Our collection of resources based on what we have learned on the ground
Resources
Q&A
What does salary in India include?
- January 2014
- Free Access
Section 17 of the Income Tax Act defines salary to include: Wages Pensions or Annuities Gratuities Advance of Salary Any fee, commission, perquisites (the value of rent-free accommodation provided by the employer or...
Q&A
How are wages paid in India and how do they vary?
- January 2014
- Members Access
Wages vary considerably, depending on industry, company size and region. The national minimum wage of India is currently at INR115 (US$2.24) per day (effective from April 1, 2011); though this varies by state. Companies use both time and piece ...
infographic
China's Tax System of 2012
- January 2014
- Members Access
Current tax system in China consists of two parts: value added tax and business tax.
infographic
Value Added Tax (VAT) Calculation in China
- January 2014
- Free Access
Value added tax (VAT) calculation in China consists of two parts: output VAT and input VAT.
Q&A
What are allowances and what do they include in India?
- January 2014
- Free Access
Allowances are categories of expenditures in India that are not taxable, provided they match certain specifications and do not exceed a certain amount. Allowances in India include those for: House Rent Transport Medical Meal Coupons Leave Tra...
Q&A
What is the house rent allowance in India?
- January 2014
- Members Access
If a company chooses to provide House Rent Allowance (HRA) to its employees, the amount of this allowance exempt from tax is the lowest of three numbers: 50 percent of salary in metropolitan areas (40 percent in non-metropolitan areas) Total rent...
Q&A
What is the transport allowance in India?
- January 2014
- Members Access
Transport payments of up to INR800 (US$14.22) per month for an employee commuting between residence and place of work are exempt from tax. In the case of blind or orthopedically handicapped employees, INR1,600 (US$28.61) per month is exempt from...
Q&A
What is the medical allowance in India?
- January 2014
- Members Access
An exemption for medical expenses is allowed for: Reimbursement up to INR15,000 (US$266.66) for medical treatment of the employee and family members Reimbursement of expenses sustained by an employee and family members in approved hospitals, etc....
Q&A
What is the allowance for medical treatment abroad for employees of Indian compa...
- January 2014
- Members Access
For medical treatment abroad, the actual expenditure incurred includes the travel and stay abroad of the patient and one attendant (if permitted by the Reserve Bank of India). The ceiling for the gross total income excluding the amount to be reimburs...
Q&A
What is the allowance for meal coupons in India?
- January 2014
- Free Access
Lunch and refreshments that the employer provides to the employee at free or concessional rates is not taxable.
Q&A
What is the allowance for leave travel in India?
- January 2014
- Free Access
Leave travel is remunerated for meeting travelling expenses incurred by an individual and family members (this includes only the spouse, two children and dependent parents, brothers and sisters) while on holiday in India. The amount excluded depen...
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Key Points of Circular 110 National Value Added Tax (VAT) Reform in China
- January 2014
- Members Access
There are three key points in the Circular 110 National Value Added Tax (VAT) Reform in China.
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