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Articles by Aashish Ramchand

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Valuation of leave travel concession in India

  Aashish Ramchand    04 October 2012 at 10:53

Valuation of leave travel concession in India [Sec. 10 (50)] - Leave travel assistance provided by an employer to an employee for going anywhere in India along with his family is exempt on the basis of provisions given in the table below. F



Gratuity and its allowable exemption limit

  Aashish Ramchand    02 October 2012 at 14:00

In this article I have discussed the various provisions regarding gratuity and its taxation - Gratuity is a retirement benefit. It is generally payable at the time of cessation of employment and on the basis of duration of service. To discuss th



Leave Salary and its Taxation

  Aashish Ramchand    28 September 2012 at 12:47

In this article I have explained the various provisions regarding the taxability of leave salary - What is leave salary? As per service rules, an employee gets different leaves. An employee has to earn leave in the first instance and onl



Audit under section 44AB

  Aashish Ramchand    28 September 2012 at 12:47

I have discussed the various provisions with respect to section 44 AB below The following persons are liable to get their books of accounts audited compulsorily by a Chartered Accountant 1) A person carrying on business if the