Skip to main content

Posts

Showing posts from September, 2019

TOP 10 MISTAKES TO AVOID VISA INTERVIEW - RESOLUTION

Successful interview in life is not just important, but also have a direct impact on your career. Common people do some mistakes when they go for a visa interview.  Table of content So here we try to find out the common mistakes and find out who to recover those mistakes by cracking visa interview , we must first learn about common mistakes that as a student we all make and reduce chances of quality higher education. So here is the list of common mistakes students make during visa interview and the resolution of that.

ULTIMATE GUIDE TO SET UP FREE CUSTOM DOMAIN ON BLOGSPOT BLOG

Hi friends in this article we will discuss free domain setup for the Blogspot blog . Friends, we are talking here only about the Blogspot blog as we know paid domain purchase is not possible for everyone. So here you can also get an option for registering a free Domain beside your blog name. When we create a blog on blog address looks like "myblog.blogspoot.com" really big name to remember for your followers or your blog's new visitors but if you purchase a domain or get free domain the blog address looks like www.myblog.com or www.myblog.tk. Which is really good to look and to remember. Usually, Blogspot is often overrun by spammers. When you present your domain in social media, it is better to have a domain name. When talking about credibility most websites don’t like Blogspot links to backlinks. Now we will discuss the process of setting up a free custom domain for Blogspot blog  - step by step - Step 1 Click Here or go to freenom.

TAX AUDIT UNDER SECTION 44AB, 44AA, 44AD, 44AE, 44ADA: All You Need To Know

Maybe you are a you-tuber or blogger earn money from you-tube or blog or you have any kind of business or professions like supply of goods or service or treading or you may distributor or agent of some service or product, or you have some profession of education or low or insurance agent or doctor for everyone this is very important post that to know that your income is auditable before tax filling or not. That will you required o get Tax Audit and Maintain up-to-date books of account or not. So friends, if you are engaged in any kind of business or profession, read this post carefully because tax audit is and the role it plays in determining your tax liability. What is TAX AUDIT : A tax audit is a formal examination conducted by the Income Tax Department to verify information or uncover fraud and inaccurate tax returns. The Income Tax Department selects tax returns to examine both randomly. If the audit is selected randomly, the Income Tax Department will simply take a c

PRESUMPTIVE INCOME UNDER SECTION 44AD, 44AE, 44ADA

Hi, viewers in this article we will discuss about PRESUMPTIVE INCOME. For Small business, Transport Vehicle owners and Professional Govt. is offered Presumptive Income scheme in which no tax audit require to submit Income Tax Return. What is Presumptive Income-  Presumptive Income means Income is calculated Under the assumption basis that you have to declare a certain percentage of your turnover as your Net Income, in this basis Tax Audit and Maintenance of Books will not required like section 44A . There are three Section  In Which Presumptive Income is Calculated - 1.      Section 44AD 2.      Section 44AE 3.      Section 44ADA 1.Section 44AD:- If your gross turnover is less then 50 lakhs and ready to declare Net Income 6% of turn over is case banking receipt and 8% of turnover in cash of cash or non-banking receipt then you can submit Income Tax Return Under Section 44AD. Condition Of Section 44AD- Maximum Turnover should not exceed 2

A King’s Painting – Moral Story

Once upon a time, there was a Kingdom. The king there only had one leg and one eye, but he was very intelligent and kind. Everyone in his kingdom lived a happy and a healthy life because of their king. One day the king was walking through the palace hallway and saw the portraits of his ancestors. He thought that one day his children will walk in the same hallway and remember all the ancestors through these portraits.   You may also like to read- Don't chase happiness, Just enjoy your life But, the king did not have his portrait painted. Due to his physical disabilities, he wasn’t sure how his painting would turn out. So he invited many famous painters from his and other kingdoms to the court. The king then announced that he wants a beautiful portrait made of himself to be placed in the palace. Any painter who can carry out this should come forward. He will be rewarded based on how the painting turns up.   You may also like to read- Wolf and the boy   All the pain

ITR E-VERIFICATION- 5 WAY TO VERIFY YOUR INCOME TAX RETURN

After submitting Income Tax Return it is mandatory for every individual/firm/HUF to verify their Tax Return copy from Income Tax Department. If anyone will not verify there ITR then further process cannot be started from Income Tax Department of India. ITR EVERIFICATION- 5 WAY TO VARIFY YOUR INCOME TAX RETURN As off now there is 5 way to verify your income tax return-   ITR E VERIFICATION- 5 WAY TO VERIFY YOUR INCOME TAX RETURN 1.      Using Adhar OTP 2.      E-verify through net banking 3.      Pre-Validate Bank Account 4.      Pre-Validate Demat Account 5.      Manual Verification   Using Adhar OTP For using Adhar OTP any one mast have to verify there adhar no with Income Tax Portal, and also attach mobile no with there adhar card. Then only any one can verify there return with Adhar OTP. E-verify through net banking For Using this process you should have a net baking facility with any bank.  After Submit ITR log on to net banking portal of

List of Exempted Income Under Section 10 of Indian Income Tax Act

Section of the Income Tax Act, 1961 deals with exempted incomes which is a long list as below : 1. Agriculture Income [Section 10(1)] 2. Amount received out of family income, Hindu Undivided Family (H.U.F.) [Section 10(2)] 3. Share of profit form a partnership firm, [Section 10(2A)] 4. Interest paid to Non-Resident [Section 10(4)(i)] 5. Interest to Non-Resident on Non-Resident (External) Account [Section 10(4) (ii)] 6. Interest paid to a person of Indian Origin and who is Non-Resident [Section 10(4 B)] 7. Leave Travel Concession or Assistance [Section 10(5)] 8. Remuneration or Salary received by an individual who is not a citizen of India [Section 10(6)] a. Remuneration [U/s 10(6)(ii)] b. Remuneration received as an employee of foreign enterprise [U/s 10(6)(vi)] c. Employment on a foreign ship [U/s 10(6)(viii)] d. Remuneration received by an employee of foreign government [U/s 10(6)(xi)] List of Exampted Income U/S 10

Tax Deduction Under Section 80TTB - Senior Citizen Benifit on FD

Section 80TTB is the deduction on ANY KIND OF FIXED DEPOSIT Or DEPOSIT INTEREST from Bank Savings Account or Post Office Savings. This section introduced in budget 2018. The Maximum deduction under this section available up to Rs. 50,000/- applied for INDIVIDUAL Senior Citizen or Super Senior Citizen only. The maximum limit should be claimed under this section is Rs. 50,000/- Section 80TTB Explanation- Senior Citizen means Individuals aged from 60 years plus to Below 80 years. And Super Senior Citizen means Individuals aged from 80 years and above. Conditions of Deduction Under Section 80TTB   (1) Where the gross total income of an assessee, being a senior citizen includes any income by way of interest on deposits with—   ( a ) a banking company to which the Banking Regulation Act, 1949 (10 of 1949), applies (including any bank or banking institution referred to in section 51 of that Act);   ( b ) a co-operative society engaged in carrying on the business of ba

Which Source of Income Dose Not Comes Under Total Taxable Income?

Though every income is part of your total income but when the question comes about total taxable income, yes every income is not a part of taxable income. Example of Income not comes in taxeble income:- a. Agriculture Income:- The income that comes from cultivation or agriculture dose not a part of taxable income. [Section 10(1)] b. Allowance or Perquisites :- If you are a salaried persion the then some portion of your allowance or perquisites are non taxeble u/s 10. (example: House Rent Allowance u/s 10(13B)) and also the portion of standard deduction is not comes in total taxeble income. Total list of Exempted  Income of Section 10 of Income Tax act are listed below in the Table c. LIC OR OTHER COMISSION INCOME:- You can Claim maximum 50 % of your income as expences so that 50% or the portion you claim can be a non taxeble income. d. LIC Mediclaim or Provident Fund or Children Education :- The portion of your income upto Rs. 1,50,000/- You can show as non tax