G.K.'s way to Learn - Income from Salary

Page no : 4

Gourav Kapoor (CA Final Student) (2977 Points)
Replied 15 March 2011

i will correct after confirming...

1 Like

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Payal (Student) (36 Points)
Replied 15 March 2011

thanks!!!!!!!!

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

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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