The word tax is derived from the Latin word “taxo” which means “rate”.
It is a financial charge Upon Taxpayer. Taxpayer may be individual or legal entity.
Types of tax:
If tax is charged on personal or corporate income, then it is a direct tax.
If tax is charged on the price of a good or service, then it is called an indirect tax.
This presentation gives an introduction to Taxation
What is a TAX?
Types of Taxes in India
Direct Tax
Sub categories of Direct Tax
Indirect Taxes
Benefits of Taxes
Advantages of Paying taxes
Penalty for not Paying taxes
This video describes who should file income tax return in Pakistan under the Income Tax Ordinance, 2001.
Links:
Website: www.mncglobal.com
Video: https://youtu.be/EXYThkDDpUo
YouTube Channel: https://www.youtube.com/channel/UCsHJIpOZhkSE9PvlyJMS5cw?view_as=subscriber
This presentation gives an introduction to Taxation
What is a TAX?
Types of Taxes in India
Direct Tax
Sub categories of Direct Tax
Indirect Taxes
Benefits of Taxes
Advantages of Paying taxes
Penalty for not Paying taxes
This video describes who should file income tax return in Pakistan under the Income Tax Ordinance, 2001.
Links:
Website: www.mncglobal.com
Video: https://youtu.be/EXYThkDDpUo
YouTube Channel: https://www.youtube.com/channel/UCsHJIpOZhkSE9PvlyJMS5cw?view_as=subscriber
This presentation contain information regarding history of income tax, legal framework, tax collection bodies, types of tax, income tax, canons of taxation and definition for the term assesse, person, previous year, assessment year, income, total income and gross total income and agriculture income as per IT act 1961
Dear Viewers, This presentation covered the Income Tax Law & Practice. Mainly this slides focused on Introductory Part.
Enjoy with the learning.
Yours Dr.K.Chellapandian, Asst Prof of Commerce, Vivekananda College, Madurai. Tamil Nadu - 625 234 - India
The computer
first, Accepts data such as raw facts, figures, and symbol
then, Processes data into information (Data that is organized, meaningful, and useful )
finally, Produces and stores results
based on stored program design
processor system
CPU
memory
input/output system
input/output devices
secondary storage
manages the instruction-execution cycle
FETCH – DECODE – EXECUTE
coordinates the activities of other devices
Computers – A Gateway to Information(Memory)Tallat Satti
Memory consists of electronic components that store instructions waiting to be executed by the processor, data needed by those instructions, and the results of processing the data
Stores three basic categories of items:
A world-wide network of computers allows people to share information electronically
Like a BIG book with many web-pages on different topics
Can be accessed anywhere with an Internet connection
Bailment Contracts
A Contract where one party delivers goods to the other upon return basis to fulfil a specific purpose is called bailment contract. It includes two parties namely; bailer and bailee. The person who is delivering the goods is called bailer and the person to whom goods are delivered, is called bailee.
Types of Bailment Contracts
The bailement contracts are classified into Gratuitous bailments and Non – Gratuitous bailments.
Difference between Bailment and Sale
"Cheque is an instrument in writing containing an unconditional order, addressed to a banker, sign by the person who has deposited money with the banker, requiring him to pay on demand a certain sum of money only to or to the order of certain person or to the bearer of instrument."
Definition:-
A bailment is the delivery of goods by one person to another for some purpose upon the understanding that good shall be returned when the purpose is completed.
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Dissolution may also refer to the termination of a contract or other legal relationship; for example, the dissolution of a marriage, or divorce.
Application software: helps users solve particular problems
In most cases, application software resides on the computer’s hard disk
Application software can also be stored on CDs, DVDs, and flash or key chain storage devices
History of Internet and advantages of internetTallat Satti
Internet,History of Internet,Terminologies,Advantages and Disadvantages of Internet.E-mail
File Transfer Protocol
Telnet
Other Services
Newsgroups
Chat services
Social networking
E-shopping
Moreover blogs and video conferencing.
4G,5G connection.
Used to digitize images or video from the outside world into the computer.
Digital camera
Webcam
Media players
Hardware peripheral that allows computer users to input audio into their computers
MIDI information is sent to a computer that is capable of reproducing an array of digital sounds that resemble traditional analog musical instruments.
It is a collection of programs that enables a person to manipulate visual images.
Super Paint (1973) was one of the earliest graphics software applications.
Currently Adobe Photoshop is one of the most used and best-known graphics programs.
system software and application softwareTallat Satti
Software is a general term for the various kinds of programs used to operate computers and related devices. (The term hardware describes the physical aspects of computers and related devices.)
Perform more specialized tasks (word processing, spreadsheets, email, photo editing, bookkeeping)
Installed onto your computer with disk or downloaded
Can be web based, with no need to download program onto computer
WHY bases abroad?
Safe-guarding US National interests
Early warning of hostile aggressive actions.
Fulfillment of Defence alliances and Treaty responsibilities
Facilitate post-conflict occupation and peace keeping operations
Symbol of Power
Maintain its sole super-power status by containing potential competitors such as PRC.
PAX Americana
The Spotted lake is found in British Columbia in Canada.
The most notable feature of the lake is the multi-colored spots that are very visible and prominent even when viewed from the highway
PARLIAMENT AND STRUCTURE OF FEDERAL GOVERNMENTTallat Satti
A parliamentary system is a system of democratic governance of a state in which the executive branch derives its democratic legitimacy from, and is held accountable to, the legislature (parliament); the executive and legislative branches are thus interconnected
Introduction
The presentation contains information about the armed conflicts in Pakistan, The losses suffered by Pakistan due to its internal conflicts. Pakistan has lost millions of people due to internal conflicts. All these conflicts are discussed in this presentation.
Threat of nuclear war
LAL MASJID CONFLICT
Operation Black Thunderstorm
Operation Rah-e-Nijat
zarb e azb
ECONOMICAL REFORMS
Savings and Investments
Human capital development
Agriculture
Dams
Women Empowerment
1.Gross domestic product
Increased from $60billion to $170 billion
2.Domestic and foreign investements
Increased from $60 billion to $170billion
3.Exports
Tripled form $7billion to $22 billion
4.International trade
Increased from $20 billion to $60 billion
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on the issue of UNIFORM MARRIAGE AGE of men and women.
2. “In this world, nothing is certain
but death and taxes”
-Benjamin Franklin
3. INTRODUCTION
The word tax is derived from the Latin word “taxo” which
means “rate”.
It is a financial charge Upon Taxpayer. Taxpayer may be
individual or legal entity.
Types of tax:
If tax is charged on personal or corporate income, then it is
a direct tax.
If tax is charged on the price of a good or service, then it is
called an indirect tax.
4. PURPOSE OF TAXATION
The purpose of taxation is to finance government expenditure
i.e. providing public goods and services, such as defense,
public welfare, social security etc.
Increase level of standard.
It influences the direction and structure of money supply,
investments, credits, production, interest rate, inflation, prices
and in general, of the national economy etc.
5. KINDS OF TAXATION
INCOME TAX: It is imposed on factors market
EXCISE DUTY: It is imposed on product market
SALES TAX: It is imposed on buyers & seller side of the
market.
WITHHOLDING TAX: It is imposed on assets such as motor
vehicle and property etc.
6. INCOME TAX
Income tax is a type of tax which is collected by the (FBR) federal board
of revenue, It is the semi-autonomous, supreme federal agency of
Pakistan that is responsible for auditing, enforcing and collecting
revenue for the government of Pakistan.
INCOME TAX LAW:
Law concerning taxation of income in Pakistan is stated in the
Income Tax Ordinance, 2001 (the Ordinance) and the rules framed
there under viz. Income Tax Rules, 2002 (the Rules).
The Ordinance is a Central statute and is, therefore, applicable to the
whole of Pakistan.
Under section 4 of the Ordinance, income tax is imposed for each
tax year at specified rates on every person who has taxable income
for the year.
7. HEADS OF INCOME TAX IN
PAKISTAN
Under the Ordinance, income is classified into the following
five heads:
Salary
Income from property
Income from business
Capital gains
Income from other sources
8.
9. Income from Salary
Salary includes:-
Wages
Any gratuity
Any fees, commission, bonus, perquisite on profits.
Any advance of salary
Any earned leave
Employers contribution (taxable) towards recognized provident
fund.
10.
11. CONDITIONS TO BE SATISFIED
The property must consist of buildings or lands
The assesse must be the owner of such house property.
The property should not be used by the owner thereof for the
purpose of any business or profession carried on by him, the
profits of which are chargeable to tax.
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13. BASIS OF CHARGE
The following income is chargeable to tax under the head “Profits of
business or profession”
Profits of any business or profession;
Any compensation or other payments due to or received by any
person specified
Income derived by a trade, professional or similar association
from specific services performed for its members
The value of any benefit or perquisite, whether convertible into
money or not, arising from business or the exercise of a
profession
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14. Any profit on transfer of the Duty Entitlement Pass Book
Scheme.
Any profit on the transfer of the duty free replenishment
certificate
Export incentive available to exporters
Any interest, salary, bonus, commission or remuneration
received by a partner from firm; Any sum received for not
carrying out any activity in relation to any business or not to
share any know-how, patent, copyright, trademark, etc.
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16. BASIS OF CHARGE
Capital Gain’s tax liability arises only when the following
conditions are satisfied:
There should be a capital asset.
The capital asset is transferred by the assesse
Such transfer takes place during the previous year.
Any profit or gains arises as a result of transfer.
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18. GENERAL
Income of every kind, which is not to be excluded from the
total income and not chargeable to tax under any other
head, shall be chargeable under the head “Income from
Other Sources”.
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19. SPECIFIC INCOME
Dividends
Lottery winnings
Income by way of interest on securities
Interest on bank deposits and loans
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20. IMPACT OF TAXES
Types of taxes affect people differently, depending on their
income, three forms of taxes are:
Progressive Tax
Regressive Tax
Proportional Tax