TCS stands for Tax Collected at Source. It's a type of income tax collected by the seller of selected goods and services from the buyer. In case of foreign remittance transactions, tax is collected from you when you send money abroad.In simple terms, when you send money overseas, your bank may keep some for taxes, depending on what you’re paying for.Starting October 1, … [Read more...] about Understanding TCS on Foreign Remittance in India: A Complete Guide
When is the last date to file an income tax audit report
As per our tax laws, certain taxpayers are mandatorily requried to conduct audit under section 44AB of the Income tax act, 1961. These are in general referred to as tax audit. If you are liable to get your accounts audited under section 44AB, then you need to contact a practicing chartered accountant.In this article, we will be discusing the last date of submitting tax … [Read more...] about When is the last date to file an income tax audit report
How to avoid phishing emails pretending to be tax department
Phishing is the process of attempting to acquire sensitive information such as financial details, usernames, passwords, OTPs and bank account details by masquerading as a trustworthy entity in an electronic communication. In general, Phishing is carried out by e-mail or instant messaging.Phishing emails in the name of the income tax department is not new nowadays. In many … [Read more...] about How to avoid phishing emails pretending to be tax department
What is the concept of Mr market?
Economist and known as father of value investing, Benjamin Graham (1894-1976) has referred to a imaginary person as Mr. Market while teaching his philosophy of investing in his classic book “The Intelligent Investor”.He suggested to look at the market as a business partner who offer buy you out or sell you his interest in a company. He referred to this imaginary person as … [Read more...] about What is the concept of Mr market?
ESOP: How Employee Stock Ownership Plan Works, Its Benefits And Taxation
Employee stock ownership plan (ESOP) is an employee benefit plan in which the employer offers shares of the company at a very low cost in order to encourage employees participation in the ownership of the company.The main purpose of employee stock ownership plan is to increase shareholders value by expanding employee ownership of the company.Many listed companies in … [Read more...] about ESOP: How Employee Stock Ownership Plan Works, Its Benefits And Taxation