Category: Finance

The Automated Clearing House (ACH) is an electronic payment network used for processing various types of financial transactions in the United States. It is a system that enables the secure transfer of funds between banks and other financial institutions. The primary function of the ACH is to facilitate batch processing of transactions, which include direct… Continue reading Automated Clearing House (ACH)

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

Here are the steps on how to file taxes: Gather your tax documents. This includes your Form 16 (if you are a salaried employee), Form 26AS (which shows all the TDS deducted from your salary), and any other documents that show your income and expenses. Choose the right income tax form. There are different income tax forms… Continue reading How to file tax

Under the old tax regime in India, here are some tax-saving ideas you can consider: Utilize deductions under Section 80C: Take advantage of deductions available under Section 80C of the Income Tax Act. You can invest up to Rs. 1.5 lakh in eligible instruments such as Employee Provident Fund (EPF), Public Provident Fund (PPF), National… Continue reading Tax saving ideas under the old tax regime

Personal finance refers to the management of an individual’s financial resources, such as income, expenses, savings, investments, and debt. It involves making informed decisions to achieve financial goals, maintain financial stability, and secure one’s financial future. Here are some key aspects of personal finance: Budgeting: Creating a budget is fundamental to personal finance. It involves… Continue reading Personal Finance

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

Financial planning and investment strategies are crucial for managing your money, achieving your financial goals, and building wealth over time. Here are some key concepts and strategies to consider: Set Clear Financial Goals: Start by defining your short-term and long-term financial goals. Whether it’s saving for retirement, buying a home, or starting a business, having… Continue reading Financial Planning and Investment Strategies

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

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