define gross income. explain id detail the various aspects of gross income. state four offences normally committed by employers and the penalties charged as per tax laws
Creation Of An Agency
The term contract can be defined as an agreement which is legally binding exists between two parties. This document provides the powers & duties to be performed by both the parties to the contract. An agreement can become a contract only when it satisfies the legal requirements. Hence the parties in this contract can enter into the contract either by themselves or through a third party. The concept of agency arises if the person enters into the contract through a third party. The third party here is called as the agent & the person on whose behalf he acts is known as the principal.
Administrative Agencies
An administrative agency is a government body which is given the authority to supervise and implement certain legislative acts. Apart from the term agency, they are also referred by the names corporations, commissions; departments etc. a group of experts in their respective fields together form the administrative agency. Majority of the administrative agencies that has an impact on day to day activities are independent agencies.
define gross income. explain id detail the various aspects of gross income.
state four offences normally committed by employers and the penalties charged as per tax laws
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