Highlights of Budget 2024 presented on 23.07.2024
Highlights of Budget 2024 presented on 23.07.2024 Read More »
Understanding Strategy: Beyond Operational Effectiveness
In today’s dynamic and competitive business environment, the distinction between operational effectiveness and strategy is crucial for sustainable success. While companies have historically emphasized flexibility, benchmarking, outsourcing, and honing core competencies, the true differentiation lies in their strategic positioning. Operational effectiveness, though essential, is not sufficient for achieving long-term competitive advantage. Operational Effectiveness: A Necessary
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Understanding India’s Monetary Policy Framework and Objectives
What is Monetary Policy? What are goals of Monetary policy and how these goals are achieved? Monetary policy refers to the use of monetary instruments by the central bank to regulate interest rates, money supply, and availability of credit with a view to achieving the ultimate objective of economic growth and price stability. The primary
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Rates of Income tax for FY 2024-25 (assessment year 2025-26)- updated by interim budget 2024
As we know that final budget for 2024 is expected to be presented in July 2024 and only interim budget was presented in Feb-2024. No major change in Income tax rates was proposed in Interim budget. As we know that W.e.f FY 2020-21 i.e. budget 2020, two options of slab rate are available for Individual
Rates of TDS (tax deducted at source) for FY 2024-25 (1st April 2024 to 31st March-2025) (Updated by interim budget 2024)
The following changes in TDS-related provisions were amended/inserted by Interim Budget 2024:- NO Major change in TDS was proposed by Interim budget 2024, and final budget for 2024 is expected to be presented in July 2024. A complete list of TDS (tax deducted at source) rates along with related transactions and budget proposals for the
Rates of TCS (Tax collected at Source) for FY 2024-25 (1st April 2024 to 31st march 2025) (Updated by Interim Budget 2024)
The following changes in TCS-related provisions were amended by Interim Budget 2024:- No change in TCS proposed in interim budget 2024, Final Budget for 2024 is expected in July 2024. A complete list of TCS (tax collected at source) rates along with related transactions and budget proposals for the financial year 2024-25 (AY-2025-26) is provided
Various Due Dates in Income tax for FY 2024-25(AY 2025-26) – (updated by Interim budget 2024)
Due Dates of Income tax as applicable for FY 2024-25 (AY 2025-26) (A) Due date for filing Income tax Return Category Sub-Category Original Due date Extended due date (if any) Individual & HUF whose accounts are required to be audited u/s 44AB (ITR-3) 31-10-2025 (Audit report is to be filed upto 30-09-2025) A working
Evolution of Settlement Cycles in India’s Equity Market
Settlement Cycles In the context of the equity market, “settlement” refers to the process of transferring securities and funds between the buyer and the seller to complete a trade. This process ensures that the buyer receives the purchased securities, and the seller receives the corresponding payment. Settlement cycles define the timeframe within which these transfers
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The concept of Other Comprehensive income under IFRS with comparison with Ind-AS.
Other Comprehensive Income (OCI) refers to revenues, expenses, gains, and losses that are not included in net income on the income statement, but instead are reported in a separate component of shareholders’ equity called accumulated other comprehensive income. This concept is part of a broader accounting framework that aims to provide a more comprehensive picture
The concept of Other Comprehensive income under IFRS with comparison with Ind-AS. Read More »
Understanding Depreciation, Amortization, Impairment, and Depletion: A Complete Guide
In the financial and accounting world, terms like depreciation, amortization, impairment, and depletion often come into play, especially when assessing the value of assets over time. While these concepts share similarities in that they all relate to the reduction of value of assets, they apply to different types of assets and under varying circumstances. In
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Have you done tax planning for FY 2023-24 before the deadline 31st March 2024?- Checkout what you missed.
Financial year 2023-24 is reaching its end in a few days. 31st March is an important deadline with reference to Financial Planning and Tax Planning, missing it may result in higher tax liability. We are required to complete our tax planning before 31st march 2024, as we are required to file Income tax return for
Solar Flares: A Deep Dive into Nature’s Powerhouse
Solar flares stand as one of the Sun’s most mesmerizing and formidable phenomena, capable of unleashing vast amounts of energy and profoundly impacting Earth’s technological and natural systems. These magnificent bursts of radiation have intrigued scientists for centuries, prompting a dedicated field of study that intersects astronomy, environmental science, and technological resilience. Understanding Solar Flares
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Navigating the Evolution of Transport Technology: From Wheels to the Speed of Light
The story of transportation technology is the story of human progress. From the earliest wheels to the potential of light-speed travel, each innovation reflects our unyielding drive to move faster, further, and more efficiently. This blog journeys through the history of transport technology, explores the present state of mobility, and anticipates the revolutionary changes on
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The Wireless World: Infrared, Bluetooth, and Beyond
In today’s interconnected world, wireless technologies play a pivotal role in facilitating seamless communication between devices, enhancing our experience of technology, and shaping the future of connectivity. Among these, Infrared (IR) and Bluetooth stand out for their unique characteristics, applications, and historical significance. This blog explores these technologies in depth, providing a comprehensive understanding of
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Navigating the Waves of Progress: The Evolution of Communication Technology from 2G to 5G and Beyond
In the ever-evolving landscape of technology, communication systems have seen significant advancements, reshaping how we connect, interact, and share information across the globe. From the advent of 2G to the dawn of the 5G era, each generation of wireless technology has marked a leap forward in connectivity, speed, and possibilities. This blog delves into the
Highlights of Interim Budget 2024 (for FY 2024-25)
An interim budget is presented instead of a full budget in certain years due to the timing of general elections (as for 2024) or when a new government is expected to take office. It allows the current government to manage the country’s finances until the new government is in place to present a full budget.
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Economic survey of India 2023-24 or The Indian Economy: A Review – January 2024 (Before Interim budget for FY 2024-25)
In an election year in India, the budget and economic survey presentation follow a different approach compared to a non-election year. Here’s what generally happens: In summary, in an election year like 2024 in India, instead of the full budget and traditional Economic Survey, an Interim Budget and an alternative economic document (like “Indian Economy
Methods to find out the present value of a future sum of money or future ordinary annuity or any annuity due.
1. Finding the Present value of a sum of money receivable in the future. The present value (PV) of an investment refers to the current worth of a future sum of money, taking into consideration the time value of money. In other words, it’s the amount that needs to be invested today to achieve a
Different methods of forecasting in economics.
Economic forecasting involves the use of various methods and techniques to predict future economic trends, indicators, and outcomes. These methods vary in complexity and accuracy, and they are used by economists, policymakers, businesses, and analysts to make informed decisions. Here are some common methods of economic forecasting: Economic forecasting is a challenging endeavor, and no
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Capital Assets pricing model (CAPM) , its formula and uses.
The Capital Asset Pricing Model (CAPM) is a widely used financial model that helps investors and analysts understand the relationship between risk and expected returns for individual securities or portfolios of assets. It provides a framework for evaluating the required rate of return for an investment based on its risk characteristics relative to the overall
Capital Assets pricing model (CAPM) , its formula and uses. Read More »
Different tools used in Technical Analysis of a stock/share.
Technical analysis involves studying past market data, mainly price and volume, to predict future price movements. Various tools and techniques are used to analyze charts and patterns. Here are some key tools of technical analysis: 1. Candlestick Charts: 2. Chart Patterns: 3. Trend Lines: 4. Moving Averages: 5. Relative Strength Index (RSI): 6. Moving Average
Different tools used in Technical Analysis of a stock/share. Read More »
What is relation between interest rate and inflation?
The relationship between interest rates and inflation is complex and multifaceted, and it’s often discussed in the context of monetary policy, economic conditions, and financial markets. Here are the key points to understand about the relationship between interest rates and inflation: 1. General Relationship: In general, there tends to be a positive relationship between interest
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Methods to find out the future value of an Investment OR Ordinary Annuity OR Annuity due or Incremental Annuity/SIP.
1. Finding the future value of a one-time investment. The future value (FV) of an investment or cash flow represents the value of that investment or cash flow at a specified point in the future, taking into account the effects of interest or investment growth. The formula to calculate the future value is: Where: Here’s
How to calculate intrinsic value per share for a listed company?
Calculating the intrinsic value of a share of a company involves estimating the value of that share based on fundamental analysis and financial metrics. Here are the general steps to calculate the intrinsic value of a share: It’s important to note that calculating intrinsic value is not an exact science. It requires making assumptions about
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Types of computer software and Programming Languages used to develop a computer software
1. Computer Software Computer Software is a sort of program that allows clients to work on different assignments on their system. It tells the working and responsibilities of the System. Basically, Software is a set of instructions or commands that enable a user to get its work done by the computer. Types of computer software
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Which tax regime to choose (Old Tax regime VS New Tax regime) for Financial year 2022-23 (AY 2023-24)
Many people filing income tax return for the financial year 2022-23 and worried about tax regime. Please note that- SLAB RATE UNDER NEW TAX Regime u/s 115BAC for FY 2022-23 Following tax rates will be applicable for Individual & HUF who opted for NEW TAX REGIME for financial year 2022-23 (assessment year 2023-24):- Total Income
Threshold Limit & other aspect of GST Registration and RCM liability on purchase from Unregistered persons
Basics of GST Registration What is Threshold Limit for GST Registration? 1. Threshold limit for GST registration Upto 31st March 2019 Threshold limit for GST registration upto 31-03-2019 is given below:- Category States Threshold Limit Applicability Special Category states Puducherry, Meghalaya, Mizoram, Tripura, Manipur, Sikkim, Nagaland, Arunachal Pradesh and Uttarakhand Rs. 20 Lakh Upto 31.03.2019
EMI (Equal monthly installment) Calculator
Caculate the EMI for your loan using the calculator given below-
EMI (Equal monthly installment) Calculator Read More »
IRR (Internal Rate of Return) Calculator
IRR is the Internal rate of return provided by a proposal. IF we use, IRR as discouting factor for calculation of NPV then NPV will be zero. Hence IRR is the rate of return at which NPV is zero. If IRR is more than required rate of return then the proposal should be accepted but
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NPV (Net Present Value) Calculator
NPV is the net present value of all cash inflows & outflows at required rate of return. Required rate of return = cost of capital + required margin If NPV is positive at required rate of return then proposal should be accepted but if NPV is negative at required rate of return then proposal should
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CAGR (Compound Annual Growth Rate) Calculator
CAGR (Compound Annual growth Rate) is the rate of return given by an investment over many years if compounded annually. For example, If Ms. Radha invested Rs. 100 and which rise to Rs. 121 in two years. Then CAGR would be 10% p.a. CAGR may be understood as IRR for a lump sum investment with
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Present value calculator
Find the the required value to investment to be made to ensure receipts of pre-defined future value…Let’s find out present value… Assumption : 1. yearly compounding.
Present value calculator Read More »
Present value calculator of an ordinary annuity i.e. Annuity at the end of each period
If you want to receive annuity for the certain future period at regular intervals, which is also known as value of financial freedom, let find out how you need to invest today to buy this annuity scheme…
Present value calculator of an ordinary annuity i.e. Annuity at the end of each period Read More »
Find out future value of an annuity due (SIP) ie. Annuity at the beginning of each period
If you invest a fixed sum periodically and let find out how much will be the future value of your SIP.. Assumption : 1. compounding period is taken equal of period of annuity installment.
Monthly pension calculator for EPS-95 pension scheme
To read the basis of calculation of monthly pension, and to know more about EPS-95, CLICK HERE>>>
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Future value calculator
Fill the following data to calculate future value of your lump sum investment:- Assumption : 1. yearly compounding.
Future value calculator Read More »
All about EPS-95 pension Scheme and Option for higher pension under para 11(3) & 11(4) of EPS-95 with changes upto 01.06.2023
What is EPS-95? section 6A(1) of THE EMPLOYEES’ PROVIDENT FUNDS AND MISCELLANEOUS PROVISIONS ACT, 1952 provides that- The Central Government may, by notification in the Official Gazette, frame a scheme to be called the Employees’ Pension Scheme for the purpose of providing for— (a) superannuation pension, retiring pension or permanent total disablement pension to the
Various Due Dates in Income tax for FY 2023-24(AY 2024-25)
Due Dates of Income tax as applicable for FY 2023-24 (AY 2024-25) (A) Due date for filing Income tax Return Category Sub-Category Original Due date Extended due date (if any) Individual & HUF whose accounts are required to be audited u/s 44AB (ITR-3) 31-10-2024 (Audit report is to be filed upto 30-09-2024) A working
Various Due Dates in Income tax for FY 2023-24(AY 2024-25) Read More »
Rates of TCS (Tax collected at Source) for FY 2023-24 (1st April 2023 to 31st march 2024) (by Finance Act 2023)
The following changes in TCS-related provisions were amended by Finance ACT 2023:- 1. Section 206C(1G) – Change in TCS rate w.e.f 1st July 2023. 2. Section 206AB & 206CCA – Exclusion of specified category from non-filers of tax return w.e.f 1st April 2023 These sections provide for Higher TCS/TDS rate for non-filer of ITR but
Rates of Income tax for FY 2023-24 (assessment year 2024-25)
As we know that W.e.f FY 2020-21 i.e. budget 2020, two options of slab rate are available for Individual & HUF as per option given u/s 115BAC. Every taxpayer who is Individual or HUF, have to choose between (i)New tax regime (ii)Old tax regime. Salaried employee have to submit their option to their employer at
Rates of Income tax for FY 2023-24 (assessment year 2024-25) Read More »
Rates of TDS (tax deducted at source) for FY 2023-24 (1st April 2023 to 31st March-2024) (by Finance Act 2023)
The following changes in TDS-related provisions were amended/inserted by Finance ACT 2023:- 1. Introduction of section 194BA: TDS provision for income from online gaming (w.e.f. 1.4.2023) TDS @ 30% is required to deducted by payer on the ‘net winnings’ in the user account at the end of the Financial Year (FY) or at the time
Important Highlights of Budget 2023 regarding Direct Tax, Indirect Tax and other proposals(FY 2023-24)
ON 1st February 2023, Finance Minister of India presented Union budget 2023 . The Finance bill is the part of union budget which includes various tax proposal for next FY i.e. 1st April 2023 to 31st March 2024. The Finance bill is a weapon under Fiscal policy to control economic conditions in the country. For
What to Choose: Old Slab Rate OR New Tax Regime as updated by Finance Budget 2023
In Budget 2023, some amendments are proposed for the new tax regime which was introduced in budget 2020 as an optional reduced slab rate u/s 115BAC. The option of the reduced slab rate was available only to Individuals & HUF. But to opt for this option of reduced slab rate, assesses have to forgo some
What to Choose: Old Slab Rate OR New Tax Regime as updated by Finance Budget 2023 Read More »
Have you done tax planning for FY 2022-23 before the deadline 31st March 2023?- Checkout what you missed.
Financial year 2022-23 is reaching its end in a few weeks. 31st March is an important deadline with reference to Financial Planning and Tax Planning, missing it may result in higher tax liability. We are required to complete our tax planning before 31st march 2023, as we are required to file Income tax return for
Investment in GOLD
Gold is the most secure investment in times of crisis due to its features like global acceptance, liquidity, prestige, demand, etc. In India, people prefer to buy and accumulate gold for marriages, worship, investment, customs, etc. The middle-income group also buys a small quantity of Gold during Festival Season and holds it for any critical
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Six styles of making money in the Stock Market.
Profit is the ultimate motive of the person involved in any business. The share market is seen as an ocean of opportunities to make money based on tip, risk, emotion & luck. As said in the famous dialogue of SCAM 1992 ” शेयर मार्टेक इतना गहरा कुंआ है, जो पूरे देश की पैसे की प्यास
Six styles of making money in the Stock Market. Read More »
Basics of starting with the share market
What are the basic requirements for starting with the share market? An Investor is a person, who is having some idle money that is intended to be invested to get his expected return/profit over a period of time. Hence An investor always keeps searching for beneficial investment proposals so that he can multiply his idle
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PROS & CONS of Fundamental Analysis AND Technical Analysis for investment in SHARE MARKET.
In the share market, most crucial question is, which stock to buy? Different types of retail investors, try to find the answer to this question in different ways:- Some people choose random stocks. Some people choose the script based on random tips, SMS, friend’s call etc. Some people decide on the stock based on their
Basics of Fundamental Analysis: Share market
In Fundamental Analysis, we need to check the accounts of the company to analyse its financial health. In fact, Fundamental analysis of the company is not limited to the balance sheet of a company, but it is wider enough to cover: – Industry-specific analysis. Company Specific analysis. Competitor Specific analysis. Basic Terms used in Fundamental
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Some basic financial terms used in Fundamental Analysis of a script (Share market fundamental analysis)
In the fundamental Analysis of stock, we need to check the financial health of the company for determining the intrinsic value of a share. If the market price of a share is below its intrinsic value, then it is an opportunity to buy otherwise check the next script. The fundamental analysis focuses on the business
List of some important Nutrients, daily requirement, Functions, and their sources
Nutrients are such a chemical formation contained in a food that is essential for our body to survive, grow and reproduce. There are different types of nutrients such as Protein, Carbohydrates, Fiber, Vitamins, and minerals etc. Different Foods have different types of nutrients in different quantities. The nutrient chart given below gives a basic idea
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What is the Impact of change in the interest rate on equity investment/share market?
As we know we are the second largest populated country in the world but in a country of more than 138 crore people, only approximately 1.2 crore people (as per data from NSE) actively invest in the share market. When the prevailing interest rate in the market falls, more people tend to see towards the
What is the Impact of change in the interest rate on equity investment/share market? Read More »
Rates of Income tax for FY 2022-23 (assessment year 2023-24)
(A) Income tax Rates for Individual & HUF (who opted for new tax regime u/s 115BAC) As we know that W.e.f FY 2020-21 i.e. budget 2020, two options of slab rate are available for Individual & HUF as per option given u/s 115BAC. Every taxpayer who is Individual or HUF, have to choose between (i)New
Rates of Income tax for FY 2022-23 (assessment year 2023-24) Read More »
List of 136 incomes on which tax is not required to be paid in India. (Complete List of exempt income along with sections and conditions)
Generally when any person (Individual, HUF, AOP, BOI, AJP, Firm, Company or trust etc.) earn any income, then some part of that income is required to paid to Government in the form of Income Tax as per prevailing provisions of law of the country. But some incomes are exempted by law and tax is not
Advance tax: Are you required to pay Advance tax? What are consequences for not paying Advance tax?
Do you know what is the due date for payment of Income tax for a financial year. ? With the increased list of transactions under the umbrella of TDS and TCS year by year, major part of your income tax is deducted and deposited in the form of TDS/TCS. The balance tax liability is paid
Income tax due dates for FY 2022-23(AY 2023-24)
Due Dates of Income tax as applicable for FY 2022-23 (AY 2022-23) (A) Due date for filing Income tax Return Category Sub-Category Original Due date Extended due date (if any) Individual & HUF whose accounts are required to be audited u/s 44AB (ITR-3) 31-10-2023 (Audit report is to be filed upto 30-09-2023) A working
Income tax due dates for FY 2022-23(AY 2023-24) Read More »
Rates of TCS for FY 2022-23 (1st April 2022 to 31st march 2023)
Budget 2022 was presented on1st February 2022 with historic least number of changes in Income tax. A complete list of TCS (tax collected at source) rate along with related transactions and budget proposals for financial year 2022-23 (AY-2023-24) is provided in the table given below.- TCS Rate Chart for FY 2022-23 (AY 2023-24) Section Nature
Rates of TCS for FY 2022-23 (1st April 2022 to 31st march 2023) Read More »
Rates of TDS (tax deducted at source) for FY 2022-23 (1st April 2022 to 31st March-2023)
Budget 2022 was presented on1st February 2022 with historic least number of changes in Income tax. A complete list of TDS rate along with related transactions and budget proposals for financial year 2022-23 (AY-2023-24) is provided in the table given below.- TDS Rate Chart for FY 2022-23 (AY 2023-24) Payment Type Threshold Limit (Rs) Resident
Rates of TDS (tax deducted at source) for FY 2022-23 (1st April 2022 to 31st March-2023) Read More »
Rates of Income Tax for FY 2021-22 (Assessment year 2022-23)
(A) Income tax Rates for Individual & HUF (who opted for new tax regime u/s 115BAC) As we know that W.e.f FY 2020-21 i.e. budget 2020, two options of slab rate are available for Individual & HUF as per option given u/s 115BAC. Every taxpayer who is Individual or HUF, have to choose between (i)New
Rates of Income Tax for FY 2021-22 (Assessment year 2022-23) Read More »
Important Highlights of Tax Proposals in Union Budget 2022 (FY 2022-23)
Today, i.e. 1st February 2022, Finance Minister of India presented Union budget 2022 . The Finance bill is the part of union budget which includes various tax proposal for next FY i.e. 1st April 2022 to 31st March 2023. The Finance bill is a weapon under Fiscal policy to control economic conditions in the country.
Important Highlights of Tax Proposals in Union Budget 2022 (FY 2022-23) Read More »
Have you done tax planning for FY 2021-22 before the deadline 31st March 2022- Checkout what you missed.
Financial year 2021-22 is reaching its end in a few weeks. 31st March is an important deadline with reference to Financial Planning and Tax Planning, missing it may result in higher tax liability. We are required to complete our tax planning before 31st march 2022, as we are required to file Income tax return for
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 is applicable w.e.f 1st July 2021. It applies to any buyer (Buyer is defined to be person whose total sales or gross receipts or turnover from the business carried on by him exceed ten crore
Financial System and its stages, components, and Functions.
Financial System A “Financial System” is a set of interrelated activities working together to achieve some pre-determined goal. It includes- Markets Financial institutions Financial Instruments Financial services and The Mechanism that influences the generation of savings for investment, capital formation and growth. An efficient financial system plays a key role for an economy to operate
Financial System and its stages, components, and Functions. 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 this reduction of tcs rates was applicable only upto 31.3.2021 and normal Rates are restored w.e.f 1.4.2021. A complete list of TCS rate along with related transactions for financial year 2021-22 (AY-2022-23) is provided in
Rates of TCS for FY 2021-22 i.e. 1st April 2021 to 31st March 2022 (AY 2022-23) 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 tax Planning, missing it may result in higher tax liability. We are required to complete our tax planning before 31st march 2021, as we are required to file Income tax return for FY 2020-21 during
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 upto 31-03-2021. Hence this reduction in TDS rates in not applicable for FY 2021-22. A complete list of TDS rate along with related transactions and budget proposals for financial year 2021-22 (AY-2022-23) is provided in
Rates of TDS for FY 2021-22 (1st April 2021 to 31st March 2022) 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 Category Sub-Category Original Due date Extended due date (if any) Individual & HUF whose accounts are required to be audited u/s 44AB (ITR-3) 31-10-2022 (Audit report is to be filed upto 30-09-2022) A working
Income tax due dates for FY 2021-22 (AY 2022-23) Read More »
List of GST Returns and their Due date of Filing
GST Returns and their Due dates Due date for filing of GST return and Default due date for payment of GST Please refer the table given below, wherein default due date for filing of GST returns is specified along with default due date for payment of GST for each category of taxpayer. Please be informed
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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 reserve which appears to be confusing to many students. Read the complete article to develop such understanding about these terms that you will never forget. Please refer following basic points before going ahead in learning
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 made therein:- Direct tax proposals:- 1. Major Direct Tax Proposals made in budget 2021-22 is given below:- NO change is proposed in direct tax rates / slab rates of income tax, following 32 changes are
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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 attitude play a major role in our decision making. On the basis of risk attitude, people can be divided into the following three categories:- Risk-Averse person:- A person who does not like to take the
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 money in the future is called investment. In today’s economy, there are various investment options available to us like:- Saving bank account Fixed Deposit in Bank Recurring Deposit in bank Fixed Deposit of Corporate Government
Taxability of Mutual Fund: Is your mutual fund taxable or exempt? 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 this reduction of tcs rates was not applicable to all type of transactions and some transactions like sale of liquor shall continue to attract normal rate of TCS. Further some new transactions were also brought
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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%. But this reduction of TDS rates was not applicable to all type of transactions and some transactions like salary, PF payments shall continue to attract normal rate of TDS. Further w.e.f 1-4-2020, some new transactions
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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 & HUF are introduced w.e.f FY 2020-21 but this new slab is optional for taxpayer, taxpayer may choose to pay tax at old slab rate. If tax payer want to opt for this new slab rate
Rates of Income tax for FY 2020-21 (Assessment year 2021-22) 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 Category Sub-Category Original Due date Extended due date Individual & HUF whose accounts are required to be audited u/s 44AB (ITR-3) 31-10-2021 (Audit report is to be filed upto 30-09-2021) 15-03-2022 (Audit report is to
Income tax due dates for FY 2020-21 (AY 2021-22) 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 date for payment of GST (From 01-04-2020 to 31-03-2021) Please refer the table given below, wherein default due date for filing of GST returns is specified along with default due date for payment of GST
GST important Due dates for Financial year 2020-21 Read More »
Insights of Indian Economy before hit by COVID-19
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Last date for filing ITR for FY 2019-20 extended to 31st December 2020
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Last date for filing ITR for FY 2019-20 extended to 31st December 2020 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 30th November 2020 If you have not filed your income tax return for financial year 2018-19 or you want to revise your income tax return for 2018-19(only if assessment is not yet completed) then it
Last date to file ITR for FY 2018-19 extended to 30th November 2020. Read More »
25th August is Last date to apply for November 2020 Examination of ICAI (Institute of Chartered Accountants of India)
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How a Package of Rs. 20 Lakh Crores going to make India – Atmanirbhar Bharat: First Phase-13th may 2020
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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 raise the GST rate on mobile phones and specific parts to 18% form 12%. A completely enhanced capacity with better system of GSTN will be made available by July 2020, instead of Jan 2021. It
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 date for payment of GST (From 01-04-2019 to 31-03-2020) Please refer the table given below, wherein default due date for filing of GST returns is specified along with default due date for payment of GST
GST important Due dates for Financial year 2019-20 Read More »
Important Highlights & Tax Proposals of Finance Budget 2020-21
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Important Highlights & Tax Proposals of Finance Budget 2020-21 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.
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Rates of Income tax for FY 2019-20 (Assessment year 2020-21)
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Rates of Income tax for FY 2019-20 (Assessment year 2020-21) 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 Category Sub-Category Due date Individual & HUF whose accounts are required to be audited u/s 44AB (ITR-3) 30th September 2020 (extended to 31st Jan. 2021) A working partner where the firm in which he
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TDS is introduced in GST w.e.f. 01.10.2018: All about TDS in GST Law
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TDS is introduced in GST w.e.f. 01.10.2018: All about TDS in GST Law 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 assessees liable to file ITRs for AY 2018-19 by 30.09.2018, after considering representations from stakeholders. Liability to pay interest u/s234A of IT Act will remain same. Click here for notification.
Due date for filing ITR extended to 31st Oct 2018 for audit cases. 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 2018 to 15th September 2018 in case of Income tax assessees in state of Kerala who were liable to file their Income tax return by 31st August 2018. Click here to download order
Due date for Filing ITR extended to 15-09-2018 in case assessees in State of Kerala 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 pay tax to Government. Supplier collect tax amount from receiver along with value of goods or services and deposit it to the government. But in case of reverse charge, changeability gets reversed and Receiver of
All About Reverse Charge Mechanism of Goods & Services in GST. Read More »
