Fixed deposits are financial investments from which you can get interest at a fixed rate by investing for a fixed period. If you are a risk averse or you want to go with low risk investments then fixed deposit is one of the best investment options. You can choose any bank for fixed deposit. There are different types of FDs available in market. You can choose one of them based … [Read more...] about How to avoid TDS on fixed deposit
Archives for October 2013
House Rent Allowance (HRA) – Tips to lower your taxes
House rent allowance is a grant provided by the employer to the employee to meet the cost of living in a rented house. Its also referred to as HRA allowance. HRA allowance forms part of the salary that the employee receives from the employer every month. Indian Income tax act provides tax exemption under section 10(13A) read with rule 2A due to which the entire amount of … [Read more...] about House Rent Allowance (HRA) – Tips to lower your taxes
PIN for a credit card – Personal identification number
To enhance security of your online card transaction, RBI has made it mandatory to have an authentication pass code (PIN) for all online transactions. Such PIN has to be verified by VISA or MASTERCARD secure code. By adding an extra security layer at the checkout point we expect all online transactions are to be safer in future. With this, from 1st of august it’s mandatory … [Read more...] about PIN for a credit card – Personal identification number
Can you file your income tax return after the due date
Most people miss the due date of filing income tax returns every year due to their busy schedules, lack of time, or for some other personal reasons. The due date for filing a income tax return is the date by which the return can be filed by the assess without any late fee or penalty. In this article we will answer the most frequently asked question by an individual … [Read more...] about Can you file your income tax return after the due date
Forms required for applying a PAN card in India
PAN card can be applied by using form 49A or 49AA. You can download these forms online or can be prepared on your own. If you are applying through a TIN FC then such forms are also available there. Now the biggest question that is asked by a common man is which form I should use for applying a PAN. Individuals who are citizens of India are required to apply in form no … [Read more...] about Forms required for applying a PAN card in India
How to get a PAN card for your company
PAN is basically a 10 digit alphanumeric number which is allotted to a company who applied for it. Such cards are allotted under the supervision of Central board of direct taxes (CBDT). It is similar to the social security number used in USA. The primary objective of a Permanent Account Number is to use it as an identification number for tracking all financial transactions that … [Read more...] about How to get a PAN card for your company
How to Open a PPF account in SBI
To mobilize small savings, Public provident fund Scheme is introduced by the National Savings Organization in 1968. Public provident fund or PPF scheme is one of the best investment option which not only save your taxes but also earn you good return every year. A PPF account can be opened with any authorized SBI branch in your city or nearer to your locality. By using … [Read more...] about How to Open a PPF account in SBI
Appointment of first auditor for a company – Companies Act 2013
Company registered in India is required to appoint an individual or a audit firm as it's first auditor after its incorporation. Accounts of the company's are required to be audited by such first auditor. At the year end, financial statements along with the auditor’s report are to be filled with register of companies (ROC) within 30 days after completion of annual general … [Read more...] about Appointment of first auditor for a company – Companies Act 2013
How to open a current account for your company
Current accounts in a bank are opened by business men who have higher turnover with regularly business transactions taking place in bank. Our saving account has a limit on withdrawal even irrespective of the balance in your account. There are also restrictions on per day withdrawal limit. One person can not withdraw more than the specified limit of the saving A/c. One can … [Read more...] about How to open a current account for your company
Lunch and refreshment paid at office places are taxable
Employers in India are providing sodexo coupons or ticket restaurant coupons to their employees which can be used by such employees at eating points. Lunch, dinner or refreshment allowance paid by employer to employee is chargeable to income tax. Allowances provided at remote or offshore place Food and non alcoholic beverage provided by an employer to an employee in … [Read more...] about Lunch and refreshment paid at office places are taxable