Taxation on Purchase or Sale of House PropertyArjuna(fictional character): O Lord Krishna, food, clothes and house, being the basic necessities of life, hold an important place in human life. But nowadays lot of money is needed to buy or construct a
Finance and Income Tax of Charitable TrustsLet us try to get answers to our questions in a bit different and joyful manner. The fictional character of Arjuna will be played by the common man or tax payer and the fictional character of Krishna the Exp
In an earlier post we looked at the conditions governing tax exemption on leave travel allowance (LTA). In this post we will look at the calculation of the tax exemption amount. As mentioned in the earlier post, the exemption is available only on tra
As a company engaged in the business of payroll processing and statutory compliance related to payroll, we wonder if the tax law governing tax exemption on Leave Travel Allowance (LTA) is among the most complex tax legislations in India. Each year or
Sri S.S.Tarapore, retired Dy. Governor , Reserve Bank of India, and a popular columnist in The Hindu Business Line, Eenadu dailies time and again requests the RBI authorities to do justice to the poor depositors by payi
Few days back ( on 13th Nov 2013)I posted an article on exemption from house Rent allowance House Rent Allowance-A tool of Tax planning for employees Really I feel very happy to see the responses to the article and good to know that pe
Karniti Part 11 (Sachin Tendulkar Special)Sachin like Retirement and its Financial PlanningKeeping conversation between Lord Krishna and Arjuna as the foundation we will learn certain basic financial and tax matter. Let us try to get an
House Rent Allowance (HRA) is second component which is found in each pay slip after basic salary. This is the major contributor in tax relief for the employee who reside in rented house during his/her employment.Generally employee submits Rent recei
Medical Expenses and Income Tax Arjuna: Madhava, just now Diwali festival has been celebrated. On the occasion of Diwali, we have discussed how books of accounts to be maintained and if one has to start new business then which tax laws are required
Shastrartha: Taxation of Gifts received on Diwali Man: Hey Lord! The festival of Diwali has brought us closer to our relatives. The exchange of blessings, gifts, sweets arouses the love that exists amongst us. God: It is good to enjoy but never fo
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