i will correct after confirming...
G.K.'s way to Learn - Income from Salary
Page no : 4
rishab goenka
(ipcc)
(122 Points)
Replied 15 March 2011
hey gaurav it is correct i have checked v.k.singhania book
Gourav Kapoor
(CA Final Student)
(2977 Points)
Replied 15 March 2011
@ rishab....yar V K singhania ki book me glt dia hai....here is the original concept...Agar aap Unrecognised PF ka balance kisi Recognised PF mein transfer karoge toh tab rule yeh hai:- Aap assume karoge ki ye fund create hone ke din se hi Recognised hai. Tab jo amount taxable hota i.e. (Excess of 12% of employee's salary or excess of 9.5% in case of interest credited) vo hi in the year of trf. of fund taxable hoga in the hands of employee.
Gourav Kapoor
(CA Final Student)
(2977 Points)
Replied 27 May 2011
Interest free Loan / Loan @ concessional rate
employer ne employee ko loan dia...ya fir member of household ko
ab meber of household kon ho skta hai
- spouse
- children & their spouse
- parents
- servants / dependants
ab ye loan interest free b ho skta hai ya km rate pe dia ho skta hai
hmne kuch khas nai krna
sbse pele SBI rate k according interest calculate krlo
ab isko given interest k sath compare kro
jo b difference hoga, vo taxable ho jayega
ab hm india me rehte hain exceptions to hr kahin hoti hi hain...yahan b hai
- agr aggregate loan amount 20000 se km hai, to uska interest calculate krne ki koi jarurat nai hai
- agr loan rule 3A k under defined specific diseases ki treatment k lie dia hai to vo b exempt hai
Gourav Kapoor
(CA Final Student)
(2977 Points)
Replied 27 May 2011
value of tour and travelling accomodation
yahan 4 conditions ho skti hain
| Condition | Value |
| Facility maintained by employer & is not available to all empoyees | Value at which such facilities are offered by other agencies to public |
| employee on official tour and expenses incurred in respect of any member of his household accompaying him | Amount of expenditure incurred |
| official tour extended as vacation | value of such expenses incurred on extended period |
| any other case | amount of expenditure incurred by employer |
Gourav Kapoor
(CA Final Student)
(2977 Points)
Replied 15 February 2012
thanks manjunathan..but i did not continue it further as none was replying over it
Gourav Kapoor
(CA Final Student)
(2977 Points)
Replied 18 February 2012
hi friends...am back again for updations...hope u all will be benefitted..
Gourav Kapoor
(CA Final Student)
(2977 Points)
Replied 18 February 2012
Points to remember for computing HRA :
The exemption in HRA is based on following factors :
1. Salary
2. Place of residence
3. Rent Paid
4. HRA Recieved
Since there is a possibility of changes in any of the above factors during the previous year, exemption of HRA should not always be calculated on annual basis.
As long as there is no change in any of the above factor, it can be calculated together for that period.
Whenever, there is a change in any of the above factors, it should be separately calculated till the next change.
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