Why forex reserves are important for any growing economy?
What are forex reserves? Forex reserves also known as foreign exchange reserves are a country’s resources. They are a country’s assets in the central bank of the respective country. The denomination is not local currency. These financial assets are in foreign currency. Usually, it is in US dollars, given that it is the most traded […]
Top Loss-Making Startups in India.
When first emerged, business was only meant to be something that helped you make money. It was like a cycle in which you invested, then you make something, sell that something, gain profit and use that profit money to grow your business. But now startups are not like that anymore. Especially for startups. And now […]
What Happens If you don’t file Your ITR?
Income tax is a direct tax that a government levies on the income of its citizens. The Income Tax Act, 1961, mandates that the central government collect this tax. Taxes are sources of revenue for the government. The government utilizes this revenue for developing infrastructure, providing healthcare, other government welfare schemes. Before we enter into […]
What you Know about your PAN Card?
PAN is a ten-digit unique alphanumeric number issued by the Income Tax Department. PAN stands for Permanent Account Number. A PAN card is a valuable means of photo identification accepted by all Government and non-Government institutions in the country. It is mandatory to have a PAN for conducting financial transactions such as filing for Income […]
Protect your PAN card from Misuse
A PAN card is a valuable means of photo identification accepted by all Government and non-Government institutions in the country. PAN stands for Permanent Account Number. PAN enables the department to link all transactions of the assessee with the department. The transactions herein mentioned include tax payments, TDS/TCS credits, returns of income, specified transactions, correspondence […]
Recommendations of 43rd GST Council meeting
Highlights of Recommendations of 43rd GST Council meeting: Amnesty Scheme to provide relief to taxpayers regarding the late fee for pending returns. The late fee also rationalized for future tax periods. COVID-19 related medical goods including Amphotericin B for free distribution given full exemption from IGST up to 31.08.2021. Custom duty exemption is also given […]