Articles by CA Prashant Gupta

Exemption of leave travel allowance

Posted by CA Prashant Gupta 05 September 2014 28801 Views

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

Posted by CA Prashant Gupta 12 June 2014 19624 Views

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

Posted by CA Prashant Gupta 16 May 2014 42344 Views

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

Posted by CA Prashant Gupta 07 August 2013 7747 Views

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

Posted by CA Prashant Gupta 01 June 2013 24605 Views

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

Posted by CA Prashant Gupta 28 May 2013 42977 Views

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

Posted by CA Prashant Gupta 15 May 2013 44527 Views

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

Posted by CA Prashant Gupta 08 May 2013 30089 Views

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

Posted by CA Prashant Gupta 30 January 2013 19134 Views

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

Posted by CA Prashant Gupta 25 January 2013 43562 Views

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