How a Package of Rs. 20 Lakh Crores going to make India – Atmanirbhar Bharat: First Phase-13th may 2020

How a Package of Rs. 20 Lakh Crores going to make India – Atmanirbhar Bharat: First Phase-13th may 2020 We all know that Indian Independence day is celebrated on 15th August. We secured our independence on 15th August 1947 or we can say we were declared independent on 15th August 1947 when UK parliament passed […]

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Have you done financial planning for 2019-20 before the deadline 31st March 2020/30th June 2020 – Check out what you missed and what are relief measures provided by FM in view of Covid19 (Coronavirus) Outbreak.

Have you done financial planning for 2019-20 before the deadline 31st March 2020/30th June 2020/31st July 2020 – Check out what you missed and what are relief measures provided by FM in view of Covid19 (Coronavirus) Outbreak? Financial year 2019-20 is reaching to its ends in few weeks. 31st March is an important deadline with […]

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Investment Decisions: Are your Investment decisions destroying your Wealth?

Investment Decisions: Are your Investment decisions destroying your Wealth? Every investor wants to create huge wealth by taking best investment decisions. But sometimes decisions taken to create wealth become responsible for destruction of wealth itself. Generally investors are unaware of Break even rate of return which is minimum return to catch up with inflation and […]

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Payment of Bonus Act, 1965 Amended to increase Minimum Bonus

Payment of Bonus Act, 1965 In India, Payment of bonus is governed by “Payment¬† of Bonus Act, 1965” as amended from time to time including latest amendment act of 2015 i.e. “Payment of Bonus (Amendment) Act, 2015 (applicable w.e.f.¬† 01.04.2014)” . Key points regarding payment of bonus are given below: Applicability of Payment of Bonus […]

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Provident Fund in India, Its Taxability and TDS on Provident Fund

Provident Fund in India, Its Taxability and TDS on Provident Fund What is provident Fund(PF)? Provident Fund is a retirement saving scheme in India which is similar to United State’s Social Security program. Its purpose is to provide financial support to members. To understand the scheme of provident fund, we can discuss it in two […]

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Secret Informer of Tax Department and Annual Information Return

Secret Informer of Tax Department and Annual Information Return (AIR): To curb black money, government need secret informer and to motivate people to provide information of black money, a reward of 10% of tax collected was paid to informer. Apart from this, some Specified entities are bound to file Annual Information Return (AIR) in respect […]

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Have you done financial planning for 2017-18 before the deadline 31st March 2018 – Check out what you missed?

Financial year 2017-18 is reaching to its ends in few weeks. 31st March is an important deadline with reference to tax Planning, missing it may result in higher tax liability. We are required to complete our tax planning before 31st march 2018, as we are required to file Income tax return for FY 2017-18 during […]

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Is it right time for the privatisation or consolidation of public sector banks?

Current market share of public sector banks is 70% which is reducing very rapidly i.e. approximately 4% a year. After 5 year, Estimated the market share of public and private sector bank will be in the ratio of 50:50. Infosys chairman Nandan Nilekani said that market share of public sector bank may reduce to something […]

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Fraud prone Indian Banking & RBI: Recent Steps to strengthen Banking.

After recent scam of 12646 crores in PNB done through fraudulent issuance of letter of undertaking (LOU) , RBI have to take necessary steps to prevent such fraud in future. Market share of public sector bank is 70%, But after scam of 12646 crores in PNB the shares of public sector banks have lost their […]

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Payment Banks: Revolutionising the Banking Sector

Payment Banks: Revolutionising the Banking Sector In September 2013, the Reserve Bank of India constituted a committee headed by Dr Nachiket Mor to study Comprehensive financial services for small businesses. The committee submitted its report to RBI in January 2014.One of the key suggestions of the committee was to introduce specialised banks or ‘ Payment […]

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