How is Tax levied on Rent from Vacant Land?

Many a times people earn income by letting out their vacant land. It could be monthly rental income or a one time income by letting it out for an event or it could be any other way in which some...

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The new classification of MSME on the basis of Turnover

The classification of MSME for both goods and services organisation is done on the basis of the turnover and is as follows:- Classification Turnover Micro Enterprise Upto Rs. 5 Crores Small Enterprise Rs. 5 Crores to Rs. 75 Crores Medium...

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Tax on Guaranteed Income Plan

Guaranteed Income Plan is a type of savings plan cum insurance plan that promises guaranteed annual income after a fixed period. It is non-linked, non-participating endowment plan where the policyholder pays the premium until maturity and gets a regular payout...

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Difference between Savings Account and Current Account

The two most common bank accounts are savings account and current account. These two are the most widely used accounts, and often banks offer variety of features in these accounts. But seldom do people know the difference between the two...

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How I stay updated with the latest Tax Laws and you can too

The day I qualified my CA Exams, I was on 7th heaven and very confident that clients would soon start coming to engage me for my services and there would be a long cue of clients waiting in my office....

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5 Things to know about Home Construction Loans

Do you dream of owning a piece of land in a scenic part of the countryside? A land over which you can build your dream house to use as you want? You are not alone in dreaming this dream. Recognising...

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What is a child plan? How it works?

A child plan is a tailor-made investment cum insurance option to meet the financial needs of a child. In a child plan, there are two components– insurance and investment. The insurance component is designed to protect the child from unfortunate...

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How to Maximise your Wealth by Investing in Mutual Funds

“It’s more important to grow your money than cut your expenses. It is more important to grow your spirits than cut your dreams.” –Robert Kiyosaki, author of Rich Dad Poor Dad Ever wondered how some people get rich faster than...

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Where there’s a will, there’s a way to write it yourself!

It is often jokingly said that ‘Where there’s a will, there are relatives’. Jokes apart, it is important to make a will for the very reason that there are relatives, some of whom may be waiting to receive a part...

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Claiming Benefits of GST paid on Business expenses (Simplified)

The concept of GST is similar to that of VAT and Service Tax, which was applicable earlier. The only difference between the two is the mechanism of taking Input Tax Credit. In this article we will tell you how you...

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