Author: Daniya Kurian

The Employees’ Provident Fund or EPF is a popular savings scheme that has been introduced by the EPFO under the supervision of the Government of India. The employee and employer each contribute 12% of the employee’s basic salary and dearness allowance towards EPF Individuals may opt for either partial or complete withdrawal of EPF. But… Continue reading EPF Withdrawal Rules

Be it an individual or any business/organization, all have to pay the respective taxes in various forms. These taxes are further subcategorized into direct and indirect taxes depending on the manner in which they are paid to the taxation authorities. Direct tax Direct tax is one that is levied directly on a taxpayer. It is… Continue reading Types of Taxes

 A nil return is an ITR filed specifically to declare to the Income Tax department that no taxes have been paid in the respective financial year. Nil returns can be filed only when the income is below the exemption limit of rs.2.5 lakhs or when a rebate reduces the tax liability to zero ITR may… Continue reading Benefits of filing nil returns

Direct tax impacts your disposable income and reduces it. However, the Income Tax Act, 1961 has listed various ways in which you can reduce the burden of direct tax. Some of these ways are as follows – Invest in life insuranceLife insurance plans are tax-saving financial protection solutions. The premium invested earns you a tax… Continue reading Ways to save direct tax

Here is a step-by-step breakdown of the entire registration process: ere is a step-by-step breakdown of the entire registration process: Apply for a digital signature certificate. It is a digital equivalent of a physical signature and is a requirement for all directors and shareholders. Only authorised personnel can use such signatures. Apply for a director identification… Continue reading How to register a private limited company?

National Defence Fund set up by the Central Government. Prime Minister’s National Relief Fund. In presumptive taxation under Section 44AD, your net income is considered as 8% of your turnover and you will pay tax on that income. If your receipts are in digital (non-cash) form then only 6% of your receipts is your net… Continue reading Benefits of Presumptive Taxation

The SOP for TDS under GST further elaborates the cases where TDS under GST need not be deducted. 1.The total taxable value of supply is less than or equal to Rs.2,50,000 2.Receipt of goods or services which are exempted as per notification no. 12/2017 and 2/2017 dated 28.06.2017 as amended from time to time. 3.Goods… Continue reading Non-applicability of TDS under GST

Bull Market This situation is defined as a marketplace whereby the prices of listed securities continuously rise due to favorable macroeconomic scenarios or improved internal circumstances of the firm or sector. In general, the terminology applies to stocks, but it also gets referenced to other asset class such as Bonds, FOREX, and Commodities, etc. Since the laws of demand and… Continue reading Bull Market vs Bear Market

As a new financial year begins, many Indians are looking for ways to maximise their savings and minimise their tax liabilities. One popular investment option that offers potential tax benefits is Fixed Deposits (FDs). In this , we’ll explore the  most effective ways to save on taxes with FDs and how they can be a… Continue reading 5 Best Ways to Save on Taxes with Fixed Deposits