B E Kumar Prasad

B E Kumar Prasad
He is a Practicing Chartered Accountant in Bengaluru, India. He has 28+ years of experience in income tax, business setup, and NRI matters. He is also an Insolvency Professional, Registered Valuer (F&SA) and Social Auditor.Prasad welcomes your comments and questions. Please email him at simplifiedlaws20@gmail.com

Who has to register under Employee Provident Fund (EPF)

Employee Provident Fund (EPF) is a society security fund created for the purpose of providing financial security and stability during retirement. The employees will contribute a portion of their salary to this fund during his employment. The employer is also obliged to contribute an equal amount (as specified by the …

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Draft Proposals for Facilitating Electronic Transactions

The Finance Minister in his budget speech for the Union Budget 2015-16 made the following announcement: “One way to curb the flow of black money is to discourage transactions in cash. Now that a majority of Indians has or can have, a RUPAY debit card. I therefore, propose to introduce …

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Tax tips on reimbursement of petrol expenses from employer

Taxability of the perquisite in the hands of employees towards the facility of motor-car, reimbursement of fuel expenses, etc., are discussed in this article. Hope this helps.   Car is used exclusively for official purposes – fully exempt Where the car is used exclusively in the performance of official duties, …

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Rate of service tax on restaurant service

The Service Tax rate has been increased to 14% with effect from 1st June, 2015. Certain doubts have been raised in regard to abatement on value of services provided in relation to serving of food or beverages by a restaurant, eating joint or a mess, having the facility of air-conditioning …

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