srikant83's Posts - Page 4

HRA vs Rent Free accommodation- Comparison & Calculator

For salaried people most of the companies provide House Rent Allowances (HRA) and many companies also provide the facility of Rent free accommodation. Many companies provide the facility of House Rent Allowance (HRA) and in case the employee opt for rent free accommodation facility then HRA is not allowed....

Read More
Posted Under: Income Tax | ,

Tax on medical reimbursement received & expenses paid

All of us in our day to day life are incurring medical expenses either for ourself or for the dependent family members like spouse, children, parents, brothers and sisters. In this article we are going to talk about the funding of these medical expenses and income tax treatment of these expenses and reimbursements thereof (if any)....

Read More
Posted Under: Income Tax |

Spell Check in Excel –How to Use it?

Excel is one of the common application used in our day to day office life and business like word, Power point, outlook etc. In the case of word or Power point any spell mistake is visible with a red underline below the word that is misspelled. However in the case of Excel we mainly deals with figures and such kind of misspelled word are n...

Read More
Posted Under: Income Tax |

VAT, Luxury Tax & Service Tax on Hotel & Restaurant industry

All of us use the services of Hotels and restaurant for stay, meetings, party, get together etc. It is generally been observed that the ultimate payment made by us is much higher than the prices mentioned on the menu list or tariff charts. The difference arises because of 4 major heads:...

Read More
Posted Under: Income Tax |

Reimbursement of expenses from Service / Income tax perspective

Whenever we are appointing any professional (be it chartered accountant, lawyers, consultant etc) then in addition to payment of fees we also reimburse them expenses (like travel ticket cost, hotel bills, local conveyance etc) that has been incurred by them in the course of providing services. ...

Read More
Posted Under: Income Tax |

Value At Risk (VaR): Methodology for Measuring Financial Risk

In everyday life all of us are taking some amount of risk. Similarly a business also contains risk. Risk is the unexpected variability of asset prices and / or earnings. So risk is basically volatility and not necessarily loss. There are major two sources of risk 1) Business Risk 2) Financial Risk ...

Read More
Posted Under: Income Tax |

Utility to know capital, currency, language & Country continent

Please find details of the countries w.r.t their capital, currency, language and the continent in which they are falling. This excel sheet has been developed using advanced excel feature which enables it to predict words as happens in case of google search or other advanced search engines. ...

Read More

Download All India VAT Ready Reckoner

Please find attached All India VAT Ready Reckoner. It contains the 30 states (including union territory). I believe you will find the same very useful. It may be noted that VAT Act and Rules keeps changing from time to time through notification, circulars, finance act of the state etc. Though utmost care has been taken to reflect most upd...

Read More

Education Cess & SHEC can be used for Excise Duty payment

We know that education cess and Higher education cess has been withdrawn on excise duty (though the same continues with service tax, income tax and other applicable taxes) w.e.f 01.03.2015. ...

Read More
Posted Under: Income Tax |

Income tax Calculator for Financial year 2015-16

Please find attached the Excel file containing Income Tax calculator as modified by Finance Bill 2015 presented on 28th February 2015. The above Income Tax calculator contains the rate of tax for last 19 financial year (i.e Financial year 1997-98 to 2015-16) and income tax calculator for last 9 years (i.e Financial year 2006-07 to 2015-16...

Read More