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Advanced Tax laws And Practice Income Under Head Other Sources Income Under Head Other Sources (IFOS)   One of the five heads of income payable under the Income-tax Act 1961 is income from other sources. Any income not covered by the other four heads of revenue is taxable on the basis of income from other sources and is also known as the residual head of revenue. All wages, capital gains, household property or company & occupation (PGBP) excluded profits are included in IFOS, except those exempted under the Income Tax Act.   Profits of a dividend other than the dividend referred to in section 10 (34). Money gained from winning lotteries, crossword puzzles, races, gambling or betting of some sort (including horse races), even though the assessee claims to gain such profits from dealing in such activities. Money or movable/immovable property obtained during the previous period without consideration or insufficient consideration Interest earned on compensation or increased compensatio

Overtime & Overtime wages for Cost and Management accounting   Work carried out in excess of a basic workday by an employee or worker (typically 8 hours a day, 5 days a week) as specified by the Factories and Shop Establishment Act. It has also defined the overtime rate and maximum overtime hours.   Overtime is outside the usual working hours that staff spend doing the additional job or finishing the unfinished job. Overtime wages are the amount owed to the worker for the additional time expended on additional and/or unfinished work by the worker.   Reasons people end up working overtime   Too much work. To meet overload. Rush orders or Special orders or urgent orders. Scheduling more production. For making up the time lost due to unavoidable reasons.   Disadvantages of Overtime Cost of Overtime: The expense of premium overtime rate Inefficiency: If employees slacken their pace of work in order to qualify for overtime Health of Employees: Regular long working hours, which can adv

This  video lecture  is a tutorial or  basic guide of MS Word for beginners . You will get to know everything about MS Word-like the uses, features, etc.  MS Word  is the most widely used program of  Microsoft Office Suite ,  MS Word  is a word processor developed by  Microsoft . Subscribe to our YouTube Channel –  Takshila Learn Visit our Website – @ Takshila Learning.com Know more about – School Online Classes School-Live Classes Prepare   school online class  with our   School   video lectures  and  Interactive Online   Live Classes Here , at  Takshila  Learning , we have designed the  best online python course  and for various other Courses , such as School from K- 12, Professional Courses, i.e., CA / CS Online Classes / CMA Course online / IFRS , Skill Development courses, i.e., Digital Marketing Course , Competitive Exams, i.e., SSC/  Online bank coaching  /Railways.

Linear Regression and Correlation: Paper-3 of the CA Foundation Correlation is a calculation in the account and venture businesses that determines how far two defenses shift according to each other. Relationships are used in the executives' cutting-edge portfolio, known as the relation coefficient, which has a value that must fall between 1.0 and + 1.0.0.   Correlation is a metric that determines how often two variables change according to each other. In addition, the correlation will measure the creation of inventory with that of a benchmark file, such as the S&P 500. Correlation estimates affiliation but does not indicate whether x causes y or the other way around, or whether a third, maybe inconspicuous, factor causes the affiliation.   A correlation or simple linear regression analysis can decide if the two numeric variables have a significant correlation. A correlation analysis offers details about the intensity and direction of the linear relationship between two variable

What is the difference between Economics and Business Economics?   Economics is sociology that deals with the production, dispersion, and use of products and businesses. It focuses on how decisions on how to distribute assets are decided by individuals, organizations, governments, and countries. Aspects of economics focus on people's behaviors, in the light of expectations that individuals show level-headed actions when searching for the most ideal degree of gain or utility. The framework squares of aspects of economics are the function and trade investigations. Since there are numerous potential utilizations of human work and a wide range of approaches to get assets, it is the assignment of economics matters to figure out which strategies yield the best outcomes.   Aspects of economics can typically be divided into macroeconomics, which focuses on the overall conduct of the economy, and microeconomics, which focuses on separate individuals and organizations. Economics concerns ar

What is the Meaning of Legal Aptitude? CSEET Paper 2 This first part of Legal Aptitude introduces the major legal aspects that are from our Constitution of India and also from certain Business and Commercial legislations. In-Law entries, the Legal Aptitude section tests the legal "reasoning," not legal "knowledge." Legal Reasoning questions concentrate on legal proposals, where a collection of facts are given along with a theory of law. The facts must be applied to the given principle.   What are the Important Topics of CSEET Paper 2 1. Legal Aptitude and Logical Reasoning - This paper is likewise divided into two parts – Legal Aptitude and Logical Reasoning. Each part consists of 25 marks. Candidates can refer to the topics of both the parts which is mentioned below: Elements of General Laws (Indian Contract Act and Law of Torts) Elements of Company Secretaries Legislation Elements of Company Law Questions of Fact (or factual issues) Questions of Law (or legal

How long is the CS Course and Who can do CS? CS Course in India-A related task in an association is the Business Secretary (CS) or Corporate Secretary (CS) or Secretary. It is the senior office in the organization of a private or public area. The legal activities of every corporation are handled by the secretary of the organization. A secretary of an entity is responsible for maintaining the documents, guidance, appraisal forms and assessing the lawful sections of the group. The secretary of the association is a customary one, assisted by the governing body and administrative staff. In any event, the company technique has currently been altered and the CS's function has been extended. As traditional assistance to the administrator and chiefs, the company secretary fills in.   The secretary of the company deals with the association's corporate management and legitimate problems as an extra job. A company secretary is aware of the association's administration, maintaining leg

Company Law CS Executive Programme Investments, guarantees and protection,inter-corporate loans, related party transactions An overview   In the field of inter-corporate loans, acquisitions, guarantees and security under Section 186 and related party transactions under Section 188, the Companies Act, 2013 has incorporated abundant amendments. We will have to refer to the regulations and old provisions when and where to distinguish the purpose and extended scope in order to understand its applicability and substantial coverage allowed by the new legislation.   What are Inter-Corporate Loans, Investments, Guarantees, and Security – Section 186 Section 372A, under the Companies Act, 1956, deals with Inter-Corporate Loans and Investments. In the growth of industries, Inter Corporate Loans and Investment plays a critical role as it identifies and formulates the flow of funds for the company or associates or other companies in need of those funds. In order to invest in a way that should turn

The corona epidemic worries students with anxiety as they prepare for board exams. Lack of classroom learning, teachers, and a regular study schedule increased students’ stress. The efforts of the  CBSE Board  to reduce the syllabus of the  2021 Board Examination  are futile as many learners have a vague understanding of the low syllabus. Follow these tips and we guarantee that no one can stop you from getting a high score on the board exam. Today's video is for all the students who are going to appear for their Boards Exams - Class 10th and 12th. This video helps you by giving some Last Minute Tips for Board Exams : Points which are covered in this video - 1) What you should focus on? 2) Time Management 3) Physical Activity 4) Parent-child Relationship 5) Technology - Yes or No 6) Attempt previous year’s unsolved papers To help you in the preparation Takshila Learning provides the best Live Online Classes for All Classes - Preschool - 12th. Here at Takshila Learning, we pr

( Paper 2 in LEGAL APTITUDE AND LOGICAL REASONING-CSEET) A fascinating thing to deal with is the Rule of Tort. While not a complicated statute, it requires some knowledge of the demarcation between tort law and other wrongs. Now that we are part of the CS Executive Entrance Test (CSEET) consisting of questions of objective type/multiple choice, let us look at tort law from a similar point of view where we learn torts in a more granular form. Tort Meaning Tort – means a civil wrong. The word tort is the French equivalent of the English word wrong. The word “Tort” is derived from the Latin word “Tortum” which means twisted.   In general Tort, the meaning is a civil wrong that causes a claimant to suffer loss or harm resulting in legal liability for the person who commits the wrongful act.   Parties – There are 2 parties in a Tort   a. Plaintiff- is a person who sustains an injury or suffers loss as the result of the wrongful act. The aggrieved/injured party.   b. Tort Feasor– is a pers