The term depreciation denotes a decline in the value of an asset due to use / wear and tear / obsolescence. There are two methods generally used for calculation of depreciation of asset in financial accounting:
What is service Tax?
It is a tax on Services, levied on the transaction of certain services, mentioned by the Central Government, under the Finance Act, 1994. According to the provisions…
How to calculate Loss/Income from House Property India?
The Income / loss from a House Property in India is calculated as per the provisions of Income Tax Act, and it is…
What is capital gain?
The Term ‘Capital Gain’ finds it’s application in Income Tax Act. Income earned as gain on sale of asset is taxed under the provisions of Income Tax…
Employee Provident Fund
Applicability: It is applicable to every establishment which employed 20 or more than 20 workers. However the central Government has the right to apply the act to any…
Organisations invest millions of rupees each year in automating their business processes and operations. Consequently, electronic documentation is being brought into industrial practice by organizations ranging from healthcare, engineering, government…
Depreciation Rates as per Income Tax Act fot Assessment Year 2012-13
Reference the study on Depreciation in the previous article, we are providing a table on various Depreciation Rates, as per…
There are many types of investments prevalent in investment market. Almost of them will certify a protected and guaranteed financial future. Although, making Investment may not be a rocket science,…
Tax Deduction at Source (TDS) rates applicable to Financial Year 2011-12 (assessment Year 2012-13) are following:
Know More about Tax Deduction at Source
*Note: Single payment / credit more than Rs.…
List of Gold Rates (24 Carats)
Date
Rate per 10 grams (Rs.)
% of +/- from last Year
Date
Rate per 10 grams (Rs.)
% of +/- from last Year
01-04-1981
1670
-
31-3-1997
4725
-8.43%
31-3-1982
1645
-1.50%
31-3-1998
4045
-14.39%
31-3-1983
1800
9.42%
31-3-1999
4235
4.70%
31-3-1984
1975
9.72%
31-3-2000
4380
3.42%
31-3-1985
2130
7.85%
31-3-2001
4190
-4.34%
31-3-1986
2140
0.47%
31-3-2002
5010
19.57%
31-3-1987
2570
20.09%
31-3-2003
5310
5.99%
31-3-1988
3130
21.79%
31-3-2004
6065
14.22%
31-3-1989
3140
0.32%
31-3-2005
6180
1.90%
31-3-1990
3200
1.91%
31-3-2006
8490
37.38%
31-3-1991
3466
8.31%
31-3-2007
9395
10.66%
31-3-1992
4334
25.04%
31-3-2008
12125
29.06%
31-3-1993
4140
-4.48%
31-3-2009
15105
24.58%
31-3-1994
4598
11.06%
31-3-2010
16320
8.04%
31-3-1995
4680
1.78%
31-3-2011
20775
27.30%
31-3-1996
5160
10.26%
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