OUR OWN PUBLICATION FROM 1ST JULY, 2018 FOR B.COM

1. B.COM FIRST SEMESTER COMPLETE NOTES (CHOICE BASED) WITH SOLVED FINANCIAL ACCOUNTING BOOK
2. B.COM 3RD SEM COMPLETE NOTES WITH SOLVED BOOKS OF:
*ADVANCED FINANCIAL ACCOUNTING
*BUSINESS STATISTICS SOLVED PAPERS OF LAST 7 YEARS
* FINANCIAL MANAGEMENT BOOK
3. B.COM 5TH SEMESTER COMPLETE NOTES WITH SOLVED BOOKS OF MANAGEMENT ACCOUNTING OF JAIN AND NARANG

Saturday, October 26, 2013

UGC - NET: Commerce (08)

 Valuation of Rent free furnished/unfurnished accommodation or House at concessional rent

A. For govt. employee: License fees fixed by government + 10% of cost of furniture or hire charges Less amount recovered from employee.

B. For non. Government employee:

Population
Owned by employer
Hired by employer
If population is < 10 lakhs
If population is >10 lakhs but < 25 lakhs
If population is> 25 lakhs
7.5% of salary
10% of salary
15% of salary
Actual hire charges or 15% of salary whichever is less.
If furnished
Add 10% of cost or hire charges
Add 10% of cost or hire charges
If concessional house
Deduct amount recovered from employee
Deduct amount recovered from employee
Hotel accomodation (more than 15 days)
24% of salary or actual expenses whichever is lower
24% of salary or actual expenses whichever is lower
Meaning of salary
Basic + DP + DA which enters + fee + commission of all types + statutory bonus + all fully taxable allowance + salary in lieu of leave for current year but does not include arrears advance perquisites, provident fund excess, gratuitous bonus.