Blog

2016
  • Are you usually punctual or late? Do you finish things within the time you stipulate? Do you hand in your reports/work on time? Are you able to accomplish what you want to do before deadlines? Are you a good time manager?
  • If your answer is “no” to any of the questions above, that means you’re not managing your time as well as you want. Here are 20 tips on how to be a better time manager:
    1. Create a daily plan. Plan your day before it unfolds. Do it in the morning or even better, the night before you sleep. The plan gives you a good overview of how the day will pan out. That way, you don’t get caught off guard. Your job for the day is to stick to the plan as best as possible.
    2. Peg a time limit to each task. Be clear that you need to finish X task by 10am, Y task by 3pm, and Z item by 5:30pm. This prevents your work from dragging on and eating into time reserved for other activities.

Archive


2016
  • Pursuing with an objective to finance and promote initiatives to improve agriculture and farmer welfare, the Government announced a new cess namely ‘Krishi Kalyan Cess’ (“KKC”), to be levied at 0.5% on the value of all taxable services w.e.f June 1, 2016. In this regard, a new Chapter VI is inserted in the Finance Bill, 2016, containing relevant provisions, which are applicable with enactment of the Finance Act, 2016.
  • Proceeds of KKC first be credited to Consolidated Fund of India and the CG may, after due appropriation made by Parliament by law in this behalf, utilize such sums of money of KKC for specified purposes.
  • Hence, after levy of KKC, Service tax rate will increase from 14.5% to 15%, effective from June 1, 2016. In this regard, there are many queries, which require clarification. We have summarized these queries through Frequently Asked Questions (FAQs) enumerated below.

2016
  • As you are aware, currently online upload of e-TDS/TCS statement(s) and Annual Information return (AIR) facility is provided by NSDL e-Governance Infrastructure Limited (NSDL e-Gov) on behalf of Income Tax Department (ITD).
  • We hereby inform that from May 1, 2016, the functionality of Online Upload of e-TDS/TCS statement(s) will be available on e-filing portal of Income Tax Department.
  • The Deductor must have registered the TAN at Income Tax Department’s e-Filing Portal using a valid Digital Signature Certificate. To know detailed procedure on how to register as ‘Tax Deductor and Collector’ please check the attached manual.

2016
  1. Krishi Kalyan Cess @ 0.5% on gross value of taxable services (from 01.06.2016) Total ST rate @ 15%.
  2. AC Bus service by Road Transport Corporation taxable @ 6% (from 01.06.2016).
  3. Rate of ST for the package tour increased from 3.625% to 4.35%.
  4. ST on foreman commission at 10.15%.
  5. Rate of ST for sale of flats increased from 3.625% to 4.35%.

2016

GOOGLE ECONOMICS

  • There are three dominant tech giants, i.e. Apple, Microsoft and Google. We all know how apple and Microsoft make money but we always wonder how does Google makes money as virtually it is providing everything free. So meteoric is the rise of the Google that every one wonders how it earns. In the year 2014 Google had revenue of whopping $66 billion and net profit of $14 billion. That's an astonishing figure.

HOW GOOGLE EARNS

  • We all know Google's major revenue comes from advertisement. 96% of Google's revenue comes from advertisement. But still question remains how? The answer to the question is Google AdSense and Google AdWords.

2016

Step-wise Procedures and Guide for e-filing of Form 15G, 15H in electronic form by the deductors to the office of the income tax

  • CBDT vide notification No. 76/2015 dated 29/09/2015 provided for the electronic filing of form 15G and form 15H declarations by person claiming receipt of certain incomes without deduction of tax wef 01/10/2015.
  • Later Directorate of income-tax (Systems) vide Notification No. 04/2015 dated 01/12/2015 further specified the procedure , formats and standards facilitating electronic filing of the Form 15G and 15H.
  • Electronic formats have since been finalized and have been made live. Income Tax Department has also specified Instructions to e-File “Statement of Form 15G/15H which are reproduced here under together with added visuals to help users.

Financial Management