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CPT Chapter National Income and Tax System

CA CPT Exam  

With Jaya Wahal.Duration:1hrs 53min

National Income & Tax StructureDuration (min:sec)
National Income 
Introduction to National Income05:41
Basic Terms00:22
Summary of Basic Terms & Quiz08:14
Methods of Measuring NI18:28
Trends in NI02:55
Quiz09:32
Summary01:33
Tax 
Introduction01:14
What is Tax06:09
Merits of DT & IDT10:26
Tax Structure in India16:17
Features of Tax Structure03:03
Evaluation of Tax Structure01:59
Quiz03:33
Conclusion01:18
Total01:53:10

Methods of Measuring National Income
Income Method-
Rents, wages and Salaries, Interest and Profits and composite income

Expenditure Method-
Consumption expenditure
Investment expenditure

Examples-

As per the Value Added Method of measuring national income identify which of the following item is excluded?
(a) Brokerage and Commission earned by dealers of second hand goods
(b) Sale of second hand machines
(c) Production for Self Consumption
(d) Imputed rent of owner occupied houses

Value added method is used to measure______
(a) National Income
(b) Domestic Income
(c) Gross Income
(d) Personal Income

The production method of calculating national income is also known as
(a) Value added method
(b) Income method
(c) Expenditure method
(d) None of the above

Transfer payments refer payments, which are made :
(a) Without any exchange of goods and services
(b) To workers on transfer from one job to another
(c) As compensation to employees
(d) None

Transfer payments refer payments, which are made :

(a) Without any exchange of goods and services
(b) To workers on transfer from one job to another
(c) As compensation to employees
(d) None

National Income differs from Net National Product at market price by the amount of :
(a) Current transfers from rest of the world
(b) Net Indirect Taxes
(c) National debt interest
(d) It does not differ

Net national product at factor cost is also known as :
(a) Net Domestic product
(b) Gross National product
(c) National Income
(d) Personal Income

GNP = GDP +_______
(a) Depreciation
(b) Indirect taxes
(c) NFIA
(d) Subsidies

Which of the following represents National Income?
(a) GDP at factor cost
(b) NDP at factor cost
(c) NNP at market price
(d) NNP at factor cost

GDP at factor cost is equal to GDP at market price minus _____ plus subsidies.
(a) Direct taxes.
(b) Indirect taxes.
(c) Foreign loans.
(d) Depreciation.

Trends in National Income Growth & Structure-
Trends in NNP
Trends in per capita income


Notes

 National Income

Index
National income
Basic concept in National income and output
Methods of Measuring National Income
Trends in National Income Growth and Structure

Basic concept in National income and output

Gross national product
Net national product
NNP at factor cost or National income
Personal Income
Personal Disposal Income
Gross domestic product
GDP at constant prices and current prices
GDP at factor cost and GDP at Market price
Net domestic product

Tax System

Index
What is Direct & Indirect tax?

Merit and Demerits of Direct and Indirect taxes
Tax structure in India
Features of tax structure in India
Evaluation of tax structure in India

What is Direct and Indirect tax

Tax: Compulsory Contribution
Direct Tax: Incidence falls on persons who pay it
e.g. Income tax, Wealth tax
Indirect Tax: Incidence is shifted through a change in price
e.g. Sales tax, Custom, Excise Duty

 


CPT Exam Exposure-National Income

CPT Exam Exposure-Tax System

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