Gifts received are not subject to income taxation;however the donor is subject to the gift tax rules on the making of a gift.() 相关知识点: 试题来源: 解析 正确 翻译:收到的礼品不需缴纳所得税,但是,捐赠者在制作礼品时须遵守礼品税规则。原因:接收的礼品是由赠送者承担了该商品的所得税,所以...
While taxes are presumably collected for the welfare of taxpayers as a whole, the individual taxpayer’s liability is independent of any specific benefit received. There are, however, important exceptions: payroll taxes, for example, are commonly levied on labour income in order to finance ...
The first major rule which every person should know is that there is no tax to be paid on gifts received (cash or kind), if the amount of the gift is upto Rs 50,000 in a year. However if the total amount crosses Rs 50,000 . Then you will have to pay the tax on the total am...
Any gifts received from family members and/or close relatives are exempt from PIT. Family members are spouses, parents and children, adopted children and adopters. Close relatives are relatives in the direct ascending and descending lines, namely parents, grandfathers and grandmothers,...
individual income tax: a tax based on the income, of all forms, received by individuals marginal tax rates: the tax one pays on the higher income one earns; see tax bracket payroll tax: property taxes: proportional tax: regressive tax: tax bracket:...
A monologue on the taxation of business giftsJensen, Erik M.Brigham Young University Law Review
• Payments on the termination of employment, and other lump sums received by employees. 2. Income from employment • Optional remuneration arrangements a) Recognise the factors that determine whether an engagement is treated as employment or self-employment.[2] b) Recognise the basis of ...
The quitclaim deed must note the received payment, and this payment will be taxed to the grantor. Quitclaim deeds do not allow the transfer of ownership of any possessions on the property. When to Use a Quitclaim Deed vs. a Deed of Gift...
Scholarships, discounts and cashbacks received by retail customers and certain income received by individuals renting a room within their residence are also exempt. Having determined the taxable income from all sources, these are added together and deductions are given for interest paid on certain ...
However, the double taxation argument often refers to when a taxable entity pays taxes on money received, which is then given to other entities, usually individuals, who also must pay taxes on the money. When a corporation earns income, then distributes it to shareholders, the corporation pays...