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Oct
15

Types of Personal Income /assets

Types of Personal Income or sources of personal income

Management Accounting and Finance management in Shukraniti /Ancient India /Sanskrit Literature -4

(CEO-Logy, the science of CEO’s working based on Shukra Niti)

(Examples from Shukra Niti helpful to Chief executive Officer)

Successful Strategies for successful Chief executive Officer – 152

Guidelines for Chief Executive Officers (CEO) series – 152

By: Bhishma Kukreti (sales and marketing expert)

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पूर्ववत्सरशेषं च वर्तमानब्द संभवम् II331II

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… II334II

इतर: कीर्तितस्तंगैरायो लेख विशारदे I

(Shukra Niti Second Chapter Yuvrajadi Lakshan, 331-334)

Translation-

The personal income is of two types-

Balance income of Last year

Current year income

The miscellaneous income (Adhik and Sahjik Dhan ) is also of two types-

Fixed wealth (assets)

Liquid wealth (assets)
. The income from land is called Parthiv Ay (income from land). The income from land is generated from temples, artificial articles, water resources, contry ,rural and urban land and that income is of three types as explained earlier – Adhik, Madhyam and Alapfal (Highest, Medium and low result oriented) . The liquid income or assets are generated by compound income, financial fines (capital punishment), land tax, rent, gifts, etc. The accountant states that asset as income.

(Shukra Niti Second Chapter Yuvrajadi Lakshan, 331 –334)

Presently, the following are the sources of personal income –

Salaries/wages/ consultancy

Capital Gains less losses

Taxable pensions and annuities

Partnership and Corporate net income

Business net income

Dividends

Taxable individual retirement account distribution

Taxable social security benefits

Taxable interest

Unemployment or other types of compensation

References

1-Shukra Niti, Manoj Pocket Books Delhi, page -107

Copyright@ Bhishma Kukreti, October, 2020

Guidelines for Chief Executive Officer understanding types of personal income and assets with reference to Accounting and Finance management to be continued

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