Content writer • 1y
Arey Mubarak Ho aapki lottery lagi hai, woh bhi 1cr kii!! We call this transfer payment in economics, it means the income that a person gets without providing service/goods. We all know that all of our income is calculated in national income irrespective of the fact whether we received it or not, but here is the twist it also excludes all the transfer payments that a person receives. Secondly, we all pay taxes on our income transfer payments also, But the mystery is you will pay tax on your lottery as it's your income but it won't be counted in national income. So there you have it, a little insight upon transfer payment and taxes. Until next time!
Hey I am on Medial • 10m
While we talk about the payment gateways and payment solution providers in India, we talk about how Razorpay & PayTM revolutionized the payment industry in India and forgot to mention Juspay, the payment aggregator used by almost every company that r
See MoreContent writer • 1y
Hey there, folks! Did you know that countries have not one but three methods to calculate their national income? And each method is unique in its way. The method used to calculate a country's GDP is the Product Method, also known as the Value-Added M
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