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Articles by CA Prashant Gupta

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Exemption of leave travel allowance

  CA Prashant Gupta    05 September 2014 at 10:48

Leave Travel Allowance or Leave Travel Concession is the allowance which is paid by company to its employees to meet expense of travelling within India. This is for employee and his family. This is tax free under se



Extra Charges on Restaurant Bill

  CA Prashant Gupta    12 June 2014 at 11:51

Have you ever noticed that when you go to a restaurant and place order; you calculate the expected bill amount in your mind: But when the bills comes it is more than you expectation. I am sure it happens with all of u



Sec 87A-A small Rebate to Resident Individuals

  CA Prashant Gupta    16 May 2014 at 12:40

Sec 87A- A small Rebate of income-tax to Resident Individuals.In Budget 2013 Finance Minister Mr. P. Chidambaram choose a middle way to give benefit to small tax payers and save a big amount of tax for tax revenue by neglected bigger slab tax payers



Time, with the eyes of an investor

  CA Prashant Gupta    07 August 2013 at 13:07

Time, with the eyes of an investor If you are working in finance, then you must have heard about ROI (Return on investment). This is the term we use to know how we are earning on our investment and as all good investor we want our ROI to be highest.



Some Tips about exam preparation

  CA Prashant Gupta    01 June 2013 at 16:30

When you sit down to study, first Question is raised in your mind how can you transfer that massive amount of information from the books and notes to your mind so that whenever you need you can recall all? It is not like file transfer on computer; y



Property Transactions and new tax effect

  CA Prashant Gupta    28 May 2013 at 12:04

Property transactions Budget 2013 amended some sections related to property transactions. These amendments effect a person in many ways. Some are described below: When there is difference between property value and stamp duty value exceeds 50,000/-:



Capitalization of Borrowing Cost

  CA Prashant Gupta    15 May 2013 at 12:22

In this competition market mostly business work on borrowed funds. Finance has the work to arrange and utilize the funds. But after this Q is raised, when this borrowing cost will be capitalized and when it is charged to revenue. AS-16 deals with th



Deduction u/s pension scheme worthy or not as per income tax

  CA Prashant Gupta    08 May 2013 at 12:21

Any individual can deposit contribution to Notified Pension Scheme by central Government. If person is employed then his contribution will get deduction u/s 80CCD (1) and employer contribution will get deduction u/s 80CCD (2). Any self employed can



Talk to Stranger

  CA Prashant Gupta    30 January 2013 at 15:48

I was in a boring seminar. On the right seat next to me was an elderly person. He was with a person who was sitting on his right side. They were barely talking. I heard some words. I came to know that he is Vice President of a Co



A Quick glance on Exemption from Capital Gain

  CA Prashant Gupta    25 January 2013 at 18:12

People gets money when sell property, BUT, they also get tension when they come to know that this money brings a big Capital Gain tax on them. Income tax gives some exemptions from this capital gain. I