Hollywood, Defined Hollywood is a physical place, a district of the city of Los Angeles, California. Hollywood is a metaphor for the American entertainment industry. Hollywood is defined as the system of the US entertainment industry revolving around the following six major companies that are part of the Motion Picture Association of America (MPAA): Paramount […]
Chapter 14: Set-off And Carry Forward Of Losses
Very Short Questions and Answers 1. What is set off a loss? Mention the methods of setting off losses? An adjustment of losses subject to the certain rules against incomes is known as set off of losses. The three methods are: Carry forward Carry backward A combination of a method 2. Briefly state the provision […]
Chapter 13: Residential Status
Very Short Questions and Answers 1. Briefly describe the situation for an individual to be a resident individual. The situation for an individual to be a resident individual is listed below: Whose normal place of abode is in Nepal. Who has resided in Nepal for 183 days or more during a continuous period of 365 […]
Chapter 12: Income From Investment
Very Short Questions and Answers 1. How an investment has been defined in the Act? Generally, investment refers to the purchase of an asset with the hope that it will generate income or appreciate in value in the future. Income Tax Act, 2058 has defined investment as an act of holding or investing one or […]
Chapter 10: Thriving in a new economy
Digital Economy Digital economy refers to an economy that is based on digital computing technologies, although we increasingly perceive this as conducting business through markets based on the internet and the World Wide Web. The digital economy is also sometimes called the Internet Economy, New Economy, or Web Economy. Digital economy is defined as an […]
Chapter 11: Capital Gain Tax
Very Short Questions and Answers 1. Define capital gain. Capital gains (or losses) are any profits or gains (losses) arising from the disposal or transfer of capital assets. Technically, it is the excess of selling price over the cost (purchase) price of capital assets. 2. List out any three assets included under non-business chargeable assets. […]
Chapter 10: Income From Business
Very Short Questions and Answers 1. Give a brief definition of business as defined in the Income Tax Act, 2058. The Act has defined business as an industry, a trade, a profession or the like isolated transaction with a business character and includes a past, present or prospective business. 2. List out two incomes excluded […]
Chapter 8: Income From Employment
Very Short Questions and Answers 1. List out any two incomes excluded from employment income. Two incomes excluded from employment income are: Meals and refreshments are provided to all employees on equal ground. Reimbursement of petty expenses relating to tea expenses, stationeries, tips, prizes and emergency medical treatment of up to Rs 500. 2. State […]
Chapter 9: Antitrust and Information Policy
Antitrust and Information Policy Antitrust refers to government policy to regulate or break up monopolies in order to promote free competition and attain the benefits that such competition can provide to the economy and to society as a whole. Since the government’s rules inevitably affect industry participants, no executive in the network economy […]
Chapter 8: Strategies for Information Industries
Cooperation and Compatibility Strategies for Competing in n/w markets. Openness strategy Open migration Discontinuity Who are allies and enemies? ‘Coopetition’ Captures the tension between cooperation and competition Establish Standards & create a single n/w of compatible users. How Standards Change the Game? 1. Expanded network externalities Enhance compatibility, interoperability Make network larger, increase value Share […]