A brief note on the advance tax liability under the Indian Income Tax Act. Find out, who is liable to pay advance tax and who is excluded from that category? When to pay the advance tax? And what are the consequences for non-payment of advance tax.
Here are the income tax rates for financial year 2018-19 for individuals, Hindu undivided family, association of persons, body of individuals, artificial juridical person post Union Budget 2018.
Filing of income tax return for the 2017-18 financial year is approaching, with the deadline of July 31st for individuals not requiring a tax audit, and September 30th for those that do. Anyone with over 250,000 rupees in taxable income must file a return. Tax audits are mandatory for businesses over 1 crore rupees in sales and professionals over 50 lakhs in receipts. Returns can be filed online or physically, and different forms apply based on income level and sources. Advance tax is due quarterly for those forecasting over 10,000 rupees in tax, and rates range from 5-30% depending on income level with exemptions for seniors.
This document provides instructions for using a tax optimization tool. It states that a taxpayer must be selected before downloading or uploading any files. The user is instructed to download an input sheet, fill it with accurate tax data, and then upload the completed sheet to have a tax expert prepare an optimized tax return using the tool.
The document discusses the steps to calculate income tax in India. It explains that there are three steps: 1) identify all sources of income, 2) identify applicable deductions, 3) apply the relevant tax slab based on gender and age after deductions. It then provides the tax slabs for resident individuals below 65 years old, resident women below 65, and resident senior citizens. The slabs show the tax-free income amounts and tax rates for portions of income above those amounts.
The document outlines the income tax slabs and rates for the fiscal year 2013-2014, including no changes from the previous year's rates. It provides details on a rebate of Rs. 2000 for individuals with total income up to Rs. 5 lakh. Tables are included showing the income tax slabs and rates for various categories including senior citizens, women, and others.
income tax slabs for last ten years. to file income tax return of the financial year. you have to see the income tax slabs for assessment year. income tax slab 2011-12. income tax rates 2010-11, income tax slabs 2009-10.
This document outlines the various types of taxes in India including direct and indirect taxes. Direct taxes include income tax and wealth tax, with income tax rates varying based on taxpayer type (individual, HUF, firm, local authority, or company). Indirect taxes include excise duty, custom duty, central sales tax, value added tax, and service tax. The document also provides details on income tax slabs and rates for individuals of different ages, sources of income, special features of income tax law, recent amendments, and income computation and disclosure standards.
The document provides an overview of income tax and return filing in India. It defines income tax as a tax charged by the Central Government on income under the Income Tax Act of 1961. Incomes are taxed under five heads: salary, house property, business/profession, capital gains, and other sources. The document outlines the tax rates for individuals, HUFs, companies, and partnership firms. It also lists the different forms used for filing returns depending on the type of assessee and income. In the end, the author provides his contact details and thanks participants for their patience.
Here are the income tax rates for financial year 2018-19 for individuals, Hindu undivided family, association of persons, body of individuals, artificial juridical person post Union Budget 2018.
Filing of income tax return for the 2017-18 financial year is approaching, with the deadline of July 31st for individuals not requiring a tax audit, and September 30th for those that do. Anyone with over 250,000 rupees in taxable income must file a return. Tax audits are mandatory for businesses over 1 crore rupees in sales and professionals over 50 lakhs in receipts. Returns can be filed online or physically, and different forms apply based on income level and sources. Advance tax is due quarterly for those forecasting over 10,000 rupees in tax, and rates range from 5-30% depending on income level with exemptions for seniors.
This document provides instructions for using a tax optimization tool. It states that a taxpayer must be selected before downloading or uploading any files. The user is instructed to download an input sheet, fill it with accurate tax data, and then upload the completed sheet to have a tax expert prepare an optimized tax return using the tool.
The document discusses the steps to calculate income tax in India. It explains that there are three steps: 1) identify all sources of income, 2) identify applicable deductions, 3) apply the relevant tax slab based on gender and age after deductions. It then provides the tax slabs for resident individuals below 65 years old, resident women below 65, and resident senior citizens. The slabs show the tax-free income amounts and tax rates for portions of income above those amounts.
The document outlines the income tax slabs and rates for the fiscal year 2013-2014, including no changes from the previous year's rates. It provides details on a rebate of Rs. 2000 for individuals with total income up to Rs. 5 lakh. Tables are included showing the income tax slabs and rates for various categories including senior citizens, women, and others.
income tax slabs for last ten years. to file income tax return of the financial year. you have to see the income tax slabs for assessment year. income tax slab 2011-12. income tax rates 2010-11, income tax slabs 2009-10.
This document outlines the various types of taxes in India including direct and indirect taxes. Direct taxes include income tax and wealth tax, with income tax rates varying based on taxpayer type (individual, HUF, firm, local authority, or company). Indirect taxes include excise duty, custom duty, central sales tax, value added tax, and service tax. The document also provides details on income tax slabs and rates for individuals of different ages, sources of income, special features of income tax law, recent amendments, and income computation and disclosure standards.
The document provides an overview of income tax and return filing in India. It defines income tax as a tax charged by the Central Government on income under the Income Tax Act of 1961. Incomes are taxed under five heads: salary, house property, business/profession, capital gains, and other sources. The document outlines the tax rates for individuals, HUFs, companies, and partnership firms. It also lists the different forms used for filing returns depending on the type of assessee and income. In the end, the author provides his contact details and thanks participants for their patience.
Assignment on Factor affecting avoidance of Income Tax in Bangladesh
Tax experience in practical life
How pay tax
Recent Tax payment system
Problem Face in paying Tax
Recommendation
This document outlines the normal tax rates in India from the 2008-2009 to 2012-2013 financial years for individuals based on their income level, gender, and age. It shows the tax rate and income thresholds for nil, 10%, 20%, and 30% tax brackets. Key details include higher nil tax thresholds for women under 65 and senior citizens aged 60-80 or over 80 years old compared to normal rates. The tax for an individual earning 10 lakh rupees is also provided for each financial year.
Presentation on tax office in dhangadhi,kailaliRamesh Pant
This document provides an overview of taxation in Nepal. It discusses the introduction and types of taxes, the purpose of collecting taxes, tax rates from different sources over recent years, Permanent Account Numbers (PAN), VAT registration requirements, VAT return filing deadlines and penalties, and how the tax office investigates potential tax evasion. The overall aim of taxation is to finance government expenditures and public services.
This document outlines the income tax rates in India from 1992-1993 to 2013-2014. It provides the tax rates for different income slabs for individuals, HUFs, AOPs and BOIs over these years. The tax rates varied from 0% to 50% depending on the income slab and year. Surcharge and education cess were also introduced in some years applicable above certain income thresholds.
The document summarizes key aspects of Australia's indirect tax system including:
- The goods and services tax (GST) rate is 10% and applies to most goods and services, while some items like financial supplies and residential rent are input taxed and health and education are GST free.
- The GST registration threshold is AUD $75,000 in annual turnover including overseas suppliers, and $150,000 for charities.
- Other indirect taxes include payroll tax, land tax, stamp duty, fringe benefits tax, and customs duties on cigarettes, alcohol, luxury cars and fuel.
- Special tax concessions are available for research and development as well as technology investors.
The document provides income tax rates and slabs for individuals, HUFs, BOIs, AOPs, firms, partnerships, companies, foreign companies and cooperative societies in India from assessment years 2001-02 to 2011-12. It lists the tax rates and applicable slabs based on the amount of total income for each category for each assessment year. The rates have varied over the years with some categories like senior citizens and very senior citizens having lower or no tax rates for certain income slabs. Surcharge and education cess are also mentioned where applicable for incomes exceeding certain thresholds.
A Seminar Conducted by Akash Mahagaonkar, Head - Operations & Business Development, Relativity Management Solutions India Private Limited on How to Save Tax when your Income exceeds Rs.50 Lakhs & Above.
This document discusses advance tax in India. Advance tax must be paid if tax liability is Rs. 5,000 or more. It is paid in installments throughout the previous year by both corporate and non-corporate assessees. For non-corporate assessees, installments are due on September 15, December 15, and March 15. For corporate assessees, installments are due on June 15, September 15, December 15, and March 15. Advance tax aims to collect tax revenue earlier and is also known as the "pay as you earn" scheme since tax is paid as income is earned in the previous year.
This document discusses advance tax in India. [1] Advance tax must be paid if tax liability is Rs. 5,000 or more. [2] It is paid in installments throughout the previous year by both corporate and non-corporate assessees. [3] The first installment is due on June 15 for corporates and September 15 for non-corporates, with subsequent installments due on December 15 and March 15, increasing to 100% of estimated tax due.
Income Tax in India, Income taxes are a source of revenue for governments. They are used to fund public services, pay government obligations, and provide goods for citizens.
The first Income-tax Act in India was introduced in 1860 on account of financial stress owing to the mutiny of 1857 and was to be in force for a period of 5 years.
The Income Tax Act 1961 has been brought into force on 1 April 1962. It applies to the whole of India (including Jammu and Kashmir).
An Income Tax in India is a direct tax that a government imposes on the annual income and profits earned by individuals and entities. It is calculated on the net taxable income of a person or entity for the applicable financial/fiscal year, which starts from the 1st of April of a year and ends on the 31st of March of the next calendar year.
1. The document provides a quick guide to Singapore corporate and individual tax laws for 2016. It summarizes Singapore's tax residency rules, tax rates, tax returns and assessments processes for both companies and individuals. For companies, the corporate tax rate is 17% and qualifying newly incorporated companies may receive tax exemptions on a portion of their chargeable income for their first three years. For individuals, tax rates are progressive up to 22% for residents and generally 22% for non-residents.
This document provides information on various tax due dates in India, including for income tax, service tax, VAT, advance tax, and tax deducted at source (TDS). It also outlines the annual and event-based compliance requirements for limited liability partnerships (LLPs) registered in India.
The document discusses advance tax payments in India. It explains that advance tax is income tax paid in installments over the course of a fiscal year, rather than in a lump sum at year-end. Those with a total annual tax liability over Rs. 10,000 must pay advance tax. Due dates for installments are June 15th, September 15th, December 15th, and March 15th, in percentages of 15%, 45%, 75%, and 100% respectively. Failure to meet installment amounts on time will result in late payment interest of 1% per month on the unpaid amount. The document also provides an example calculation of advance tax payments for an individual.
Advance tax must be paid by all individuals whose tax liability is Rs. 5,000 or more. It is paid in installments throughout the previous year to estimate taxes owed on income earned that year. For non-corporate taxpayers, installments are due on September 15 (30% of taxes), December 15 (60%), and March 15 (100%). Corporate taxpayers' installments are due on June 15 (15%), September 15 (30%), December 15 (60%), and March 15 (100%). The advance tax system, also called "pay as you earn," collects taxes concurrently with income to fund government operations on an ongoing basis.
Income tax is imposed on individuals according to their income level through a progressive tax system. The assessment year is the financial year during which a person's income from the previous year is assessed for taxation. Various types of incomes are categorized under different heads and then aggregated to determine the gross total income, from which deductions can be claimed to arrive at the total taxable income. An individual's residential status determines whether their global income is taxable in India.
Here are the steps to calculate income tax for the given total incomes:
1. Total income of Rs. 2,88,000:
- Income up to Rs. 2,50,000 is tax exempt
- Taxable income = Rs. 2,88,000 - Rs. 2,50,000 = Rs. 38,000
- Tax on Rs. 38,000 at 5% slab = Rs. 1,900
- Add education cess @ 4% of Rs. 1,900 = Rs. 76
- Total tax payable = Rs. 1,900 + Rs. 76 = Rs. 1,976
2. Total income of Rs. 7,00,000
- Income up
Objectives & Agenda :
To understand basics of income tax like what is taxable/ non taxable income, residential status, Personal Income tax rates etc. The webinar shall dwell upon other aspects like threshold limit for filing Personal Income tax returns, consequence of not filing/ late filing of returns due dates for filing return and various deductions/reliefs available to individuals. Further it would also provide insights on taxation of overseas income in Singapore.
Under Fundamental Concepts of Income Tax Presentation, Important Definitions under Income Tax Act, Residential Status of the assesses & its tax incidence is covered.
This document discusses various types of documents that can be issued under the GST Act, including invoices, vouchers, debit notes, credit notes, and delivery challans. It provides details on the purpose and required contents of each type of document. It specifies the timelines for issuing invoices and vouchers and clarifies when revised invoices or consolidated invoices would be required. The document aims to help registered persons understand their documentation obligations under the GST Act.
G. K. Kedia & Co. is a Delhi based CA Firm, which has a robust team of skilled and proficient Chartered Accountants, who can handle all financial services related to Income Tax, Goods & Services Tax (GST), Merger & Acquisitions, Due Diligence Services, Trademarks, Investment in India by Foreign Nationals & NRIs, Societies and Trust (NGO), Import-Export, Technology Park & Special Economic Zone, Business Process Outsource (BPO),
Assignment on Factor affecting avoidance of Income Tax in Bangladesh
Tax experience in practical life
How pay tax
Recent Tax payment system
Problem Face in paying Tax
Recommendation
This document outlines the normal tax rates in India from the 2008-2009 to 2012-2013 financial years for individuals based on their income level, gender, and age. It shows the tax rate and income thresholds for nil, 10%, 20%, and 30% tax brackets. Key details include higher nil tax thresholds for women under 65 and senior citizens aged 60-80 or over 80 years old compared to normal rates. The tax for an individual earning 10 lakh rupees is also provided for each financial year.
Presentation on tax office in dhangadhi,kailaliRamesh Pant
This document provides an overview of taxation in Nepal. It discusses the introduction and types of taxes, the purpose of collecting taxes, tax rates from different sources over recent years, Permanent Account Numbers (PAN), VAT registration requirements, VAT return filing deadlines and penalties, and how the tax office investigates potential tax evasion. The overall aim of taxation is to finance government expenditures and public services.
This document outlines the income tax rates in India from 1992-1993 to 2013-2014. It provides the tax rates for different income slabs for individuals, HUFs, AOPs and BOIs over these years. The tax rates varied from 0% to 50% depending on the income slab and year. Surcharge and education cess were also introduced in some years applicable above certain income thresholds.
The document summarizes key aspects of Australia's indirect tax system including:
- The goods and services tax (GST) rate is 10% and applies to most goods and services, while some items like financial supplies and residential rent are input taxed and health and education are GST free.
- The GST registration threshold is AUD $75,000 in annual turnover including overseas suppliers, and $150,000 for charities.
- Other indirect taxes include payroll tax, land tax, stamp duty, fringe benefits tax, and customs duties on cigarettes, alcohol, luxury cars and fuel.
- Special tax concessions are available for research and development as well as technology investors.
The document provides income tax rates and slabs for individuals, HUFs, BOIs, AOPs, firms, partnerships, companies, foreign companies and cooperative societies in India from assessment years 2001-02 to 2011-12. It lists the tax rates and applicable slabs based on the amount of total income for each category for each assessment year. The rates have varied over the years with some categories like senior citizens and very senior citizens having lower or no tax rates for certain income slabs. Surcharge and education cess are also mentioned where applicable for incomes exceeding certain thresholds.
A Seminar Conducted by Akash Mahagaonkar, Head - Operations & Business Development, Relativity Management Solutions India Private Limited on How to Save Tax when your Income exceeds Rs.50 Lakhs & Above.
This document discusses advance tax in India. Advance tax must be paid if tax liability is Rs. 5,000 or more. It is paid in installments throughout the previous year by both corporate and non-corporate assessees. For non-corporate assessees, installments are due on September 15, December 15, and March 15. For corporate assessees, installments are due on June 15, September 15, December 15, and March 15. Advance tax aims to collect tax revenue earlier and is also known as the "pay as you earn" scheme since tax is paid as income is earned in the previous year.
This document discusses advance tax in India. [1] Advance tax must be paid if tax liability is Rs. 5,000 or more. [2] It is paid in installments throughout the previous year by both corporate and non-corporate assessees. [3] The first installment is due on June 15 for corporates and September 15 for non-corporates, with subsequent installments due on December 15 and March 15, increasing to 100% of estimated tax due.
Income Tax in India, Income taxes are a source of revenue for governments. They are used to fund public services, pay government obligations, and provide goods for citizens.
The first Income-tax Act in India was introduced in 1860 on account of financial stress owing to the mutiny of 1857 and was to be in force for a period of 5 years.
The Income Tax Act 1961 has been brought into force on 1 April 1962. It applies to the whole of India (including Jammu and Kashmir).
An Income Tax in India is a direct tax that a government imposes on the annual income and profits earned by individuals and entities. It is calculated on the net taxable income of a person or entity for the applicable financial/fiscal year, which starts from the 1st of April of a year and ends on the 31st of March of the next calendar year.
1. The document provides a quick guide to Singapore corporate and individual tax laws for 2016. It summarizes Singapore's tax residency rules, tax rates, tax returns and assessments processes for both companies and individuals. For companies, the corporate tax rate is 17% and qualifying newly incorporated companies may receive tax exemptions on a portion of their chargeable income for their first three years. For individuals, tax rates are progressive up to 22% for residents and generally 22% for non-residents.
This document provides information on various tax due dates in India, including for income tax, service tax, VAT, advance tax, and tax deducted at source (TDS). It also outlines the annual and event-based compliance requirements for limited liability partnerships (LLPs) registered in India.
The document discusses advance tax payments in India. It explains that advance tax is income tax paid in installments over the course of a fiscal year, rather than in a lump sum at year-end. Those with a total annual tax liability over Rs. 10,000 must pay advance tax. Due dates for installments are June 15th, September 15th, December 15th, and March 15th, in percentages of 15%, 45%, 75%, and 100% respectively. Failure to meet installment amounts on time will result in late payment interest of 1% per month on the unpaid amount. The document also provides an example calculation of advance tax payments for an individual.
Advance tax must be paid by all individuals whose tax liability is Rs. 5,000 or more. It is paid in installments throughout the previous year to estimate taxes owed on income earned that year. For non-corporate taxpayers, installments are due on September 15 (30% of taxes), December 15 (60%), and March 15 (100%). Corporate taxpayers' installments are due on June 15 (15%), September 15 (30%), December 15 (60%), and March 15 (100%). The advance tax system, also called "pay as you earn," collects taxes concurrently with income to fund government operations on an ongoing basis.
Income tax is imposed on individuals according to their income level through a progressive tax system. The assessment year is the financial year during which a person's income from the previous year is assessed for taxation. Various types of incomes are categorized under different heads and then aggregated to determine the gross total income, from which deductions can be claimed to arrive at the total taxable income. An individual's residential status determines whether their global income is taxable in India.
Here are the steps to calculate income tax for the given total incomes:
1. Total income of Rs. 2,88,000:
- Income up to Rs. 2,50,000 is tax exempt
- Taxable income = Rs. 2,88,000 - Rs. 2,50,000 = Rs. 38,000
- Tax on Rs. 38,000 at 5% slab = Rs. 1,900
- Add education cess @ 4% of Rs. 1,900 = Rs. 76
- Total tax payable = Rs. 1,900 + Rs. 76 = Rs. 1,976
2. Total income of Rs. 7,00,000
- Income up
Objectives & Agenda :
To understand basics of income tax like what is taxable/ non taxable income, residential status, Personal Income tax rates etc. The webinar shall dwell upon other aspects like threshold limit for filing Personal Income tax returns, consequence of not filing/ late filing of returns due dates for filing return and various deductions/reliefs available to individuals. Further it would also provide insights on taxation of overseas income in Singapore.
Under Fundamental Concepts of Income Tax Presentation, Important Definitions under Income Tax Act, Residential Status of the assesses & its tax incidence is covered.
This document discusses various types of documents that can be issued under the GST Act, including invoices, vouchers, debit notes, credit notes, and delivery challans. It provides details on the purpose and required contents of each type of document. It specifies the timelines for issuing invoices and vouchers and clarifies when revised invoices or consolidated invoices would be required. The document aims to help registered persons understand their documentation obligations under the GST Act.
G. K. Kedia & Co. is a Delhi based CA Firm, which has a robust team of skilled and proficient Chartered Accountants, who can handle all financial services related to Income Tax, Goods & Services Tax (GST), Merger & Acquisitions, Due Diligence Services, Trademarks, Investment in India by Foreign Nationals & NRIs, Societies and Trust (NGO), Import-Export, Technology Park & Special Economic Zone, Business Process Outsource (BPO),
Income year,Tax year & tax Rate of BangladeshAfiaAnzum
The document provides information about income year, assessment year, tax rates, and tax identification numbers (TIN) in Bangladesh. It defines assessment year as the year in which tax is paid, and income year as the year to which the income being taxed refers. It explains that the income year and assessment year can be the same or different depending on the type of taxpayer. The document also outlines Bangladesh's minimum taxable income limits, general tax rates, and surcharges on income tax based on asset levels. It provides details about 12-digit TINs, including how they are issued and required uses.
Income Tax for New Tax Return Filers- FAQs.pptxtaxguruedu
This article provides a detailed overview of income tax, including its definition, the administrative framework, return filing period, who is liable to pay tax, how to pay tax, precautions in tax payment, advance tax calculation, income tax challans, Form 26AS, exempt income, taxable income, maintaining books of account, professions, and the period for which records should be kept. It also covers topics such as revenue receipts, capital receipts, agricultural income, and relief from double taxation.
The document discusses various aspects of income tax in India including income tax, advance tax, assessment, returns and related topics. Some key points:
1. Income tax is a direct tax charged by the central government on the annual income of individuals and businesses. It is calculated based on tax slabs defined by the Income Tax Department.
2. Advance tax is a method of collecting tax in advance throughout the year in the form of installments to match the taxpayer's estimated annual liability.
3. There are different types of income tax assessments including self-assessment, summary assessment, scrutiny assessment, best judgement assessment, and income escaping assessment. Faceless assessment is now conducted electronically without any physical interface between the taxpayer
The document discusses Tax Deduction at Source (TDS) in India. Some key points:
- TDS is a system where the payer of certain types of payments like salary, rent, interest, etc. is required to deduct a percentage of tax from the payment amount.
- Common deductions include interest, commission, rent, salary. The deducted amount is paid to the government on behalf of the recipient.
- TDS rates vary based on the type of income and thresholds. For example, interest income above ₹40,000 is taxed at 10%.
- Form 26AS issued by the employer/payer shows the TDS deducted from salary payments.
This document provides an overview of key concepts related to income tax assessment in India, including:
- Definitions of basic terms like assessee, assessment year, and previous year.
- Explanations of the assessment process and roles of the assessing officer.
- Details on tax rates for individuals and corporations.
- Formats for computing total income and tax liability.
- Due dates for filing income tax returns in different forms.
- The types of assessments including self-assessment, summary assessment, and reassessment.
- Procedures for notices of demand and penalties.
Similar to Advance tax - Who should pay and when? | CA Sana Baqai (20)
The document discusses best practices for writing powerful internal audit reports. It emphasizes the importance of clear and concise communication through the use of plain language and visual aids. It provides tips for different sections of an audit report including the executive summary, findings, conclusions, and recommendations. The document also outlines dos and don'ts for effective report writing such as following the five C's framework, emphasizing potential improvements, and obtaining stakeholder feedback.
The document discusses start-up trends that are likely to grow after the COVID-19 pandemic. Some sectors that are expected to grow include ed-tech, health and wellness, agri-tech, SAAS, e-commerce, and online gaming. It also outlines challenges start-ups faced during the pandemic, such as cash management, changing valuations, leadership complexities, and changing space needs. Finally, it provides tips for start-up survival during the pandemic, including doing reality checks, lending help to customers, caring for employees, communicating often, using time wisely, applying for financing, and looking for new opportunities.
As we all know, the Companies Act, 2013 has brought about significant changes to the corporate governance landscape in India. One of the key areas where these changes are being felt is in internal audit and control. It is no longer enough for companies to simply tick the boxes when it comes to internal audit and control. They must go beyond that and ensure that their internal audit and control processes are effective and compliant with the Companies Act, 2013.
The Companies Act, 2013 (CA, 2013) has introduced a number of new requirements for companies in relation to income audit and control. These requirements are designed to improve the accuracy and reliability of financial reporting, and to reduce the risk of fraud and error.
One of the key changes introduced by the CA, 2013 is the requirement for companies to have an internal audit function. The internal audit function is responsible for providing independent assurance to the board of directors on the effectiveness of the company's internal controls over financial reporting.
Networking of CA Firms – ICAI GuidelinesSana Baqai
The Council of ICAI issued Network Guidelines for the first time in the year 2005, and thereafter, the same was revised by the Council in the year 2011.
The previous guidelines did not fetch the expected level of enthusiasm from
members, and only close to 100 networks could get registered with ICAI as of date. This threw up the need to review the Guidelines in order to make them more relevant and attractive in terms of the current professional scenario.
It is of paramount importance to enable Indian CA Firms to come together and grow stronger so that they can serve the need of the country as we move to become a $5 trillion economy and also render services in the global market.
Effective Tips for Time management – Increase your productivity | CA Sana BaqaiSana Baqai
We all have limited time in hand to accomplish the tasks and achieve the goals. Therefore, proper time management is a tool for success. We have to attain the set goals in a specified time frame.
Here are certain tips for time management.
Click here to watch the video - https://youtu.be/lIQWt6Y_TBw
Tips for Making Effective and Powerful PowerPoint Presentation | Sana BaqaiSana Baqai
The document provides rules for creating an appealing and powerful presentation. It advises avoiding cluttered slides with too much text or many bullet points. Presenters should not include more than 7 words per line or 7 lines per slide. Slides should emphasize key points through visuals rather than long paragraphs of text and aim to be a visual aid rather than distraction.
Latest Format for Audit Report and Financials for LLP | CA Sana BaqaiSana Baqai
Where Turnover of Limited Liability Partnership exceeds Rs. 40 lac or partner’s obligation of contribution exceeds Rs. 25 lakhs then LLP is required to get its books of accounts audited.
On completion of the audit, the auditor issues Audit Report to the partners of LLP. The LLP Audit report contains information about Management responsibility, auditor responsibility & Audit Opinion.
Here is the latest Audit Report and financial statements format for LLP.
Tax Rates for Assessment Year 2021 22 | CA Sana BaqaiSana Baqai
For the assessment year 2021-22 i.e. for Financial year 2020-21 the tax rates for individuals, partnership firms, LLP, Indian Companies, Foreign Companies are defined in this document.
The tax rates may vary from year to year and changes in tax rates take place every year through Unio Budget announced by Finance Minister in the month of February.
All about Section 44AD of the Income Tax Act | Sana BaqaiSana Baqai
Special provision for computing profits and gains of business on a presumptive basis. Under section 44AD of Income tax Act, small taxpayers with less than Rs. 2 crore of turnover are not required to maintain books of accounts and their profits are presumed to be 8% or 6%, as the case may be, of their turnover.
Agreement for CSR Implementation Partner / Agency / NGO | Sana BaqaiSana Baqai
This document contains an agreement between ABC Ltd and XYZ Foundation regarding funding from ABC for XYZ's project "Girls Empowerment through Education".
Key details include:
- ABC will provide Rs. 76 lakhs in funding for the project over 3 years.
- Payments will be made in installments based on progress reports and utilization certificates submitted by XYZ.
- XYZ will implement the project as per the agreed scope and timeline.
- Both parties will adhere to reporting, accounting and auditing requirements to ensure proper use of funds.
- Unspent funds must be refunded by XYZ upon completion of the project.
The agreement outlines the roles and responsibilities of both parties to ensure effective implementation
Highly Effective Tips for Impressive Presentation | Sana BaqaiSana Baqai
Making an effective presentation requires good presentation skills & techniques. You will learn tips on how to prepare, how to present and effective use of PPT.
Foundation of Internal Auditing | Sana BaqaiSana Baqai
It aims to give a basic understanding of the internal audit. Recognize the knowledge, skills, and competencies required to fulfill the responsibilities of the internal audit activity. It also interprets the difference between assurance and consulting services provided by the internal auditor.
Emerging Issues and Challenges | Sana BaqaiSana Baqai
The document discusses various topics related to internal auditing including financial accounting and budgeting risks, business challenges, project management, organizational change, fraud risks, forensic accounting, and emerging issues. It provides details on budget variance analysis, internal audit areas of focus, challenges during the pandemic, and comparisons of in-house, outsourcing, and co-sourcing internal audit assignments. Risk management approaches including the COSO framework are outlined. Types of fraud investigations like corruption, asset misappropriation, and financial statement fraud are defined. Emerging issues facing internal auditors related to technology and standards are also noted.
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
Discover the Future of Dogecoin with Our Comprehensive Guidance36 Crypto
Learn in-depth about Dogecoin's trajectory and stay informed with 36crypto's essential and up-to-date information about the crypto space.
Our presentation delves into Dogecoin's potential future, exploring whether it's destined to skyrocket to the moon or face a downward spiral. In addition, it highlights invaluable insights. Don't miss out on this opportunity to enhance your crypto understanding!
https://36crypto.com/the-future-of-dogecoin-how-high-can-this-cryptocurrency-reach/
Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
Every business, big or small, deals with outgoing payments. Whether it’s to suppliers for inventory, to employees for salaries, or to vendors for services rendered, keeping track of these expenses is crucial. This is where payment vouchers come in – the unsung heroes of the accounting world.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
An accounting information system (AIS) refers to tools and systems designed for the collection and display of accounting information so accountants and executives can make informed decisions.
Advance tax - Who should pay and when? | CA Sana Baqai
1. Advance Tax – Who Should Pay and When?
Author - CA Sana Baqai
What is Advance Tax?
We earn income during the previous
year, but we furnish the details related
to income and taxes after completing the
previous year. However, it is required to
pay the tax in the previous year itself
instead of the assessment year for a
certain category of taxpayers. Such tax
paid during the previous year is called
advance tax.
Who is required to pay advance tax?
Any person whose tax liability for the year is more than Rs. 10,000 is required
to pay advance tax.
Who is not required to pay advance tax?
o Advance tax is not payable by a resident senior citizen or super senior
citizen who does not have business income.
o Any assessee whose tax liability does not exceed Rs. 10,000.
When to pay advance tax?
Advance tax is paid in instalments during the previous year. The due dates
are as under:
Taxpayer Type By 15th
June
By 15th
September
By 15th
December
By 15th
March
All types of taxpayers
(other than those who
opted for presumptive
taxation scheme)
Upto 15% of
advance tax
Upto 45%
of advance
tax
Upto 75%
of
advance
tax
Upto
100% of
advance
tax
Taxpayers who opted
for the presumptive
taxation scheme under
section 44AD and
44ADA
NIL NIL NIL Upto
100% of
advance
tax
Consequences of not paying advance tax
If the advance tax is not paid or short paid or not paid as per the instalments
mentioned above, interest under section 234B and 234C shall be levied.