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Income taxation ppt

WebTaxation – Income from house property • Property A : • Step 1: Compare F.R 1 lakh with MV.Rs.1.2lakh Whichever is higher is F.R. = 1.2 lakh • Step 2 Compare F.R ( of step 1 = 1.2) with S.R. 1.25 whichever is lower is FR. = Rs.1.2 lakh • Step 3 Compare F.R of step 2 Rs.1.2 lakh with A.R. 1 lakh whichever is higher is Fair Rent = 1.2 lakh WebColorful PPT theme having depiction of tax from earnings with scissors and 2D text TAX Amazing slides consisting of tax time written in all capitals on a tax form Colorful PPT …

Introduction To Income Tax - PowerPoint Slides - LearnPick

Web4. Objectives of Taxation. Goals include raising revenue, wealth. redistribution, price stability, economic growth, and social goals. Horizontal equity persons in similar. circumstances … WebJul 30, 2024 · Notwithstanding the overall statistical significance that exists between the tax revenue and total revenue, Petroleum Profit Tax (PPT) was the only predictor that was statistically... bothell hindu temple and cultural center https://changingurhealth.com

Accounting for income taxes - PowerPoint PPT Presentation

WebApr 11, 2024 · 1 Views Download Presentation. The official announcement for the 2024 Income Tax Recruitment has not yet been made public. However, it is anticipated that the Staff Selection Commission will handle the hiring process. (SSC). Candidates who are interested in applying for this position must complete an online application. Uploaded on … WebSep 14, 2014 · Five main Heads of Income:SalariesIncome from House PropertyProfits and Gains of Business or ProfessionCapital GainsIncome from Other Sources** Under each Head of Income, there could be multiple Sources of Income For example, a person could be employed with more than one employer. WebApr 13, 2024 · An Income Tax Return (ITR) is a document that taxpayers use to report information about the income they have earned and the applicable taxes to the income tax department. The income tax department has notified seven different forms, namely ITR-1, ITR-2, ITR-3, ITR-4, ITR-5, ITR-6, and ITR-7. hawthorne wedding venue

salary taxation.ppt - Income under the head SALARIES ...

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Income taxation ppt

Tax Regime Selection: New vs Old? 5 reasons to decide now

WebFeb 24, 2024 · Petroleum profit tax (PPT) PPT is a tax on the income of companies engaged in upstream petroleum operations in lieu of CIT. The PPT rates vary as follows: 50% for petroleum operations under production sharing contracts (PSC) with the Nigerian National Petroleum Corporation (NNPC). WebTaxation: Exempt Incomes • Sum received from Life insurance policy including bonus but this exemption isnot available for: a) Scheme under sec.80DD – Maintenance and medical …

Income taxation ppt

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WebFeb 25, 2016 · - PowerPoint PPT Presentation TRANSCRIPT Chapter 11: Income Taxation of IndividualsEquals: Adjusted Gross Income (AGI) Less: Itemized or standard deduction Less: Personal & dependency exemptions Less: Tax credits 11 - * Moving expenses Educator expenses Other deductions for AGI Educator Expenses WebIncome tax applies to any income of an Individual and HUF except capital gains and profits from business and profession. Income tax is calculated as per the applicable slab rates for the Assessment Year. The central government announces the …

WebA earns N20,000 taxable income and pays 10% as tax (i.e. N,2000) and Mr. B earns a taxable income of N80,000 and pays 20% as tax (i.e. 16,000). In this situation, income tax is progressive, as the tax rate has direct relationship … WebApr 10, 2024 · Moreover, income up to Rs 7 lakh is tax-free under the New Regime. This along with a standard deduction of Rs 50,000 makes income up to Rs 7.5 lakh tax-free …

WebJan 31, 2024 · Below are the tax rates according to the old tax regime: Old income slabs Tax rates for persons below 60 years Nil Tax rates for persons between 60 and 80 years Nil Tax rates for persons above 80 years Nil Up to Rs. 2,50,000 Rs. 2,50,001 to Rs. 3,00,000 Rs. 3,00,001 to Rs. 5,00,000 5% Nil Nil 5% 5% Nil WebApr 10, 2024 · Moreover, income up to Rs 7 lakh is tax-free under the New Regime. This along with a standard deduction of Rs 50,000 makes income up to Rs 7.5 lakh tax-free under the New Regime. However, other ...

WebTaxation is the practice of collecting taxes (money) from citizens based on their earnings and property. The primary purpose of taxation is to raise revenue to meet huge public …

bothell hiltonWebApr 13, 2024 · ITR-1 or Sahaj is a type of Income Tax Return Form used by a resident individual in India. This form is applicable for the Assessment Year 2024-24. The form is … hawthorne weightless conditionerWebAfter completing this training, you will be ableto: Identify the federal, state, and local taxreporting requirements of a small business and its owner, and establish a plan to … hawthorne wedding venue ohioWebDec 26, 2012 · Income tax-ppt-revised venkataramanan Thiru. ... • PERSON. • GROSS TOTAL INCOME. • TOTAL INCOME. 5. INCOME TAX SLAB RATES (APPLICABLE FOR … bothell high school track and field scheduleWebTaxation -Salary Taxation -Salary 7.Surrender of Salary: If an employee surrenders his salary u/s 2 of Surrender of Salaries (Exemption from taxation act 1961), the salary so … bothell hindu temple hoursWebTaxation – Business Income • Expenditure on Eligible Project / Scheme : Sec.35AC • Where assessee incurs any expenditure by way of payment of any sum to public sector company or local authority or an institution or association approved by the National Committee for carrying out any eligible project or scheme it will be allowed as deduction. • Eligible … bothell hilton garden innWebNov 5, 2014 · 6. A tax imposed on taxable income in one taxable year. It is based on the gross income/ taxable income payable yearly by individual persons or corporations 7. … hawthorne weight loss