change in tax legislation over the years may be drawn from the following table that notes the development of some selected provisions from the Act of 1936 to what would now be recognised as statutory income in the Act of 1997. 2 (Those in bold type are yet to be ...
Section 50C of income tax act 1961 introduced vide Finance Act. 2002 w.e.f. 01.04.2003, which prescribes similar provisions in the case of transfer of land or building or both held in the nature of ‘Capital Assets'. (From assessment year 2003-2004). SECTION 50C (1)- provides that...
able to invest in any income-producing security around the globe across sectors and issuers in order to identify the best relative value opportunities. Our collaborative process combines top-down macroeconomic considerations with deep, fundamental credit research for a comprehensive assessment of risk and...
Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) sets out the requirements for financial institutions to implement AML/CTF programs, which include customer due diligence, ongoing monitoring and suspicious matter reporting (Eulaiwi et al., 2021; Federal Register of Legislation, 2007)...
allowing ACs to set tax rates and establish tax credits and allowances in IP and ISD (among other taxes).[3]Powers over the IP correspond to the AC of residence of the owner of the taxed wealth. Spanish legislation considers that individuals reside in a certain AC when they stay there fo...
Assessment of Income From House Property Section 4 of the Income tax Act 1961 (Act hereinafter) provides for charge of income tax. However, this section by itself does not create any liability. It has been observed by the Supreme Court in CIT Vs. K. Srinivasan (1972) 83 ITR 346-351 tha...
Assuming that working hours legislation or collec- tive bargaining could make dropping one's hours a real possibility for workers—and also assuming that managerial authority over non-work time could be adequately protected against—this would be a valuable strategy for reducing domination. 15 For...
Specialist in Social Legislation Domestic Social Policy Division Evelyne Parizek Baumrucker Analyst in Social Legislation Domestic Social Policy Division Congressional Research Service˜The Library of Congress Reaching Low-Income, Uninsured Children:
Economic theory predicts that employment can be increased by either subsidizing employers (with a hiring tax credit or a wage subsidy) or employees (through an EITC or another worker subsidy). Both types of policies have been used in the USA, at both the federal and state levels. These somet...
Second, effective tax rates reflect tax legislation that incentivizes and potentially reduces taxable income. A company or individual may be interested in measuring the actual tax they paid against the actual taxable income they report. Barring a prior-year assessment or catch-up liability, ...