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CA Student: ITT, OP and GMCS Courses Online Registration Portal on All India Basis

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CA Student: ITT, OP and GMCS Courses Online Registration Portal on All India Basis </h3>
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<img border="0" height="169" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjdmPR0ghuA9x_LmP6-CAhrvndDnPTU_gjGc3-KjfkBik-c9I1A6x3p3Bw7UDalFnku5Y08QVL0CcXvLU2TXIvNuDDVU4JSeGcCosm0OsR6SfR7qUk0rJ5nK6UV_D2Tel9Glo7FvukvpRLt/s1600/Screenshot_2.jpg" width="320" /></div>
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<span lang="EN-US">When a student is conducting the <b>Chartered Accountancy Course</b>, he /
she is required to undergo trainings such as ITT, OP and GMCS. Now, the
Institute of Chartered Accountants of India (ICAI) has provided the facilities
to the students that they can register online for getting admission in the
batches of the above said trainings. This online registration portal will
facilitate easy allocation of batches and students will not have to rush at the
branch of institute to know about the commencement of batches and their
registration status. The portal has been launched on 20<sup>th</sup> December,
2013 by the Board of Studies along with Directorate of IT.<o:p></o:p></span></div>
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<span lang="EN-US">Before moving forwards with the details of the online registration
portal let us see in brief about the courses supported by the online
registration portal:<o:p></o:p></span></div>
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<ul style="margin-top: 0cm;" type="disc">
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Orientation
     Programme (OP) – OP is a training course of 35 hours in which students are
     taught managerial skills which will enhance their personality by sharpening
     their communication skills, interpersonal skills and professional skills.<o:p></o:p></span></li>
</ul>
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<br /></div>
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<b><span lang="EN-US">Fees:</span></b><span lang="EN-US"> Rs. 3000/-.<o:p></o:p></span></div>
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<br /></div>
<ul style="margin-top: 0cm;" type="disc">
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Information
     Technology Training (ITT) – ITT training is mandatory for the CA students
     to learn new challenges provided by the technological world. ITT is a 100
     hours training which is succeeded by an exam to measure the knowledge of
     the student. Basic computer skills regarding Windows 7, MS-Office
     including Word, Excel, PowerPoint, Data Base Management Systems, Web
     Technology and System Security and E-Filing are enhanced in the students.
     This will be helpful for them to carry out the official work when they
     join the Articleship training. <o:p></o:p></span></li>
</ul>
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<b><span lang="EN-US">Fees:</span></b><span lang="EN-US"> Rs. 4000/-.<o:p></o:p></span></div>
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<br /></div>
<ul style="margin-top: 0cm;" type="disc">
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">General Management
     and Communications Skills (GMCS) – In GMCS< students are taught the
     master skills like General Management and Business Communication Skills,
     Presentation Skills, Group Discussion Skills, Client Interaction Skills,
     Legal document Preparation Skills etc. For the students conducting old CA
     Final Course, i.e. who have joined articleship training before 30<sup>th</sup>
     April, 2012 only one GMCS training is required while the students in new
     scheme i.e. who have joined articleship training after 30<sup>th</sup>
     April, 2014 have to undergo the training twice and is named as GMCS I and
     GMCS II. GMCS is a 15 days course. The time period for undergoing GMCS
     training for students in different schemes are as follows: <o:p></o:p></span></li>
</ul>
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<ul style="margin-top: 0cm;" type="disc">
 <ul style="margin-top: 0cm;" type="circle">
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">For Students in
      old scheme of CA Final course: The GMCS training is to be taken by the
      students after completion of 2 years of articleship training and before
      getting registered as a member. <o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">For students in
      New Scheme: GMCS I is to be completed in the 1<sup>st</sup> year of
      articleship training while the GMCS II is to be completed between 19<sup>th</sup>
      and 36<sup>th</sup> month of articleship training.<o:p></o:p></span></li>
</ul>
</ul>
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<b><span lang="EN-US" style="font-size: 16.0pt; mso-bidi-font-size: 11.0pt;">How to apply online for OP / ITT / GMCS for future
batches?<o:p></o:p></span></b></div>
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<ul style="margin-top: 0cm;" type="disc">
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Visit the online
     registration portal for registration in ITT / OP / GMCS setup by the
     Institute of Chartered Accountants of <st1:country-region w:st="on"><st1:place w:st="on">India</st1:place></st1:country-region> i.e. <a href="http://www.icaionlineregistration.org/index.html">http://www.icaionlineregistration.org/index.html</a>
     <o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Navigate the course
     you want to apply for from the list given on the left hand side of the
     home page<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Read the
     instructions and click on “Click here to Login” button<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">If you are new than
     click on the link “Register as student”<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Select your route
     and provide your registration number and proceed<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Now keep on filling
     the required details and you will get a confirmation link, click on that
     and your registration will be confirmed<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Now login and
     register for the training you require along with the place<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">You will be
     informed through mail about the batch as and when the same is started.<o:p></o:p></span></li>
</ul>
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<b><span lang="EN-US" style="font-size: 16.0pt; mso-bidi-font-size: 7.0pt;">How to apply online for OP / ITT / GMCS for existing
batches that are already announced / launched?</span></b></div>
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<ul style="margin-top: 0cm;" type="disc">
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Visit the online
     registration portal for registration in ITT / OP / GMCS setup by the Institute
     of Chartered Accountants of <st1:country-region w:st="on"><st1:place w:st="on">India</st1:place></st1:country-region> i.e. <a href="http://www.icaionlineregistration.org/index.html">http://www.icaionlineregistration.org/index.html</a>
     <o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Go to the course
     for which you want to apply and click on “Click here to login” button<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Login with your
     existing ID and password generated on registering with the site for the
     first time<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Click on the
     “Course Registration” option<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Select the region
     and course and click on “Get list” button<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">A list will appear
     for the different batches announced<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Register if the
     area where the GMCS is conducted is nearby to you<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">You will have to
     pay the course fees at concerned branch via demand draft or can also be
     paid online through payment gateway<o:p></o:p></span></li>
</ul>
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<b><span lang="EN-US" style="font-size: 16.0pt; mso-bidi-font-size: 11.0pt;">Advantages of online application portal for OP / ITT
/ GMCS for students<o:p></o:p></span></b></div>
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<ul style="margin-top: 0cm;" type="disc">
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Students will be
     able to register in countrywide batches<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Can get details of
     the batches announced for different courses<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Can pay their fees
     sitting at their place without visiting the branch<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Can give their
     feedback regarding the training on this portal so that if any problems are
     faced by the students, then the same can be solved<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">The portal also
     provides the facility of checking the waiting list when the batches are
     not announced<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Facility of
     transferring from one batch to another is also made available on this
     portal<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">It saves time for
     going and inquiring about starting of batch and getting registered and
     visiting again for paying fees at the branch<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Application for
     Certificates of the courses can also be made through this given portal<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">User Manual is made
     available for the students so that the students can easily make use of the
     online registration portal without any hinderence<o:p></o:p></span></li>
</ul>
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<b><span lang="EN-US" style="font-size: 16.0pt; mso-bidi-font-size: 11.0pt;">Use of online application portal for the Faculties<o:p></o:p></span></b></div>
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<ul style="margin-top: 0cm;" type="disc">
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">The portal is not
     only helpful for the students, but faculties can also apply through this
     portal for taking lectures in the courses <o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Faculties will be
     able to make changes in their application form as and when there are
     changes in their education and experience<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">As the portal
     avails the facility to the students to give their feedback regarding the
     training, faculties will be allowed to view the same and can learn to make
     the lectures more effectively<o:p></o:p></span></li>
</ul>
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<b><span lang="EN-US" style="font-size: 16.0pt; mso-bidi-font-size: 11.0pt;">Advantages of online application portal for the
Institute<o:p></o:p></span></b></div>
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<ul style="margin-top: 0cm;" type="disc">
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">The online database
     can be maintained for different batched that are launched<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Information can be
     made available online to the students when any new batch is launched<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US"> Computerization will reduce clerical work
     at the branches<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Can get faculties
     to take lectures in different courses online without any recruitment
     procedure<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Institute can
     maintain the database for receivables from branches for different batches
     launched<o:p></o:p></span></li>
</ul>
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<b><span lang="EN-US" style="font-size: 16.0pt; mso-bidi-font-size: 11.0pt;">For any Queries
regarding online portal / faculty registration following authorities can be
contacted:<o:p></o:p></span></b></div>
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<ul style="margin-top: 0cm;" type="disc">
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">CA. Atul Gupta,
     Central Council Member & Member BOS via his e-mail id <a href="mailto:atul@servicetax.net">atul@servicetax.net</a><o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Can contact Ranjit
     Sharma at <a href="mailto:ranjit.sarmah@icai.in">ranjit.sarmah@icai.in</a>
     or can make a call at 9810103611<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Via e-mail to Director
     of Board Of Studies at vijaykapur@icai.in <o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Or may write at <a href="mailto:indu@icai.in">indu@icai.in</a> Head, IT Directorate<o:p></o:p></span></li>
</ul>
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CA Student: ITT, OP and GMCS Courses Online Registration Portal on All India Basis

CA Student: ITT, OP and GMCS Courses Online Registration Portal on All India Basis When a student is conducting the Chartered Accou...

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Investment: Tips - Where to Invest Your Surplus Money

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Investment: Tips - Where to Invest Your Surplus Money</h3>
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<img border="0" height="168" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgsEUIxPhPgp1Vvv3cqTFuGDd6Or6rzRtM3Ld5CCKsyo1FxF4FXzgFnp1j8IrqbH6wmQhvwO-Kj4yOEk-UZiZqh-nBzsv6mLoH3qaYVSRkb_cIWuOjJaqx8z91ja1whcGkwjC6OzPbac3Ic/s1600/Screenshot_3.jpg" width="320" /></div>
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<span lang="EN-US">In easy
language Surplus Money is Your Total Income Less the expenses incurred by you.
The less you spend the money, the more you can save.  You can invest your Money at the following
places:<o:p></o:p></span></div>
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<br /></div>
<div class="MsoListParagraphCxSpFirst" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">      -<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><b><span lang="EN-US">When you have little
fund:</span></b><span lang="EN-US">
Deposit the part of your savings in bank and try to accumulate it as much as
you can.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpFirst" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US"><br /></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span><span style="font-family: 'Times New Roman', serif;"> </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><b><span lang="EN-US">When you have some
Fund:</span></b><span lang="EN-US">
Invest in Securities having nominal charges and very low purchase requirement with
maximum return and reinvestment plans so that you can increase the amount of
your investment.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US"><br /></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span><span style="font-family: 'Times New Roman', serif;"> </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><b><span lang="EN-US">When you have some
more Fund:</span></b><span lang="EN-US">
You can go for investing in mutual funds.</span><span lang="EN-US"><o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US"><br /></span></div>
<div class="MsoListParagraphCxSpLast" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span><span style="font-family: 'Times New Roman', serif;"> </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><b><span lang="EN-US">When you have more Fund:</span></b><span lang="EN-US"> You can go for
purchasing precious metal like gold, silver, etc. You can also go for down
payment for purchasing some capital asset.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span lang="EN-US"><span style="font-size: large;"><b>If we
consider the time factor you can invest in the following manner:</b></span><o:p></o:p></span></div>
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<br /></div>
<div class="MsoListParagraphCxSpFirst" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span><span style="font-family: 'Times New Roman', serif;"> </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><b><span lang="EN-US">Short Term
Investment:</span></b><span lang="EN-US">
In case of short term investment shares from open market are the best options.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpFirst" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US"><br /></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span><span style="font-family: 'Times New Roman', serif;"> </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><b><span lang="EN-US">Medium Term Investment:</span></b><span lang="EN-US"> When you are
planning for a medium term borrowing, you can choose options like mutual funds,
Down payment for purchasing Capital Assets, Purchasing precious metals and
buying some bonds with medium lock-in period.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US"><br /></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span><span style="font-family: 'Times New Roman', serif;"> </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><b><span lang="EN-US">Long Term Investment:
</span></b><span lang="EN-US">There
is a huge deal in planning for long term investments. There are many options
when you consider the long term investments. They are:<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 72pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">  
</span></span><span lang="EN-US">Purchasing Immovable Property<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 72pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">  
</span></span><span lang="EN-US">Purchasing Government Bonds<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 72pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">  
</span></span><span lang="EN-US">You can opt for depositing your money in a Fixed Deposit
Account with the bank. This is the safest mode ever.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 72pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">  
</span></span><span lang="EN-US">You can go for paying a onetime premium for future policies.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 72pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">  
</span></span><span lang="EN-US">You can also opt for starting a new business by investing
your surplus money.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 18pt; text-indent: -18pt;">
<span style="font-size: large;"><b><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">v<span style="font-family: 'Times New Roman';">  </span></span></b></span><span lang="EN-US"><span style="font-size: large;"><b>Points to be kept in
mind while planning for investment:</b></span><o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 18pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US"><br /></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span><span style="font-family: 'Times New Roman', serif;"> </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><b><span lang="EN-US">Availability of surplus:
</span></b><span lang="EN-US">When
you decide to invest in any security, property, etc you must be firm about the
source of surplus i.e. from where are you going to get the surplus amount for
investment.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span><span style="font-family: 'Times New Roman', serif;"> </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">Form a strategy about how the investment of your surplus can
help you earn most profit.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span><span style="font-family: 'Times New Roman', serif;"> </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><b><span lang="EN-US">Liquidity</span></b><span lang="EN-US">: The most important
point is you must take into consideration the liquidity factor. The cash
required for day to day activities and other emergencies must be kept aside
before making any investment.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span><span style="font-family: 'Times New Roman', serif;"> </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US"> Have the necessary
amount of fund to repay the borrowed amount if you have borrowed the fund.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span><span style="font-family: 'Times New Roman', serif;"> </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">When you are willing to go for short term investment, choose
the investments which are more liquid in nature.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span><span style="font-family: 'Times New Roman', serif;"> </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><b><span lang="EN-US">Risk Management: </span></b><span lang="EN-US">When you go for any
type of investment, first scan the market so that you can learn about the risk
associated with your investment. This will help you to choose investment
bearing least / negligible risk. After investing also keep watch on market
fluctuations so that if your investment are becoming risky, you can switch over
to less risky ones.<b><o:p></o:p></b></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span><span style="font-family: 'Times New Roman', serif;"> </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><b><span lang="EN-US">Diversification: </span></b><span lang="EN-US">Don’t invest all your
money in one investment option. Go for diversification. Diversify them by investing
a part of saving in short term, medium term and long term investments. This
will help in maintaining liquidity and earn handsome return on the investment.</span></div>
<br />
<div class="MsoListParagraphCxSpLast" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span><span style="font-family: 'Times New Roman', serif;"> </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">Also consider the Tax that will be attracted on your
investment income while you invest. This will help you save your tax.</span></div>
</div>

Investment: Tips - Where to Invest Your Surplus Money

Investment: Tips - Where to Invest Your Surplus Money In easy language Surplus Money is Your Total Income Less the expenses incurred...

+ Read more »

Comparison: Term Insurance V/s Life Insurance Policy

<div dir="ltr" style="text-align: left;" trbidi="on">
<br />
<h3 style="text-align: center;">
Comparison: Term Insurance V/s Life Insurance Policy</h3>
<div class="separator" style="clear: both; text-align: center;">
<img border="0" height="169" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjn2_bAyKu50-j-P_UHZF05yLUFWYBeQ4xj4f4lciyZOaevX8P-rMTZbxEIV0G8DHqDXOWBHxZIvs_ZEQoyAEE8TyQ38p79IcJ6wuH0NOwQKjvuKlM0Fbd_a2wVaypbVM_wDmGXjAOKhKbv/s1600/Screenshot_2.jpg" width="320" /></div>
<br />
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span lang="EN-US">Let us
start with defining both the terms which will give us a basic understanding for
the comparison.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b><span lang="EN-US">Term Insurance</span></b><span lang="EN-US">: Term Insurance is a
life insurance, which provides coverage at a fixed rate of payments for a
limited period of time.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b><span lang="EN-US">Whole Life Insurance</span></b><span lang="EN-US">: While in case of
Whole Life Insurance, the Whole Life Insurance is a life insurance policy that
remains in force for the insured’s whole life and requires premiums to be paid
every year into the policy.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b><span lang="EN-US">Let us see other points of
difference between Term Insurance and Whole Life Insurance:<o:p></o:p></span></b></div>
<div class="MsoListParagraphCxSpFirst" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 22.5pt; margin-right: 0cm; margin-top: 0cm; mso-add-space: auto; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">Term Insurance is for a specific term while Whole Life
Insurance is for the whole life; as the name suggests.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 22.5pt; margin-right: 0cm; margin-top: 0cm; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 22.5pt; margin-right: 0cm; margin-top: 0cm; mso-add-space: auto; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">Before buying Term Insurance or Whole Life Insurance, the
age of the policy buyer should be kept in mind. If you are younger in age, you
can buy Term Insurance which will give you a cover for a specific term. While
once you have became of an older age or nearer to that you should opt for Whole
Life Insurance.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 22.5pt; margin-right: 0cm; margin-top: 0cm; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 22.5pt; margin-right: 0cm; margin-top: 0cm; mso-add-space: auto; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">Compare surrender value provided by both Term Insurance and
Whole Life Insurance, and choose the one providing the higher surrender value
whenever you require withdrawing the same.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 22.5pt; margin-right: 0cm; margin-top: 0cm; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 22.5pt; margin-right: 0cm; margin-top: 0cm; mso-add-space: auto; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">Keep the liquidity concept in mind while selecting Term
Insurance or Whole Life Insurance. Term Insurance attracts less of your money
as compared to Whole Life Insurance, but if you want a Whole Life Insurance
cover, scan the market and get the cheapest policy that will not hinder your
liquidity.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 22.5pt; margin-right: 0cm; margin-top: 0cm; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 22.5pt; margin-right: 0cm; margin-top: 0cm; mso-add-space: auto; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">In case of Whole Insurance Policy, you have to choose the
insurance company that is long lasting, with sound financial capabilities and best
reviews since last 10 years as you pay for cover of whole life that may extend
to many years. While in the case of term Insurance, you do not have to consider
such matters as you get the cover for a specific period.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 22.5pt; margin-right: 0cm; margin-top: 0cm; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 22.5pt; margin-right: 0cm; margin-top: 0cm; mso-add-space: auto; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">A Whole Life Insurance cover extends upto 100 years or your
life span, while the Term Insurance is for a specific period.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 22.5pt; margin-right: 0cm; margin-top: 0cm; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 22.5pt; margin-right: 0cm; margin-top: 0cm; mso-add-space: auto; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">A whole life insurance also serves as an investment, as the
amount from premium which exceeds the amount that goes for the life insurance,
is transferred to savings. In case when the policy matures before the death of
a person, he receives the maturity value. While in case of term Insurance no
maturity benefit are available. That means you cannot receive any money paid by
you as a premium after the term of insurance expires.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 22.5pt; margin-right: 0cm; margin-top: 0cm; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 22.5pt; margin-right: 0cm; margin-top: 0cm; mso-add-space: auto; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">Let us understand the above with the help of an example: For
example X gets a term cover for 7 Years and pay premium Rs.5000 every year with
sum assured Rs.2,00,000. In case the 7 years are over, X will not receive
anything from the insurance company. But if X dies during the period of 7 years
under the cover of term insurance, his legal heirs will receive the sum assured
of Rs. 2,00,000. While in case of Whole Life Insurance the insured gets the
maturity value.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 22.5pt; margin-right: 0cm; margin-top: 0cm; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpLast" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 22.5pt; margin-right: 0cm; margin-top: 0cm; mso-add-space: auto; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">In case of Whole life Insurance, when a person receives the
maturity value during his life span, the saving part is taxable while if the
same is provided to his legal hires than the same is tax free. While in case of
Term Insurance there are no maturity benefits and so there is no tax.</span></div>
</div>

Comparison: Term Insurance V/s Life Insurance Policy

Comparison: Term Insurance V/s Life Insurance Policy Let us start with defining both the terms which will give us a basic understand...

+ Read more »

Cheque Return/Bounce: What are the reasons for cheque return or bounce?

<div dir="ltr" style="text-align: left;" trbidi="on">
<br />
<h3 style="text-align: center;">
Cheque Return/Bounce: What are the reasons for cheque return or bounce?</h3>
<div class="separator" style="clear: both; text-align: center;">
<img border="0" height="168" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiLqAps7s_C6vwoLqDRq3BgQTf7VFuk7c9dtNdN-DKDpSRBSy0Tp4U0kVWleT3m5gFGkKL9RmxJxlhE_kq2mOtEbcSaoZqjlq_PZBa-U7FIfaAEZ5B6Z1Gpoc3LSJf1WNcqvI3o1-akkHtT/s1600/Screenshot_9.jpg" width="320" /></div>
<br /><span style="text-align: justify;">First, let us
understand what the cheque is? Cheque is an order in written format given for
paying money from Bank Account. This service is provided by bankers to their
customers having their accounts with the bank. The cheque is a document and
looks as follows:</span><br />
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEikmN_pvp7Hj_Hm6xK9QCKpYBz4GAdT0A0ozQI_54O-L9D8Hbi6DzUTBXVbDe-dqEPo0TsKolC7TZfg-BtUavyVwx8k8Wla1Sik6F-e2VsoIdgfqB65ZXkuZhwXY7IZfnIlzvqPlfYm9QXZ/s1600/Tax+1.jpg" /></div>
<div class="MsoNormal" style="text-align: justify;">
<span lang="EN-US"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<b>There are four most important
fields in the cheque, they are:</b></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;">        
</span></span><span lang="EN-US">Drawer               :
Who writes the cheque<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;">        
</span></span><span lang="EN-US">Drawee              :
Bank to whom an order in  given for
paying  money<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;">        
</span></span><span lang="EN-US">Payee                 :
A person to whom money is to be paid<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;">        
</span></span><span lang="EN-US">Amount              :
Amount to be paid.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span lang="EN-US"><br /></span></div>
<div class="MsoNormal" style="text-align: center;">
<span lang="EN-US"><span style="font-size: large;"><b><u>Whole procedure for paying with
a cheque is:</u></b></span><o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span lang="EN-US"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
<img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgIfhwu8Sod9XJ_rx_uXDr57Jt_do4WfbDrr0J1I_NgZVsWHmvElD9Phz7CnOuwnaz0Zt_gNsN6Rg0vDlZ_dke-7Wl7Fk6hru9bkgTweDEooydTR-J98XsMLvq2KeU7Zi97OM2bWmhjThE5/s1600/Screenshot_8.jpg" /></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span lang="EN-US"><o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span lang="EN-US">The cheque is to be written very
clearly. Many a times if the Drawer fails to follow the terms and conditions of
payment by cheque, the cheque may be dishonored or returned by the bank.
Dishonor simply means that the Bank will not honor/ accept your cheque and the
payment will not be transferred from the drawers Account to the Payee’s
Account.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span lang="EN-US"><br /></span></div>
<div class="MsoNormal" style="text-align: center;">
<span lang="EN-US"><u><span style="font-size: large;"><b>The reasons of dishonor / return
of cheque are as follows:</b></span></u><o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<b><span lang="EN-US"><br /></span></b></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<b><span lang="EN-US"><span style="font-size: large;">Insufficient Funds:</span><o:p></o:p></span></b></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<span lang="EN-US"><br /></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<span lang="EN-US">The
first and foremost reason for the dishonor of the cheque can be lack of
sufficient fund in the bank account of the drawer. Proper care should be taken
every time paying someone by way of cheque that you have enough balance in your
account to meet the cheque amount.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<b><span lang="EN-US"><span style="font-size: large;">Clerical Mistakes:</span><o:p></o:p></span></b></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<span lang="EN-US"><br /></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<span lang="EN-US">Many
a time’s people may make clerical mistakes in writing a cheque which may result
in dishonor of cheque by the banks. Clerical Mistakes can be as follows:<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpFirst" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">      -<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><b><span lang="EN-US">Signature: </span></b><span lang="EN-US">The signature of the
drawer should be perfect and must be same every time. Still they may commit
some error by mistake which are as follows:<b><o:p></o:p></b></span></div>
<div class="MsoListParagraphCxSpFirst" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US"><br /></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 72pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">  
</span></span><span lang="EN-US">Signature Different from the one provided to the bank<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 72pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">  
</span></span><span lang="EN-US">Signature not done<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 72pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">  
</span></span><span lang="EN-US">Signature incomplete<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpLast" style="margin: 0cm 0cm 0.0001pt 72pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">  
</span></span><span lang="EN-US">Signature unreadable etc<o:p></o:p></span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 0.0001pt 54pt; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpFirst" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span><span style="font-family: 'Times New Roman', serif;"> </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><b><span lang="EN-US">Other Mistakes/Frauds:
</span></b><span lang="EN-US"><o:p></o:p></span></div>
<div class="MsoListParagraphCxSpFirst" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<b><span lang="EN-US"><br /></span></b></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 72pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">  
</span></span><span lang="EN-US">Payee name unreadable<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 72pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">  
</span></span><span lang="EN-US">Payee Account not found<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 72pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">  
</span></span><span lang="EN-US">Drawer Account not found<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpLast" style="margin: 0cm 0cm 0.0001pt 72pt; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<b><span lang="EN-US"><span style="font-size: large;">Other Mistakes:</span><o:p></o:p></span></b></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<b><span lang="EN-US"><br /></span></b></div>
<div class="MsoListParagraphCxSpFirst" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span><span style="font-family: 'Times New Roman', serif;"> </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><b><span lang="EN-US">Expired Cheque: </span></b><span lang="EN-US">The cheque is valid
for Three Months from its date. The date may have lapsed.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpFirst" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US"><br /></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><b><span lang="EN-US">Payment Stopped by
the Drawer: </span></b><span lang="EN-US">Drawer<b> </b>may stop payment in case where he comes
to know anything ambiguous.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US"><br /></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span><span style="font-family: 'Times New Roman', serif;"> </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><b><span lang="EN-US">Payment stopped by
any other authority:</span></b><span lang="EN-US"> such as Government, Court etc.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US"><br /></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span><span style="font-family: 'Times New Roman', serif;"> </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">In case where the cheque amount is to be paid from the
overdraft account, if the amount of cheque is more than the amount that can be
withdrawn by the drawer, then also Bank dishonors the Cheque.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US"><br /></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span><span style="font-family: 'Times New Roman', serif;"> </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">When the Account is closed and after that the Payee deposits
such cheque for clearance.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US"><br /></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span><span style="font-family: 'Times New Roman', serif;"> </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">When the Account of the drawer id blocked temporarily or
permanently in case the documents required for maintaining the account is not
submitted by the drawer.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US"><br /></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span><span style="font-family: 'Times New Roman', serif;"> </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">When the Drawer gives post dated cheque and the payee
deposits it before the same.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US"><br /></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span><span style="font-family: 'Times New Roman', serif;"> </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">Many a times the cheque is bearing no date such cheque are
also dishonored.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US"><br /></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span><span style="font-family: 'Times New Roman', serif;"> </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">Cheque may be dishonored when the Drawer is proved
insolvent.</span></div>
<br />
<div class="MsoListParagraphCxSpLast" style="margin-bottom: 0.0001pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span><span style="font-family: 'Times New Roman', serif;"> </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">When the drawer or any other person makes any changes in the
details once filled in the cheque, such alteration requires to be signed again
by the drawer. If the same is not complied with the cheque is returned.</span></div>
</div>

Cheque Return/Bounce: What are the reasons for cheque return or bounce?

Cheque Return/Bounce: What are the reasons for cheque return or bounce? First, let us understand what the cheque is? Cheque is an orde...

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House Property: Income from House Property Calculation

<div dir="ltr" style="text-align: left;" trbidi="on">
<br />
<h3 style="text-align: center;">
House Property: Income from House Property Calculation</h3>
<div class="separator" style="clear: both; text-align: center;">
<img border="0" height="168" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh11SYfc-7tVYPnRINsMqXu1rNUQqFzTLiC48e5rYqhULVEul6aYURLUC27KH0kTqynbEwzAP4bt2RDXqLBbLJUzkyJqbkIVsXjd_hggditRLAs-EmwQkZn5h69JZ57r8Dcb2VkeRqSEzQQ/s1600/Screenshot_7.jpg" width="320" /></div>
<br />
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<span lang="EN-US">Income
from house property is calculated in the manner provided in The Income Tax Act.
Calculation of Income from House property is done under the lights of section
22, 23, 24, 25, 25A, 25AA, 25B, 26 and 27 of the Income Tax Act. Income from
house property is charged to tax as per section 22 of the Income Tax Act, which
states as follows:<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<b><i><span lang="EN-US">22.</span></i></b><i><span lang="EN-US"> The annual value of
property consisting of any buildings or lands appurtenant thereto of which the
assessee is the owner, other than such portions of such property as he may
occupy for the purposes of any business or profession carried on by him the
profits of which are chargeable to income-tax, shall be chargeable to
income-tax under the head "Income from house property".<o:p></o:p></span></i></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<b><span lang="EN-US"><span style="font-size: large;">Explanation</span><o:p></o:p></span></b></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<b><span lang="EN-US"><br /></span></b></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<span lang="EN-US">There
are three conditions; fulfillment of which will consider the income as Income
from House Property:<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<span lang="EN-US"><br /></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<span lang="EN-US">1.
Assessee is the owner<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<span lang="EN-US">2.
The property should have a building or any land attached thereto.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<span lang="EN-US">3.
The property must not be used by the assessee for the purpose of his business
and profession.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<b><span lang="EN-US"><span style="font-size: large;">Points to be
considered while calculation Income from House Property:</span><o:p></o:p></span></b></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<br /></div>
<div class="MsoListParagraph" style="margin: 0cm 0cm 0.0001pt; text-align: justify; text-indent: 0cm;">
<span style="font-size: large;"><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">v </span></span><b><span lang="EN-US"><span style="font-size: large;">Annual Value of Property</span>: </span></b><span lang="EN-US">The annual value of house
property will be as follows:<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpFirst" style="margin: 0cm 0cm 0.0001pt 18pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><b><span lang="EN-US">Where the Property in
not let out: </span></b><span lang="EN-US">The
value at which the same house property can be rented / let out <o:p></o:p></span></div>
<div class="MsoListParagraphCxSpFirst" style="margin: 0cm 0cm 0.0001pt 18pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US"><br /></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 18pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><b><span lang="EN-US">Where the Property is
let out: </span></b><span lang="EN-US">There
can be many consequences such as;<b><o:p></o:p></b></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 45pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">   </span></span><b><span lang="EN-US">Property is Fully let out: <o:p></o:p></span></b></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 45pt; text-align: justify;">
<span lang="EN-US">Higher of, Actual Rent received
or the value at which the same house property can be rented / let out<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 45pt; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 45pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">   </span></span><b><span lang="EN-US">Property is Partly let out: <o:p></o:p></span></b></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 45pt; text-align: justify;">
<span lang="EN-US">Higher of, Actual Rent received
or the value at which the same part of house property can be rented / let out<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 45pt; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 45pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">   </span></span><b><span lang="EN-US">Property or any part of property is Vacant for whole year or
part of year:<o:p></o:p></span></b></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 45pt; text-align: justify;">
<span lang="EN-US">Lower of, Actual Rent received
or the value at which the same part of house property can be rented / let out<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 45pt; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 18pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">Where the Property includes some <b>unusable part</b> such as when it is used for the business &
Profession of the assessee or is used for his own residence than the value will
be taken as<b> Nil.</b></span><b><span lang="EN-US">                                                                                                                                                      </span></b></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 72pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">   </span></span><span lang="EN-US">The above will be
subject to condition that such part could not have been let out by the assessee
during any time of the previous year.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 72pt; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 18pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">Where the Property includes more than two houses the assessee
has to choose one for his own residential purpose, it will not attract the
sections of Income Tax Act to charge tax on it. <o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 18pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US"><br /></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 72pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">  
</span></span><span lang="EN-US">But the other which is not chosen as the residential house
by the assessee will attract the taxes on deemed income of let out if not
actually let out and on rent income if it is let out.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpLast" style="margin-bottom: 0.0001pt; text-align: justify;">
<br /></div>
<div class="tx" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 22.5pt; margin-right: 0cm; margin-top: 0cm; mso-list: l4 level1 lfo2; text-align: justify; text-indent: -22.5pt;">
<span lang="EN-US" style="font-family: Wingdings;"><span style="font-size: large;">v</span></span><span lang="EN-US" style="font-family: Wingdings; font-size: 11.0pt; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"> </span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">    When any Taxes are levied by a local
authority in respect of any property it shall always be deemed to include
service taxes and all such taxes are allowed as deduction when they are
actually paid. Thus the year in which such taxes are taxable is not taken into
consideration.<o:p></o:p></span></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<br /></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; mso-list: l4 level1 lfo2; text-align: justify; text-indent: 0cm;">
<span style="font-size: large;"><span lang="EN-US" style="font-family: Wingdings;">v </span></span><b><span lang="EN-US" style="font-family: Calibri, sans-serif;"><span style="font-size: large;">Deductions allowable on computation of Income from House Property:</span><span style="font-size: 11pt;"><o:p></o:p></span></span></b></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; mso-list: l4 level1 lfo2; text-align: justify; text-indent: 0cm;">
<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"><br /></span></b></div>
<div class="MsoListParagraphCxSpFirst" style="margin: 0cm 0cm 0.0001pt 18pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">30% of the Annual Value as calculated above<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 18pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">Interest payable when capital is borrowed for construction,
acquisition, repairs, renewal or reconstruction of such house property subject
to following conditions:<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 108pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">   </span></span><span lang="EN-US">Where the property includes
some unusable part such as when it is used for the business & Profession of
the assessee or is used for his own residence and the annual value will of
which will be taken as<b> </b>Nil<b> – Maximum Rs. 30,000</b><o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 108pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">   </span></span><span lang="EN-US">Where the property is
acquired or constructed using borrowing on or after 01.04.1999 and the
construction and / or acquisition is completed within three years from the end
of financial year in which capital is borrowed, i.e. capital borrowed on
01.02.2000, the end of financial year is 31.03.2001. so the construction and /
or acquisition must be complete on or before 31.03.2004 – <b>Maximun Rs. 1,50,000.</b><o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 108pt; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt -4.5pt; text-align: justify;">
<b><span lang="EN-US"><span style="font-size: large;">Explanation</span><o:p></o:p></span></b></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt -4.5pt; text-align: justify;">
<b><span lang="EN-US"><br /></span></b></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 18pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">Where the property has been acquired or constructed with borrowed
capital, the interest, if any, payable on such capital borrowed for the period
prior to the previous year in which the property has been acquired or
constructed shall be deducted in the following manner:<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 108pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">   </span></span><span lang="EN-US">equal instalments for
five years commencing from the same previous year.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 18pt; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 18pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">Deduction can only be claimed if the assessee can furnishes
a certificate, from the person to whom any interest is payable on the capital
borrowed, specifying the amount of interest payable by the assessee for the
purpose of such acquisition or construction of the property, or, conversion of
the whole or any part of the capital borrowed which remains to be repaid as a
new loan.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0.0001pt 18pt; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpLast" style="margin: 0cm 0cm 0.0001pt 18pt; text-align: justify; text-indent: -18pt;">
<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">New loan will mean the whole or any part of a loan taken by
the assessee after the capital borrowed, for the purpose of repayment of capital
borrowed prior to it.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<br /></div>
<div class="MsoListParagraph" style="margin: 0cm 0cm 0.0001pt 18pt; text-align: justify; text-indent: -18pt;">
<span style="font-size: large;"><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">v<span style="font-family: 'Times New Roman';">  </span></span><b><span lang="EN-US">Arrears of rent received</span></b></span><span lang="EN-US"><o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin: 0cm 0cm 0.0001pt 18pt; text-align: justify; text-indent: -18pt;">
<b><span lang="EN-US"><br /></span></b></div>
<div class="MsoNormal" style="margin: 0cm 0cm 0.0001pt 18pt; text-align: justify;">
<span lang="EN-US">When the assessee has
let out the house property being an owner and if he receives the rent which was
in arrears in any previous years, the chargeable amount under “Income from
House Property” will be calculated as follows:<o:p></o:p></span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 0.0001pt 18pt; text-align: justify;">
<span lang="EN-US">        <o:p></o:p></span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 0.0001pt 54pt; text-align: justify; text-indent: 18pt;">
<span lang="EN-US">Rent
received which was in arrears                                          
XXX<o:p></o:p></span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 0.0001pt 18pt; text-align: justify;">
<span lang="EN-US">Less:              30% of the Amount so received                                          <u>(XXX)<o:p></o:p></u></span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 0.0001pt 18pt; text-align: justify; text-indent: 18pt;">
<span lang="EN-US">                                                Income
from House Property             
XXX<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<br /></div>
<div class="tx" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; mso-list: l1 level1 lfo4; text-align: justify; text-indent: -18.0pt;">
<span style="font-size: large;"><span lang="EN-US" style="font-family: Wingdings;">v<span style="font-family: 'Times New Roman';">  </span></span></span><b><span lang="EN-US" style="font-family: Calibri, sans-serif;"><span style="font-size: large;">Property
owned by co-owners</span><span style="font-size: 11pt;"><o:p></o:p></span></span></b></div>
<div class="tx" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; mso-list: l1 level1 lfo4; text-align: justify; text-indent: -18.0pt;">
<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"><br /></span></b></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-bidi-font-weight: bold; mso-hansi-theme-font: minor-latin;">When there are more than one owner of one house property, the income will
not be considered as income of association of person but on individual share of
the asessee.<o:p></o:p></span></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<br /></div>
<div class="tx" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; mso-list: l6 level1 lfo3; text-align: justify; text-indent: -18.0pt;">
<span style="font-size: large;"><span lang="EN-US" style="font-family: Wingdings;">v<span style="font-family: 'Times New Roman';">  </span></span><b><span lang="EN-US" style="font-family: Calibri, sans-serif;">Certain definitions to understand the concept</span></b></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"><o:p></o:p></span></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<br /></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Owner of the House Property:</span></b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"> an individual who transfers
otherwise than for adequate consideration any house property to his or her
spouse, not being a transfer in connection with an agreement to live apart, or
to a minor child not being a married daughter, shall be deemed to be the owner
of the house property so transferred.<o:p></o:p></span></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<br /></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Deemed Owner as per section 27:<o:p></o:p></span></b></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">27</span></b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"> ii) the holder of an impartible estate shall be deemed to be the
individual owner of all the properties comprised in the estate <o:p></o:p></span></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<br /></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">27 </span></b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">(iii) a member of a co-operative society, company or other
association of persons to whom a building or part thereof is allotted or leased
under a house building scheme of the society, company or association, as the
case may be, shall be deemed to be the owner of that building or part thereof ;<o:p></o:p></span></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<br /></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">27</span></b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"> (iiia) a person who is allowed to take or retain possession of
any building or part thereof in part performance of a contract of the nature
referred to in section 53A of the Transfer of Property Act, 1882 (4 of 1882),
shall be deemed to be the owner of that building or part thereof ;<o:p></o:p></span></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<br /></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">27 </span></b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">(iiib) a person who acquires any rights (excluding any rights by
way of a lease from month to month or for a period not exceeding one year) in
or with respect to any building or part thereof, by virtue of any such
transaction as is referred to in clause (f) of section 269UA, shall be deemed
to be the owner of that building or part thereof;<o:p></o:p></span></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"><br /></span></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<b><span lang="EN-US" style="font-family: Calibri, sans-serif;"><span style="font-size: large;">Example</span><span style="font-size: 11pt;"><o:p></o:p></span></span></b></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"><br /></span></b></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Details of Mr X. for the Financial Year 2012-13. He owns two
houses.<o:p></o:p></span></b></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"><br /></span></b></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
 <tbody>
<tr>
  <td style="border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 333.9pt;" valign="top" width="445">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Particulars<o:p></o:p></span></b></div>
</td>
  <td style="border-left: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-themecolor: text1; mso-border-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 103.5pt;" valign="top" width="138">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">House I<o:p></o:p></span></b></div>
</td>
  <td style="border-left: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-themecolor: text1; mso-border-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 108.9pt;" valign="top" width="145">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">House II<o:p></o:p></span></b></div>
</td>
 </tr>
<tr>
  <td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 333.9pt;" valign="top" width="445">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Municipal
  Value of the house<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 103.5pt;" valign="top" width="138">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">480000<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 108.9pt;" valign="top" width="145">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">720000<o:p></o:p></span></div>
</td>
 </tr>
<tr>
  <td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 333.9pt;" valign="top" width="445">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Standard
  Rent<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 103.5pt;" valign="top" width="138">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">360000<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 108.9pt;" valign="top" width="145">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">600000<o:p></o:p></span></div>
</td>
 </tr>
<tr>
  <td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 333.9pt;" valign="top" width="445">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Date of
  completion of  construction<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 103.5pt;" valign="top" width="138">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">--<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 108.9pt;" valign="top" width="145">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">10.05.2011<o:p></o:p></span></div>
</td>
 </tr>
<tr>
  <td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 333.9pt;" valign="top" width="445">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Interest
  for the Year on borrowed capital<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 103.5pt;" valign="top" width="138">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">--<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 108.9pt;" valign="top" width="145">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">190000<o:p></o:p></span></div>
</td>
 </tr>
<tr>
  <td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 333.9pt;" valign="top" width="445">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Municipal
  Taxes paid<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 103.5pt;" valign="top" width="138">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">5000<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 108.9pt;" valign="top" width="145">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">6200<o:p></o:p></span></div>
</td>
 </tr>
</tbody></table>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<span lang="EN-US">Compute
Income from House Property.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<b><span lang="EN-US"><span style="font-size: large;">Solution:</span><o:p></o:p></span></b></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<br /></div>
<div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<b><span lang="EN-US">Income from House
Property<o:p></o:p></span></b></div>
<div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<b><span lang="EN-US"><br /></span></b></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
 <tbody>
<tr>
  <td style="border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 333.9pt;" valign="top" width="445">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Particulars<o:p></o:p></span></b></div>
</td>
  <td style="border-left: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-themecolor: text1; mso-border-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 103.5pt;" valign="top" width="138">
  <div align="center" class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: center;">
<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">House I<o:p></o:p></span></b></div>
</td>
  <td style="border-left: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-themecolor: text1; mso-border-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 108.9pt;" valign="top" width="145">
  <div align="center" class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: center;">
<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">House II<o:p></o:p></span></b></div>
</td>
 </tr>
<tr>
  <td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 333.9pt;" valign="top" width="445">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Gross
  Annual Value of the house<o:p></o:p></span></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">(Higher of
  Municipal Value and fair value subject to Standard Rent)<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 103.5pt;" valign="top" width="138">
  <div align="right" class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: right;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">360000<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 108.9pt;" valign="top" width="145">
  <div align="right" class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: right;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">600000<o:p></o:p></span></div>
</td>
 </tr>
<tr>
  <td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 333.9pt;" valign="top" width="445">
  <div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span lang="EN-US">Less:
  Municipal Taxes<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 103.5pt;" valign="top" width="138">
  <div align="right" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: right;">
<span lang="EN-US">5000<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 108.9pt;" valign="top" width="145">
  <div align="right" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: right;">
<span lang="EN-US">6200<o:p></o:p></span></div>
</td>
 </tr>
<tr>
  <td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 333.9pt;" valign="top" width="445">
  <div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<b><span lang="EN-US">Net Annual Value<o:p></o:p></span></b></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 103.5pt;" valign="top" width="138">
  <div align="right" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: right;">
<b><span lang="EN-US">355000<o:p></o:p></span></b></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 108.9pt;" valign="top" width="145">
  <div align="right" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: right;">
<b><span lang="EN-US">593800<o:p></o:p></span></b></div>
</td>
 </tr>
<tr>
  <td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 333.9pt;" valign="top" width="445">
  <div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span lang="EN-US">Less:
  30% Deduction<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 103.5pt;" valign="top" width="138">
  <div align="right" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: right;">
<span lang="EN-US">106500<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 108.9pt;" valign="top" width="145">
  <div align="right" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: right;">
<span lang="EN-US">178140<o:p></o:p></span></div>
</td>
 </tr>
<tr>
  <td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 333.9pt;" valign="top" width="445">
  <div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<b><span lang="EN-US">        </span></b><span lang="EN-US">  Interest on Capital borrowed (Maximum rs.
  150000)<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 103.5pt;" valign="top" width="138">
  <div align="right" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: right;">
<span lang="EN-US">--<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 108.9pt;" valign="top" width="145">
  <div align="right" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: right;">
<span lang="EN-US">150000<o:p></o:p></span></div>
</td>
 </tr>
<tr>
  <td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 333.9pt;" valign="top" width="445">
  <div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<b><span lang="EN-US">Income from House
  Property<o:p></o:p></span></b></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 103.5pt;" valign="top" width="138">
  <div align="right" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: right;">
<b><span lang="EN-US">248500<o:p></o:p></span></b></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 108.9pt;" valign="top" width="145">
  <div align="right" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: right;">
<b><span lang="EN-US">415660</span></b></div>
</td></tr>
</tbody></table>
</div>

House Property: Income from House Property Calculation

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