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Showing posts from October, 2022

Property Law and Income Taxation

 Income Tax Taxpayer (TP) and Income to tax 1. Person to tax 2. That person's ownership over the property used to earn (labor and windfall gain??) 3. Difference in ownership over such properties at the year end and the year beginning (incremental ownership) 4. Assign the value over such properties owned  Realization of incremental ownership over property : 1. By sale and disposal of inventories 2. Disposal of Non-Business chargeable assets (NBCA)/ Business Assets (BA)/ Business Liabilities (BL) 3. Pool disposal of Depreciable assets Interaction of complex property law and income taxation: - only those rights which entails economic benefits  - complexity arises when those economic benefits are separable like in case of lease, taxpayer transfer only the right to use such properties     -TP's initial ownership and final ownership is same (in case of operating lease) with different values of the leased assets     - but the rent income grant ownership over ...

Indra the Source of Morality

 I was amazed by knowing that respected and worshiped Kul devata "Masto dev"of Khas people as having connection to the lord of Gods Indra devata. This relation is disputed as some establish him as son of Indra who is also the protector of Vedas and some establish that he is Anuj/brother of the Indra dev namely Vishnu, the youngest among devatas. Fact that in Sinja they call him by lama Vishnu seem to establish as vishnu but establishing relationship with 9 respected and worshiped Vawanis may be difficult. Whatever may be the relation, like in every major tradition, either of Upanishadic tradition of debate or Hearing words of God tradition of Khasas or Persian tradition of Ahur Majda or Zeus of Greeks or the Father of Jesus everybody has one that requires laws/dharma to be followed.  These laws/dharma are not man made dharma, they are what is suitable for mankind and their continuity. Excepting to some outdated tradition, modern morality seems to be written in lesser quantity...