Question: How is the perquisite for hotel accommodation provided to employees valued according to the Income-Tax Act, 1961? Response given by CA (Dr.) Suresh Surana: When an employer provides accommodation to an employee in a hotel, except when the employee’s stay is for a period not exceeding 15 days due to a transfer, the value
The Elan Group has signed Ramada Encore by Wyndham with AS Hotels & Residences Private Limited to launch the hotel at Elan Miracle Mall, located in Sector 84, Gurugram. Strategically positioned within Elan Miracle, a premium commercial destination, Ramada Encore Hotel by Wyndham will cater to both business and leisure travellers. The Elan Group has
The recent decision by the Uttar Pradesh Government to require the registration of builder-buyer agreements upon the payment of 10% of the flat’s price has raised considerable apprehension among both buyers and developers. Homebuyers are obligated to pay a percentage of the property’s value as stamp duty to ensure its registration in government records. Additionally
Wealth tech platform Nivesh has announced the acquisition of Wealthzi, a wealth platform operated by Lime Internet Private Limited. This is an important step for the company towards its goal of becoming a 360O platform taking care of complete investment and insurance-related needs of its customers. Nivesh was founded in 2016 by Anurag Garg and
India’s largest private sector lender HDFC Bank on Thursday hiked lending rates by 5 bps for short-term tenors. This increase in marginal cost of funds based lending rates (MCLR) applies to overnight, one month and three-year tenures. After this revision, the overnight MCLR rose to 9.15% from 9.10% earlier, one-month MCLR increased to 9.20% from
When it comes to transferring money, we all try to be careful. We often check and double-check every detail before hitting the ‘send’ button. But we’re human, right? Mistakes do happen. A simple miscalculation or an unintended keystroke can result in your hard-earned funds being transferred to an incorrect bank account. So, what do you
A number of banks have raised the interest rates associated with their fixed deposits during the festive period and some of them have also come out with special FD schemes to lure customers. Therefore, this seems to be an opportune moment for people to explore fixed deposit investments. A fixed deposit (FD) presents an attractive
The Department of Pension and Pensioners’ Welfare (DoPPW) has issued new guidelines to help government employees who are unable to submit their pension forms due to health challenges. The updated instructions provide a clear process for handling such cases, ensuring that employees and their families do not face unnecessary delays in receiving pension benefits, according
Mphasis reported a sequential revenue growth of 0.8% to Rs 3,561.3 crore and a net profit of Rs 427.9 crore, up 1.1%, for the quarter ended December. “We continue to stay focused on driving deal activity and closures, as we get on the other side of the macro cycle. AI is driving a fundamental shift
Thyrocare on Thursday announced its financial results for the quarter and nine months ended December 31, 2024. According to the company’s statement, the diagnostics major reported revenue of Rs. 165.9 Cr in Q3FY25 with a growth of 23 percent YoY. According to the company’s statement, Thyrocare’s consolidated revenue increased by 23% year-over-year (YoY) with Pathology
Gold prices rose Rs 170 to hit a fresh record high of Rs 82,900 per 10 grams in the national capital on Thursday amid a positive global trend, according to the All India Sarafa Association. The precious metal had closed at Rs 82,730 per 10 grams on Wednesday. In about one year, the precious metal
Good news for taxpayers! The Finance Ministry has made some changes to the Direct Tax Vivad Se Vishwas Scheme, 2024, removing “difficulties” that arose due to certain situations for taxpayers. This update in the scheme will bring relief to taxpayers who wanted to apply for the scheme but could not do so earlier. “CBDT…makes the
United Spirits, which makes Smirnoff vodka, on Thursday reported a profit of Rs 335 crore for the third quarter of FY25, posting a decline of 4.29 per cent in comparison to Rs 350 crore during the corresponding quarter of previous financial year. It posted revenue from operations at Rs 7,732 crore, reporting a growth of
