Benefits and Drawbacks of HUF in Tax Compilation
Hindu Undivided Family, or more commonly known by the abbreviation HUF, is a term used to denote of a common ancestor and every one of his lineal male offspring together with their spouses and spinster daughters. Hence a HUF comprises of everyone in the family; males in the family by default, females until they are … Continue reading “Benefits and Drawbacks of HUF in Tax Compilation”
Read MoreAssam VAT
Assam introduced the Value Added Tax in May 2005. The Assam Value Added Tax Act, 2003 was duly notified on March 15th, 2005 while the Assam Value Added Tax Rules, 2005, was notified on April 26th, 2005. Assam VAT Rates: The tax rate on the purchase and sale of goods are categorised into five schedules. The list of exempted … Continue reading “Assam VAT”
Read More7th Pay Commission Pay Matrix Table for Central Government Employees
The Pay Matrix has been a simple and easily comprehensible table which is also predictable and transparent. The stakeholders interacted with the 7th Pay Commission to place their demands which varied from a common treatment of similar cadres, common pay for entry-level employees, enhancement in the frequency of the Modified Assured Career Progression, transparent pay structure, and … Continue reading “7th Pay Commission Pay Matrix Table for Central Government Employees”
Read More7th Pay Commission
The Government of India is planning to implement the 7th Pay Commission’s recommendations by January 2017. Uttar Pradesh has already approved the 7th Pay Commission and has announced that it will be implemented by January 2017. Highlights of the recommendations of the 7th Pay Commission: Recommended minimum pay for government employees:Â The minimum pay of a … Continue reading “7th Pay Commission”
Read More7th CPC LTC Rules
Leave Travel Concession (LTC) is granted to Central Government employees for travel to various parts of the country and home as well. The number of home travel visits allowed are two. This is made available every four years. Demand for changes to benefits There have been several demands to increase the number of times LTC … Continue reading “7th CPC LTC Rules”
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