Being aware of the risks associated with an investment can help investors make better decisions and avoid potential pitfalls. By understanding the different types of risk including Inflation risk, investors can create a more balanced portfolio, reducing the impact of adverse market events and increasing the likelihood of achieving their financial goals. It is possible and …
What is a Partnership Firm? Understanding the Basics and the Role of a Partnership Deed In the world of business, collaboration often opens the door to success. One such collaborative business structure is a partnership firm. Whether you’re launching a boutique, a café, or a consultancy, a partnership can be a great way to pool …
Everything you need to know about Partnership Firm: A Brief Guide Read More »
In an era where financial decisions significantly influence life quality, financial literacy has emerged as a crucial skill for individuals of all ages. It extends far beyond the mere ability to manage a bank account; it encompasses understanding how money works in the world, how someone manages to earn or make it, how that person …
The Role of Financial Literacy in Wealth Creation Read More »
Introduction: Every company is connected to technology in one way or another. Thus, it automatically becomes a Technology company despite working is different sectors and fields. Information Technology encompasses every single aspect of a business: Innovating for new ideas, product designing, sales, communication, onboarding and training, budgeting, cost-and-risk evaluation, deciding the best data-management approaches, customer …
Essential IT Practices for Modern Business Success Read More »
Advance Tax is a system that requires taxpayers to pay income tax in installments throughout the financial year rather than at the end. This method, also known as “pay-as-you-earn” tax, ensures that the government receives tax revenue regularly and helps taxpayers avoid a financial burden at year-end. What is Advance Tax? Advance Tax is income …
Advance Tax in India: Everything You Need to Know Read More »
Freelancing has become a popular career choice, offering flexibility and independence. However, one critical aspect that freelancers must navigate is taxation. Unlike salaried employees, freelancers are responsible for managing their own taxes, including income tax and Goods and Services Tax (GST), where applicable. This blog will provide a comprehensive guide to understanding the tax implications …
Understanding Tax Implications on Freelancing Income Read More »
The Public Provident Fund (PPF) is one of India’s most trusted long-term investment options, offering guaranteed returns, tax benefits, and financial security. For decades, it has been a go-to savings instrument for individuals seeking risk-free investment and tax-saving benefits. However, with the introduction of the new tax regime under Section 115BAC, which eliminates various deductions, …
Investment in PPF: A Comparison Between Old and New Tax Regimes Read More »
Systematic Withdrawal Plan (SWP) is a mutual fund withdrawal option that enables investors to withdraw a fixed amount of money at regular intervals from their investment. It is a smart way to create a steady cash flow while keeping the remaining funds invested and potentially earning returns. How SWP Works When you set up an …
House Rent Allowance (HRA) is a crucial component of an individual’s salary, aimed at providing financial support for rental housing expenses. Section 10(13A) of the Income Tax Act, 1961, allows salaried employees to claim tax exemption on HRA, thereby reducing their taxable income. In this blog, we will explore the eligibility, exemption calculation, conditions, and …
Understanding House Rent Allowance (HRA) under Section 10(13A) of the Income Tax Act Read More »
1. What is Income Tax? Income tax is a direct tax imposed by the government on an individual’s or entity’s income. It is levied based on the income earned during a financial year (April 1 – March 31). Income is not same as Sales / Turnover. In case of businesses Income is generally the profit …
Basics of Income Tax: What is Taxable Income & How Tax Slabs Work? Read More »