When a depreciable asset of a power generating units is sold, discarded, demolished or destroyed then terminal depreciation shall be deductible from sale consideration while computing capital gains, or balancing charge is taxable in the relevant year, as the case may be. Interest paid in respect of capital borrowed for the purposes of the business or profession shall be allowed as deduction. However, if capital is borrowed for acquiring an asset, then interest for any period beginning from the date on which capital was borrowed till the date on which asset was first put to use, shall not be allowed as deduction.

B) Gift in kind up to what is ac note in money.5,000 in aggregate per annum would be exempt, beyond which it would be taxable. The eligible start-up shall accordingly, be required to deposit tax with the government within 14 days of the happening of any of the above events . B) Such accommodation in hotel is provided on employee’s transfer from one place to another place. 3) The value so determined shall be reduced by the amount of rent, if any, recovered from the employee.

A medium of exchange that is centralized, generally accepted, recognized, and facilitates transactions of goods and services, is known as money. Making online payment through same Credit/Debit Card is allowed for five Contract Account Numbers during one billing cycle. Registered Consumer required to ensure that payment is made through valid Credit/Debit card, for which consumer may require to prove authentication of card holder, if Tata Power-DDL requires the same in future.

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Only two properties selected by the taxpayer will be considered as self-occupied house properties and all other properties shall be deemed to be let-out for the purpose of computation of income under the head house property. A) Taxable value of perquisite shall be expenditure incurred by the employer less amount recovered from employee. Taxable value of perquisite shall be salary paid or payable by the employer for such services less any amount recovered from the employee. NPCI has implemented the National Automated Clearing House , a web based solution for Banks, Financial Institutions, Corporates and Government to facilitate interbank, high volume, electronic transactions which are repetitive and periodic in nature. Consumer is required to give one time mandate for auto debit of Tata Power- DDL bill payment and amount will be deducted from his bank account. Further enhancing customer convenience, Tata Power-DDL has launched a new and easy payment mode for its consumers – Unified Payments Interface in collaboration with YES Bank.

Presumptive income from business of plying, hiring or leasing of goods carriage if assessee does not own more than 10 goods carriage. Presumptive income of eligible business shall be 8% of gross receipt or total turnover. 2) If gross receipts exceeds Rs. 50 Lakhs in any previous year, in case of profession. Income of a non-resident engaged in the business of operation of aircraft shall be computed on presumptive basis .

Fake Indian Currency Notes Information System

D) Long-term capital gains arising from transfer of listed equity share, or a unit of an equity oriented fund or a unit of a business trust as referred to in Section 112A shall be chargeable to tax at the rate of 10% in excess of Rs. 1 Lakh. Further, it shall be deemed that the company has misreported the said income and, consequently, a penalty of an amount equal to 200% of tax payable on the underreported income (i.e., difference between issue price and fair market value of shares) shall be levied as per section 270A. If a closely held public company receives any consideration for issue of shares which exceed the fair market value of such shares, the aggregate consideration received for such shares as reduced by its fair market value shall be chargeable to tax. However, if professional tax is paid by the employer on behalf of its employee than it is first included in the salary of the employee as a perquisite and then same amount is allowed as deduction. Any sum of money received by an individual, from any person, in respect of any expenditure actually incurred by him on his medical treatment or treatment of any member of his family in respect of any illness related to COVID-19, shall not be considered as income of such person.

• Expenditure incurred wholly and exclusively for the business of PE or fixed place of profession in India shall be allowed as deduction.
• Payment to a National Laboratory or University or an Indian Institute of Technology or a specified person is allowed as deduction.
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• DDOs are the units of activities and an analysis of the AC- DC bills at that level gives an actionable data as well as information for the audit teams to select the units and carry out audit of the same.

Payment transaction can be tracked through UTR / Reference No issued/generated while making the payment. No processing fees/charges shall be charged by Tata Power-DDL for payment made up to a limit of Rs 5,000/- during one billing cycle. For payments above Rs 5,000/-, the processing fees/charges shall be collected directly by the Issuer Bank / Payment Gateway etc from the consumer. “Specified fund” means a fund established or incorporated in India in the form of a trust or a company or a LLP or a body corporate which has been granted a certificate of registration by SEBI as a Category I or Category II Alternative Investment Fund .

Process for availing the EMI facility on TPDDL electricity bills

The bank will ask for the CA number for payment details, bill amount and due date to validate the transaction. Please note that payments of only the full amount of the bill can be made in the branches. The complete process to be followed at Yes Bank branches is defined below. Consumers can choose to pay their TATA Power-DDL bills through PAY TM application or website where various payment modes of Credit /Debits Cards, Net Banking and PAY TM wallet option are available.

Federal 24 7 is a platform that helps you open and manage an https://1investing.in/count 24X7 without having to visit the branch. With reference to the office of the Attorney General of India, Which of the following statements is/are correct? In the performance of his official duties, the Attorney General has the right of audience in all courts in the territory of India. On choosing any of the channels, the consumer shall be redirected to service provider’s network/site for further procedure and making payment.

Dashboards could now be created to monitor the AC bill drawals, on a continuous basis. An indicative dashboard on Head of account wise monitoring is given in Fig. The analysis of AC DC bills show huge numbers and amount drawn through AC Bills, inordinate delay in the submission of DC Bills, rush of drawal through AC Bills in the month of March as well as for works of Capital and Planned nature, and drawal of AC Bill without submission of DC Bill. These insights lead to the conclusion that there needs to be monitoring at the Treasury and DDO level. Expenditure through AC Bill should be done only for meeting contingent expenses and not for carrying out planned activities. It is interesting to note that the top two MHs under which maximum AC Bill has been drawn are capital in nature – & 5054as shown in Fig.2 below.

The dataset had details like the AC bill drawal date, amount, DC bills submitted by the DDO, Head of Account classification, pending unadjusted amount etc., The data was available for six years. The data was analysed using Tableau and insights were derived, based on which dashboards were prepared for the continuous use by the office. Earlier, the RRB had released the tentative schedule for the upcoming DV &Medical Examination for various posts..

Amount withdrawn from special reserves created and maintained underSection 36 shall be chargeable as income in the previous year in which the amount is withdrawn. The house will be taken as let-out property and no concession shall be available for the duration during which the property was self-occupied. Deduction for interest on borrowed capital is allowed up to Rs. 30,000 or Rs. 2,00,000, as the case may be. Aggregate Deduction for interest on borrowed capital is allowed up to Rs. 30,000 or Rs. 2,00,000, as the case may be. The assessee should not be eligible to claim deduction under Section 80EE.

Special allowance in case of business of prospecting etc. for mineral oil in relation to which the Central Government has entered into an agreement with the taxpayer for the association or participation . Where deductor has failed to deduct the tax and he is not deemed to be an assessee in default under first proviso to section 201, then it shall be deemed that the deductor has deducted and paid the tax on the date on which the payee has furnished his return of Income. B) Public company registered in India with the main object of carrying on the business of providing long-term finance for construction or purchase of residential houses in India. Qualifying preliminary expenditure is allowable in each of 5 successive years beginning with the previous year in which the extension of undertaking is completed or the new unit commences production or operation. No deduction shall be allowed to a company engaged in manufacturing alcoholic spirits or tobacco products.

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E) Where deduction has been allowed under this section, no deduction shall be allowed in respect of such interest under any other provision. Where maintenances and running expenses including remuneration of the chauffeur are met or reimbursed by the employer. • If places of origin of journey and destination are connected by rail but the journey is performed by any other mode of transport – Exemption up to air-conditioned first class rail fare by the shortest route. This is the Portal of Indian Railways, developed with an objective to enable a single window access to information and services being provided by the various Indian Railways entities. The content in this Portal is the result of a collaborative effort of various Indian Railways Entities and Departments Maintained by CRIS, Ministry of Railways, Government of India.

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Upon completion of the entire payment process, a transaction success/ failure message along with the entire transaction details will be displayed on-screen. You can save / take a print out of the online acknowledgement for reference purpose. If new asset is transferred within a period of 3 years from the date of its acquisition. Land, building, plant or machinery, in order to shift industrial undertaking to SEZ.

These currencies can easily be exchanged for fiat money like cryptocurrencies. There are many forms of money, and cryptocurrency is the newest addition to the forms of money and can be internationally exchanged. Money is a medium of exchange for various goods and services in an economy. The link to the system is available below and can be accessed round the clock by Ministry of Home Affairs, Ministry of Finance and other authorized users. Exclusive training-cum-workshops have been conducted for all stakeholders.

Exceptions – If a Citizen of India render services outside India, and receives salary from Government of India, it would be taxable as salary deemed to have accrued in India. B) Existence of relationship of employer and employee is must between the payer and payee to tax the income under this head. A) Salary income is chargeable to tax on “due basis” or “receipt basis” whichever is earlier.

C) In respect of self-occupied residential house property, interest incurred on capital borrowed for the purpose of reconstruction, repairs or renewals of a house property shall be allowed as deduction up to Rs. 30,000. Consideration paid by company on buyback of shares or other securities would be deemed as full value of consideration. The difference between the cost of acquisition and buy-back price would be taxed as capital gain in the hands of the shareholder. Computation of capital gain depends upon the nature of the capital asset transferred during the previous year, vis-à-vis, short-term capital asset, long-term capital asset or depreciable asset.