This is a presentation made by me to a batch of Indian tax officers at their training academy on 28th May 2012. It is on the head of income called "Income from Other Sources"
This is a presentation made by me to a batch of Indian tax officers at their training academy on 28th May 2012. It is on the head of income called "Income from Other Sources"
Income Tax Act 1961
Capital Gain, Basis of Charge, Capital Asset U/s 2(14) Income Tax Act, Transactions that do not constitute TRANSFER U/s 47, Types of Capital Assets, Computation of STCG, Computation of LTCG, Tax Exemption for Capital Gain.
Helps the student to know about the Agricultural Income in Indian Income tax Act 1961 and also how the Tax Liability will be calculated when an Assessee have both Agricultural and Non Agricultural Income
Every assessee earning more than the basic exemption are eligible to seek deduction from Gross Total Income by way of deductions allowed for investments or payments made, under Chapter VI-A of the Income Tax Act. Chapter VI-A helps an assessee to reduce the overall tax burden to the extent of investment and expenses made within the ambit of law and fulfilemt of prescribed conditions. In this Webinar, we shall be focusing on the provisions of Chapter VI-A which are essential for Individuals, HUF and Firms for the purpose of claiming deductions against their total income.
An overview on "Value of Supply" in GST. The presentation covers the provisions related to valuation of supply of goods or services or both made in different circumstances and to different persons.
INCOME TAX- Aggregation of Income/ Clubbing of the income under INCOME TAX ACT,1961
Income of other persons to be included in the income of individual( Section 60-65)
Income received from Firm assessed as Firm And Association of Persons (Section 66-67)
Deemed Income (Section 68-69)
Transfer of Income without Transfer of Assets[Sec. 60]
Revocable Transfer of Assets [Sec. 61]
Meaning of agricultural Income, Examples, Non Agricultural Income , Is Agricultural Income taxable? Case study, Examples of Agricultural Income and Non-Agricultural Income
Lawweb.in whether son becomes owner of property if property is purchased in h...Law Web
Whether son becomes owner of property if property is purchased in his name by his father?http://www.lawweb.in/2016/04/whether-son-becomes-owner-of-property.html?
Income Tax Act 1961
Capital Gain, Basis of Charge, Capital Asset U/s 2(14) Income Tax Act, Transactions that do not constitute TRANSFER U/s 47, Types of Capital Assets, Computation of STCG, Computation of LTCG, Tax Exemption for Capital Gain.
Helps the student to know about the Agricultural Income in Indian Income tax Act 1961 and also how the Tax Liability will be calculated when an Assessee have both Agricultural and Non Agricultural Income
Every assessee earning more than the basic exemption are eligible to seek deduction from Gross Total Income by way of deductions allowed for investments or payments made, under Chapter VI-A of the Income Tax Act. Chapter VI-A helps an assessee to reduce the overall tax burden to the extent of investment and expenses made within the ambit of law and fulfilemt of prescribed conditions. In this Webinar, we shall be focusing on the provisions of Chapter VI-A which are essential for Individuals, HUF and Firms for the purpose of claiming deductions against their total income.
An overview on "Value of Supply" in GST. The presentation covers the provisions related to valuation of supply of goods or services or both made in different circumstances and to different persons.
INCOME TAX- Aggregation of Income/ Clubbing of the income under INCOME TAX ACT,1961
Income of other persons to be included in the income of individual( Section 60-65)
Income received from Firm assessed as Firm And Association of Persons (Section 66-67)
Deemed Income (Section 68-69)
Transfer of Income without Transfer of Assets[Sec. 60]
Revocable Transfer of Assets [Sec. 61]
Meaning of agricultural Income, Examples, Non Agricultural Income , Is Agricultural Income taxable? Case study, Examples of Agricultural Income and Non-Agricultural Income
Lawweb.in whether son becomes owner of property if property is purchased in h...Law Web
Whether son becomes owner of property if property is purchased in his name by his father?http://www.lawweb.in/2016/04/whether-son-becomes-owner-of-property.html?
Joint hindu family or Hindu Undivided Family (HUF) is an exclusive feature of Hindu Law. Joint Hindu family is a unit considers by law as separate entity for the purpose of taxation, but it is not considered as separate legal person. Present slides give an overview of Hindu undivided family and its consequences.
What Exactly Is A Hindu Undivided Family.pdfyamunaNMH
Hindu Undivided Family- You may learn more about the HUF concept, how it can save you money on taxes, and the laws that apply to HUFs in India by reading this guide. For the aim of reducing income taxes, Hindu Undivided Families, or HUFs, are frequently formed in India. You may learn more about the HUF concept, how it can save you money on taxes, and the laws that apply to HUFs in India by reading this guide.
The term “intestate succession” implies succession to the property of a person who dies without making any testamentary disposition of it.
It also refers to property which an intestate leaves behind him to pass to his heirs.
The Chapter under HSA containing Sections 5 to 17 are grouped under the heading “Intestate Succession general”.
When a Hindu male dies intestate in India, that is without leaving a will, the devolution of his property upon his heirs is done by the rules specified under the Hindu Succession Act 1956.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
2. Not defined in the Act but mentioned in the
list of “persons” under Sec.2(31).
As per Hindu Law, HUF is a family which
consists all persons lineally descendant
from a common ancestor and includes their
wives and unmarried daughters.
Mainly Applicable to Mitakshara school.
It is all about undivided share in inherited
property.
3. Income of HUF will be assessed if the
following conditions are fulfilled :-
There is a Coparcenership.
And
There is Joint-Hindu-Family which yields
income
4. All persons of HUF are called members.
Male members are called coparceners.
The coparceners acquire, by birth, a right
in the joint family property.
They have the right to enforce partition.
Female members have no such right.
They are entitled to maintenance out of
the family property.
5. The successor in Mitakshra has to share
the right to inherited property with others
The successor in Dayabhaga has
absolute ownership on inherited property.
6. HUF comes into existence whenever--
Inheritance from paternal ascendants takes
place
No of Coparcener is more than one
In case of non testamentary death where one has
self acquired property HUF will take over
Once HUF is in place, it almost becomes
perpetual.
7. The Concept of coparcener
Right to inherited property while still in mother’s
womb irrespective of gender.
The share of coparcener is variable.
Inheritance from 3 generation of lineal paternal
ascendants (Apratibandh Daya).
No rights on inheritance from others
(Sapratibandha Daya)
The senior most male member will usually be the
Karta.
8. Upon Karta’s / Copercener’s death his
share will devolve upon his widow and
mother. He cannot give his share to
anybody through will.
No rights to ascendant’s self acquired
property or ascendant’s inherited
property from other sources.
9. On such Properties the concerned person
will have absolute right and can make
testamentary disposition.
One person may be coparcener / karta of
more than one HUF.
If development of HUF property is made
by any coparcener then such income will
be proportionately charged.
10. HUF can come into existence even
without inherited property.
Individual property may be transferred to
common stock.
Section 64(2) will be attracted in all the cases
HUF will be assessed just as
Individual, though some of the
deductions under chapter VIA will not be
available.
11. Any property received through
inheritance but not through the paternal
ascendants will not come into the
common stock. The recipient is absolute
owner of such property.
If this property is shown in the common
stock then sec 64(2) will be attracted.
Coparceners have no liability till partition.
13. Partial Partition is no more recognised.
On total partition
A.O. to cause Inquiry
Separate assessment for broken period.
Members are jointly and severally responsible
for tax in arrears in post partition stage.
However the joint liability is limited to the share
of property received on partition. (Sec 171).
14. Income assessed in the hands of HUF
cannot be assessed in the hands of
individual. {Sec. 10(2)}
Karta of HUF can be prosecuted unless
he can prove that offence was committed
without his knowledge.
The other coparceners can also be
prosecuted if his complicity is proved.
15. Total income of HUF is to be computed
as per general rules:
Compute head-wise income excluding
exempted incomes.
Allow deductions under Chapter-VIA.
Calculate tax payable, as per rates
applicable to individuals.
16. Points to be noted :
Fund of the HUF invested in company or
firm and any fees remuneration ordinarily
received by any member from the company
or firm will be Income of HUF unless it is
derived by the member in his individual
capacity.
Any income arising out of property
converted by the individual u/s.64(2) to the
common stock of HUF will not be included
in HUF’s income. It will be the member’s
individual income.
17. Points to be noted :
Stridhan is the absolute property of
woman. Any income arising out of
Stridhan will not be includible in HUF’s
income.
Under the Dayabhaga system any
income arising out of the property to the
father will be his personal income unless
he has a brother to own such property
jointly and to form coparcenary.
18. However, in case of House Property jointly
owned by co-owners, where each owner’s
share is definite and ascertainable, house
property income will be computed as per
Sec. 26.
Share of income from HUF received by
any member will be exempted in his hand
u/s.10(2).