Tax on personal income (PIT) - is the main type of direct taxes. This tax is calculated in percentage terms of the total income of individuals less documented expenses in accordance with applicable law.
For 2009, if you're Single with no dependents and income of less than $5,000, then you're not required to file. You'd be required to file if your income were at least $9,350. If income tax were withheld from you earnings in 2009, then you should file for a refund of all federal income tax withheld. Your income is zeroed out by your standard deduction of $5,700 plus your personal exemption of $3,650.
Like all taxes, you pay estimated payments before (in this case withholding like on your pay) and at "income tax time" you determine what you ultimately owe. If more estimated were made than need, it is refunded, if less, you pay more. (Plus penalty and interest). Estimated payments are mandatory.
Before tax income is gross income less allowable deductions and rebates = assessable income. After tax income is assessable income less the applicable income tax
Generally if your gross income stays the same and the government raises taxes, it decreases your net personal income. On the macro scale, as government raises taxes, most people's net personal income decreases, which means their disposable income also decreases. Since their disposable income decreases, they spend less (unless they want to just get deeper in debt), which further decreases the gross income of those they buy goods and services from with their disposable income. This can actually lead to a decrease in total tax revenue as the gross incomes of the population can drop a greater percentage than the increased percentage of the taxes; 40% of $80,000 is only $32,000 while 35% of $100,000 is $35,000.
Gross income could be considered revenue. In business, revenue is received payments. Profit is revenue less expenses and cost of goods sold, if applicable.
A diversified portfolio combined with keeping total personal spending less than total personal disposable income.
Tax on personal income (PIT) - is the main type of direct taxes. This tax is calculated in percentage terms of the total income of individuals less documented expenses in accordance with applicable law.
A surplus on the current account of its balance of payments (and a matching deficit on the capital account). These are not to be confused with fiscal surplus or budgetary surplus since they are concerned with only Government expenditure and Income. And the correct word is "than" not "then".
For 2009, if you're Single with no dependents and income of less than $5,000, then you're not required to file. You'd be required to file if your income were at least $9,350. If income tax were withheld from you earnings in 2009, then you should file for a refund of all federal income tax withheld. Your income is zeroed out by your standard deduction of $5,700 plus your personal exemption of $3,650.
less than the data transfer rate
Before tax income is gross income less allowable deductions and rebates = assessable income. After tax income is assessable income less the applicable income tax
Like all taxes, you pay estimated payments before (in this case withholding like on your pay) and at "income tax time" you determine what you ultimately owe. If more estimated were made than need, it is refunded, if less, you pay more. (Plus penalty and interest). Estimated payments are mandatory.
name, address, soc security number(s), child(ren), income, deductions, payments, and (hopefully) the rebate or (less hopefully) the tax due.
Tax deduction at source (TDS) means that specified taxes are deducted from the recipient's income by the payer prior to payment. According to the India Income Tax Act, TDS must be done on such income as salaries, interest, dividends, rents, fees for professional and technical services, etc. In this way the payments to the recipient are net income (gross income less taxes).
Income less Expenses
gross income less expenses