Notes and Study material for Exams
Calculation of Income tax (for salaried person and excluding house rent allowance) Salary is made up of various components such as: Basic salary, House rent allowance (HRA), Special allowance Other allowances, reimbursements etc. However, not all of the amount received as salary is fully taxable. A part of it … Read more
Human Development is a process of enlarging people’s choices. The most critical ones are to lead a long and healthy life, to be educated and to enjoy a decent standard of living. Additional choices include political freedom, guaranteed Human Rights and self-respect.Human development has to be development of the people, by the people, for the … Read more
Understanding Dividend Distribution Tax: A Comprehensive Guide Dividends, the share of profits distributed by companies to their shareholders, are a crucial aspect of investing. However, the tax implications of receiving dividends can be complex, particularly in India, where the Dividend Distribution Tax (DDT) plays a significant role. This article delves into the intricacies of DDT, … Read more
Profit and loss IMPORTANT FACTS Cost Price: The price, at which an ARTICLE is purchased, is called its cost price, abbreviated as C.P. Selling Price: The price, at which an article is sold, is called its selling prices, abbreviated as S.P. Profit or Gain: If S.P. is greater than C.P., the seller is said … Read more
The Art of Revenue Budgeting: A Comprehensive Guide Revenue budgeting is the cornerstone of any successful business. It’s the process of forecasting and planning how much income a company expects to generate over a specific period. A well-crafted revenue budget serves as a roadmap, guiding strategic decisions and ensuring financial stability. This article delves into … Read more
–2/”>a >DOCTYPE html PUBLIC “-//W3C//DTD XHTML 1.0 Transitional//EN” “http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd”> OBJECTIVES OF SOCIAL LEGISLATION : Social legislation derives its inspiration from our constitution and has the following specific objectives: i)Removal of discrimination on the grounds of sex, religion, caste, class etc. and promotion of Equality to all. ii)Safeguard the rights of the weaker section such … Read more
Regional Imbalances And Income Inequalitiies In India: Steps taken by the Government to reduce it. Regional imbalance is the disparity in economic and social development of two regions. One region/city/area is stronger than another region/city/area. Regions develop when investments are made to set up industries, service sectors, educational institutions, Health care facilities etc. Income inequality is the unequal distribution of … Read more
The following are subtopics related to poverty line: Absolute poverty Chronic poverty Extreme poverty Headcount Ratio National poverty line Poverty Gap Poverty rate Poverty threshold Relative poverty Social exclusion Sustainable Development Goal World Bank poverty line Poverty is a state or condition in which a person or community lacks the resources and opportunities necessary for … Read more
Proportional Taxation: A Fair and Equitable System? Proportional taxation, also known as a flat tax, is a system where everyone pays the same percentage of their income in taxes, regardless of their income level. This stands in contrast to progressive taxation, where higher earners pay a larger percentage of their income in taxes, and regressive … Read more
Steps taken by the Government to reduce it. Regional imbalance is the disparity in economic and social development of two regions. One region/city/area is stronger than another region/city/area. Regions develop when investments are made to set up industries, service sectors, educational institutions, Health care facilities etc. Income inequality is the unequal distribution of household or individual income across the various participants … Read more