Vernal Equinox is the first. Vernal Equinox is the first day of Spring based on astronomical data. The same applies to other astronomical seasons, it may not feel at all like Spring, but the position of the Sun and the Earth dictate the astronomical time frame, not the weather conditions in a particular area.
For tax purposes, interest must be recognized annually on the amount of the loan at the stated rate. If there is no stated interest rate, or a below-market interest rate in the loan agreement, then interest must be calculated at the applicable federal rate.he forgiveness of any loan to an employee by Washington University is taxable compensation to the employee. The payment of the balance due of an employeeâs loan by the University is taxable compensation to the employee.
Further, reimbursement of expenses associated with the car (such as driverâs salary, fuel, repairs and maintenance) are also considered as non-taxable. However, perquisite value of such facility is added to your taxable income.riving a company car. If your employer provides you with a car lease option, you should consider availing of the same as it would be a tax efficient option. In such case, the EMI paid by your employer to the leasing company is deducted from your monthly salary resulting in reduction in your taxable income.