Difference In The Domestic And International Price Of Gold
September 25, 2013 Leave a comment
TDC
September 25, 2013 Leave a comment
Today’s Quora Weekly Digest had some interesting stuff on TDCs. You can read more about the TDCs Here and Here.
My guess is that given half a chance,a lot of Indians would like to at least adopt a part of the lifestyle of the TDCs,So if you want to fake it till you make it,here’s your masala.
Read!Have fun!But don’t take anything in this post too seriously and remember that stereotyping is oversimplifying.
Lalbaugcha Raja Auction
September 25, 2013 6 Comments
I spent last evening at the Lalbaugcha Raja auction.It was my first time.
I am pretty pleased with my “prasad”-a lovely silver modak that just comfortably overflows my cupped hands.It’s a great item to put on my desk and watch the play of light on.Anytime,I want a physical reminder of the abundance of good things God has given me in life,I have but to pick up this modak.
One of the items for auction ,that caught my attention was a gold foot ball .All the items up for auction have been donated by devotees whose wishes have been granted.So when we see a model house or cradle we can guess what wish was granted.Now a football?Makes you wonder what the wish was for…..Also last year I remember seeing such a foot ball in the papers too.So I got googling after dinner and came across a shocking story in an old copy of the Mid-Day:Link Read more of this post
Income Tax And The Depreciation Of Motor-Vehicles
September 24, 2013 6 Comments
If you are carrying on a business or profession one of the major instruments of reducing taxes is to claim depreciation on the purchase of your vehicle.
Any expenditure incurred for the purpose of the business is allowed as a deduction from your business profits; as such, expenditure incurred on a vehicle used in the business viz fuel expenses, repairs & maintenance expenditure, vehicle insurance are allowed as deductions. Besides, in computing income from business one of the most important items of allowances is the allowance for depreciation, provided by Section 32 of the Income Tax Act.
Depreciation is a non-cash expense which results from the reduction/diminution in the value of certain capital assets including vehicles etc. This deduction towards depreciation is very essential to arrive at the Income from Business/profession of the taxpayer and also to amortize the capital cost of the amount invested in business assets like factory building, machinery, plant, furniture, vehicles etc. The purpose of allowing depreciation is to provide in the course of time for replacement of the asset which is allowed to be depreciated over a period of time. Read more of this post
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