transfers were made on various dates throughout the period. The ending balance on the 26th was 1,755.81 Brazilian reals.
This document provides a summary of key concepts in Indian income tax law. It defines terms like previous year, assessment year, assessee and the different heads of income. It discusses exemptions for items like leave encashment, gratuity and compensation received under voluntary retirement schemes. It also covers deductions available for house rent allowance and taxable allowances and perquisites for employees. It outlines income tax slabs and rates for individual taxpayers below 65 years of age, resident women and senior citizens.
This document provides instructions for using an income tax calculator to estimate income taxes for salaried individuals in India. It explains how to enter personal and financial details like salary, deductions, exemptions, and investments to calculate the approximate tax owed. The calculator is updated periodically, and users are advised to check for the latest version to ensure accurate tax estimates. Contact information is provided for users to request updates, resolve issues, or unsubscribe from receiving future versions.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive function. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms for those who already suffer from conditions like anxiety and depression.
The document is a collection of photos related to gold mining, production, and uses around the world. It shows informal gold miners clashing with police in Peru, polluted water flowing from an abandoned mine in Romania, villagers panning for gold in Indonesia, mechanics working at a gold mine in Nevada, artisanal miners working in Congo, people panning for gold in New Hampshire, a worker repairing a pump at a Peruvian gold mine, gold being poured and processed in Canada, Bulgaria, and other locations, gold jewelry and coins, gold being used decoratively and ceremonially in various cultures, and an Olympic athlete biting his gold medal.
Anheuser-Busch is the largest brewing company in the United States, headquartered in St. Louis, Missouri. It traces its roots to 1852 and has grown significantly over the decades to become a leading producer of beers such as Budweiser, Michelob, and Busch. The company focuses heavily on environmental sustainability through recycling, reducing water and energy usage, and supporting conservation efforts.
This short document discusses a music piece called "Time to said goodbye" performed by Sarah Brightman and Andrea Bocelli. It mentions the piece is from Switzerland and lists the performers. It concludes with "THE END".
The document discusses the results of a study on the effects of a new drug on memory and cognitive function in older adults. The double-blind study involved 100 participants aged 65-80 and found that those given the drug performed significantly better on memory and problem-solving tests than the placebo group after 6 months. The drug was found to be safe and well-tolerated with no serious side effects reported.
Anheuser-Busch is a leading American brewer founded in 1852 and renamed in 1879. It holds 47.6% of the US beer market and produces over 200 beer brands globally. Some of its most popular brands include Budweiser, Bud Light, Michelob Ultra, Corona, and Stella Artois. Anheuser-Busch focuses on responsible drinking initiatives and reducing its environmental impact through increased recycling and alternative energy use. It employs over 150,000 people worldwide and continues to see sales growth in both domestic and international markets.
The document promotes the website www.funnybytes.net, which provides humorous content such as funny pictures, videos, jokes, and downloads. Visitors to the site can find entertainment through shared humor and creative articles. The website aims to be a source for the best and most fun digital content.
Walt Disney had a difficult childhood growing up in Minnesota and had to work from a young age, leaving little time for childhood. He moved to Los Angeles with just a few dollars and started drawing and animating. He created Mickey Mouse in 1928 which became a huge success with the advent of talking films. Disney further developed his strategy of synergistic cross-promotion across various media. The 1950 opening of Disneyland was hugely profitable and proved critics wrong. Walt Disney died of lung cancer in 1962 while overseeing construction of Disney World.
Walt Disney was born in 1901 in Chicago and moved to Kansas City as a child where he began working as a paperboy. He preferred drawing cartoons even while in school. In 1922, Disney founded his own animation company called Laugh-O-Gram Films and began producing short films based on fairy tales. In 1927, Disney created the successful Oswald the Lucky Rabbit cartoon series. Disney later founded Walt Disney Productions and created many famous animated films such as Snow White, Cinderella, and Pinocchio. He also opened Disneyland in 1955 but did not live to see the opening of Walt Disney World, as he died of lung cancer in 1966.
Walter Elias Disney was an American business magnate, animator, cartoonist, producer, director, screenwriter, and entrepreneur. He founded Walt Disney Studios and created many famous cartoon characters such as Mickey Mouse. Some of Disney's most commercially successful early films included Snow White and the Seven Dwarfs, Cinderella, and Peter Pan. He opened Disneyland in 1955, which was immensely popular. Disney had both positive effects on children by promoting values like equality, bravery, and happy endings, but also some negative effects through racial stereotypes and unrealistic body standards.
The document lists key details about the first successful summits of several of the world's tallest mountains, including:
- Mt. Everest, at 8,850m, was first summited on May 29, 1953 by Tenzing Norgay of Nepal and Edmund Hillary of New Zealand.
- K2, the second tallest mountain at 8,611m, was first climbed by A. Compagnoni and L. Lacedelli of Italy.
- The first successful summit of Kangchenjunga at 8,586m was achieved by a British team led by G. Band and J. Brown on May 18, 1956.
This document lists important dates for the births and deaths of famous historical figures including Albert Einstein, Abraham Lincoln, Bill Gates, Thomas Edison, Mahatma Gandhi, Henry Ford, Mother Teresa, Nelson Mandela, and Walt Disney. It provides each person's full name and dates they were born and/or died to concisely document key facts about their lives.
Walt Disney was born in 1901 in Chicago and grew up in Missouri. He had an early interest in art and pursued cartooning. After serving in World War I, he started his career in commercial art and founded Laugh-O-Gram Studios, which failed. With $40, he moved to Hollywood and found success with animated shorts. He later created feature films like Snow White and founded Disneyland, growing his company into an entertainment giant that continues today under CEO Robert Iger.
The document summarizes a 2005 trek to Mount Everest Base Camp. It began with a 10 hour bus ride from Kathmandu to Jiri, Nepal with 10 people in a Toyota van. From there they trekked over 135 miles in 18 days, climbing over 40,200 feet and descending 33,900 feet, reaching an elevation high of 18,600 feet. The trek provided experiences of appreciation, humility and a reinforcement of priorities for the trekkers.
This document does not contain any meaningful information to summarize. It consists of a single word "Sea" repeated multiple times with no other context. A proper summary cannot be generated from this document.
Ob i - foundations of group behavior-workteams-organizational stressShivkumar Menon
Organizational Behavior I as part of the XLRI VIL Syllabus
The areas captured are relevant in today's context at the workplace. The concepts and applications delve on people, organization, structure and how behavior of employees and leaders in organizations bring efficiency and effectivity.
1) This document is a Form 16 issued by HCL Technologies Ltd to Satwinder Singh, detailing salary and tax deductions for the fiscal year 2009-2010.
2) It shows a gross salary of Rs. 3,99,026, deductions of Rs. 88,048 under Section 80C, and taxable income of Rs. 2,35,970.
3) A total of Rs. 8,855 in tax was deducted from Satwinder's salary and deposited with the government. No tax is payable or refundable.
The document is a bank statement summarizing deposits and transfers into a savings account from February 7th to 26th. There were numerous cash deposits and electronic transfers totaling over 1,755 Brazilian reals. The deposits and transfers were made on various dates throughout the period. The ending balance on the 26th was 1,755.81 Brazilian reals.
This document contains statistics on the northern and central New Jersey commercial real estate market. It shows direct rental rates and overall vacancy rates from 2011 to 2015, with rates generally decreasing. New leasing activity is shown to be increasing each quarter from 2011 to 2015. Significant fourth quarter 2015 lease transactions are listed, including tenants and square footage. Major available buildings for lease are also listed.
This document provides an overview of the New Jersey industrial real estate market in 2015. It includes charts and tables showing trends in demand, inventory, vacancy rates, rental rates, absorption, and leasing activity. Significant leases signed in Q4 2015 include the Turnpike Authority leasing 205,000 square feet in Woodbridge and Lowenstein Sandler LLP leasing 170,047 square feet in Roseland. The largest available buildings are a 970,000 square foot building in Mount Olive and a 471,813 square foot building in Upper Saddle River.
This document summarizes TDS rates and highlights for the fiscal year 2010-11 (assessment year 2011-12) in India. Key points include:
- TDS rates applicable to individuals, HUFs, BOIs, AOPs and other entities for interest, winnings, rent, professional fees, etc.
- Nil TDS for transporters who provide their PAN number.
- 20% TDS for those who do not provide their PAN number.
- Computerization of TDS return processing to allow for corrections of errors and incorrect claims.
This document provides an overview of the Goods and Services Tax (GST) implemented in India. It discusses key aspects of GST including:
- GST unifies multiple indirect taxes into a single tax applied to the manufacture and sale of goods and the provision of services.
- It consists of three types of taxes - Central GST, State GST, and Integrated GST for inter-state transactions.
- GST subsumes many central and state taxes such as excise duty, VAT, service tax, etc.
- Under GST, taxes will be levied at both the central and state level for intra-state transactions, while inter-state transactions will be taxed under
This document is a Form 16 issued by an employer in India to an employee named Dipak Khatavkar for the assessment year 2013-2014. It summarizes the taxes deducted from the employee's salary of Rs. 360,000 over four quarters totaling Rs. 4,120. It also provides details of other income and deductions to calculate the total taxable income of Rs. 240,000 and a tax payable of Rs. 4,120.
The document discusses various aspects of tax planning in India including:
- Tax slabs and rates for different types of taxpayers.
- Common tax deductions available under Sections 80C, 80D, 80E, and 80CCC of the Income Tax Act up to a total limit of Rs. 1 lakh.
- Tax treatment of various financial instruments like insurance, PPF, ELSS, housing loans, etc.
- Examples are provided to illustrate how tax liability can be reduced through proper tax planning and use of deductions.
The document summarizes key aspects of minimum corporate income tax (MCIT), improperly accumulated earnings tax (IAET), and general information tax (GIT) in the Philippines. It explains that MCIT is 2% of gross income imposed on domestic corporations starting in their 4th tax year of operations if their taxable income is zero or negative, or if MCIT is greater than normal income tax. Any excess MCIT paid can be credited against normal income tax over the next 3 years. It provides examples of journal entries recording MCIT payments and credits over multiple years for a sample corporation.
This document discusses income tax in India. It defines income tax as a direct tax levied on the incomes of individuals, Hindu Undivided Families (HUFs), unregistered firms, and other associations of people. It was passed as an act in 1961 and came into effect in 1962. The document then provides the income tax slab rates for the 2013-2014 assessment year, including different rates for individuals of different ages and genders. It also defines various income tax related terms and provides an example computation of total income and tax liability for an individual named M. Niranjan for the 2013-2014 assessment year.
The document discusses key amendments made by the Finance Bill 2018 under the Income Tax Act.
It discusses changes to income tax rates for individuals, companies, and other assessees for FY 2018-19 compared to FY 2017-18. Notable changes include reduced tax rates for certain domestic companies and increased dividend distribution tax rate for deemed dividends.
It also summarizes some other amendments, including applying dividend distribution tax to deemed dividends under section 2(22)(e), plugging a loophole related to reduction of capital post amalgamation, and a new 100% tax deduction for income of farm producer companies. Key economic trends like exports, imports, trade deficit, gold and forex reserves are also
The document is the balance sheet and income statement for Elite S.A. de C.V. for the years ending December 31, 2020 and 2019. It shows that total assets increased 51.48% from 2019 to 2020 due to rises in current assets like cash, accounts receivable, and inventory. Net income remained the same at $69,000 from 2019 to 2020 despite a 0.69% increase in net sales. Financial ratios show liquidity declined while profitability margins were relatively stable.
This document summarizes the income tax statement for Parijat Bhaumik for the 2012-13 financial year. It details his total income of Rs. 250,457 which includes basic pay, dearness allowance, bonus, and other income sources. It lists deductions of Rs. 14,560 under Section 80C. After deductions, his net taxable income was Rs. 235,750 and total income tax payable was Rs. 3,575.
This document contains suggested solutions to questions on the Public Accountants Examination Council of Malawi 2012 Taxation paper.
It provides detailed explanations and calculations for questions related to principles of taxation, capital allowances, withholding tax, income tax computations, provisional tax, foreign exchange gains/losses, and fringe benefits tax.
Worked examples are given for topics like determining taxable income, calculating penalties for underpayment of taxes, and fringe benefits provided to employees. The document demonstrates how to apply tax laws and principles to practical scenarios.
This document provides an overview of HSBC for Michael Geoghegan, the Group Chief Executive Officer, at a Merrill Lynch conference in London in October 2006. It discusses HSBC's record of growth, performance highlights from the first half of 2006, the strength and geographic diversity of its operating franchises, its focus on continued growth, and some of the opportunities and challenges it faces. The presentation aims to demonstrate why HSBC is well positioned for sustained growth and why investors should continue investing in HSBC rather than just good regional players.
The document contains sample accounting questions related to topics like fund flow statement, cash flow statement, working capital analysis, and capital budgeting techniques like payback period and post-payback period analysis. Specifically, it provides 7 questions with numerical details requiring the preparation of schedules, statements and evaluation of projects using mentioned techniques.
- The document provides statistics and trends related to India's GDP, tax revenue, and tax rates from 1949-2013. It analyzes how tax policies and rates have changed over time.
- Key trends include a steady increase in the net tax-GDP ratio from 1949-1971, followed by higher peaks and valleys. Tax rates for personal income and corporate taxes generally declined post-1991 reforms as the system was simplified and broadened.
- Indirect tax rates varied widely until reforms in the 1990s consolidated rates and reduced complexity in the system. Overall, tax revenue has grown but still lags targets as a percentage of GDP.
This document provides an overview of the Goods and Services Tax (GST) that is proposed to be implemented in India. It discusses the present indirect tax structure in India and how it will be replaced by GST. The key benefits of GST for taxpayers and the exchequer are highlighted. Challenges of implementing GST based on lessons from the present system are outlined. Important milestones in the implementation of GST in India are also summarized.
The Limited Liability Partnership Act of 2008 established LLPs in India and outlines their key features, including being a separate legal entity, partners having limited liability, requirements for at least two partners and designated partners, governance of mutual partner rights and obligations, financial reporting, and provisions for conversion, investigation, winding up and application of company law as needed.
The document defines various accounting and finance terms. Some key terms defined include:
- Packing credit is a loan or advance provided by a bank to an exporter to finance goods prior to shipment based on a letter of credit or export order.
- A packing list/slip is a statement of container contents so the quantity of merchandise can be counted upon opening.
- Paid-in capital is capital received from investors for stock, not including capital from earnings or donations.
- Partnership is an unincorporated business with more than one owner, different from a sole proprietorship which can only have one owner.
The document defines various accounting acronyms and terms. Some key ones are: AAA - American Accounting Association, ABA - Accredited Business Accountant or Accredited Business Advisor, a national credential alternative to the CPA for small businesses. Accrual basis accounting records revenue when earned and expenses when incurred, regardless of when cash is received or paid. Activity based costing assigns overhead costs to products based on activities and cost drivers.
This document lists keyboard shortcuts for Microsoft Word. It is organized by function keys, control keys, alt keys, and control+shift keys. The shortcuts cover a range of formatting and document navigation functions like copying text, changing fonts, inserting fields, checking spelling, and printing documents.
This document provides a summary of function keys and their associated actions in Microsoft Excel.
F1 displays help or the Office assistant. F2-F12 perform various actions like editing cells, calculating worksheets, formatting data, inserting sheets and charts, saving files and more. Keyboard shortcuts allow selecting cells, copying/pasting data, entering formulas, and navigating/editing spreadsheets. Special keys like END, SCROLL LOCK, and arrow keys help select ranges and scroll the view.
The document provides an overview of the key components and features of Microsoft Access, including the ribbon, navigation pane, tabbed document viewing, customizable access options, database objects like tables, queries, forms and reports, and how to work with data in Access like adding records, filtering, sorting and querying. It also discusses setting up relationships between tables and customizing Access.
Working capital management refers to managing current assets and current liabilities to ensure liquidity and profitability. It aims to balance current assets with current liabilities and optimize investments in current assets. Key aspects of working capital management include inventory management, cash management, and receivables management. Tools used include determining inventory levels, cash planning and forecasting, accounts receivable policies, and aging schedules. The goal is to efficiently manage current assets and meet obligations while maximizing return.
Self-development involves assessing one's skills and interests, maintaining a learning log to analyze work experiences, and creating a personal development plan with goals. It is important for remaining competitive in the workplace and determining one's career direction. Effective methods include finding a mentor, joining professional organizations, and keeping up with one's field through reading.
Section 44 D allows foreign companies to deduct taxes on income received through royalties and technical service fees from transfers outside of India if the agreement was made before April 1, 1976 and was approved by the Central Government. The deduction amount is either the actual expenses incurred or 20% of the gross royalty amount, whichever is less, reduced by any lump sum consideration received for the transfer.
Section 44 BBA provides a 5% deduction for income received by non-resident airlines from carriage of passengers, livestock, mail or goods originating from or traveling to India. To qualify, the non-resident must be engaged in the business of operating aircraft. However, rental income received under a wet leasing agreement with an Indian airline like Air India is exempt from tax under this section.
Section 80-I provides tax deductions for profits and gains derived from certain industrial undertakings, ships, hotels, and businesses of repairs to ocean-going vessels. A 20% deduction is allowed for eligible assessees, and 25% for eligible company assessees. Eligible industrial undertakings must meet conditions like not being a reconstruction of an existing business and employing a minimum number of workers. Eligible ships must be owned and used by an Indian company. Eligible hotels must be approved by the government and have a minimum paid-up capital. Eligible repair businesses must also meet conditions and be approved. Deductions can be claimed for a specified number of years depending on the type of business.
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1. CA. Sanjay K Agarwal FCA, FCS, CPA (USA)
DIRECT TAX READY REFERENCE
83/85, N.S.Road, Suite:417, Kolkata - 700 001 (COVERING BUDGET 2009-2010)
Ph: 22431088, 22310071, 3291 3756, 9331023275 Email: sanju2k@vsnl.com
A TAX STRUCTURE - INCOME 2007-08 2008-09 2009-10 2010-11 ADVANCE IT : (if liability = or > 10000)
1 IND/HUF/AOP/BOI-Basic Exemption ---> 100000## 110000## 150000## 150000## Due Date Company Other than co
From 100000 upto 110000 10+0.2%* Nil Nil Nil By 15th june upto 15% -
Next 40000 upto 150000 10+0.2%* 10+0.3%* Nil Nil By 15th Sep upto 45% upto 30
Next 10000 upto 160000 20+0.4%* 20+0.6%* 10+0.3% Nil By 15th Dec upto 75% upto 60
Next 90000 upto 250000 20+0.4%* 20+0.6%* 10+0.3% 10+0.3% By 15th March 100% 100%
Next 50000 upto 300000 30+0.6%** 30+0.9%** 10+0.3% 10+0.3% COST INFLATION INDEX :
Next 250000 upto 500000 30+0.6%** 30+0.9%** 20+0.6% 20+0.6% 1981-82 100 1995-96
Rest - - 30+0.6%** 30+0.9%** 30+0.9%** 30+0.9% 1982-83 109 1996-97
## Basic Exemption: Resident Woman below 65 yrs 135000 145000 180000 190000 1983-84 116 1997-98
Senior Citizen, 65 yrs or above 185000 195000 225000 240000 1984-85 125 1998-99
** Surcharge of 10% if net income exceeds Rs 10 Lac (AY 06-07 to 09-10) before EC/SHEC included above 1985-86 133 1999-00
2 REGD.FIRM 30+3.66% 30+0.9%# 30+0.9%# 30+0.9% 1986-87 140 2000-01
3 DOMESTIC COMPANY REGULAR TAX 30+3.66% 30+0.9%# 30+0.9%# 30+0.9%# 1987-88 150 2001-02
MAT (Section 115JB) 10+1.22% 10+0.3%# 10+0.3%# 15+0.45%# 1988-89 161 2002-03
C/F of MAT Credit 10 years 10 years 10 years 10 years 1989-90 172 2003-04
#if net income exceeds Rs 1.0 Crore: 1) Surcharge of 10% before EC(2%)+SHEC(1%) included above 2) Marginal relief of tax exceeding income 1990-91 182 2004-05
4 TAX ON LONG TERM CAPITALGAIN (with indexation benefit) # Plus S/C as applicable 1991-92 199 2005-06
IND/HUF/AOP/BOI 20+SC+EC% 20+SC+Cess% 20+SC+Cess% 20+Cess% 1992-93 223 2006-07
DOMESTIC CO./FIRM 22.44% 20+0.6%# 20+0.6%# 20+0.6%# 1993-94 244 2007-08
Notes: 1) Tax on LTCG can be taken as 10%+SC+Cess in case of transfer of listed shares/securities/units without indexation benefit 1994-95 259 2008-09
2) Income from LTCG is exempt in case of transfer of equity shares/units of equity oriented fund which are liable to STT IMPORTANT PROVISIONS:
5 TAX ON S T CAPITAL GAIN (ON TRANSFER OF SECURITIES-SEC 111A) 10+SC+EC% 10+SC+EC% 15+0.45%# 15+0.45%# a) Transfer of a property to non-relative
without consideration or less than stamp du
#if net income exceeds Rs 1.0 Crore: 1) Surcharge of 10% before EC(2%)+SHEC(1%) included above 2) Marginal relief of tax exceeding income
(immovable) or less than FMV (mov
B DEDUCTIONS & REBATES chargeable to tax in the hands of transfer
a General Deduction 80C/80CCC/80CCD 100000 100000 100000 100000 56(2)(vii) wef 01.10.2009 [maximum relief Rs
b Mediclaim 80D 10000 15000 15000* 15000*
(otherwise than cash)
for Sr. Citizen Rs.15,000/- wef AY 2000-01 & Rs. 20,000 wef AY 2008-09 b) Remuneration to partners 40(b)- Fin Yr 20
*Additional Deduction for Mediclaim of Parents Rs 15,000 (Rs 20,000 in respect of Sr. Citizen) Book Profit Allowab
c Standard Deduction 24(a) 30% 30% 30% 30% 30% 30% <0 Rs 1500
(in case of rented House Property) < or = Rs 300000 higher of 1500
d Int on borrowed capital 24(b) 150000* 150000* 150000* 150000* on Balance 60%
(in case of self occupied House Property) c) Certain eligible assessee not required to
book of accounts, not required to pay advan
*30000 Generally (higher deductions are allowable only where the capital is borrowed after 01.04.99 and property is there turnover/gross receipts does not excee
acquired/constructed within 3yrs from the end of FY in which capital was borrowed.) Lac and they show income @8% (wef:
C CARRY FORWARD & SET-OFF OF LOSSES: Set-off Carry Forward & Set-off 2010-11)
* except Salaries Same Head another head C/F Years agst whom d) AO can include any other issue [not men
148(2)] during assessment u/sec 147
1. Salaries Yes Yes No NA NA
2. House Property Yes Yes Yes 8 years same head INTEREST ON INCOME TAX:
3. Speculation Business / Specified Bus. 35AD No No Yes 4 years same item 1.Filing of return after due Int @ 1% pm or
mth from the en
Ubabs. Depreciation / Cap Exp on SR/FP Yes Yes Yes No limit any income date u/sec 234A Date for filing of re
Non-speculative Business or Profession Yes Yes* Yes 8 years same head 2.Defaults in pymt of Int @ 1% pm or
mth from the 1st d
4. Long Term Capital Gains No No Yes 8 years same item Advance Tax u/s 234B of the AY
Short Term Capital Gains Yes No Yes 8 years same head 3.Deferment in pymt of Int @ 1% pm or
mth on the defic
5. Owning / Maintaining race horses No No Yes 4 years same item Advance Tax u/s 234C applicable
Lotteries / Crossword Puzzles etc. No No No NA NA 4.Interest for late pymt of Int @ 1% pm or
mth from the end
Income from Other Sources (except if exempt) Yes Yes No NA NA demand u/s 156 of Demand Notice
D WEALTH TAX [IND / HUF / CO] Exemption Tax GIFT TAX Exemption Tax 4.Failure to deduct and pay Int @ 1% pm or p
from the date on
wef FY 1995-96 15 lac 1% FY 1995-96 to 1998-99 30000 30% TDS u/s 201(1A) was deductible
wef FY 2009-10 30 lac 1% (Abolished from 01/10/98) Some Tax Saving cum Investment Scheme
GIFT(wef Gift received by an Ind. or HUF (and in kind wef 01.10.2009) without consideration 6 year NSC 8% Investment an
VIII issue compounded interest qualify
01.04.06) from a non-relative above Rs 50,000 in a FY is entirely taxable as Income half yearly deduction u/sec
E Interest NSC (on every Rs 1000) 1st year 2nd Year 3rd Year 4th Year 5th Year 6th Year
31.03.1989-31.12.1998 124.0 139.0 156.0 175.0 197.0 224.0 15 yr Public compound Inv qualify for ta
Provident Fund int 8% per yr deduction u/sec
01.01.1999-14.01.2000 118.3 132.3 148.0 165.4 185.1 206.9 exempt u/sec 1
15.01.2000-28.02.2001 113.0 125.8 140.0 155.8 173.5 193.1
01.03.2001-28.02.2002 97.2 106.7 117.1 128.5 141.0 154.7 Life Insurance rate of bonus Bonus is total
Premium keeps on Inv qualify
01.03.2002-28.02.2003 92.0 100.5 109.7 119.8 130.9 142.9 fluctuating deduction u/sec
01.03.2003 and after 81.6 88.3 95.5 103.3 111.7 120.8
Note: I)The above chart does not cover the provisions related to Non-resident assessee and Foreign Company ii) reference to year wherever appear
Important Links: Income Tax Site: http://www.incometaxindia.gov.in For Income Tax e-Return Filing: http://incometax-indiaefiling.gov.in For PA
2. For PRIVATE CIRCULATION ONLY
Return Due Date u/s 139(1) DEPRECIATION AY 06-07
Other than company From Asst year 2008-09 Due Date upto 05-06 onwards
- 1. Non-corporate assessee Sept 30 of PLANT & MACHINERY 25% 15%
or a working partner of a firm the asst year
upto 30% (where books are reqd to be FURNITURE & FIXTURE 15% 10%
upto 60% audited) & Corporate COMPUTERS 60% 60%
100% Assessee BUILDINGS
Non RESIDENTIAL 10% 10%
281 2. Any other assessee July 31 RESIDENTIAL 5% 5%
305 3. Return of Loss-139(3) within due Purely Temp Erections100% 100%
331 date 15%
CAR & VEHICLES 20%
351 4. belated return-139(4) 1yr from the CAR OR VEHICLES USED
end of asst yr ON HIRE 40%
389 30%
406 Note: Filing of Return by Corporate Ass- Only 50% Depre. will be allowed if assets
essee / Firm is compulsory acquired / used for < 180days
426
447 Tax Deducted at Source: 1)Deposit of TDS to Govt a/c to be made within 7 days from
463 the end of the month in which provision for TDS is made and within 2mths(7days for
480 salary) if provision for TDS is made at the end of financial year.
497 2) Filing of return in computer media mandatory for Company, Govt deductor,
519 those who r covered u/s 44AB, assessee with no. of deductors>50 (qtrly);
551 3) Returns to be filed quarterly in F/24Q (Salary) or F/26Q (others) within 15 days
582 from the end of quarter (76 days in case of last quarter);
4) TDS certificate to be made in Form 16/12BA for Salary, F/16A for others;
sfer of a property to non-relative Ind/HUF 5) For lower deduction the recipient may apply to AO in F/13 or a declaration may
consideration or less than stamp duty value
able) or less than FMV (movable) is be made in form 15G/15H (for Int./Div./NSS only), 15I (for transport contractor);
ble to tax in the hands of transferee u/sec 6) PAN data of deductees should be minimum 95% for 24Q & 85% for 26Q.
) wef 01.10.2009 [maximum relief Rs 50,000] TDS Liability(wef 01.10.09) Rate TDS Liability(wef 01.10.09) Rate
Interest > 5000 pa [Rs 10000 10.00% *Contractor / Ind/HUF---> 1.00%
in case of pymt of banks/PO] Subcontractor>
uneration to partners 40(b)- Fin Yr 2009-10: 20000 (single) Others ----> 2.00%
- Sec 194A
Allowability or 50000 pa Sec 194C
---
Rs 150000 Commission or Brokerage 10.00% *[transport Operator - Nil if PAN furnished]
higher of 150000 or 90% >2500 pa -Sec 194H Rent - Plant & Machinery 2.00%
>1,20,000 pa - 194-I
60% Fees for Prof or Technical 10.00%
Services > 20000pa - Sec 194J
in eligible assessee not required to maintain Rent - Land / Building / 10.00%
accounts, not required to pay advance tax, if Furniture / Fittings >1,20,000 pa
Dividend u/s 2(22)(e) > 2500 10.00% - 194-I
rnover/gross receipts does not exceed Rs 40 pa - Sec 194
d they show income @8% (wef: Fin Year Compensation on acquisition of 10.00%
) certain immovable
winning from lottery / horse 30.00% properties-194LA
an include any other issue [not mentioned in race etc - 194B/BB Insurance Commission - 194D 10.00%
during assessment u/sec 147
Note:w.e.f. 01.04.2010 furnishing of PAN to deductor, in 15G/H/I and to AO for lower
dedn. is mandatory - noever TDS will be higher of 20% or prescribed or in force
Int @ 1% pm or part of the Important Prescribed Forms under Income Tax Rules 1962
mth from the end of Due
Date for filing of return Return of Income & FBT Form No. Return of Income Form No.
Int @ 1% pm or part of the
1. corporate assessee ITR-6 1. Individual with Salary & Int ITR-1
mth from the 1st day of April
of the AY 2. Firms, AOPs and BOIs ITR-5 2. Ind/HUF without Busi/Prof ITR-2
Int @ 1% pm or part of the 3. Person reqd. to furnish return ITR-7 3. Ind/HUF being partners in ITR-3
mth on the deficit amt as u/s 139(4A) / (4B) / (4C) / (4D) firm (without prop.Busi/Prof)
applicable
Int @ 1% pm or part of the 4.Return for Fringe Benefits ITR-8 4. Ind/HUFwith prop.Busi/Prof ITR-4
mth from the end of 30 days
of Demand Notice 5.Manual Form for no DS ITR-V Appeal
Int @ 1% pm or part of mth Other Forms 1. To CIT(Appeals)-2copies 35
from the date on which tax
was deductible 1. PAN Application 49A 2. To ITAT - 3copies 36
ax Saving cum Investment Schemes: 2. TAN Application 49B 3. Memorandum of cross 36A
Investment and accrued 3. Wealth Tax Return Form BA objection to ITAT-3 copies
interest qualify for tax 10DB/10DC 4. To ITAT-to refer to High
4. STT pymt evidence 37
deduction u/sec 80C Court any question of law
5. Annual Tax Statement 26AS 3 copies
Inv qualify for tax Challans Charitable & Religious Trusts
deduction u/sec 80C;Int 1. Income Tax 280
exempt u/sec 10(11) 1. Appln for regn 10A
2. TDS/TCS Tax Challans 281 2.Appln for approval/ cont 10G
Bonus is totally exempt; 3. Misc Direct Taxes 282 -inuance u/s 80G(5)(vi)
3 copies
Inv qualify for tax 4. Fringe Benefit Tax 283 3. Notice for accumulation of
deduction u/sec 80C 10
Income to AO
ference to year wherever appears represents asst year unless otherwise specified.
metax-indiaefiling.gov.in For PAN/TAN related matters: www.tin-nsdl.com or www.utitsl.co.in