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  1. Ans :- A Tax May be defined as a Pecuniary Burden laid upon individuals or Property owners to support the government a payment exacted by legislative authority a tax is not a voluntary payment or donation but an enforced contribution exacted pursuant to legislative Authority

    Ans :- A Tax May be defined as a Pecuniary Burden laid upon individuals or Property owners to support the government a payment exacted by legislative authority a tax is not a voluntary payment or donation but an enforced contribution exacted pursuant to legislative Authority

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  1. Individuals and HUFs can opt for the Existing Tax Regime or the New Tax Regime with lower rate of taxation (u/s 115 BAC of the Income Tax Act) The taxpayer opting for concessional rates in the New Tax Regime will not be allowed certain Exemptions and Deductions (like 80C, 80D,80TTB, HRA) available iRead more

    Individuals and HUFs can opt for the Existing Tax Regime or the New Tax Regime with lower rate of taxation (u/s 115 BAC of the Income Tax Act)

    The taxpayer opting for concessional rates in the New Tax Regime will not be allowed certain Exemptions and Deductions (like 80C, 80D,80TTB, HRA) available in the Existing Tax Regime.

     

    group2248

    For Individual (resident or non-resident) less than 60 years of age anytime during the previous year:

    Existing Tax Regime New Tax Regime u/s 115BAC
    Income Tax Slab Income Tax Rate Income Tax Slab Income Tax Rate
    Up to ₹ 2,50,000 Nil Up to ₹ 2,50,000 Nil
    ₹ 2,50,001 – ₹ 5,00,000 5% above ₹ 2,50,000 ₹ 2,50,001 – ₹ 5,00,000 5% above ₹ 2,50,000
    ₹ 5,00,001 – ₹ 10,00,000 ₹ 12,500 + 20% above ₹ 5,00,000 ₹ 5,00,001 – ₹ 7,50,000 ₹ 12,500 + 10% above ₹ 5,00,000
    Above ₹ 10,00,000 ₹ 1,12,500 + 30% above ₹ 10,00,000 ₹ 7,50,001 – ₹ 10,00,000 ₹ 37,500 + 15% above ₹ 7,50,000
    ₹ 10,00,001 – ₹ 12,50,000 ₹ 75,000 + 20% above ₹ 10,00,000
    ₹ 12,50,001 – ₹ 15,00,000 ₹ 1,25,000 + 25% above ₹ 12,50,000
    Above ₹ 15,00,000 ₹ 1,87,500 + 30% above ₹ 15,00,000
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Anonymous
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a). P & L statement b). Income statement c). Balance sheet d). Asset sheet please reply ans Read more

a). P & L statement

b). Income statement

c). Balance sheet

d). Asset sheet

please reply ans

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Anonymous
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a).  File b). Company c). Project d). Application   please reply ans Read more

a).  File

b). Company

c). Project

d). Application

 

please reply ans

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  1. Person must be in India for or more than 182 during the previous year and 365 days or more during the four years preceding the previous year.

    Person must be in India for or more than 182 during the previous year and 365 days or more during
    the four years preceding the previous year.

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Anonymous
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Q. ______ is a program that helps us to log on to other networks a). Usenet b). finger service c). ftp d). telnet Read more

Q. ______ is a program that helps us to log on to other networks

a). Usenet

b). finger service

c). ftp

d). telnet

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  1. Keeping in mind that there could be any kind of emergency that life might throw towards you, you should always be ready to deal with a financial crisis. Knowledge about the kinds of loans you can take on a property might help manage the situation quickly and efficiently. You can take two types of loRead more

    Keeping in mind that there could be any kind of emergency that life might throw towards you, you should always be ready to deal with a financial crisis. Knowledge about the kinds of loans you can take on a property might help manage the situation quickly and efficiently. You can take two types of loan against your property- a mortgage loan or a home equity loan. Let’s understand the key differences.

    DIFFERENCE IN DEFINITION

    A mortgage is a loan given by lenders on any real estate property owned completely by the borrower. It means the home has no existing hypothecation. A home equity loan is given against the owned equity of a fully constructed property. Owned equity here means the part of the property for which the loan has been paid.

    DIFFERENCE IN FEATURES

    • Rate of Interest:
      • The interest rate of a mortgage is usually lower than the home equity loan. The rate of interest of a home equity loan is usually lesser than a personal loan.

     

    • Loan Amount:
      • The loan amount in a mortgage is up to 90% of the property’s value. The loan amount in a home equity loan is based on the difference between the value of the property and the remaining mortgage balance. Individuals can apply for loans up to 60% of this net value.

     

    • Credit Score:
      A mortgage is usually offered to individuals with a good credit score. On the other hand, a home equity loan can be a good option for people with a low credit score.

    DIFFERENCE IN PROCESS

    A mortgage loan usually takes less time to process as the lenders only have to verify the property’s current market value and rightful ownership. On the other hand, a home equity loan might take longer as the lender has to derive the net value of the property by finding its current market value and the existing obligation standing against it.

    THE DIFFERENCE IN TAX BENEFITS

    The main difference between home equity loan and mortgage is the tax benefit. Mortgage offers a tax deduction on home loans under section 37(1) and section 24 to make them more affordable. However, no tax benefits are available on home equity loans.

    These are the basic differences between a mortgage and a home equity loan. If you think you require one of these to get you out of a sticky financial situation, don’t hesitate to contact your lender.

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Anonymous
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Q. URL stands for ________________________.   a). Uniform Resource Locator b). Universal Resource Locator c). Ubiquitous Resource Locator d). Useful Resource Locator Read more

Q. URL stands for ________________________.

 

a). Uniform Resource Locator

b). Universal Resource Locator

c). Ubiquitous Resource Locator

d). Useful Resource Locator

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Anonymous
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a). Journal sheet b). Voucher debtors c). Sundry debtors d). Original entry   please reply ans Read more

a). Journal sheet

b). Voucher debtors

c). Sundry debtors

d). Original entry

 

please reply ans

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Anonymous
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Q. Unix shell provides mailing programs called …. a). Pine and Elm b). Pile and Elem c). Pine and Embedd d). Port and Elm   Read more

Q. Unix shell provides mailing programs called ….

a). Pine and Elm

b). Pile and Elem

c). Pine and Embedd

d). Port and Elm

 

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Anonymous
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Q. In MS Word 2010, which of the following statements is false? a). A ruler spans on top of the Word ...Read more

Q. In MS Word 2010, which of the following statements is false?

a). A ruler spans on top of the Word document.

b). Themes have a palette of 12 colors.

c). Margins define the amount of white space that appears at the top, bottom, left and right.

d). None of the above

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