Leave Travel Allowance Que.: What is an LTA? Ans.:- An LTA is the remuneration paid by an employer for Employee’s travel in the country, when he is on leave with the family or alone. LTA amount is tax free. [Read More]
Nov 282012
Nov 272012
1. Can I use C&I taxonomy to create Cost Audit Report or Compliance Report? No, there is a separate in-Cost taxonomy for creating Cost Audit Report or Compliance Report. The Costing Taxonomy can be accessed from the website of Ministry [Read More]
Nov 272012
1. Whether the existing e-forms are to be used for filing Cost Audit Report / Compliance Report in XBRL mode? No, the existing forms are not to be used for filing Cost Audit Report/ Compliance Report. For this, new Form [Read More]
Nov 272012
1. Which are the companies that need to file the Cost Audit Report and Compliance Report in XBRL format? Ministry of Corporate Affairs has mandated filing of the Cost Audit Report and Compliance Report from the financial year 2011-12 onwards [Read More]
Nov 232012
Rajiv Gandhi Equity Saving Scheme (RGESS) Eligibility: The Rajiv Gandhi Equity Saving Scheme is applicable to those individual. 1. Whose Taxable Income is not more than Rs. 10,00,000/- in a Financial Year. 2. Who have no Equity or Derivative transaction [Read More]
Nov 222012
Maharashtra Labour Welfare Fund (MLWF) Maharashtra Labour Welfare Fund has become effective in the year 1953 and is applicable to all the companies in the state that has 5 or more persons employed, who are considered contract labours as per [Read More]
Nov 212012
Profession Tax on Employees in Maharashtra Profession tax also called tax on employment is imposed by a state under article 276 of the Constitution of India. This tax is deducted from the salary of an employee every month. The profession [Read More]
Nov 202012
Deduction under Section 80CCF is not available for Asst. Year 2013-14. 80CCF Infrastructure Bonds The better option with all the investors for fixed investments is available in the market to make savings on their capital and minimize the risk of [Read More]
Nov 192012
House Rent Allowance Income tax department offers HRA tax exemption for those individual tax payer who stays in a rented house. Section 10(13A) of the income tax act allows the exemption of HRA. Employee can claim for HRA exemption if [Read More]
Nov 192012
Time & Attendance Machines Biometric machine, the most adorable print verification system is an exemplary solution for time and attendance. The Machine holds the record of check-in and check-out of registered users. The biometric machine can be directly connected to [Read More]