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Fifth day of the IT raid on JKJ Jewellers: 114 kg of gold purchased with illicit funds; found jewellery valued at Rs 45 crore

Jaipur: On Saturday, the Income Tax raid on the JKJ Jewellers Group in the capital city of Rajasthan is on its sixth day. Startling statistics keep coming to light during this operation. The Income Tax Department has finished its operations at four locations in Kolkata, while it is currently conducting raids at 17 separate locations in Delhi and Jaipur. Shocking disclosures regarding cash, gold,…

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#business #finance #income tax #india #news #tax #taxes

Zipf's Law: The Hidden Order of Language and Distribution

Have you ever wondered why certain words appear frequently while others remain rare in written or spoken language? Enter Zipf’s Law—a fascinating principle that unveils the underlying patterns of word usage and distribution in human communication. In this blog post, we’ll explore what Zipf’s Law is, how it applies to language, and what implications it holds for understanding the structure of…

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#communicationpatterns #computationallinguistics #languageanalysis #linguistics #naturallanguageprocessing #power-lawdistribution #wordfrequency #Zipf&039;sLaw

Parkinson's Law: Understanding Work Efficiency and Time Management

Have you ever felt that tasks expand to fill the time allotted to them? Or that work seems to multiply and stretch, regardless of its complexity? Welcome to the intriguing world of Parkinson’s Law—a concept that sheds light on work efficiency, time management, and the psychology behind productivity. What is Parkinson’s Law? Parkinson’s Law, coined by British naval historian and author Cyril…

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#deadline setting #Parkinson&039;s Law #productivity #productivity tips #task breakdown #task prioritization #time blocking #time management #work efficiency

Understanding the 80/20 Rule: Maximizing Results with Minimal Effort

Have you heard of the 80/20 rule, also known as the Pareto Principle? This powerful concept can transform the way you approach productivity, time management, and decision-making. In this guide, we’ll explore what the 80/20 rule is, how it applies to various aspects of life, and how you can leverage it to achieve exceptional results with minimal effort. What is the 80/20 Rule? The 80/20 rule,…

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Financial Statement Analysis: A Comprehensive Guide

Financial statement analysis is a fundamental tool for understanding the financial health and performance of a business. Whether you’re an investor, business owner, or financial professional, the ability to interpret financial statements is crucial for making informed decisions. In this guide, we’ll delve into the key aspects of financial statement analysis and how you can leverage this knowledge…

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The Guide to Financial Technology (Fintech)

In today’s rapidly evolving digital landscape, Financial Technology, or Fintech, is revolutionizing the way we manage and interact with money. From mobile banking to cryptocurrency, Fintech encompasses a wide array of innovative solutions that are reshaping traditional financial services. If you’re curious about Fintech and its implications for your financial future, you’ve come to the right…

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#banking #blockchain #Cryptocurrencies #DigitalPayments #FinancialInclusion #FinancialServices #FinancialTechnology #fintech #FutureofFinance #innovation #Insurtech #investing #RoboAdvisors #technology

Income Tax department extended the last date for filing this special form

The Central Board of Direct Taxes (CBDT) has extended the deadline for filing Form 10A/Form 10AB under the Income Tax Act 1961 to June 30, 2024. This extension is part of ongoing efforts by the CBDT to ease challenges faced by taxpayers. Previously, this deadline had been extended multiple times, with the most recent extension set at September 30, 2023. In a recent circular issued by the CBDT,…

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#finance #personal-finance #tax #tax professionals #tax-planning #taxes

Fortis Healthcare Faces Income Tax Assessment Order: What Investors Need to Know

Fortis Healthcare Ltd, a prominent player in the healthcare sector, recently disclosed that its subsidiary, Fortis Hospitals Ltd, has received an income tax assessment order amounting to ₹89.53 crore, inclusive of interest charges amounting to ₹9.54 crore. In a regulatory filing with the stock exchange, Fortis Healthcare stated, “This is to inform you that Fortis Hospitals Limited, a material…

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#ARPOB #EBITDA #fiscal year #Fortis Healthcare #Fortis Hospitals Ltd #income tax assessment order #investment decisions #investor update.#market update #net profit #revenue growth

How to get Udyam Registration

Deciphering the Classification of Enterprises Enterprises play a pivotal role in the economic landscape, driving growth, innovation, and employment opportunities. Understanding how enterprises are classified based on their size and scale is fundamental for availing various benefits and support mechanisms. Here’s a breakdown of the criteria for classifying enterprises as micro, small, or…

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#micro enterprises #MSME advantages #MSME classification #MSME criteria #MSME registration #Udyam documents.#Udyam process #Udyam registration process

A Step-by-Step Guide for Responding to Income Tax Notices :Tax Compliance

As a responsible taxpayer, receiving notices from the Income Tax Department can be an intimidating experience. However, responding to these notices promptly and accurately is crucial to ensure compliance with tax regulations and avoid any potential penalties or legal consequences. In this comprehensive guide, we’ll walk you through the step-by-step process of replying to notices received from the…

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#e-Filing Account #Income Tax Assistance #Income Tax Department #Income Tax Notices #Tax Compliance #Tax Compliance Guide #Tax Notice Assistance #tax regulations #Taxpayer Response #Taxpayer Support

TDS Rate Chart for FY 2024-25 (AY 2025-26)

TDS Rate Chart for FY 2024-25 (AY 2025-26) SectionNature of PaymentThresholdTDS Rate (with PAN)TDS Rate (without PAN)194CPayments to Contractors and Subcontractors, AdvertisingSingle payment > Rs. 30,000 or Aggregate > Rs. 1,00,0001% (Individual/HUF) 2% (Others)5% (Individual/HUF) 20% (Others)194-I (a)Rent on Land, Building, Furniture & FittingsRs. 2,40,000 per annum10%20%194-I (b)Rent on Plant…

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#assessment year #financial year #income tax #Tax Compliance #tax deduction #Tax Liability #Tax Planning #Tax Rates #tax regulations #taxable income #taxation #TDS #TDS Calculator

Top Essential Terms In Taxation

Taxation is an integral part of our financial lives, influencing everything from business decisions to personal finances. However, navigating the complex world of taxes can be daunting without a solid understanding of key terminology. In this comprehensive guide, we’ll demystify taxation by exploring the top essential terms you need to know. 1. Tax: A compulsory financial charge imposed by the…

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#capital gains tax #estate tax #excise tax #income tax #property tax #sales tax #Tax Audit #tax basics #tax credit #Tax evasion #Tax Liability #Tax Planning #tax refund #tax terminology #taxation #value-added tax (VAT)

Upholding Legal Rights: Gujarat High Court's Stance on Income Tax Department's Seizure

In a recent development at the Gujarat High Court, a division bench comprising Justices Bhargav Karia and Niral Mehta has taken a firm stance regarding the seizure of “non-incriminating” data from a lawyer’s office by the Income Tax department. Refusing to accept the department’s undertaking on sealing the data, the bench has decided to delve into the matter on its merits. The petition before…

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#court hearing #data seizure #fundamental rights #Gujarat High Court #Income Tax Department #judicial process #lawyer&039;s office raid #legal case #legal challenges #legal counsel #legal integrity #legal justice #legal principles #Legal Proceedings #legal resolution #legal rights #legal safeguards #legal scrutiny #Natural Justice

The Delhi High Court has shed light on the extended review period for Income-Tax (I-T) assessments

In a landmark ruling, the Delhi High Court has shed light on the extended review period for Income-Tax (I-T) assessments, offering clarity to taxpayers and practitioners alike. Justices Rajiv Shakdher and Girish Kathpalia emphasized that the 10-year review period applies only in cases where the estimated undisclosed income exceeds Rs 50 lakh. They clarified that in “normal cases,” no notice…

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#Assessing Officer #Delhi High Court #Finance Act 2022 #High Court petition #income concealment #Legal Proceedings #Legal Ruling #objection filing #reassessment process #Section 148 #tax evasion cases #tax experts #tax law #Taxpayer Rights

Top Essential Accounting Terms You Need to Know : the Language of Business

In the world of business, understanding accounting is paramount. Whether you’re a seasoned entrepreneur, a budding startup founder, or simply an individual looking to manage personal finances more effectively, grasping key accounting terms is essential. These terms serve as the language of business, providing insights into financial health, performance, and strategy. Here, we’ll unlock the top 20…

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Deductions which can be claimed under the New Income Tax Regime

Are you navigating the complexities of tax planning under the new income tax regime? Are you looking to maximize your savings by leveraging all available deductions? Look no further! In this definitive guide, we’ll walk you through the myriad deductions offered under the Income Tax Act of 1961 in the new regime, empowering you to make informed financial decisions and optimize your tax…

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#Financial Planning #Income Tax Act 1961 #Section 80D #Section 80E #Section 80G #Standard Deduction #Tax Benefits #tax deductions #Tax Planning #tax savings #Tax Savings Investments #Tax Savings Schemes

The Goods and Services Tax (GST) Changing Environment: New Advancements and Consequences

The Goods and Services Tax (GST) changes yearly, bringing to light unexpected rulings that affect taxpayers and reshape the structure of the tax system. This piece explores the latest happenings in the GST domain, illuminating noteworthy modifications, court rulings, and the changing function of oversight organisations. Recent Developments:The GST landscape has witnessed notable transformations,…

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