WebNov 1, 2024 · 1. Income Tax Law. Income-tax is a tax levied on the total income of an assessee, being a person charged under the provisions of this Act, for the relevant … WebMay 23, 2024 · Principles of Taxation: 1. Horizontal Equity: The horizontal equity concept is important in taxation and it suggests that people in similar or identical positions will have the same tax burden. It is an economic theory that maintains that people with identical incomes and assets should pay the same tax rate.
Basic Concepts of Income Tax - taxmann.com
WebJun 22, 2024 · There are four ways to classify different types of taxes in India: 1. Taxes Levied by the Central Government and State Governments. 2. On the Basis of Relationship … Websharing of the tax base from electronic commerce between countries…” (OECD, 2001: 228). Tax policy choices often reflect decisions by policy makers on the relative importance of … rich bokides
TAX CONCEPT - Business News GST News Income Tax News
WebIn this session, Nishant Sir will be teaching about Charge of GST from Taxation for Unacademy CA AspirantsCall Nishant Kumar's team on 7825860203 and take y... WebOct 11, 2024 · The two central principles of taxation relate to the impact of tax on efficiency concerned with the allocation of resources) and equity (concerned with the distribution of … WebFederal Tax Accounting (Exam 1) Term. 1 / 40. The Business Purpose Concept means. I. that the economic purpose of the transaction must exceed the tax avoidance motive. II. that the taxpayer's dominant motive for an expenditure is to reduce taxation.. a. rich boie thorp wi