cobbjackson

[cobbjackson]

Who is eligible for 80EE and 80EEA?

The deduction under this section is available only to individuals. This deduction is not available to any other taxpayer. Thus, if you are a HUF, AOP, partnership firm, company, or any other kind of taxpayer, you cannot claim any benefit under this section.First-time home buyers can claim deductions under Section 80EEA, if: *The loan has been taken from a bank or housing finance company. *The stamp duty value of property is up to Rs 45 lakhs. *They are not claiming deductions under Section 80EE.

https://thefundadvisor.com/tag/80ee-deduction-for-ay-2021-22/

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advantages and disadvantages of recurring deposit

In a recurring deposit scheme, the investor deposits a set amount every month over a predefined tenure which generally varies between one year to five years. The recurring deposit scheme has one major differentiating point when compared to fixed deposits - in a fixed deposit scheme, the investor has to deposit a lump sum once and leave it untouched for a period of time. So, people who do not have a lump sum or people who are looking to invest a set amount every month usually prefer Recurring Deposits.

https://thefundadvisor.com/what-is-recurring-deposit-advantages-disadvantages-types-of-recurring-deposit/

[cobbjackson]

Is food voucher taxable?

However, there is a big exception. Employer-provided meals are tax-free to the employee and 100% deductible by the employer if they are provided: on the employer's business premises, and. for the convenience of the employer.Are coupons taxable income? Retailer coupons do not result in compensation from a third party and are excluded from your total taxable sales unless your customer has previously given you compensation for the coupon.

https://thefundadvisor.com/tag/food-coupons-tax-exemption-under-section-10/

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What is a Relocation Policy?

A relocation occurs when you move to another city or state for a job and must leave behind your present life; your home, family and friends. People relocate for jobs every day for a variety of reasons. A relocation takes a lot of thought and planning. Fortunately, you can take certain steps to evaluate whether a job-related move is right for you. And, if it is, you can begin to plan for your next home.

Many relocations occur when companies transfer employees to other cities. A company might decide to consolidate operations in one facility, and if you still want your job, you must relocate.

https://thefundadvisor.com/income-tax-exemption-on-relocation-allowance/

[cobbjackson]

how to claim food coupons tax exemption

Meal coupons are provided by the employer on an amount calculated for two meals per working day. The annual allowance for meal coupons works out to be Rs 26,400 and is tax-exempt in the hands of the employee.With respect to the other components, the employee has to submit proof of incurring the corresponding expense to the employer. Upon submission of the proof, the employer calculates the tax exemption on the allowance.

https://thefundadvisor.com/tag/food-coupons-tax-exemption-under-section-10/

[cobbjackson]

HDFC Recurring Deposit

HDFC Bank offers recurring deposit under two schemes – Regular Recurring Deposit and NRE Recurring Deposit. You can get an interest rate ranging from 6.25% to 7.40% on the deposited amount. Senior citizens can get an 0.50% additional interest rate on the deposit. HDFC recurring deposit also lets you enjoy additional benefits like grace facility of 5 days, no TDS (Tax Deductible at Source) on the interest rate, and so on.

https://thefundadvisor.com/tag/premature-withdrawal-of-recurring-deposit-hdfc/

[cobbjackson]

Terms for Claiming Section 80EE Deductions

Only individual taxpayers can claim deduction under Section 80EE on properties purchased either singly or jointly. If an individual has bought a property jointly with his or her spouse and they are both paying the instalments of the loan, then the two can individually claim this deduction. This must be the first house that the taxpayer has purchased. he value of the house should be Rs. 50 lakhs or less. The home loan availed should be Rs. 35 lakhs or less. Section 80EE allows deduction only for the interest portion of a home loan.v

https://thefundadvisor.com/tag/difference-between-80ee-and-80eea/

[cobbjackson]

Section 80CCD : National Pension Scheme

Section 80CCD(1B) specifically deals with contributions made by an individual (employee or self employed) to pension schemes as notified by the central government. This section provides additional deduction of Rs 50,000 over and above 80C limit of Rs 1.5 lakh. Which mean an individual can claim total deduction of Rs 2 lakh by making investments in 80C and contribution for national pension scheme u/s 80CCD(1

https://thefundadvisor.com/tag/80ccd2-clarification-by-income-tax-department/

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Books And Periodicals Allowances Use for

Car lease and reimbursement expenses: If company-owned cars are leased to you, you can use the allowance to save tax. Right from the expenses incurred for the provision of a company-leased car to reimbursement of the day-to-day running expenses of the car, including fuel charges and driver’s salary—all qualify for tax deduction for an employee. So, opting for your own car should not be a priority if your company is offering you to choose between the self-owned and the company-leased car.

https://thefundadvisor.com/tag/professional-pursuit-allowance/

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Example Of Food Coupon Allowance

Let’s think that if an employee consumes two meals a day using meal vouchers during a working day and works for 25 days during a month. Then meal vouchers are often tax-exempt only to the extent of Rs 2,500 per month (Rs. 50 per meal x 2 x 25 days). Now meals are often either breakfast, lunch, or dinner. It is also important to note that the meal vouchers issued to employees are non-transferable and can be used at restaurants and other eateries.

https://thefundadvisor.com/tag/sodexo-food-coupons-tax-exemption-under-section/

[cobbjackson]

What Do You Mean By Zero-based budgeting?

Zero-based budgeting (ZBB)  is a method that starts doing budgets from the “zero Basis”. In this method, all Expenses must be justified and verified in each new period. This method is equally applicable for the various sorts of campaigns and individual use and families as well. Although these sorts of budgets are very much effective for keeping an eye over the monetary needs and records per se.

https://thefundadvisor.com/tag/zero-based-budgeting-upsc/

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What Are The Books And Periodicals Exemption Sections?

Employees can claim reimbursement of expenses incurred on books, newspaper subscriptions, periodicals, journals, and so on. The maximum sum of reimbursement is limited to the sum provided for books and periodicals in CTC. Many taxpayers are submitting fake bills to claim this allowance or to claim HRA, LTA, etc. In addition, the new income tax return (ITR) form will help identify such cases through computer-based processing, a highly-placed tax official told India Today on condition of anonymity.

https://thefundadvisor.com/books-and-periodicals/

[cobbjackson]

The Benefit Of a Company Leased Car To An Employee?

Yes, Company leased car is beneficial. Corporate leasing usually follows the operating lease model for which you must either return the car to the lessee or purchase it at the prevailing market price at the end of the lease term. The finance lease model transfers ownership of the car to your name at the end of the term

https://thefundadvisor.com/company-leased-car/

[cobbjackson]

The Benefit Of a Company Leased Car To An Employee?

If the lease rental of the car is part of your salary package, it means the lease amount would be reduced from your salary before taxes are paid, thereby reducing your taxable income and giving you a considerable tax advantage as compared to someone who hasn't opted for this benefit.

https://thefundadvisor.com/company-leased-car/

[cobbjackson]

Features Of Recurring Deposit

RD saving schemes aim at increasing saving habits in people. However, the minimum amount that you can deposit in a recurring deposit depends from bank to bank. The minimum amount you can deposit is Rs 10. Flexibility to invest monthly. The tenure of RD starts from 6 months and has a maximum of 10 years. The Recurring Deposit can be funded periodically through Standing Instructions which are the instructions given by the customer to the bank to credit the Recurring Deposit account every month from his/her Savings or Current account.

https://thefundadvisor.com/what-is-recurring-deposit-advantages-disadvantages-types-of-recurring-deposit/

[cobbjackson]

Books and Periodicals

Through books and periodical allowances, the employee can claim reimbursement over expenses sustained on newspapers, books, magazines, etc.

Reimbursement for these things is tax-free for employees. These reimbursements are tax-free for employees. The maximum amount of reimbursement is limited to The Actual bill amount or Amount provided for this in CTC whichever is lower

https://thefundadvisor.com/books-and-periodicals

[cobbjackson]

Dechoker Anti Choking Device: Reviews and Results 2021

Dechoker Anti Choking Device is an anti-choking device small enough to keep with a first-aid kit. The adult-sized unit is designed for ages 12 and up. The Dechoker uses powerful suction to remove fluid and materials from the airway. It works in seconds and is easy to use on yourself or someone else.

https://furrybeings.home.blog/2021/12/07/dechoker-anti-choking-device-reviews/