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Thursday, January 26, 2012

Art of Living Ashram Visit - International Center, Kanakpura Road-Bangalore, India

Art of Living is founded by Sri Sri Ravi Shankar (Guruji). The institution is involved in teaching yoga & meditation since last three decades and also does lot of social welfare activities - running schools, colleges, etc. for the needy. The foundation is present in over 100 countries.

International Center at Kanakpura road, Bangalore is where it all started and has a ashram where Guruji along with his disciples stay. The sprawling campus spans over several acres and has got hostels, several lecture centers, fountains and lot of plantation.


The center of attraction is VishaLakshi Mantap (VM)- place for all the major activities in the ashram- Meditation courses, Guruji discourses, satsang, etc. Beautiful building with traditional hindu architecture with enough space to accomodate over 500 people. Lot of cushions available to sit or lie down for meditation. The view from the first floor of the building is amazing with nice cool breeze flowing all the time.


The spiritual places must have lot of greenary- trees & plants, vegetation helps in relaxing the mind. Most of the people visit ashrams to run away from dust & pollution. This ashram has got lot of vegetation in and around. The ambience is really good and has got a calming effect. Thats how people should live, amongst nature- flowers, green trees, birds-in harmony with them. The concrete jungle is making people go insane.

The ashram provide rooms for stay- twin, triple & quadruple sharing basis, costing Rs 900, Rs 600 & Rs 300 resp. The hostels are very neat & clean. The waste management is really good, wont find any garbage lying around, a welcome change in Bangalore. Food is provided free to all the ashramities.
                  There are various courses in which one can enroll and learn yoga & meditation. Part I, Part II , Advanced, Yes+, etc. Sri Sri Ravi Shankar discovered Sudarshan Kriya, a form of breathing patterns, and is taught in every courses run here. The Kriya is very powerful and effective, and if done regularly, can really help to clean the cellar filled with lot of garbage in your head.

There is a Lake just behind the ashram and the views around it is very good. I spend some time sitting around the lake and appreciating the beauty of nature. One should take a stroll around it while there. Amazed to see the size of fishes available in the lake.


RadhaKunj is another must see place within the Ashram. This is where Guruji stays with other key disciples. This has got lot of vegetation, lecture halls and a big fountain. Few rabbits, a deer & some birds are other occupants.
The highlight of entire stay is always the Satsang- religious song sung in VM. Satsang happens every weekday from 6.30 PM to 8.30 PM. Some really good singers lend their voice to popular religious compositions. Everybody joins in and the effect it creates is really amazing. Some just go into medititation, some start dancing while others join in the chorus. Guruji, when he is around, delivers his talk post the satsang at this very place.

Art of Living has grown really big. Lot of sevaks are required to run the entire ashram & its various courses & establishments. Bangalore has grown big enough and come close to this ashram. The land of Ashram, running several acres, will be worth several hundred million dollars in future. Usually, these foundations running in the name of one spiritual Guru, do not survive post the passing away of founder. And bitter squabbling over property starts and ruins the sanctity of the institution.

It is to be seen how successfully they manage to come up with a succession policy. Finding a CEO is easy, but finding a suitable enlightened Guru these days is very difficult. Disciples world over need a leader to continue the good work as the Guru is their only guiding light. People renounce everything and devote their lives to spiritual Gurus, making them the purpose & motive of life. I wonder how they cope with passing away of their Gurus. The only motive of life dies, what next.

Thursday, January 19, 2012

HRA Calculation - Income Tax Act 1961 - Section 10 ( 13A)- Rule 2a


Step 1: What is defined as Salary?


Salary = Basic Pay + Dearness Allowance (D.A.)
DA – Govt Employees (% Basic)

Private Sector – No D.A.

Step 2: Eligibility Criteria

Three conditions must be fulfilled:

A.HRA Component as part of package
B.Staying in rented accommodation
C.Rent is more that 10% of salary { Basic 40,000/ Rent>4,000}

Step 3: HRA Exemption in Metro & Non-Metro

Metro [Delhi, Mumbai, Chennai or Kolkata] = 50% of Basic Pay
Non- Metro = 40% of Basic Pay

Step 4: HRA Tax Exemption Calculation

A.What’s your HRA allowance amount (salary slip)?

Ex:
Basic – Rs 40,000
HRA – Rs 20,000
Flexi – Rs 30,000

Ans: Rs 20,000

B.What’s your HRA Exemption amount based on location {metro/non-metro}?

Ex:
Location - Bangalore
Basic – Rs 40,000
HRA – Rs 20,000
Flexi – Rs 30,000

Ans: Bangalore [non-metro]= 40% x Basic = Rs 16,000

C.How much rent have you paid in excess of 10% of your basic pay?

Ex:
Rent Paid – Rs 15,000
Basic – Rs 40,000
HRA – Rs 20,000
Flexi – Rs 30,000

Ans:
10% of Basic = 4,000
Rent paid in excess of 10% of Basic = 15,000 – 4,000=11,000

D. Least of three rule- Income Tax Act, 1961

Least of following three is exempt from tax:

1. Actual HRA received
2. Rent paid in excess of 10% of salary (Basic + DA)
3. 40% of salary in Non-metro (50% if residing in a metro i.e., New Delhi, Kolkata, Chennai or Mumbai)

E. Example

Rent Paid – Rs 15,000
Location – Bangalore
Basic – Rs 40,000
HRA – Rs 20,000
Flexi – Rs 30,000

1.Actual HRA received
[Rs 20,000]

2. Rent paid in excess of 10% of salary (Basic + DA)
[15,000-(10%x 40,000)] =11,000

3. 40% of salary in Non-metro (50% if residing in a metro i.e., New Delhi, Kolkata, Chennai or Mumbai)
[Bangalore= 40% x 40,000 = 16,000]

Least of three = Rs 11,000

Yearly HRA exempted from Tax calculation = 11,000 x 12 = Rs 132,000
Taxable = 20000(HRA) x 12 - 132000 = Rs 108,000

Step 4: Proof

Rent is < Rs 3,000: No Proof Required

Rent is > Rs 3,000: Rent Receipts Required


Income Tax Act, 1961, Rule 2a