Blog

2013

With the budget announced last month, we now know the status of new and existing tax free and tax rebate investments for 2013-14, and in this post I’m going to try and list down each and every investment opportunity in India that gives you a tax benefit of some kind.

Before going through the individual investments, let’s take a look at the broad categories where they fall.

  • Tax Free Investments: Tax free investments are those investments where the income earned from them is not taxable. For example, the interest that you earn from a tax free bond is not taxable. There aren’t many such investment options available in India.

Archive


2013

We all have heard about Goods & Services Tax. It is one of the many legislations that are pending in the list of changes that we might expect in times to come. But GST is something totally different from all these. This tax is a consolidation of many indirect taxes already levied in India, thereby drastically overhauling the system of indirect taxes in India.

The need for GST

2013

The Companies Bill 2012, passed by the Lok-Sabha introduces a new form of Company by the name of “One Person Company” (OPC). Its concept is parallel to the existing concept of Sole-proprietorship  whereas it shall be recognized as separate legal entity distinct from its promoter and proprietors. This form is already prevalent in some of the developed countries in the world namely, China, USA, Singapore, and many countries in Europe and shall pave its way in India after bill is passed by   Rajya- Sabha.

What is One Person Company?

2013

The Features of excel utility:

  1. It includes all TDS Rates as per Income-tax Act
  2. Rate of TDS if payee doesn’t furnish his PAN
  3. Exemptions, if any, provided from deduction of tax

2013

Why Tax Departments depend on XML language to upload returns

We know the importance of “.XML” language to file income Tax / Service Tax return and therefore we must know some basic answers of certain questions related to “.XML” viz.

What is XML? How it works within the income and service Tax return? And Why did Government choose only .xml format for the automation process?

XML provides many benefits to Tax departments. The XML data can be stored, protected, queried, and analyzed within a database that is optimized for XML.

2013

What causes the rupee to depreciate?

Reasons which cause the rupee to fall in comparison to dollar are:-

  • Demand supply Rule The value of rupee follows the simple demand and supply rule of economics. If the demand for the dollar in India is more than its supply, dollar appreciates and rupee depreciates.
  • Dollar gaining strength against the other currencies The central banks of Euro zone and Japan are printing excessive money due to which their currency is devalued. On the other hand, US fed has shown signs to end their stimulus. Hence, making the US dollar stronger against the other currencies including the India rupee, at least in the short term.
Financial Management