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Concept of National Innovation Systems

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Case Study: Henry Ford’s Contributions to Organizational Behavior and Leadership

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De Bono’s Six Thinking Hats: A Creative and Critical Thinking Model

Human Resource Management

Income from House Property

The annual value of any property comprising of building or land attached to the vicinity of the building of which the assessee is the owner, is chargeable to tax under the head income from house property. But if the assessee occupies the building or land attached to the vicinity of the building for the purpose of business or profession carried on by him, then it is not chargeable to tax. For income to be taxed as income from house property the following points should be noted

1. Building or land attached thereto.

                              Building means a permanent constructed structure. Building includes residential house , bungalows, docks, warehouse, any block of bricks or stone work covered by a roof etc.    … Read the rest

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Income from Salary

DEFINITION

According to [Sec 17 (1)] Salary includes

                              (i)                         wages;

                              (ii)                       any annuity or pension;

                              (iii)                     any gratuity;

                              (iv)                     any fees, commissions, perquisites or profits in lieu of or in addition to any salary or wages;

                              (v)                       any advance of salary;

                              (vi)                     any payment received by an employee in respect of any period of leave not availed of by him;

                              (vii)                   the annual accretion to the balance at the credit of an employee participating in a recognised provident fund,

                                                              (viii)           the contribution made by the Central Government in the previous year, to the account of an employee under a pension scheme .… Read the rest

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Income exempt from Income Tax

Under Sec10 of income tax act the following incomes are exempt from tax

1. Agricultural Income [Sec 10(1)]

                              Income from agricultural land situated within India is exempted from tax.

2. Share income of HUF [Sec 10(2)]

                              Any sum received by an individual as a member of a Hindu Undivided Family either out of income of the family or out of income of estate belonging to family is exempt from tax.

3. Share of profit from partnership firm [Sec10 (2A)]

                              Share of profit received by partners from a firm in which they are partners is not taxable in the hands of partners.… Read the rest

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Residential status and Tax liability

The scope of total income is determined on the basis of residential status of the assessee. For the purposes of this Act, there can be three residential status. Residential status is determined on the basis Basic conditions and Additional conditions

  1. Resident and ordinarily resident
  2. Resident but not ordinarily resident
  3. Non resident.

RESIDENTIAL STATUS OF AN INDIVIDUAL

Resident and Ordinarily Resident [ROR]

                              An individual is said to be resident in India if he satisfies anyone of the basic conditions and both of the additional conditions.

Resident but Not Ordinarily Resident [RNR]

                              An individual is said to be resident but not ordinarily resident in India if he satisfies anyone of the basic conditions but does not satisfies both of the additional conditions.… Read the rest

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Introduction to Income Tax

The word tax was derived from the Latin word ‘taxore’ meaning to estimate, appreciate or value. Tax is a price which each citizen pays to the state to cover his share of the cost of the general public services which he will consume. It indirectly provides employment opportunities. Taxes are compulsory contributions imposed by the government on its citizens to meet its general expenses incurred for the common good, without any corresponding benefit to the tax payer.

In 1860, the British government firstly introduced tax in India. The present law of income tax is contained in the income tax Act,1961 as amended up to date; the income tax rules 1962 as amended up to date and finance Act passed by the parliament every year.… Read the rest

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SWOT Analysis of Hewlett-Packard (HP)

Overview of  Hewlett-Packard (HP) Company

Hewlett-Packard Company (HP) is one of the world’s largest information and technology (IT) companies. It was founded by Bill Hewlett and Dave Packard in 1939. Both of them established Hewlett-Packard (HP) in Packard’s garage which located in Palo Alto, California, USA.

First and the foremost, HP is a worlds’ leading PC manufacturer. The creation of these new technologies had brings us a more meaningful impact for the community. This company had offered many products, technologies, software, solution and service for customers, small and medium size of businesses (SMBs) and large enterprises which encompass those customers in the education, government and health sectors.… Read the rest

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