https://www.infoq.com/news/2018/08/purnama-impact-integrated

News related with Commerce Optional

Join Soon @commerceoptional

🏆Best Telegram Channel🏆
✅Best channel for UPSC mains 2018 &Prelims and Mains 2019 ✅

✅For One stop Solution For UPSC

Join 🔜 @civilservicegurukul

✅For UPSC prelims 2019 and Mains 2018.

✅Join 🔜 t.me/missionias18


✅For commerce optional UPSC channel - Join 🔜

t.me/commerceoptional

✅For Indian Economy
Join 🔜 t.me/economyupsc

✅For knowledge sharing platform for CA , CS , CWA and Commerce and UPSC
Channel- Join 🔜 t.me/commerce_commercegurukul

And

✅ For CA final and CA IPCC

t.me/bharatgurukul


✅For Motivation and Spirituality
Join🔜 t.me/dhyaana

✅For tax , GST & Business Consultancy
Join🔜 t.me/dhananjayco

 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.
JOIN SOON @COMMERCEOPTIONAL

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
The post NCERT Claa 11Accountancy Chapter 5 Bank Reconciliation Statement (http://civilservicegurukul.com/2018/09/05/ncert-claa-11accountancy-chapter-5-bank-reconciliation-statement/) appeared first on Civil Service Gurukul (http://civilservicegurukul.com/).

NCERT Class 12 Accountancy Chapter-5 Dissolution of Partnership Firm
http://civilservicegurukul.com/2018/09/05/ncert-class-12-accountancy-chapter-5-dissolution-of-partnership-firm/

600,027 total views, 27 views today
The post NCERT Class 12 Accountancy Chapter-5 Dissolution of Partnership Firm (http://civilservicegurukul.com/2018/09/05/ncert-class-12-accountancy-chapter-5-dissolution-of-partnership-firm/) appeared first on Civil Service Gurukul (http://civilservicegurukul.com/).

NCERT Class 11 Accountancy Chapter-7 Depreciation, Provisions and Reserves
http://civilservicegurukul.com/2018/09/05/ncert-class-11-accountancy-chapter-7-depreciation-provisions-and-reserves/

600,039 total views, 39 views today
The post NCERT Class 11 Accountancy Chapter-7 Depreciation, Provisions and Reserves (http://civilservicegurukul.com/2018/09/05/ncert-class-11-accountancy-chapter-7-depreciation-provisions-and-reserves/) appeared first on Civil Service Gurukul (http://civilservicegurukul.com/).

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-2/

600,021 total views, 21 views today
The post 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-2/) appeared first on Civil Service Gurukul (http://civilservicegurukul.com/).

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
The post NCRET Class-11 Accountancy Chapter-1-Introduction to Accounting (http://civilservicegurukul.com/2018/09/05/ncret-class-11-accountancy-chapter-1-introduction-to-accounting/) appeared first on Civil Service Gurukul (http://civilservicegurukul.com/).

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/

600,033 total views, 33 views today
The post 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/) appeared first on Civil Service Gurukul (http://civilservicegurukul.com/).

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
The post 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/) appeared first on Civil Service Gurukul (http://civilservicegurukul.com/).

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/

600,024 total views, 24 views today
The post 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/) appeared first on Civil Service Gurukul (http://civilservicegurukul.com/).

NCERT Class11 Accountaercy Chapter-1 Introduction to Accounting
http://civilservicegurukul.com/2018/09/05/ncert-class11-accountaercy-chapter-1-introduction-to-accounting/

600,036 total views, 36 views today
The post NCERT Class11 Accountaercy Chapter-1 Introduction to Accounting (http://civilservicegurukul.com/2018/09/05/ncert-class11-accountaercy-chapter-1-introduction-to-accounting/) appeared first on Civil Service Gurukul (http://civilservicegurukul.com/).

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/

600,026 total views, 26 views today
The post 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/) appeared first on Civil Service Gurukul (http://civilservicegurukul.com/).

 Instructional System Development Model/ ADDIE Model
http://gurukulkendra.com/?p=762

Principles of Training
http://gurukulkendra.com/?p=757

Types of Training Evaluation
http://gurukulkendra.com/?p=754

Barriers to Effective Training
http://gurukulkendra.com/?p=748

SALARY,PERQUISITE AND PROFITS IN LIEU OF SALARY (SECTION 17)
https://commercegurukulca.blogspot.com/2018/09/salaryperquisite-and-profits-in-lieu-of.html



SALARY, PERQUISITE AND PROFITS IN LIEU OF SALARY (SECTION 17)

(1) Meaning of Salary

The meaning of the term ‘salary’ for purposes of income tax is much wider than what is normally
understood. The term ‘salary’ for the purposes of Income-tax Act, 1961 will include both monetary
payments (e.g. basic salary, bonus, commission, allowances etc.) as well as non-monetary facilities
(e.g. housing accommodation, medical facility, interest free loans etc.).
Section 17(1) defined the term “Salary”. It is an inclusive definition and includes monetary as well
as non-monetary items.

Wages

In common parlance, the term “wages” means fixed regular payment earned for work or
services. The words “wages”, “salary”, “basic salary” are used interchangeably. Moreover, the
payments in the form of Bonus, Allowances etc. made to the employee are also included within
the meaning of salary.

Under the Income-tax Act, there are certain payments made which are fully taxable, partly
taxable and fully exempt. For Example, wages, salary, bonus, dearness allowance etc. are fully
taxable payments. Whereas monetary benefits in the form of allowances such as House Rent
Allowance, conveyance allowance etc. are partially taxable.

 Allowances

Different types of allowances are given to employees by their employers. Generally allowances
are given to employees to meet some particular requirements like house rent, expenses on
uniform, conveyance etc. Under the Income-tax Act, 1961, allowance is taxable on due or
receipt basis, whichever is earlier.