Kerala University - Migration Certificate

 To obtain the migration certificate from Kerala university, you need to submit the application given at https://www.keralauniversity.ac.in/pdfs/application_forms/application_migration_new_1.pdf 

Fill up the application and get it signed by the College Principal. 

Then you need to submit the application at the university along with the prescribed fees.

If you have not bought the application form from the university you need to pay an additional Rs 25/-. 

After getting al the documents, put them all in another envelope and drop it in the tapal box at the university office. 

The migration certificate will be mailed to you after it is processed.

Equivalent Certificate - Osmania University

To obtain the equivalent certificate from Osmania university, you need to visit the Academic Section on the 2nd floor of the Administrative building in Osmania university. The documents that you will need are

1. 10th Class memorandum of marks 
2. 12th Class memorandum of marks
3. Graduation memorandum of marks or any other higher education
4. Transfer certificate issued by college last studied
5. Migration certificate issued by university

You will need to carry the originals for verification and submit xerox copies. The instructions specify that the candidate has to approach for obtaining the equivalent certificate. 

You also need to pay a DD of Rs 2000/- in favor of "The Registrar, Osmania university".

Picture taken on March-12-2021 from the University office.

CLA v/s HRA

Several firms provide the option of taking CLA ( Company Leased Accomodation) or HRA ( House Rent Allowance). For new joinees, there is often confusion about which option should be taken for better tax planning. This post is intended to clarify on which would be the better option.

Before proceeding to the calculations, the difference between the two are as below.

In case of HRA

HRA is a scheme wherein part of your salary is given as HRA by the firm and you save on Income Tax as per the current income tax laws on the rent paid by you to the owner subject to the below rules.

The exemption is limited to the minimum of the three below.

1. 40 % of your basic pay
2. actual HRA paid by the firm.
3. Actual rent paid by you to the house owner - - 10% of basic pay

In case of CLA

In the CLA scheme, the firm leases a house for you to stay in and enters into an agreement with the owner of the house. The firm would not provide you with an HRA allowance in this case but the amount mentioned as HRA would come as your taxable income after reducing the rent amount.

You need to pay 15% tax as per the current perquisite tax rules on the actual rent paid by the firm on your behalf.

But the benefit is that the company would usually pay the Rent Deposit on your behalf. This would mean you will have more money in your bank account/savings/stock certificates and hence get interest/returns on that amount.

How Both Schemes Work

HRA

1. You find a house to stay in and enters into an agreement with the house owner of your own
2. You pay the initial deposit amount from your account to the house owner
3. Each month you pay the rent to the owner
4. A part of your salary is marked as HRA by the firm
5. You save on tax by submitting the original rent receipt to your firm
6. The tax exemption is as per the rules mentioned above

CLA

1. You find a house to stay in and Informs the firm
2. The firm enters into an agreement with the house owner
3. The firm pays the initial deposit amount to the house owner
4. Each month the firm pays the rent to the owner
5. The firm deducts the rent amount from your salary
6. The government charges 15% tax on the rent amount
7. You have the initial deposit money with you ( as you do not have to pay it) and get returns/interest on that money

Question

How do i save under CLA scheme if I have to pay extra tax where as in HRA I am getting tax exemption ?

Answer

The higher your rent amount compared to your basic , CLA becomes more attractive. Calculations follow.

HRA v/s CLA comparison in numbers

This form intends to compare HRA and CLA to help you choose the best of the two options.

• Monthly Basic Pay
  

  Enter your Monthly Basic pay

• Monthly Rent
  

  Please enter your monthly rent

• Monthly HRA claimed
  

  Please enter your monthly HRA claimed

• Your tax slab
  

  Please enter your tax slab. If you are in 10% slab enter, 10, in 20% slab enter 20, in 30% slab enter 30.





• Expected Returns on Savings
  

  Please enter your expected returns as a whole number on the savings which you will have on the deposit amount.
  10% =>10
  8%=>8





• House Deposit Amount
  

  Please enter your Deposit Amount.
  





• 
  

HRA	CLA
Tax savings on HRA Net tax to be paid on the house rent amount after the savings	Tax to be paid on CLA Net tax after adjusting for returns from deposit amount
Choose the option which ever gives you lesser tax on the rent amount

Form Created with the help of pForm

The tax implications are calculated assuming a fixed slab for your income. If your income is at the border of slabs such that the HRA or CLA takes you from one slab to another, then the tax calculations will be more complex.


Note : This post is not a tax advice and the author is not responsible for any tax implications arising out of decisions taken by you.

Anusmaran -2009

Networking is an art which you need to master while climbing the steps of any management Institute. Very often, Business requires it that you know the right people personally to foster your cause. Ask any big business man, and he would have a story to tell you about how knowing the right person has helped him some day or the other. 

One of the key merits of being in an established business school is the network of well established alumni spread across the globe. You could find people who 'have been there , done that' much before you and become their mentees and friends for a life time. But to achieve this there should be a well established alumni cell and an opportunity to meet them.

The alumni association at IIMB is bringing that opportunity with Anusmaran-09. It is an event that is happening across the globe ( Newyork, Singapore, Dubai, London, Hongkong, Delhi, Mumbai, Calcutta, Chennai, Hyderabad and of course Bangalore) and brings alumni from across the time to interact with each other and with the fresh batch right in college. An event to connect and make life time bonds.

We have a lot to tell the alumni about what has happened in the last one year on the campus and I am sure that they would have a lot to tell us also from the ever exciting world of business,  especially in these troubling times. If you are/were an IIMB student, make sure that you attend Anusmaran-09. I am sure that we have a lot to talk and make new friends.

google product wish

I was watching a video from the google tech talks. (http://video.google.com/videoplay?docid=-3999952944619245780). The video has a presentation which is inter-mixed with the video of the presenter.

I wanted to see the previous slide without pausing the video, but this cant be done as this is just a video. So i was thinking why not have a tool for such educational talks. The video and the ppt should be two parts of a larger object.
1) I should be able to jump through the presenation independent of the video.
2) And also i should be able to synchronize the video with the presentation page when i want to.
3) The UI should have an option of shifting the focus to the video or the presentation.

Wish google will come out with such a tool ..