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Expenditure Tax
The Expenditure Tax Act, 1987 is an Act of the Parliament of India. It applies to any charges incurred by an individual and in the event that these charges are implied to be chargeable expenditure. The Act is applicable to all the States and Union Territories in India. History The expenditure tax was first introduced by T. T. Krishnamachari (then Finance Minister) in 1957. After being abolished in 1962 by Morarji Desai, it was brought again in 1964. It was finally abolished in 1966 after which Chaudhary Charan Singh tried to bring it again in 1979 but failed. Expenditure Tax Act The Expenditure Tax Act, 1987 governs the taxation process associated with the chargeable expenditure incurred by an individual in a certain hotel or restaurant. The Act applies to chargeable expenditure provided the following criteria are fulfilled # If the charges are incurred in a hotel where the room charges for an accommodation is INR 3000 per day or in excess of this amount # The charges are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Parliament Of India
The Parliament of India (International Alphabet of Sanskrit Transliteration, IAST: ) is the supreme legislative body of the Republic of India. It is a bicameralism, bicameral legislature composed of the president of India and two houses: the Rajya Sabha (Council of States) and the Lok Sabha (House of the People). The president in his role as head of the legislature has full powers to summon and prorogue either house of Parliament or to dissolve the Lok Sabha. The president can exercise these powers only upon the advice of the prime minister of India, prime minister and his Union Council of Ministers. Those elected or nominated (by the president) to either house of Parliament are referred to as member of Parliament (India), members of Parliament (MPs). The member of Parliament, Lok Sabha, members of parliament of the Lok Sabha are direct election, directly elected by the Indian public voting in single-member districts and the member of Parliament, Rajya Sabha, members of parliam ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Act Of Parliament
Acts of Parliament, sometimes referred to as primary legislation, are texts of law passed by the Legislature, legislative body of a jurisdiction (often a parliament or council). In most countries with a parliamentary system of government, acts of parliament begin as a Bill (law), bill, which the legislature votes on. Depending on the structure of government, this text may then be subject to assent or approval from the Executive (government), executive branch. Bills A draft act of parliament is known as a Bill (proposed law), bill. In other words, a bill is a proposed law that needs to be discussed in the parliament before it can become a law. In territories with a Westminster system, most bills that have any possibility of becoming law are introduced into parliament by the government. This will usually happen following the publication of a "white paper", setting out the issues and the way in which the proposed new law is intended to deal with them. A bill may also be introduced in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Minister Of Finance (India)
The Minister of Finance (Vitta Mantrī ) (or simply, the Finance Minister, short form FM) is the head of the Ministry of Finance of the Government of India. One of the senior offices of the Union Cabinet, the finance minister is responsible for the fiscal policy of the government. A key duty of the Finance Minister is to present the annual Union Budget in Parliament, detailing the government's plan for taxation and spending in the coming financial year. Through the Budget, the finance minister also outlines allocations to all the ministries and departments. The Minister is assisted by the Minister of State for Finance and the junior Deputy Minister of Finance. There have been a number of Ministers of Finance that went on to become the Prime Minister; Morarji Desai, Charan Singh, Vishwanath Pratap Singh and Manmohan Singh and also to serve as the President; R.Venkataraman and Pranab Mukherjee. Several Prime Ministers have also gone on to hold the position of Minister of Finance. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Morarji Desai
Morarji Ranchhodji Desai (29 February 1896 – 10 April 1995) was an Indian independence activist and politician who served as the 4th Prime Minister of India between 1977 to 1979 leading the government formed by the Janata Party. During his long career in politics, he held many important posts in government such as Chief Minister of Bombay State, Home Minister, Finance Minister and 2nd Deputy Prime Minister of India. Following the death of Prime Minister Lal Bahadur Shastri, Desai was a strong contender for the position of Prime Minister, only to be defeated by Indira Gandhi in 1966. He was appointed as Deputy Prime Minister (as Minister of Finance) in Indira Gandhi's cabinet, until 1969. When Indian National Congress split in 1969 he became a part of the INC (O). After the controversial emergency was lifted in 1977, the political parties of the opposition fought together against the Congress (I), under the umbrella of the Janata Party, and won the 1977 election. Desai w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Charan Singh
Chaudhary Charan Singh (23 December 1902 – 29 May 1987) served as the 5th Prime Minister of India between 28 July 1979 to 14 January 1980. Historians and people alike frequently refer to him as the 'champion of India's peasants.' Charan Singh was born on 23 December 1902 in a rural peasant Hindu Jat family of the Teotia clan of village Noorpur, United Provinces of Agra and Oudh. Charan Singh entered politics as part of the Indian Independence Movement motivated by Mahatma Gandhi. He was active from 1931 in the Ghaziabad District Arya Samaj as well as the Meerut District Indian National Congress for which he was jailed twice by the British. Before independence, as a member of Legislative Assembly of the United Provinces elected in 1937, he took a deep interest in the laws that were detrimental to the village economy and he slowly built his ideological and practical stand against the exploitation of tillers of the land by landlords. Between 1952 to 1967, he was one of "thre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Daily O
Daily or The Daily may refer to: Journalism * Daily newspaper, newspaper issued on five to seven day of most weeks * ''The Daily'' (podcast), a podcast by ''The New York Times'' * ''The Daily'' (News Corporation), a defunct US-based iPad newspaper from News Corporation * ''The Daily of the University of Washington'', a student newspaper using ''The Daily'' as its standardhead Places * Daily, North Dakota, United States * Daily Township, Dixon County, Nebraska, United States People * Bill Daily (1927–2018), American actor * Elizabeth Daily (born 1961), American voice actress * Joseph E. Daily (1888–1965), American jurist * Thomas Vose Daily (1927–2017), American Roman Catholic bishop Other usages * Iveco Daily, a large van produced by Iveco * Dailies, unedited footage in film See also * Dailey, surname * Daley (other) * Daly (other) Daly or DALY may refer to: Places Australia * County of Daly, a cadastral division in South Australia * Daly ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income Tax
An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable income. Taxation rates may vary by type or characteristics of the taxpayer and the type of income. The tax rate may increase as taxable income increases (referred to as graduated or progressive tax rates). The tax imposed on companies is usually known as corporate tax and is commonly levied at a flat rate. Individual income is often taxed at progressive rates where the tax rate applied to each additional unit of income increases (e.g., the first $10,000 of income taxed at 0%, the next $10,000 taxed at 1%, etc.). Most jurisdictions exempt local charitable organizations from tax. Income from investments may be taxed at different (generally lower) rates than other types of income. Credits of various sorts may be allowed that reduce tax. Some jurisdicti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Expenditure
An expense is an item requiring an outflow of money, or any form of fortune in general, to another person or group as payment for an item, service, or other category of costs. For a tenant, rent is an expense. For students or parents, tuition is an expense. Buying food, clothing, furniture, or an automobile is often referred to as an expense. An expense is a cost that is "paid" or " remitted", usually in exchange for something of value. Something that seems to cost a great deal is "expensive". Something that seems to cost little is "inexpensive". "Expenses of the table" are expenses for dining, refreshments, a feast, etc. In accounting, ''expense'' is any specific outflow of cash or other valuable assets from a person or company to another person or company. This outflow is generally one side of a trade for products or services that have equal or better current or future value to the buyer than to the seller. Technically, an expense is an event in which a proprietary stake is dimi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Indian Tax Legislation
Indian or Indians may refer to: Peoples South Asia * Indian people, people of Indian nationality, or people who have an Indian ancestor ** Non-resident Indian, a citizen of India who has temporarily emigrated to another country * South Asian ethnic groups, referring to people of the Indian subcontinent, as well as the greater South Asia region prior to the 1947 partition of India * Anglo-Indians, people with mixed Indian and British ancestry, or people of British descent born or living in the Indian subcontinent * East Indians, a Christian community in India Europe * British Indians, British people of Indian origin The Americas * Indo-Canadians, Canadian people of Indian origin * Indian Americans, American people of Indian origin * Indigenous peoples of the Americas, the pre-Columbian inhabitants of the Americas and their descendants ** Plains Indians, the common name for the Native Americans who lived on the Great Plains of North America ** Native Americans in the U ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Acts Of The Parliament Of India 1987
The Acts of the Apostles ( grc-koi, Πράξεις Ἀποστόλων, ''Práxeis Apostólōn''; la, Actūs Apostolōrum) is the fifth book of the New Testament; it tells of the founding of the Christian Church and the spread of its message to the Roman Empire. It gives an account of the ministry and activity of Christ's apostles in Jerusalem and other regions, after Christ's death, resurrection, and ascension. Acts and the Gospel of Luke make up a two-part work, Luke–Acts, by the same anonymous author. It is usually dated to around 80–90 AD, although some scholars suggest 90–110. The first part, the Gospel of Luke, tells how God fulfilled his plan for the world's salvation through the life, death, and resurrection of Jesus of Nazareth. Acts continues the story of Christianity in the 1st century, beginning with the ascension of Jesus to Heaven. The early chapters, set in Jerusalem, describe the Day of Pentecost (the coming of the Holy Spirit) and the growth of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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