Introduction to Income Taxation | Part 3 | Glen Ramos

[heymajoy]

Bagni, Mary Joy C.
BSBA 2A
-For todays' lesson I've learned about the number two elements of gross income which is a “realized benefit”. Regarding to that, I've also known some properties and receipts that is not considered as benefits. Additionally, through your discussion you've also mention the 3 requisites of a realized benefit plus their examples. Furthermore, I got to know the different types of transfers including Bilateral transfer or called as exhanges or onerous transactions, Unilateral transfers known as transfers or gratuitous transactions, and the Complex transaction which is the combined gratuitous and onerous transaction. Lastly, I learned two another entities which are natural and juridical. Looking forward to learn from you again sir : )

[ignaciochrystheltalania]

Ignacio, Chrysthel T.
BSA 2A

I learnt the continuation of the Elements of Gross Income in today's course, which are that it is a realized benefit and that it is not exempted by law, contract, or treaty. I discovered that the second component of gross income is the so-called benefit idea, which states that there is a benefit when the taxpayer's net worth increases. I also learned that receiving a loan, discovering lost property, and receiving money or property to be kept in trust for, or paid to another person are instances of not advantages. In addition, I've learnt what the realized notion entails, which is that the term realized refers to anything that has been gained.

[aysonmarychelle]

For today's lesson I have learned the Part 3 of Introduction to Income Taxation which about the second Elements of Gross Income which it is a realized benefit. In this lesson there are three types of Transfers which are Bilateral transfer, Unilateral transfer and also Complex transaction. Bilateral transfers it means you are not expecting something in return. Unilateral transfers it means free, you are giving property or you are transferring that property without expecting something in return. Complex transaction this is the combination of Bilateral and Unilateral transfers. Furthermore, I also learned the some examples of Taxable and not taxable. Lastly, the Proprietorship business is not Juridical entity but rather a natural entity because it has been mange by a sole owner.

[macatangaynimphalynr.]

Macatangay, Nimpha Lyn R
BSBA 2-A

In today's lesson, I've learned about the three(3) Elements of Gross Income. These are, (1) it is a return on capital that increases net worth, (2) it is a realized benefit and (3) it is not exempted by law, contract or treaty. I gained a deeper understanding and gain more knowledge about the Realized concept and the three(3) types of transfer which are the (1) Bilateral Transfer, (2) Unilateral Transfer and (3) Complex Transfer. Lastly I learned about taxable and not taxable.

[solomonladyannr.]

Solomon, Lady Ann R.
BSBA-2B

For today's lesson, I learned about the 3 elements of gross income which are: 1) It is a return on capital that increases net worth 2) It is a realized benefit 3) It is not exempted by law, contract or treaty. I've also learned the "realized" concept which means "earned" and the different types of transfers namely: 1)Bilateral transfers which also called as onerous transactions, 2)Unilateral transfers, also referred to as gratuitous transactions which means free and last 3)Complex transactions.

[ramasnoriel]

Ramos, Noriel Jr C.
BSA-2A

For today's discussion, I've learned the 3 element's of gross income. 1.) It is a return on capital that increase net worth. 2.) It is a realized benefits. 3.) It is not exempted by law, contract or treaty. I also learn that benefits is advantage wherein there is increase in net worth of the taxpayer. Furthermore, Receipt of loan, Discovery of lost properties, and Receipt of money or property to be held are the following not benefits or not taxable. There are three types of transfer; 1.) Bilateral transfer. 2.) Unilateral transfer. 3.) Complex transaction. Lastly, I've learned the many types of entities. Including those that are taxed, such as income between connected businesses. And those that are not, such as home and branch offices.

[eyyyeeaaahhhh]

Oriel, Rhealyn M.
BSA 2-A

Today, I've learned about the elements of gross income. There are 3 elements of gross income, these are: 1.) It is a return on capital that increases net worth. 2.) It is a realized benefit. 3.) It is not exempted by law, contract or treaty. I also learned that there are some benefits that are not taxable. Other thing that I have learned today is there are three types of transfers, these are: 1.) Bilateral transfers/exchanges- the two parties have degree of undertaking or sacrifices, also called as onerous transactions. 2.) Unilateral transfers 3.) Complex transactions. There are benefits that are subject to income tax and there are benefits that are subject to transfer tax, not income tax.

[quindaramialiwanag]

Quindara, Mia L.
BSA-2A

I have learned more about the second and third elements of gross income which are: it is realized benefit and it is not exempted by law, contract ot treaty. We can say that it is "benefit" if it gives us advantage, examples are receipt of income, donation or inheritance. However their are also benefit that is not taxable like receipt of a loan. Also the concept of "realized" is if it is earned, there are also requisites of a "realized benefit" that we must know. Also this video made me understand the different types of transfers which are: bilateral transfers/exchanges, -onerous transactions, unilateral transactions, and complex transactions. Additionally, onerous transactions are subject to income tax while gratuitous transactions are subject to transfer tax.

[delosreyeslee-anne]

Delos Reyes, Lee-Anne T.
BSBA 2A

Today I've learned about 3 elements of gross income which is 1) it is a Capita that increases net worth. 2) it is realized benefit. 3) it is not exempted by law, contract or treaty. I also learned about that the benefits is an advantage and there's benefit when there is an increase in the net worth of the taxpayer.

[paraisojazelle-annl.]

Paraiso, Jazelle - Ann L.
BSBA 2C
In this Part three of introduction 9f income tax I learned about the things that is taxable and not taxable. I also learned about the three types of transfer which are:
1. Bilateral transfer/exchange /onerous transactions - which the two parties have degree of undertaken or sacrifice.
2. Unilateral transfer/transfer /gratuitous transaction - which has two examples:
a. Succession
b. Donation
3. Complex Transactions-partially gratuitous and onerous. Commonly referred as " transfer for less than full and adequate consideration"

I also learned the things that are taxable and the things that are not taxable.

[cristyancheta]

Thank you sir Glen Ramos. Very informative and well-explained. I will surely recommend this channel. God bless and more topics in income taxation please. Stay safe.

[tandoccatrinaocampo]

Tandoc, Catrina O.
BSA 2A

For today's video lecture, I learned about the three elements of gross income; (1) return on capital that increases net worth, (2) realized benefit and (3) not exempted by law, contract or treaty. I also know those things that are not part of benefits. I also learned the three types of transfers. These can be a product exchange for money in which each source wants something in return. I learned about types of entities including those taxes such as income between connecred businesses and those that are not such as home and branch offices.

[gullajohnwilsonb.]

Gulla, John Wilson B.
BSBA 2A

In this video presentation I learned about the elements of gross income which are it is a return on capital that increases net worth, realized benefit, and not exempted by law, contract and treaty. Additionally, I've learned about benefit under the realized benefit also the realized concept. Moreover, there are 3 types of transfer Bilateral, Unilateral and Complex. Bilateral transfer also called onerous transactions while Unilateral transfer is also called gratuitous transactions and Complex transfer combining the two transfer which are Bilateral and Unilateral. Lastly, those taxable and not taxable income.

[riverakyrell]

RIVERA KYRELL
BSBA 2D

I've learned about the Elements of Gross Income. It has three elements and these are; it is the return on capital that increases net worth, it is a realized benefit and it is not exempted by law contract or treaty. I've also learned what is meant by another entity and the taxable and non-taxable.

[aquinojohncarloandaya]

Aquino, John Carlo A.
BSA 2A

This lesson taught me many things like the Elements of Gross Income. There are three elements of gross income and those are; It is a return on capital that increases net worth, it is a realized benefit, and lastly it is not exempted by law, contract or treaty. There are benefits or advantage that a taxpayer receives like the increase in net worth. I have also seen in this video that there are Three requisites of a realized benefit and those are 1. There must be an exchange transaction, 2. The transaction involves another entity, and 3. It increases the net worth of the recipient. There are also Three types of transfer; The Bilateral transfers, Unilateral Transfers, and Complex transactions.

[baladadallysongaylebautist]

BALADAD, ALLYSON GAYLE B.
BSA-2A

I learned a more thorough description of gross income in this video discussion, which consists of three components. There are some benefits that every taxpayer enjoys, yet there are some that are not taxed. I also learned about the three different types of transfers. These can be a product exchange for money in which each source wants something in return, or a donation in which you are willing to contribute but do not expect anything in return. I also learned about the many types of entities, including those that are taxed, such as income between connected businesses, and those that are not, such as home and branch offices.

[kylaalvendiachan]

Chan, Kyla A
BSBA 2A
in today's lesson i learned about the elements of gross income and its meaning. and the types of transfers which is the bilateral transfer, unilateral transfer and complex transactions

[ganancialfahnama]

Ganancial, Fahnama S.
BSBA 2A

For today's lesson, I've learned the second elements of gross income which is realized benefit. Benefit means advantage and the not benefit (not taxable) are receipt of a loan, discovery of lost properties, and receipt of money or property to be held in trust for or to be remitted to another person. I've also learn the meaning of realized means earned. There are three types of transfers which are the bilateral transfers, unilateral transfers, and complex transactions.The bilateral transfer is means two parties have degree of undertaking or sacrifice. Unilateral transfers means gratuitous transactions. Complex transactions are party gratuitous and party onerous. Lastly, I've learned about the taxable and not taxable.

[villanuevafeamarien.]

Villanueva, Fea Marie N.
BSBA 2-B
In this lecture, I learnt about the three elements of gross income: return on capital that increases net worth, a realized benefit, and not exempted by law, contract or treaty. I discovered that a taxpayer will receive benefits if the net worth increases and the taxpayer receives receipt of income, donation, or inheritance. I also learnt the concept of realized benefit wherein it has requisites. Furthermore, I discovered the three types of transfers: bilateral, unilateral, and complex. Lastly, I learnt that the income arises from transactions which involve the same entity is not taxable.

[amanda]

Soriano, Angel Rose A.
BSBA 2C

In this lesson, I learned that In loan, we recieve money that's why the property increase but the liability is also increase. Second, In order for the taxpayer to be entitled of the benefit there should be a degree of undertaking or sacrifice from the taxpayer. Also, I also learned that the income arises from transaction which involve the same entity is not taxable. Next, When we say separate entities the income that derived between the separate entities are always taxable. Lastly, I learned that the sales of a home office to its branch office is not taxable because the home office and branch office are single entity.