1. © 2014 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document…

1. © 2014 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document…

Learning Objectives Apply the concept of realization and explain when taxpayers recognize gross income Understand the distinctions between the various sources of income,…

Slide 1Chapter 5 Gross Income and Exclusions © 2014 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale…

BDO INDIA â INCOME COMPUTATION DISCLOSURE STANDARDS (ICDS) Client name - Event - Presentation title CONTENTS Page * A. Applicability B. ICDS III â Construction Contracts…

Income A. Gross Income 1. Economists’ concept – Haig-Simons a. Imputed income b. Accretion in value (Glenshaw Glass) 2. Tax Law concept GROSS INCOME - § 62 decductions…