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Describe the incidence of Taxation in the case of direct taxes. Describe the role of public enterprises in developing countries.
Are tax incentives inherently undesirable or more simply vulnerable to misuse? Describe this question by considering arguments for and against the use of tax incentives.
Compute the total income tax payable by Mr. John’s wife for the income year ended 30 June 2009.
Make a brief report for Ranjiv listing the main differences existing between the taxation of a self-employed and that of an employee.
Compute Sue's income tax liability for the tax year 2008/9, if she is treated as carrying on a trade in respect of her motor car activities.
What are the tax consequences to X of the distribution to Abby? X’s basis in the equipment was $36,000. X bought the equipment new six years ago.
Calculate the national insurance payable in relation to Catherine Jones for 2013-14. You should assume that Catherine Jones in not contracted out.
What do you mean by Excise Duty? Who is liable to pay it? Illustrate the basic conditions for levy of duty under Section 3 of the Central Excise Act, 1944. As well state the types of duties of excis
What do you mean by professional Tax? Describe the provisions of Payment of professional tax through salaried person.
Define the word salary. Describe in detail different forms of perquisites under the head of Income from salary.
What do you mean by audit? Define auditing and give it nature and benefits.
Describe the incidence of tax with suitable example? Describe the deductions available to assessee u/s 24 under the head income from house property.
What is casual income? Describe provision related to it. Describe the provision related to set off and carry forward of capital losses.
What is the difference between short term and long term capital assets? Describe the provision related to set off and carry forward of house property losses.
“The Fringe Benefit Tax in New Zealand was introduced in mid 1980’s as an antiavoidance measure for employment income”. Do you agree with the statement?
Nigel is a professional percussionist and performs with the number of bands and orchestras. In order to practice, he set aside a special room in his house which is soundproof and contains a number o
In each of the following situations, determine if the suitable action was taken. If not, explain the financial statement impact of the error. Recorded the $50,000 purchase of land acquired for invest
Errol provides his employee with use of the car for 183 days during the FBT year ending 30th June 2013. At this time, car travelled 16,000km.Compute taxable value of the FBT for car applying the stat
Whether Lexington can deduct the lawsuit judgment for income tax purposes, and if so, in what year can it claim the deduction?
On 1 June 2013 Julie was involved in the car accident. She decided to replace the car’s wrecked petrol engine with the more efficient diesel engine with a much greater economy of operation at
How is residence of assesses determined? Describe tax liability on the basis of residence.
What do you understand by the term exempted incomes? Which kinds of exemption does income tax Act gives to incomes?
Kerry is an employee of the university. She is given with 10 gift vouchers worth $50 each for use at the local supermarket as a Christmas gift. Advise Kerry and the University of the Tax Consequence
If the before tax cash flows represent taxable income in the year received, calculate the NPV of the cash flows to Ace.
Calculate the Olds’ net tax payable (or refund due) for 2012. For full credit you should use the applicable tax forms and proper schedules. You should also show your total computations for: Gro