To manage a startup at bootstrap stage is a real challenge. You have to manage your team, pay their salaries, market your products/services, pay rent, and what not! Continue reading “How do I manage a startup at initial stage with no funding?”
Yes yes, GST rates are here! India has cleared the way for the biggest tax reform since independence in 1947.
The main beneficiaries of the new goods and services tax, due to be rolled out on July 1, include steelmakers and some consumer goods.
- The food items which currently attracted an average of 12.5% tax under VAT laws will now be taxed at 5% under the new regime.
- Entertainment activities, household and personal care products will become cheaper under the upcoming regime.
- 18% tax slab for telecom, financial services.
- Service tax on non-AC hotels will be 12%, on AC hotels that serve liquor will be 18%. Higher tax rate for luxury hotels.
- Hotels and lodges with tariff below Rs 1,000 will be exempt. Those with Rs 2,500-5,000 will be 18%. Luxury hotels will face tax of 28%.
Half a day is all you need to get into business. As per the Ministry of Corporate Affairs, which is leaving no stone unturned to improve the ease of doing business, it will now become possible to reduce the time to reserve the name of company to half a day, and company incorporation in one third of a day.
As per the Ministry’s website, simplified procedures and a reduction in time and fees, through the successful implementation of e-governance initiatives such as the MCA21 portal and SPICe (Simplified Proforma for Incorporating Company Electronically) forms, will make this feasible.
Most of the deductions under section 80 are also available to NRIs. For FY 2016-17, a maximum deduction of up to Rs. 1,50,000 is allowed under section 80C from gross total income for an individual. Continue reading “Tax Saving Investment Options for NRIs and Senior Citizens”
Section 80G: Deduction for donations towards Social Causes
The various donations specified in Section 80G are eligible for deduction up to either 100% or 50% with or without restriction as provided in Section 80G. Section 80G deduction not applicable in case donation is done in form of cash for amount over Rs 10,000. Continue reading “Know about deductions under Section 80G”
When entire India was fearing Prime Minister Modi’s speech on December 31, expecting another bombshell after demonetization, PM Modi came up with announcement of subsidized interest on home loan. The scheme is set to be implemented.
‘Roti, Kapda and Makaan’ has been the vision of past several governments. Not only the lower income, but middle income groups too dream of their own house. Subsidized home loan is one way of achieving that dream. New Credit Linked Interest Subsidy Scheme for Middle Income Groups (CLSS-MIG) is the government’s step towards a developed India. Continue reading “All you need to know about the government’s subsidy on home loan”
“Yes, I can do it!” I can start a business. But, how?
There is a fire within us to make a dent in the universe. We synonymously call it as passion, which can achieve anything. But, a passion without direction will lead us nowhere. It needs to be put into action, not abruptly, but in an organized way. Let’s climb up the stairs step by step: Continue reading “Passion to Reality: How to start a business?”
The income of NRIs can be taxable, but how will the tax department keep a track on payments made abroad? Form 15CA & 15CB is the answer! It is mandatory for anyone to file these forms before remitting payments abroad, if certain conditions prevail. Continue reading “Form 15CA & 15CB: Your ticket to send money abroad”
In CA In Delhi’s previous blog, we discussed about what are Form 15CA & 15CB, and when do you need them. Form 15CA & 15CB are required to be filed before remitting any payment outside India, if certain conditions are prevailing. Continue reading “List of Payment Outside India With No Form 15CA & 15CB Required”