Capital Receipt and Revenue Receipt are an integral part of business activity, likecapital expenditure and revenue expenditure. Both represent an inflow of cash for the business. Although both are an integral part of business activity, capital and revenue receipts differ from each other in various a...
The Revenue refused the claim, contending that the receipt was income rather than capital. JLP appealed against the inclusion of the amount in its corporation tax assessment for the accounting period ended January 31, 1996. 展开 年份: 2001 ...
(i) The receipt must not create a liability for the government. For example, taxes levied by the government are revenue receipts as they do not create any liability. However, any amount, borrowed by the government, is not a revenue receipt as it causes an increase in Satisfies both the Co...
Ans: (D) Tax Tax is considered as the part of revenue receipt and many more such as profits, interest earned incomes from other sources, etc. Capital markets denote the places where funds are swapped between suppliers of capital Borrower of capital Those who request capital investments. Both ...
In 1995, JLP adopted a tax-saving scheme proposed by a Dutch bank on terms that provided that the bank should receive a fee if the Revenue did not successfully challenge the scheme. JLP treated the receipt as capital and claimed roll-over relief on its reinvestment in opening new stores ...
Revenue receipt Capital receipt In simple terms, capital receipts don’t affect the profit and loss of any business but revenue receipts affect the profit and loss of a company. Sales of products, and the commission received are examples of revenue receipts. ...
Form 5500: a form used by employee benefit plans to satisfy the annual reporting requirements of the Internal Revenue Code and titles I and IV of ERISA. 401(k) plan: a type of defined contribution plan that allows employees to make pretax contributions to an account. Some plans may allow ...
From above decision of the Apex Court ,it is clear that when grants received by the corporation from government was considered as capital receipt and same grant has been distributed as non-refundable ,the nature remain the same as capital expenses and i...
Subject to any right of survivorship, on your death, and on receipt from your estate representative of legal documents and instructions acceptable to us, we will transfer the balance of the funds in your Accounts to your estate representative or permit your estate representative to operate your Ac...
…looks at aspects of life in Washington, D.C. from the perspective of an outsider, a foreigner who knows the United States well but is nevertheless intrigued, amazed, surprised, or puzzled every day by life in “The Nation’s Capital”.