Take the life the way you go;
And remember you are born to live,
Not living because you are born;
Question in Exam:
Define LOVE and explain in details? (10 marks)
MBA Student's Ans:
"Love is Life.."
... (marks 1/2 out of 10)
Medical Student's Ans:
"Love is Pain.."
(marks 1/2 out of 10)
Engineering Student's Ans:
Definition:
A serious disorder of Heart due to Relationship
between Men & Women that can cause Death
of 1 or Both depending on the resistance associated..!!
TYPES:
1 sided
& 2 sided
AGE:
Usually occurs in teenagers,
but nowdays can be found in any age..!
SYMPTOMS:
Tension
Daydreaming
Insomnia
Phone Addiction
DIAGNOSIS BY:
Diary
Photos
Mobile
TREATMENT:
Anti-LOVE therapy by Father's Shoe
or Mother's Sandle.. =P
(marks 10 out of 10)
MORAL:
Don't Play with Engineers,
they can do any thing for 10 marks...
तुलसी की जगह 'Money Plant' ने ले ली
चाची की जगह ने 'Aunt' ले ली
पिताजी जीते जी 'Dad' हो गए
आगे ओर भी है आप तो अभी से 'Glad' हो गए
भाई 'Bro' हो गया बहन 'Sis' हो गई
दादा दादी की हालत 'Tai Tai Fiss' हो गई
मुन्नी बिना कुछ किए 'Badnaam' हो गई
ऊपर से शीला भी 'Jawan' हो गई
TV की सास बहु मेँ साँप नेवले सा 'Rishta' है
पता नहीँ ये एकता कपूर औरत है या 'Farista' है
भारत-आस्टेलिया के मैच मेँ 'Condom' की एड आती है
देखना हे ये विज्ञापनो की 'Besharmi' कहाँ तक जाती है
जीती जागती माँ बच्चोँ के लिए 'Mummy' हो गई
घर की रोटी अब कैसे 'Achhi' लगे
5 रुपए की 'Maggi' जो इतनी 'Yummi' हो गई
दिन भर बेटा 'Chatting' ही नहीँ करता
रात मेँ मोबाइल पर 'Setting' भी करता है
बहुत दुखी हुँ मेँ......ये दिन देखकर टुट जाता हुँ
जब अपनो के द्वारा ही भारतीय सभ्यता का मजाक उडाया जाता है
The end of another financial year is drawing close and is a couple of months away. The words "income tax" start ringing a frantic bell towards the end of every financial year, and many questions arise. Please do note that it is best to be prepared in the beginning rather than the end of a financial year!
There are many tax components you need to be clear about and also figure out how to plan your investments to gain maximum returns as well as maximum tax benefits. One such tax component is the tax benefit you can claim from your house rent allowance. This article helps you understand how this works!
HRA (house rent allowance) is provided to salaried people under Section 10 (13A) of Income Tax Act, 1961, in accordance with rule 2A of Income Tax Rules. Self employed professionals are eligible for tax deductions under section 80GG of Income Tax Act, 1961.
Dependent factors
When you are calculating HRA for tax exemption you take into consideration four aspects which includes salary, HRA received, the actual rent paid and where you reside, i.e. if it is a metro or non-metro. If these aspects remain constant through the year, then tax exemption is calculated as a whole annually, if this is subject to change, as in a rent hike or shift in residence etc. then it is calculated on a monthly basis.
The place of residence is significant in HRA calculation as for a metro the tax exemption for HRA is 50% of the basic salary while for non-metros it is 40% of the basic salary.
On paying rent
It is not essential that you should pay rent only to a landlord to avail your HRA benefits. You can pay rent to your parents to claim tax benefits. However, they need to account for the same under `Income from house/property' and will be entitled to pay tax for the same.
Remember you cannot try the same with your spouse, as it is not permissible under income tax law, as you are expected to reside together for all practical purposes.
You need to submit proof of rent paid through rent receipts, for which only two need to be submitted, one for the beginning of the year and one towards the end of the financial year. It should have a one rupee revenue stamp affixed with the signature of the person who has received the rent, along with other details such as the rented residence address, rent paid, name of the person who rents it etc.
How is HRA calculated
To figure out how much HRA exemption you are eligible for, consider these three values which includes a. The actual rent allowance the employer provides you as part of your salary, b. the actual rent you pay for your house from which 10% of your basic pay is deducted, c. 50% of your basic salary when you reside in a metro or 40% if you reside in a non-metro.
The least value of these three values is allowed as tax exemption on your HRA. You can discuss restructuring your pay structure with your employer in order to avail the most of your HRA tax benefit.
Here is a sample illustration for your understanding:
Sheetal earns a basic salary of Rs. 40,000 per month and rents an apartment in Delhi for Rs. 20,000 per month (hence eligible for a 50% of the basic pay for HRA exemption). The actual HRA she receives is Rs. 25,000.
These values are considered to find out her HRA tax exemption:
a. Actual HRA received, i.e. Rs. 25,000,
b. 50% of the basic salary, i.e. Rs. 20,000, and
c. Excess of rent paid over 10% of salary, i.e. Rs. 20,000 — Ra 4,000 = Rs. 16,000
The value considered for her actual HRA exemption will be the least value of the above figures. Hence, the net taxable HRA for Sheetal will be Rs. 25,000 — 16,000 (available HRA deduction) = Rs. 9,000.
Availing tax benefits on your home loan and HRA
As long as you are paying rent for an accommodation, you can claim tax benefits on the HRA component of your salary, while also availing tax benefits on your home loan. This could be the case if your own home is rented out or you work from another city etc. However, you need to account for any rental income you receive from the property you own.
* Source: http://in.finance.yahoo.com
If the world was ruled by women, there would be no war... Just a couple of nations not talking to each other
Is zamaane mein wafa ki talaash na kar,
Wo daur aur tha jab makaan kachhe aur log sachhe hua karte the...
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Feel privileged that you are like candle that comes to their mind when there is darkness all around...