If person A and B have incomes in the ratio 7:5 and expenditure in the ratio 3:2 and each one of them saves rs R, then what is the income of A?
Solution:Consider incomes of A = 7xand that of B= 5xConsider expenditure of A = 3yand that of B= 2yNow Savings = Income - ExperndituresAs it is given that both of them Save Rs ‘R’ so their savings is equalSavings of A = Saving of B7x - 3y = 5x - 2y2x = y …………………… 1Now Savings of A = 7x - 3y = RSubstituting value of y = 2x from 17x - 3*2x = R7x - 6x = Rx = Ry = 2RNow we can get income of A in terms of R which isIncome of A = 7R
In India, how much of the revenue is coming from income taxes? What percentage of that is contributed from different sectors, like government employees, private employees, or business people?
1. The number of tax payers has increased by 25 percent since fiscal 2011-2012, the year 2014-15 saw a rise to 5 crore tax payers from 4 crore registered income tax payers three years ago.2. Despite the growth in number of income tax payers, the growth rate in the income tax has shown a steady fall. The growth rate registered in 2010-11 was 18 percent, which is almost three times the growth rate recorded in 2014-15 i.e. 6.7 percent.3. The direct tax collected in 2015-16 amounted to Rs 7.42 lakh crore in comparison to Rs 4.46 lakh crore collected in 2010-114. Only one percent of the total Indian population paid tax for assessment year 2012-13, but 5,430 individuals paid more than Rs 1 crore as direct tax.5. The three individuals in the top-bracket of Rs 100-500 crore paid a total tax of Rs 437 crore, which raises the average tax outgo to Rs 145.80 crore6. A total of 17,515 individuals registered a salary range of Rs 1-5 crore, whereas only six individuals fell in the high-end earning bracket of Rs 50-100 crore of salary income7. According to the data disclosed by the income tax department, around 1 lakh individuals, who filed return for 2011-12, showed nil income.8. The report suggests that 4.28 lakh return filers had an income that was more than Rs 20 lakh in the year 2011-12.9. In the same period, a total of Rs 3.89 lakh crore was accounted as direct tax. Around 66 percent of the amount ( Rs 2.56 crore) was sourced from 21,819 entities. These 21,819 entities accounted for only 0.07 percent of the total 311 lakh return filers10. Maharashtrais credited with the highest collection of direct tax which also includes corporate tax. The state registered a total of Rs 2.77 lakh crore in taxes which was followed by Delhi that registered a total of Rs 91,274 crore. Delhi was followed by Karnataka, Tamil Nadu and Gujarat respectively.
What is the consolidated net income in each of these two years?
On Jan. 1, 2009 ABC Inc. acquired 90 percent of XYZ Inc. in exchange for $1,125,000 fair value consideration. The fair value of XYZ Inc. was assessed at $1,200,000. ABC computed annual excess fair value amortization of $8,000 based on the difference between XYZ's total fair value and its underlying net asset fair value. The subsidiary reported earnings of $70,000 in 2009 and $90,000 in 2010 with dividend payments of $30,000 each year. Apart from its investment in XYZ, ABC had income of $220,000 in 2009 and $260,000 in 2010. a.) What is the consolidated net income in each of these two years? b.) What is the noncontrolling interest balance as of Dec. 31, 2010?
Does raising Personal Income Taxes increase or decrease revenues?
Well, done, you should be ashamed. You used numbers and sources and scared away all the Rhetoric Mongers and Haters. I use the same approach, baffle 'em with specifics and facts, it works. Now why can't Republican Politicians learn to do that, rather than rant about Abortion and HOT Topics? We need to flood them with IRS facts and figures.
What is the average salary for a 25 year old male in America and/or Florida?
Household Income and Earnings of Workers Note: The following estimates of 1989 median household income in 1999 dollars are based on the Consumer Price Index (CPI-U-RS) values in the 1990 Demographic Profile, Table DP-3, footnote 4. The CPI-U-RS values were revised by the Bureau of Labor Statistics in April 2002 after production started on the Demographic Profile tables. Using the revised values would lower the inflation-adjusted estimates of 1989 median household income presented below by 0.5 percent. Median household income in Florida in 1999 was $38,800, up from $35,900 in 1989. (These data are in 1999 dollars to adjust for the effect of inflation). Median household income (in 1999 dollars) in Brevard County was $40,100 in 1999, not significantly different from $39,800 in 1989. Median household income (in 1999 dollars) in Melbourne was $34,600 in 1999, not significantly different from $33,800 in 1989. Median household income (in 1999 dollars) increased between 1989 and 1999 in Orange County (from $39,500 to $41,300). Median household income (in 1999 dollars) rose also between 1989 and 1999 in Orlando (from $34,100 to $35,700). * Among households in Florida in 1999, 30.8 percent had incomes less than $25,000, 31.6 percent had incomes of $25,000 up to $50,000, 27.2 percent had incomes of $50,000 up to $100,000, and 10.4 percent had incomes of $100,000 or more.