Collective bargaining is a term used to describe the procedure, whereby employers must attempt to reach an agreement regarding terms of employment and the working conditions of labour with the trade unions, instead of with individual workers.
Collective bargaining is a process of discussion and negotiation between an employer and a trade union culminating in a written agreement and the adjustment of problems arising under the agreement.
The Supreme Court of India has defined the process of collective bargaining as a technique by which, dispute as to conditions of employment is resolved amicably by agreement rather than coercion. Workers, who are generally represented by a trade union, use this medium to express their grievance about various issues such as wages and working conditions.
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Collective bargaining is a process of discussion and negotiation between an employer and a trade union culminating in a written agreement and the adjustment of problems arising under the agreement.
The Supreme Court of India has defined the process of collective bargaining as a technique by which, dispute as to conditions of employment is resolved amicably by agreement rather than coercion. Workers, who are generally represented by a trade union, use this medium to express their grievance about various issues such as wages and working conditions.
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Forwarded from COMMERCE AND ACCOUNTANCY (WithCommerceGurukul_bot)
CHARGEABILITY SECTION (22)
https://commercegurukulca.blogspot.com/2018/09/chargeability-section-22.html
CHARGEABILITY [SECTION 22]
(1) The process of computation of income under the head “Income from house property” starts
with the determination of annual value of the property. The concept of annual value and the
method of determination is laid down in section 23.
(2) The annual value of any property comprising of building or land appurtenant thereto, of which the
assessee is the owner, is chargeable to tax under the head “Income from house property”.
However, where the property is occupied for the purpose of any business or profession carried
on by him, the profit of which is chargeable to tax as profits or gains from business or
profession, the annual value of such property would not be chargeable to tax under the head
“Income from house property”.
https://commercegurukulca.blogspot.com/2018/09/chargeability-section-22.html
CHARGEABILITY [SECTION 22]
(1) The process of computation of income under the head “Income from house property” starts
with the determination of annual value of the property. The concept of annual value and the
method of determination is laid down in section 23.
(2) The annual value of any property comprising of building or land appurtenant thereto, of which the
assessee is the owner, is chargeable to tax under the head “Income from house property”.
However, where the property is occupied for the purpose of any business or profession carried
on by him, the profit of which is chargeable to tax as profits or gains from business or
profession, the annual value of such property would not be chargeable to tax under the head
“Income from house property”.
Forwarded from COMMERCE AND ACCOUNTANCY (WithCommerceGurukul_bot)
CONDITION FOR CHARGEABILITY
https://commercegurukulca.blogspot.com/2018/09/condition-for-chargeability.html
CONDITIONS FOR CHARGEABILITY
(1) Property should consist of any building or land appurtenant thereto.
(i) Buildings include not only residential buildings, but also factory buildings, offices, shops,
godowns and other commercial premises.
(ii) Land appurtenant means land connected with the building like garden, garage etc.
It may be noted that Income from letting out of vacant land is, however, taxable under the
head “Income from other sources”.
(2) Assessee must be the owner of the property
(i) Owner is the person who is entitled to receive income from the property in his own right.
(ii) The requirement of registration of the sale deed is not warranted.
(iii) Ownership includes both free-hold and lease-hold rights.
(iv) Ownership includes deemed ownership (discussed later in para 5.11)
(v) The person who owns the building need not also be the owner of the land upon which it
stands.
(vi) The assessee must be the owner of the house property during the previous year. It is
not material whether he is the owner in the assessment year.
(vii) If the title of the ownership of the property is under dispute in a court of law, the decision
as to who will be the owner chargeable to income-tax under section 22 will be of the
Income-tax Department till the court gives its decision to the suit filed in respect of such
property.
(3) The property may be used for any purpose, but it should not be used by the owner for the purpose of any business or profession carried on by him, the profit of which is
chargeable to tax.
The income earned by an assessee engaged in the business of letting out of properties on
rent would also be taxable as business income and not as income from house property
[Rayala Corporation (P) Ltd. v. Asstt. CIT (SC) (2016) 386 ITR 500].
(4) Property held as stock-in-trade etc.
Annual value of house property will be charged under the head “Income from house
property”, where it is held by the assessee as stock-in-trade of a business also.
However, the annual value of property being held as stock in trade would be treated as NIL
for a period of one year from the end of the financial year in which certificate of completion of
construction of the property is obtained from the competent authority, if such property is not
let-out during such period [Section 23(5)].
https://commercegurukulca.blogspot.com/2018/09/condition-for-chargeability.html
CONDITIONS FOR CHARGEABILITY
(1) Property should consist of any building or land appurtenant thereto.
(i) Buildings include not only residential buildings, but also factory buildings, offices, shops,
godowns and other commercial premises.
(ii) Land appurtenant means land connected with the building like garden, garage etc.
It may be noted that Income from letting out of vacant land is, however, taxable under the
head “Income from other sources”.
(2) Assessee must be the owner of the property
(i) Owner is the person who is entitled to receive income from the property in his own right.
(ii) The requirement of registration of the sale deed is not warranted.
(iii) Ownership includes both free-hold and lease-hold rights.
(iv) Ownership includes deemed ownership (discussed later in para 5.11)
(v) The person who owns the building need not also be the owner of the land upon which it
stands.
(vi) The assessee must be the owner of the house property during the previous year. It is
not material whether he is the owner in the assessment year.
(vii) If the title of the ownership of the property is under dispute in a court of law, the decision
as to who will be the owner chargeable to income-tax under section 22 will be of the
Income-tax Department till the court gives its decision to the suit filed in respect of such
property.
(3) The property may be used for any purpose, but it should not be used by the owner for the purpose of any business or profession carried on by him, the profit of which is
chargeable to tax.
The income earned by an assessee engaged in the business of letting out of properties on
rent would also be taxable as business income and not as income from house property
[Rayala Corporation (P) Ltd. v. Asstt. CIT (SC) (2016) 386 ITR 500].
(4) Property held as stock-in-trade etc.
Annual value of house property will be charged under the head “Income from house
property”, where it is held by the assessee as stock-in-trade of a business also.
However, the annual value of property being held as stock in trade would be treated as NIL
for a period of one year from the end of the financial year in which certificate of completion of
construction of the property is obtained from the competent authority, if such property is not
let-out during such period [Section 23(5)].
Forwarded from COMMERCE AND ACCOUNTANCY (WithCommerceGurukul_bot)
COMPOSITE RENT
https://commercegurukulca.blogspot.com/2018/09/composite-rent.html
COMPOSITE RENT
(1) Meaning of composite rent: The owner of a property may sometimes receive rent in respect of building as well as –
(i) other assets like say, furniture, plant and machinery.
(ii) for different services provided in the building, for e.g. –
(a) Lifts;
(b) Security;
(c) Power backup;
The amount so received is known as “composite rent”.
(2) Tax treatment of composite rent
Where composite rent includes rent of building and charges for different services (lifts,
security etc.), the composite rent is has to be split up in the following manner -
(i) the sum attributable to use of property is to be assessed under section 22 as income
from house property;
(ii) the sum attributable to use of services is to charged to tax under the head “Profits and
gains of business or profession” or under the head “Income from other sources”, as the
case may be.
(3) Manner of splitting up
If let out building and other assets are inseparable
Where composite rent is received from letting out of building and other assets (like furniture)
and the two lettings are not separable i.e. the other party does not accept letting out of
buildings without other assets, then the rent is taxable either as business income or income
from other sources, the case may be.
This is applicable even if sum receivable for the two lettings is fixed separately.
If let out building and other assets are separable
Where composite rent is received from letting out of buildings and other assets and the two
lettings are separable i.e. letting out of one is acceptable to the other party without letting out
of the other, then
(a) income from letting out of building is taxable under “Income from house property”;
(b) Income from letting out of other assets is taxable under the head “Profits and gains from
business or profession” or “Income from other sources”, as the case may be.
This is applicable even if a composite rent is received by the assessee from his tenant for the
two lettings.
https://commercegurukulca.blogspot.com/2018/09/composite-rent.html
COMPOSITE RENT
(1) Meaning of composite rent: The owner of a property may sometimes receive rent in respect of building as well as –
(i) other assets like say, furniture, plant and machinery.
(ii) for different services provided in the building, for e.g. –
(a) Lifts;
(b) Security;
(c) Power backup;
The amount so received is known as “composite rent”.
(2) Tax treatment of composite rent
Where composite rent includes rent of building and charges for different services (lifts,
security etc.), the composite rent is has to be split up in the following manner -
(i) the sum attributable to use of property is to be assessed under section 22 as income
from house property;
(ii) the sum attributable to use of services is to charged to tax under the head “Profits and
gains of business or profession” or under the head “Income from other sources”, as the
case may be.
(3) Manner of splitting up
If let out building and other assets are inseparable
Where composite rent is received from letting out of building and other assets (like furniture)
and the two lettings are not separable i.e. the other party does not accept letting out of
buildings without other assets, then the rent is taxable either as business income or income
from other sources, the case may be.
This is applicable even if sum receivable for the two lettings is fixed separately.
If let out building and other assets are separable
Where composite rent is received from letting out of buildings and other assets and the two
lettings are separable i.e. letting out of one is acceptable to the other party without letting out
of the other, then
(a) income from letting out of building is taxable under “Income from house property”;
(b) Income from letting out of other assets is taxable under the head “Profits and gains from
business or profession” or “Income from other sources”, as the case may be.
This is applicable even if a composite rent is received by the assessee from his tenant for the
two lettings.
https://www.infoq.com/news/2018/08/purnama-impact-integrated
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InfoQ
Arthur Purnama on Integrated IT and Organizational Transformation
Arthur Purnama will talk at the upcoming Agile Impact conference in Indonesia about his experiences helping organisations move towards integrated IT, and how the importance of understanding how people think, comprehend, and receive the message of change is…
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Best Channel for Commerce Optional student of UPSC( IAS) 2025 and 2026
Benefits
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2. Current affairs related with Commerce optional
3. Summary notes
4. Value added notes
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2. Current affairs related with Commerce optional
3. Summary notes
4. Value added notes
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Section 79 of the Act has been amended in order to provide that the provisions of Non Carry forward of loss will not be applicable in case of a Company whose resolution plan has been approved under Insolvency and Bankruptcy Code, 2016 (IBC, 2016).
For Example, If Loss relates to FY 2015-16 which is tested for set off in FY 2018-19, no testing is required to be made for 51% criteria in case of Companies under Insolvency.
Section 115JB of the Act has been amended in order to provide that in place of “Lower of Brought Forward Loss or Unabsorbed Depreciation”, “Aggregate of Brought Forward Loss and Unabsorbed Depreciation” will be allowed to a Company whose resolution plan has been approved.
This will benefit the acquisitions of Companies which are under the proceedings of IBC, 2016.
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For Example, If Loss relates to FY 2015-16 which is tested for set off in FY 2018-19, no testing is required to be made for 51% criteria in case of Companies under Insolvency.
Section 115JB of the Act has been amended in order to provide that in place of “Lower of Brought Forward Loss or Unabsorbed Depreciation”, “Aggregate of Brought Forward Loss and Unabsorbed Depreciation” will be allowed to a Company whose resolution plan has been approved.
This will benefit the acquisitions of Companies which are under the proceedings of IBC, 2016.
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Forwarded from Deleted Account
NCERT Claa 11Accountancy Chapter 5 Bank Reconciliation Statement
http://civilservicegurukul.com/2018/09/05/ncert-claa-11accountancy-chapter-5-bank-reconciliation-statement/
600,033 total views, 33 views today
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NCERT Class 12 Accountancy Chapter-5 Dissolution of Partnership Firm
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600,027 total views, 27 views today
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Civil Service Gurukul
NCERT Class 12 Accountancy Chapter-5 Dissolution of Partnership Firm - Civil Service Gurukul
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NCERT Class 11 Accountancy Chapter-7 Depreciation, Provisions and Reserves
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600,039 total views, 39 views today
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NCERT Class 11 Accountancy Chapter-7 Depreciation, Provisions and Reserves - Civil Service Gurukul
600,044 total views, 5 views today
NCERT Class 11 Accountancy Chapter-4 Recording of Transactions-II
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Civil Service Gurukul
NCERT Class 11 Accountancy Chapter-4 Recording of Transactions-II - Civil Service Gurukul
600,026 total views, 2 views today
Forwarded from E-Books 4 Exam
NCRET Class-11 Accountancy Chapter-1-Introduction to Accounting
http://civilservicegurukul.com/2018/09/05/ncret-class-11-accountancy-chapter-1-introduction-to-accounting/
600,018 total views, 18 views today
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Forwarded from E-Books 4 Exam
NCERT Class-11 Accountancy Chapter-3 Recording of Transactions-I
http://civilservicegurukul.com/2018/09/05/ncert-class-11-accountancy-chapter-3-recording-of-transactions-i/
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Forwarded from E-Books 4 Exam
NCERT Class-11 Accountancy Chapter-4 Recording of Transactions-II
http://civilservicegurukul.com/2018/09/05/ncert-class-11-accountancy-chapter-4-recording-of-transactions-ii/
600,018 total views, 18 views today
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NCERT Class-11 Accountancy Chapter-2 Theory Base of Accounting
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NCERT Class11 Accountaercy Chapter-1 Introduction to Accounting
http://civilservicegurukul.com/2018/09/05/ncert-class11-accountaercy-chapter-1-introduction-to-accounting/
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NCERT Class-11 Accountancy Chapter-2 Theory Base of Accounting
http://civilservicegurukul.com/2018/09/05/ncert-class-11-accountancy-chapter-2-theory-base-of-accounting-2/
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Instructional System Development Model/ ADDIE Model
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Instructional System Development Model/ ADDIE Model - Gurukul Kendra
Instructional System Development model was made to answer the training problems. This model is widely used now a day in the organization because it is concerned with the training need on the job performance. Training objectives are defined on the basis of…