Author: Beena Wilson

RCM charges refer to Reverse Charge Mechanism charges. The reverse Charge Mechanism is a tax compliance mechanism used in some countries to shift the liability to pay taxes from the supplier of goods or services to the recipient or buyer. Under the Reverse Charge Mechanism, the buyer of goods or services is required to self-assess… Continue reading RCM Charges

Monitoring these KPIs can help you identify potential cash flow issues and take proactive steps to address them 1. Operating Cash Flow Ratio – measures the cash generated by a company’s operations to cover its current liabilities. 2. Free Cash Flow – the cash available to a company after accounting for capital expenditures. 3. Cash… Continue reading 10 Essential Cash Flow KPIs to Monitor

CTC (Cost to Company) refers to the total amount of money a company spends on an employee, including their salary, benefits, bonuses, and any other perks. On the other hand, the in-hand salary is the actual amount that an employee receives after taxes and other deductions have been taken out. ▶ Here are some of… Continue reading CTC (Cost to Company)

The Income Tax Act has classified the types of taxpayers into various categories. Different tax rules apply to different types of taxpayers. Everyone who earns or gets an income in India is subject to income tax. (Yes, be it a resident or a non-resident of India). For simpler classification, the Income tax department breaks down income… Continue reading Types of Income

Because of a mix of exclusions and deductions, your taxable income may be affected by a substantial amount. So, in order to maximize your earnings, savings, and assets each year and keep your taxable income to a minimal, tax planning is essential. While exemptions are part of your salary, like the House Rent Allowance (HRA) and Leave Travel… Continue reading Deductions and Exemptions Available under the Old Tax Regime

Individual taxpayers in India are taxed based on a slab system. Income tax slabs refer to different tax rates applied to different income ranges. These tax rates increase as the taxpayer’s income increases. Typically, this type of taxation allows for progressive and fair tax systems. Every year, the tax slab structure changes during the Union… Continue reading The Income Tax Slab – Old Regime