Income tax act is such an enactment where the person who earns income have to pay tax to the government. Based on various committee recommendations and considering practical situations as well inflation, economic development the government provides minimum exemption limit and various slabs of taxation. It is normal that the assessee can claim deduction for…
Mutual assistance and service are the objectives as distinguished from the aim of the other forms of organization, which is primarily making of profit. It aims at encouraging self-help on the part of economically weaker sections of the society by looking after a truly cooperative society is the elimination of profit and provision of goods…
Q.1 The _______ is being driven by the demand and supply of products and services. a) Market economy b) Capitalist economy c) Both a & B d) Socialist Economy Ans -c Q.2 India is the best example of[1]a) Market Economy b) Capitalist economy c) Mixed Economy d) Socialist Economy Ans- c Q. 3Which of the…
SEXUAL HARASSMENT – WHETHER PHYSICAL HARASSMENT IS NECESSARY? Apparel Export Promotion Council v. A.K. Chopra, AIR 1999 SC 625 FACTS IN BRIEF:- The respondent was removed from his post as an employee of the appellant Apparel Export Promotion council after the relevant disciplinary authorities found him guilty of sexually harassing X, a junior female employee.…
A private company limited by shares is a class of private limited company incorporated under the section 2(68), Companies Act, 2013.It has shareholders with limited liability and its shares may not be offered to the general public, unlike those of a public limited company. “Limited by shares” means that the liability of the shareholders to…
1. Easement is a right (a) in rem. (b) in personam. (c) neither (a) nor (b). (d) in rem in general but in personam in exceptional cases Ans(a) 2. Damages awarded for tortious liabilities are – (a) liquidated. (b) unliquidated. (c) penal. (d) none of these. Ans (b) 3. Defamation by spoken words or gestures…
1) In an election the votes between the winner and loser candidate are in the ratio 5:1. If total number of eligible voters are 1000, out of which 12% did not cast their vote and among the remaining vote 10% declared invalid. What is the number of votes the winner candidate get? A. 620 B. 630 C. 640…
1. Regarding Budget 2021 choose the correct statement i) India’s fiscal deficit is set to jump to 9.5 per cent of Gross Domestic Product in 2020-21 ii) No tax reforms have been brought this year a) Only i b) Only ii c) Both i and ii d) None of the above Ans. a 2. Regarding Agri-infra cess imposed in…
India and Japan To boost cooperation in the field of Information & Communication Technology (ICT) which includes 5G technologies, Smart Cities, Telecom Security among others. The Agreement was signed by Ravi Shankar Prasad, Union Minister for Communications on behalf of India & Takeda Ryota, Minister for Internal Affairs, Japan on behalf of the Japanese side.…
Disinvestment Investing and disinvesting is the two sides of coin on long term investments by governments and corporates. Investing is when a government and corporates invests in money in future prospective ventures. Governments usually invests in public friendly opportunities, which may not yield any monetary profit in the short run. These projects over a time…
