Business

Income tax is a typical example of a direct tax. The tax imposed on a person or entity under the orbit of income tax law…

Distinguish between Non-assessable Income, Tax Credit Income, and Tax-Free Income Non-assessable Income is income you don’t need to pay tax on. A tax credit is…

Income means what comes in the hand of a person in terms of money or money’s worth as a result of mental, physical and financial…

Arguments for and Against Income Tax An income tax is a government tax on the taxable profit earned by an individual or corporation. It is…

The Effect of different Classes of Income on Assessment An income tax is a government tax on the taxable profit earned by an individual or…

Rules of Perquisite Perquisite is a casual emolument or benefit attached to an office or position in addition to salary or wages which is availed…

Perquisite is a casual emolument or benefit attached to an office or position in addition to salary or wages which is availed by an employee.…

Tax: The word “taxation” comes from Latin word “Taxio”. It means to determine the payable quantum on the estimate. So, a tax is the revenue collected…

The term expectation gap is defined as a gap between the expectation of users of assurance reports, particularly of audit report under the companies act…

Scope Limitation is the fact that the scope of the audit is limited in some way, e.g. owing to restrictions beyond the client’s control. In…