Income Tax is an example of

Income Tax is an example of
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 Ans. Direct tax
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Description : A multistage sales tax with credit for taxes paid on business purchases.

Last Answer : Ans. VAT

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Description : The tax which is levied on goods or services produced or purchased.

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Description : The farming which has < 50% income by single enterprise

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Description : Net income is

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Description : Gross income - Total Cost is equal to

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The economic deal with the whole economic setup i.e. total production, total expenditure, total income etc.

Description : The economic deal with the whole economic setup i.e. total production, total expenditure, total income etc.

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Operational audit differs in many ways from an audit of financial statements. Which of the following is the best example of one othese differences? a. The usual audit of the financial statement covers four basic statements, whereas operational audit is usually limited either the statement of financial position or the income statement. b. Operational audit do not necessarily result in the preparation of a report. c. The operational audit deals with pre-tax income. d. The boundaries of an operational audit are often drawn from an organization chart and are not limited to a single accounting period.f

Description : Operational audit differs in many ways from an audit of financial statements. Which of the following is the best example of one of these differences? a. The usual audit of the financial statement ... audit are often drawn from an organization chart and are not limited to a single accounting period.

Last Answer : The boundaries of an operational audit are often drawn from an organization chart and are not limited to a single accounting period.

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Is there any reason to keep income tax returns dating back to 1999-2000?

Description : Is there any reason to keep income tax returns dating back to 1999-2000?

Last Answer : According to a tax attorney and other professional preparers, you only have to keep federal returns for 7 years. There is no statute of limitations for CA state returns, so there might not be any for GA ... file a tax return or report, Georgia can audit you or assess tax against you at any time.

What is the reason for not doings things like income tax, banking, petitions, online?

Description : What is the reason for not doings things like income tax, banking, petitions, online?

Last Answer : answer:Perception of safety is a big one. I personally do banking and taxes and all of that online, but my parents (the WW2 generation) don't. I don't know that it's rational - most online ... might have some sort of a transaction number, but absolutely nothing that I could show in a court of law.

Is there income tax in California?

Description : Is there income tax in California?

Last Answer : Yes. I would be more specific but that seems to cover it.

On this U.S. Tax Day, what are your thoughts about our current income tax system vs replacing it with a simplified flat sales tax across the board?

Description : On this U.S. Tax Day, what are your thoughts about our current income tax system vs replacing it with a simplified flat sales tax across the board?

Last Answer : answer:Poor people would end up paying significantly higher percentage of their income to tax. The people who can least afford it would be penalized even further.

How much is the income tax for modelling? (NYC)

Description : How much is the income tax for modelling? (NYC)

Last Answer : Are you employed or are you a private contractor? Did you fill out a w-4? You decide how much taxes to take out based on your w-4

What do you plan to do with your income tax refund this year?

Description : What do you plan to do with your income tax refund this year?

Last Answer : I am not planning on getting one.

If you had the option to decide how much to pay in federal income tax,what percentage would you pay?

Description : If you had the option to decide how much to pay in federal income tax,what percentage would you pay?

Last Answer : My effective rate is 15%, according to turbotax. I’d be willing to raise that 2 or 3 percent.

How long does it take to receive the income tax return in Barcelona, spain ?

Description : How long does it take to receive the income tax return in Barcelona, spain ?

Last Answer : answer:I wonder if this jelly ever got his tax refund! Looking back at some orphans, and thought this was a peach of a question. I would assume from his lurve, he (she) asked this one question and drowned…...

What countries have no income tax?

Description : What countries have no income tax?

Last Answer : Here is a link to tax rates of countries around the world.

Are illegal immigrants required to file an income tax return?

Description : Are illegal immigrants required to file an income tax return?

Last Answer : Illegal immigrants don't file. Remember they are hiding from the government. But, some do pay taxes. If they are using an illegal social security number they are paying in, their employers are ... them as though they are citizens. But, the majority of illegal aliens are working under the table.

Which income tax form do i use?

Description : Which income tax form do i use?

Last Answer : I'm trying to recreate this from memory, so take everything with the caveat that you should run it past a tax accountant! Yes, you can use Turbo Tax. I believe that unless you have a very ... that you can at least use the one you used last year, but certainly read through the information first.

What happens when you report a loss on your income tax?

Description : What happens when you report a loss on your income tax?

Last Answer : I believe a loss offsets your income you make, but that is only if you sell your stocks (or whatever you have in your portfolio). If you hang on to it then I don't think you can claim a loss. So ... for certain, but my brother does it all the time so he doesn't have to give the gov so much money.

We're Not Legally Obligated to Pay State/Federal Income Tax? It is a voluntary tax?

Description : We're Not Legally Obligated to Pay State/Federal Income Tax? It is a voluntary tax?

Last Answer : I can direct you to a law on a dot-gov website that states pretty darn clearly what happens to you if you don’t pay federal income taxes. You go to jail. So if by “voluntary” you mean, your choice is your money or your freedom, the suuuure, it’s voluntary.

Do you need to file your income tax to receive the rebate?

Description : Do you need to file your income tax to receive the rebate?

Last Answer : answer:I believe that is one of the requirements, that you have to file taxes. I found the IRS's website on the rebates here Quote Millions of retirees, disabled veterans and low-wage workers who ... exempt from filing a tax return must do so this year in order to receive a stimulus payment.

I am unemployed. Do I pay federal tax on interest rate income i make from investing in treasury notes?

Description : I am unemployed. Do I pay federal tax on interest rate income i make from investing in treasury notes?

Last Answer : I would check the IRS website….but you probably do have to pay taxes on that income if it exceeds a certain amount.

Do you believe that, during your lifetime, the current USA federal income tax (and the IRS) will be eliminated and replaced with a federal sales tax?

Description : Do you believe that, during your lifetime, the current USA federal income tax (and the IRS) will be eliminated and replaced with a federal sales tax?

Last Answer : I don't think a national sales tax is the answer. Now, I'm no economist, so my logic may be faulty but here goes: For the purposes of this example, assume all 3 families consist of 2 adults and ... fair and across the board is to go with a flat percentage rate tax on income only, paid by everyone.

the federal income tax is a _____ -General Knowledge

Description : the federal income tax is a _____ -General Knowledge

Last Answer : The federal income tax is a progressive tax.

Which is the tax that takes away a higher proportion of one’s income as the income rises? -General Knowledge

Description : Which is the tax that takes away a higher proportion of one’s income as the income rises? -General Knowledge

Last Answer : The answer is 'Progressive tax'

By whom is Agricultural Income Tax assigned to the State Governments? -Do You Know?

Description : By whom is Agricultural Income Tax assigned to the State Governments? -Do You Know?

Last Answer : answer:

Which is the tax that takes away a higher proportion of one’s income as the income rises? -General Knowledge

Description : Which is the tax that takes away a higher proportion of one’s income as the income rises? -General Knowledge

Last Answer : answer:

Which is the tax that takes away a higher proportion of one’s income as the income rises? -General Knowledge

Description : Which is the tax that takes away a higher proportion of one’s income as the income rises? -General Knowledge

Last Answer : answer:

With a gross income of 30,000 and a 25% tax deduction, what is your monthly net income?

Description : With a gross income of 30,000 and a 25% tax deduction, what is your monthly net income?

Last Answer : 22500

What online personal income tax software for both federal and state taxes can you recommend?

Description : What online personal income tax software for both federal and state taxes can you recommend?

Last Answer : I recommend online personal income tax software for both federal and state taxes, as well as software to help you file an extension if you need it.cutt.ly/JjWSDSE

What is income tax ?

Last Answer : Tax on profit / The amount of income paid by the owner or organization to the state or government is called income tax.

What is Income Tax ?

Last Answer : Income tax is a tax payable on the income or dividends of an individual or entity. Under the Income Tax Ordinance 1974, tax refers to income tax payable under the ordinance , additional tax , surplus ... government to meet the expenses of the state in the interest of all the people of the state.

In what year did Bangladesh land first come under income tax ?

Last Answer : The land of Bangladesh came under the first income tax in 180.

In which country was the first income tax born ?

Last Answer : The first income tax was born in Britain.

What is the provision of income tax in case of admission of students in English medium school ?

Last Answer : Answer : A new Clause (x) has been added after the Clause (w) of Sub-Section (1) of Section 184A in the Income-tax Ordinance through Finance Act , 2015 . In case of admission of ... verify the validity of the 12 digit TAON after receiving the acknowledgment of receipt of such certificate / return.

What is the penalty for not submitting income tax return ?

Last Answer : In order to give the taxpayer a chance to defend himself, subject to giving notice under section 130, the defaulting taxpayer may impose a penalty of 10% of the last imposed income tax or at least Rs. 1,000, ... levied on his last assessed income or Rs.1,000 / - , whichever is higher . Will not |

How to file an income tax return ?

Last Answer : : Any income tax office or www.nbr.gov.bd should collect the return form from this web site and fill it by the taxpayer. If you are a new taxpayer, you need to attach one copy of ... of Taxes or any officer authorized by him after submission of return is considered as a tax assessment order.

What are the requirements for filing income tax return ?

Last Answer : Income tax return is the means of presenting a brief statement of the taxpayer's annual income to the income tax authority . Taxpayer's annual income-expenditure and assets and liability ... the stipulated time , the concerned taxpayer will be penalized by the Deputy Commissioner of Taxes.

What kind of action will be taken if someone does not submit income tax return on time ?

Last Answer : In case of non-submission of income tax return within the stipulated time , 10% or at least Rs . , Whichever is more , the Deputy Commissioner of Taxes may impose a fine. Provided that- (1) The total ... on his last assessed income or Rs.1,000 / - , Whichever is more , the penalty will be levied

At what time do I have to file my income tax return ?

Last Answer : In case of taxpayers of all classes except company, income tax returns have to be filed within the period of 3 months from 1st July to 30th September every year. If it is not ... is possible to file returns under the general or universal self-determination procedure within the extended period.

Where to file income tax return ?

Last Answer : : Income tax circle is specified for filing returns of each category of taxpayer. For example , all the civil government functionaries / employees and pensionable officers / employees who are located ... filing income tax returns from the nearest Income Tax Office or Tax Advice Center if required.

Which services are subject to income tax deductible at source ? What is the tax rate ?

Last Answer : Fees for professional services Fees for technical services No fees or fees or commissions in whatever name they are paid to a director , which is not in the nature of salary Income Royalty Any aggregate income referred to in clause ( VA) of Chapter 28 Related to incomplete payments

Who is responsible for deducting advance income tax ?

Last Answer : Government or any other authority authorized by the government to authorize the sale of government company or body company bank , insurance co-operative bank, NGO, customs commissioner, bendroll.

What is advance income tax ?

Last Answer : Advance Income Tax (AIT) is a type of tax levied on goods imported for commercial purposes. This tax system was introduced in 2006 to bring unregistered importers under the tax net. Note that AIT will be treated in the same way as withholding tax at the time of filing the return.