Finance Friend

TDS on purchase of immovable property

February 14, 2014March 31, 2013

TDS on purchase of immovable property IF your are planning to buy a immovable properties, you should be ready to deduct tax at source (TDS) @1% subject to certain conditions from 1st Jun, 2013. The Read more [...]

Budget 2013 highlights for Individuals

April 3, 2013February 28, 2013

Budget 2013 highlights for Individuals: Income Tax Exemption Limit : Basic limit of exemption (general category) increased to Rs. 2.2 Lakhs from Rs. 2 Lakhs – saving of Rs. 2000 for the persons Read more [...]

What is Annual Value of House Property

March 29, 2013February 28, 2013

What is Annual Value of House Property : For calculating Income from house property, first step would be to derive Annual Value. It is always a difficult task to calculate annual value as there are total Read more [...]

Difference between Limited Liability Partnership and Partnership Firm

July 15, 2016December 26, 2012

Difference between Limited Liability Partnership and Partnership Firm : Sr. No. Particulars Limited Liability Partnership Partnership Firm 1 Liability Partners Share Read more […]

Depreciation chart as per Income Tax Act for FY 2012-13

December 3, 2012October 31, 2012

Depreciation chart as per Income Tax Act for FY 2012-13 and AY 2013-14 Assets are bifurcated in five classes as under for the purpose of Depreciation as per Income Act . Building Furniture Plant Read more [...]

Exemption of Leave Encashment

November 4, 2012September 30, 2012

Employees are eligible for various leave while in service .Employee usually take some leave during the year as per company policy and balance leave will remain unavailed for the year. For example employee Read more [...]