Reteriment means regular termination of service at specific age

Superannuation means retirement due to Health problem occured while in course of employement for which the employee is annable to work.

Originally posted by : risabh
	what is the importance of buisness ethics? and what is d importance of ethics in buisnes??   are the answers for both d questions wud be d same???? pls tell me

Hey dude there is a differance between both according to me

When thay ask about Importance of BE they are asking about wt are the inportance of Business ethics which alredy exsist!

Where as, when they ask for impt of ethics in buz they are asking about why is ethics needed in business and its the importance. or What are the importance of having ethics in business!!

In Taxability of Gifts 

Spouses of Lineal descendants of Spouse of individual are included in the term 'RELATIVE

Does this mean spouses of Son/Daughter/Grandson/Granddaughter are included in the term 'RELATIVE'

Originally posted by : vivek saria
	In Taxability of Gifts  Spouses of Lineal descendants of Spouse of individual are included in the term 'RELATIVE Does this mean spouses of Son/Daughter/Grandson/Granddaughter are included in the term 'RELATIVE'

Yes it includes soupses of Son/Daughter/Grandson/Granddaughter!!

@ Vivek: Note: since lineal word is used adopted child may not b included in the definition of Relative!

Mr X , sis's son of Mr X(Nephew)

For Mr X, Nephew is is relative, whereas, for Nephew X is not relative.

!!!!!!!!!!!!!!!!!!

i tried to do ethics portion from icai material becoz i have heard people saying that do ethics from module only...

but its so tough language..even in the morning tym i tried to understand it bt felt sleepy..

so can i do it frm another buk? is it like compulosry to write the same bookish langauge as the icai becoz i have i am having notes of ethics but the langauge is entirely different from that of icai module?

pls tell me ..

@ bhavik:

for calculation of WIP in working capital just remember one thing that the WIP is to be divided in 3 parts: Material, Labour n Overhead...

Thus, if for WIP its given that time period is 2 months then for material u will calculate it for 2 months n for labour n overhead u will calculate it for half of 2 month (2/2 month) that is 1 month...

Thanks Kritika

I have one more gought in Tax 

In 80D we get deduction of Mediclaim

my dought is ke maine apne account sey mere liye & for my mom i had pay cheque

so whether i get full amount of deduction or only for me

eg: suppose cheque amt is 5000 for me & mom

so i get deduction of 5000 

or 2500 for me only

In Deduction u/s 80 D , you will get a deduction for your parents as long as they are DEPENDENT on you.So in the above case if your mother is dependent on you , you will be gettin the deduction for Rs.5000 .

what is the difference between corporation and company... explain in details

There is one statue called Companies Act, 1956. Broadly companies and corporations, both name styles are governed under the provisions of this Act - unless an entity is formed by a Special Act of the legislature; for example Food Corporation of India. Basically both are companies but the corporation status is perceived mainly in relation with 100% government companies or subsidiaries of government companies or government, its agencies, its authorities or its institutions being the major shareholders. Additionally, the Registrar of Companies, guided by its administrative guidelines or in his own prudent judgement may grant the use of the word "corporation" in the name of the company ( to a private party) having complied with certain formalities; examples being Indo-Gulf Corporation Limited - a Birla Group company and Indian Oil Corporation Limited - a majority capital with the Central Government .

In modern times, both the entities are mainly limited liability companies and governed by the provisions of the Companies Act, 1956 or the provisions of the Special Act, as the case may be.

Companies, ending their names with "Private Limited" (or its abbreviations like P. Ltd or Pvt. Ltd.) or "Limited" (or Ltd.) are limited liability private and public limited companies respectively with limited liability clause for its shareholders. There are other kind of companies also permissible to be registered under the Companies Act, 1956 - like Section 25 companies etc.

With this background, the difference between a company or a corporation may be of cosmetic nature so far as the ownership and internal workings are concerned.

The word corporate is a general word used both for company and corporation, but in legal sense a corporate entity must be a registered entity either under the Companies Act or under the Special Act as enumerated above but excludes registered societies in all forms, partnership and proprietary firms, trusts, AOPs, HUFs etc.

what are the dispute as to gratuity? explain

what is protection of gratuity?

what is validation of payment of gratuity?

what is the concept of minimum n maximum bonus in payment of bonus act? n what is sec 15 of payment of bonus act?