Blogs/Articles

pile of american banknotes and retro light box

Clarifications/Guidelines regarding TDS u/s 194Q (applicable w.e.f 1.7.2021, TDS on payment for purchase of goods above threshold limit of Rs. 50 Lakhs by a buyer whose turnover is exceeding Rs. 10 crores in preceeding FY) and TCS u/s 206C(IH) and TDS u/s 194-O issued vide circular no. 13 dt. 30.06.2021

Applicability of 194Q A new section 194Q was inserted by Finance Act 2021 for deducting tax at source. This section ...
Read More

Financial System and its stages, components and Functions.

Financial System “Financial System” is a set of inter-related activities working together to achieve some pre-determined goal. It includes- MarketsFinancial ...
Read More

Rates of TCS for FY 2021-22 i.e. 1st April 2021 to 31st March 2022 (AY 2022-23)

Normal TCS rate for financial year 2020-21 were changed w.e.f 14th may 2020 by reducing normal rates by 25%. But ...
Read More

Have you done financial planning for 2020-21 before the deadline 31st March 2021 – Check out what you missed.

Financial year 2020-21 is reaching to its ends in few days. 31st March is an important deadline with reference to ...
Read More

Rates of TDS for FY 2021-22 (1st April 2021 to 31st March 2022)

Reduced TDS rate which were changed w.e.f 14th may 2020 by reducing normal TDS rates by 25%, were applicable only ...
Read More

Income tax due dates for FY 2021-22 (AY 2022-23)

Due Dates of Income tax as applicable for FY 2021-22 (AY 2022-23) (A) Due date for filing Income tax Return ...
Read More

GST important Due dates for Financial year 2021-22

GST important Due dates for Financial year 2021-22 (A) Default Due date for filing of GST return and Default due ...
Read More

What is Balance of Payment? What is balance of Trade? What is current account deficit/ Surplus and capital account deficit / Surplus? What is forex reserve? What is Trade Deficit/ Surplus?

There is many terms like Balance of payment, Balance of Trade, Current A/c Deficit, Capital account deficit, trade deficit, forex ...
Read More

Important Highlights of Tax Proposals in Finance Budget 2021-22

The Finance Minister, Nirmala Sitharaman presented her third Union budget 2021 in Parliament today i.e. 01-02-2021. Following are important proposals ...
Read More

Decision Making and Risk Factor: How to take an economic decision considering the risk factor?

Every person wants to make the best decision but every person may have a different risk attitude and our risk ...
Read More

cutout paper illustration of hand with coin above jar

Taxability of Mutual Fund: Is your mutual fund taxable or exempt?

Investment is a good habit to make our future more independent. Keeping some part of our money to get more ...
Read More

Rates of TCS for FY 2020-21

Normal TCS rate for financial year 2020-21 were changed w.e.f 14th may 2020 by reducing normal rates by 25%. But ...
Read More

Rates of TDS for FY 2020-21

Normal TDS rate for financial year 2020-21 were changed w.e.f 14th may 2020 by reducing normal TDS rates by 25% ...
Read More

Rates of Income tax for FY 2020-21 (Assessment year 2021-22)

(A) Income tax Rates for Individual & HUF, AOP, BOI & AJP New Income tax slab rate for individual & ...
Read More

Income tax due dates for FY 2020-21 (AY 2021-22)

Due Dates of Income tax as applicable for FY 2020-21 (AY 2021-22) (A) Due date for filing Income tax Return ...
Read More

GST important Due dates for Financial year 2020-21

GST important Due dates for Financial year 2020-21 (A) Default Due date for filing of GST return and Default due ...
Read More

Insights of Indian Economy before hit by COVID-19

Insights of Indian Economy before hit by COVID-19 ParametersValueRemarksArea 3,287,263 sq kmArea of india within 15200 km of land frontier ...
Read More

Last date for filing ITR for FY 2019-20 extended to 31st December 2020

Last date for filing ITR for FY 2019-20 extended to 10th January 2021 As per official notification dated 30th December ...
Read More

Last date to file ITR for FY 2018-19 extended to 30th November 2020.

31st March 2020 was last date to file your Income tax return for FY 2018-19 which is now extended to ...
Read More

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 ...
Read More

Coronavirus (COVID-19): How much harmful is corona for world economy? What should we do? What should investors do in this era of viruses i.e. Coronavirus.

Coronavirus (COVID-19): How much harmful is corona for world economy? What should we do? What should investors do in this ...
Read More

GST 39th Council Meeting Update:- GST on mobile phone and parts increased to 18% and Deadline for GST filing extended.

39th Meeting of GST council held in New Delhi today. Some of highlights are given below:-. It was decided to ...
Read More

GST important Due dates for Financial year 2019-20

GST important Due dates for Financial year 2019-20 (A) Default Due date for filing of GST return and Default due ...
Read More

Important Highlights & Tax Proposals of Finance Budget 2020-21

Important Highlights & Tax Proposals of Finance Budget 2020-21 The Finance Minister, Nirmala Sitharaman presented his second Union budget 2020 ...
Read More

Have you done financial planning for 2019-20 before the deadline 31st March 2020/30th July/ 30th September – 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 July 2020/30th September 2020 - Check out ...
Read More

Current position of Indian Economy w.r.t. Economic Survey of India for FY 2019-20 (presented in Parliament on 31-01-2020)

Current position of Indian Economy w.r.t. Economic Survey of India for FY 2019-20 (presented in Parliament on 31-01-2020) Economic Survey ...
Read More

Rates of Income tax for FY 2019-20 (Assessment year 2020-21)

Rates of Income tax for Financial year 2019-20 i.e. Assessment year 2020-21 (A) Income tax Rates for Individual, HUF, AOP ...
Read More

Income tax due dates for FY 2019-20 (AY 2020-21)

Due Dates of Income tax as applicable for FY 2019-20 (AY 2020-21) (A) Due date for filing Income tax Return ...
Read More

TDS is introduced in GST w.e.f. 01.10.2018: All about TDS in GST Law

TDS is introduced in GST w.e.f. 01.10.2018: All about TDS in GST Law GST Law mandates Tax Deduction at Source ...
Read More

Due date for filing ITR extended to 31st Oct 2018 for audit cases.

CBDT further extends due dt for filing of IT Returns & audit reports from 15th Oct,2018 to 31st Oct, 2018 for all ...
Read More

Due date for Filing ITR extended to 15-09-2018 in case assessees in State of Kerala

In view of disruption caused due to severe flood in Kerala, CBDT extended due date for ITR from 31st August ...
Read More

All About Reverse Charge Mechanism of Goods & Services in GST.

All about Reverse charge Mechanism In GST. What is Reverse Charge Normally Supplier of goods or services is liable to ...
Read More

Updates relating to GST return, Income Tax and SEBI.

CBDT has released parameters for manual selection of Income Tax Returns for Complete Income Tax Scrutiny during financial year 2018-19 ...
Read More

Last date of filing GSTR-3B for the month of July, 2018 has been extended to 24th Aug, 2018.

As per GST Portal, Last date of filing GSTR-3B for the month of July, 2018 has been extended to 24th Aug, 2018. Official Order is ...
Read More

Clause 30C & 44 of Tax Audit report is kept in abeyance till 31st march 2019

On 17th August 2018, CBDT issued order under section 119 of Income Tax Act 1961 that reporting under clause 30C ...
Read More

In A New Record, Rs 10.03 Lakh Crore Collected As Income Tax In 2017-18

In a new record, Income Tax worth Rs 10.03 lakh crore was collected during 2017-18, the Central Board of Direct ...
Read More

Due date of GSTR-1 Extended to 11th of next month till March 2019

Due dates for filing GSTR 1 for all months from July 2018 till March 2019 has been extended to 11th ...
Read More

Due date Calendar for August 2018

Statutory and Tax Compliance Calendar for August 2018 S.No Particulars of Compliance Forms/returns Due Date Compliances Calendar for GST 1 ...
Read More

Key points of 29th Meeting of GST Council held on 4th August 2018

Summary of GST meeting 4th August 2018: 1. GOM for MSME Issues: a. GST Council constitutes a Group of Ministers ...
Read More

Key Features of Draft GST simplified returns formats issued by CBIC on 30th July 2018.

The GST Council in its 28th GST Council Meeting held on July 21, 2018 under the Chairmanship of Shri Piyush Goyal, ...
Read More

An Overview of Tax Audit U/s 44AB of Income tax Act.

Tax Audit under section 44AB was introduced by Finance Act 1984, w.e.f. 1st April 1985 (A. Y. 1985-86). The main ...
Read More

How to File Income Tax Return for F&O Trading and Speculative transactions in FY 2017-18 (AY 2018-19)

Most of Salaried Employees are involved in derivative trading (trading in future and options or F&O on stocks, currencies, and ...
Read More

Rates of Income tax for FY 2018-19 (Assessment year 2019-20)

Rates of Income tax for Financial year 2018-19 i.e. Assessment year 2019-20(A) Income tax Rates for Individual, HUF, AOP & ...
Read More

Deadline for filing Income tax return extended till August 31, 2018

The finance ministry in a tweet has announced the extension of income tax return filing deadline by a month to ...
Read More

Updates of 28th GST Council meeting held on 21st July 2018

28st GST Council meeting held on 21st July 2018 and we are presenting here the key decisions taken in this ...
Read More

28th GST Council meet on Saturday i.e. 21st July 2018: Return simplification, law tweaks, setting up of tribunal on table

28th GST Council meet on Saturday i.e. 21st July 2018: Return simplification, law tweaks, setting up of tribunal on table ...
Read More

Income tax due dates for FY 2018-19 (AY 2019-20)

Due Dates of Income tax as applicable for FY 2018-19 (AY 2019-20) (A) Due date for filing Income tax Return ...
Read More

Income tax due dates for FY 2017-18 (AY 2018-19)

Due Dates of Income tax as applicable for FY 2017-18 (AY 2018-19) (A) Due date for filing Income tax Return ...
Read More

Rates of Income tax for FY 2016-17

Rates of Income tax for Financial year 2016-17 i.e. Assessment year 2017-18 (A) Income tax Rates for Individual, HUF, AOP ...
Read More

Rates of TCS for FY 2017-18

Rates for Tax Collection at Source (TCS) (FY 2017-18 & AY 2018-19) Following given are the rates at which tax ...
Read More

Rates of TDS for FY 2017-18

Rates for Tax Deducted at Source (TDS) (FY 2017-18 & AY 2018-19) Following given are the rates at which tax ...
Read More

Rates of Income tax for FY 2017-18

Rates of Income tax for Financial year 2017-18 i.e. Assessment year 2018-19 (A) Income tax Rates for Individual, HUF, AOP ...
Read More

GST important Due dates for Financial year 2018-19

GST important Due dates for Financial year 2018-19 (A) Due date for payment of GST (From 01-04-2018 to 31-03-2019) Taxpayer ...
Read More

Due date Calendar for July 2018

Due dates for the month of July 2018. GSTR-3B (Jun 2018)-Jul 20th, 2018 GSTR-5 (Jun 2018)-Jul 20th, 2018 GSTR-6 (Jul'17 ...
Read More

Due date Calendar for June-2018

(A) Due dates for Compliances under GST for the Month of June 2018 10-06-2018- Due date for filing GSTR -1 for the ...
Read More

Reverse Charge Mechanism further postponed till 30.09.2018 for Unregistered Person.

Section 9 (4) of the Central Goods and Services Tax, 2017 (CGST Act in short) and Section 5(4) of Integrated ...
Read More

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 ...
Read More

Job Work under GST: Taxability & Compliance

What is Job Work? Any treatment or process undertaken by a person on goods belonging to another registered person is ...
Read More

E-Way Bill: All about compliance requirement of E-Way Bill w.e.f 1st April 2018.

What is E-Way Bill? E-way bill is an electronic document generated online from E-way bill portal (https://ewaybillgst.gov.in/) which is required ...
Read More

Important GST updates vide recent GST notifications dt. 28th March 2018

Important GST updates vide recent GST notifications dt. 28th March 2018: Due date for filing GSTR-6 for the period of ...
Read More

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 ...
Read More

GST due dates for FY 2017-18

GST important Due dates for Financial year 2017-18 (A) Due date for payment of GST (From 01-07-2017 to 31-03-2018) Taxpayer ...
Read More

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 ...
Read More

26th Meeting of GST Council: E-Way bill mandatory w.e.f. 1st April & GSTR-3B continued.

26th Meeting of GST council held today i.e 10th March 2018 in New Delhi under chairmanship of Sh. Arun jaitley ...
Read More

Government Simplifies E-Way Bill Rules just two days before 26th meeting of GST Council.

Under GST regime, an e-waybill needs to be generated and carried for movement of goods above rupees 50000. Previously on ...
Read More

Income Tax Dept. probes Rs. 1000 crore tax refund fraud by Govt. and PSU employees.

Belated or revised income tax return for the financial year 15-16 or 16 17 can be filed up to 31st ...
Read More

Paytm received approval from SEBI to become Registered Investment Advisor.

Business of E-wallet companies are affected by RBI guidelines for mandatory KYC in E-wallet. Last date for updation of KYC ...
Read More

E-Way bill for movement of Goods: Target Dates

Under GST regime, an e-waybill needs to be generated and carried for movement of goods above rupees 50000. Previously on ...
Read More

Updates about PNB Fraud case of Rs. 12700 crore.

Some Updates about PNB fraud case of Rs. Rs.12700 crore:- Axis Bank's MD, Shikha Sharma and ICICI Bank's MD Chanda ...
Read More

RBI to Infuse Rs. 1 Lakh crore in the banking system in the month of March

To manage additional demand of liquidity, RBI decided to Infuse Rupees 1 lakh crore in the banking system through special ...
Read More

File Your Income tax Return for FY 15-16 & 16-17 before 31st March 2018

31st march 2018 is the last date for filing belated income tax return for FY 2015-16 if you have not ...
Read More

On 1st March 2018, Cabinet cleared "Fugitive Economic Offenders Bill 2018"

The Cabinet today cleared Fugitive Economic Offenders Bill which targets big defaulters involved in economic crime of over Rs. 100 ...
Read More

On 1st March 2018, Cabinet approved setting up NFRA as regulator for Auditors

Today on 1st March 2018, The Cabinet approved setting up of the National Financial Reporting Authority (NFRA), which will be ...
Read More

SBI & ICICI increased MCLR on 1st March 2018

Today on 1st march 2018, SBI increased the one-year MCLR by 20 basis points (bps) from 7.95% to 8.15%. And ...
Read More

Priority Sector Lending Targets for FY 2018-19 for Foreign Banks with 20 or more Branches.

RBI announced Priority Sector Lending Targets for FY 2018-19 for Foreign Banks with 20 or more Branches in notification dated ...
Read More

SBI increased Interest Rate for Domestic Term Deposits.

Today on 28-2-2018, State Bank of India (SBI) increased retail deposit rates by 10 to 50 basis points across various ...
Read More

On 28-02-2018, RBI revised limit of "exchange traded currency derivatives".

RBI revised limit of "exchange traded currency derivatives" without having to establish underlying exposure for resident in India and FPI.Currently, ...
Read More

Update KYC in E-wallet before 28th Feb. 2018: RBI

Update KYC in E-wallet as deadline is very close. As per RBI guidelines issued in October 2017 as revised, E-wallet ...
Read More

E-way bill may start from 1st April-2018:Meeting of GOM

On 24-02-2018, in the meeting of GoM (Group of Ministers), it is decided to start the inter-state movement of goods ...
Read More

On 23rd February 2018, Reserve Bank of India launched the Ombudsman Scheme for NBFC

Good News for customers of NBFC like Bajaj Financial Services Limited, LIC Housing Finance, PNB housing finance, Indiabulls group, Muthoot ...
Read More

RBI constituted an Expert Committee to look into the reasons for high divergence observed in asset classification and provisioning by banks.

In view of large divergences observed in asset classification and provisioning in the credit portfolio of banks as well as ...
Read More

Link your Adhaar with Various Financial products and mobile number before 31st march 2018

On 15-02-2018, Government issued a notification to require all postal Life Insurance holder to provide their Aadhaar detail.The notification also ...
Read More

RBI issued Revised framework for Stressed Assets.

On 12th Feb 2018, RBI issued a revised framework for the resolution of stressed assets providing for early identification & ...
Read More

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 ...
Read More

Date of Compulsory E-Way Bill Postponed.

To facilitate easy inter-state movement of goods throughout the country, National E-way bill was made compulsory w.e.f. 01-02-2018 for consignment ...
Read More

Important Highlights & Tax Proposals of Finance Budget 2018-19

Important Highlights & Tax Proposals of Finance Budget 2018-19 The Finance Minister, Sh. Arun Jaitley presented his fifth Union budget ...
Read More

Long Term Capital Gain is made taxable @ 10% w.e.f 1st April 2018

As proposed in budget 2018, w.e.f. 01-04-2018 Long term capital gains (from equity or units of MF) exceeding Rs. 1 ...
Read More

Indian Accounting Standards (IND-AS): Whether applicable to your company or not?

Indian Accounting Standards (IND-AS): Whether applicable to your company or not? After a long converging process of Accounting standards(AS) and ...
Read More