Articles by Rashmi

Uncovering India's Hidden Billions: Your Guide to Reclaiming Unclaimed Deposits

Posted by Rashmi 10 May 2023 2295 Views

India has a hidden wealth of unclaimed deposits worth billions of rupees lying dormant in banks and financial institutions. Many people, due to various reasons, forget about their old bank accounts, investments, shares, and dividends, which ultimately become unclaimed deposits after 10 years of inactivity.

Understanding the implications of EPFO's new ruling on higher EPS pension contributions

Posted by Rashmi 06 May 2023 3978 Views

The EPFO has replaced the old rule for higher EPS pension contribution, which required an additional 1.16% of salary above the wage ceiling, with a new methodology.

Top 10 Financial Changes Effective from May 2023

Posted by Rashmi 04 May 2023 6511 Views

Here are ten significant financial and administrative changes that will come into effect in May 23

Delayed Possession of Your Dream Home? Here's How to Seek Relief in India

Posted by Rashmi 03 May 2023 4251 Views

If you are a homebuyer in India and your house is stuck in a delayed real estate project, here are some actions you can take

NPCI Allows NRIs to Access UPI with International Mobile Numbers

Posted by Rashmi 29 April 2023 4364 Views

Non-resident Indians (NRIs) will now be able to access Unified Payments Interface (UPI) using their international mobile numbers.

New LRS Regulations Cause Concern for Wealthy Indians Parking Funds Abroad

Posted by Rashmi 28 April 2023 4008 Views

The Liberalised Remittance Scheme (LRS) regulation in India has been revised, making it difficult for wealthy Indians to accumulate wealth in offshore bank accounts. Under the new rule, if an individual has legitimate money outside India in the form of foreign exchange, they must either invest it or use it within 180 days of realisation.

SC Limits Tax Authorities' Power to Reopen Completed Assessments Without Incriminating Material

Posted by Rashmi 27 April 2023 2560 Views

The Supreme Court has ruled that the income tax (I-T) department cannot reopen completed assessments under Section 153A of the I-T Act, unless "incriminating material" is found during search and seizure operations.

Mandatory Certificate from Income Tax Portal for Section 80G Tax Deduction

Posted by Rashmi 26 April 2023 19338 Views

When you donate money to a charity or NGO, you can get a tax deduction under Section 80G of the Income-tax Act, 1961. This means that you can reduce the amount of tax you have to pay based on the amount you donated.

Lessons for auditors on professional conduct

Posted by Rashmi 25 April 2023 3183 Views

The National Financial Reporting Authority (NFRA) in India has imposed a penalty of ₹300,000 on the statutory auditor of now-de-listed company SRS Ltd, along with a three-year ban on taking up statutory or internal audits of any company, for alleged professional misconduct and lapses in the FY18 audit of the company.

Akshaya Tritiya 2023: What to Keep in Mind Before Investing in Gold

Posted by Rashmi 22 April 2023 3560 Views

Gold prices and their relationship with the US dollar or the dollar index are strongly correlated. As the dollar rises, gold prices tend to fall, while when the dollar weakens, the price of gold tends to increase.