Articles by Rashmi

NPCI Allows NRIs to Access UPI with International Mobile Numbers

Rashmi 29 April 2023 at 08:41

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

Rashmi 28 April 2023 at 08:54

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

Rashmi 27 April 2023 at 08:50

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

Rashmi 26 April 2023 at 08:47

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

Rashmi 24 April 2023 at 14:10

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

Rashmi 22 April 2023 at 08:57

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.

Maximizing Your Take-Home Pay: Tips for Tax-Efficient Salary Restructuring in India

Rashmi 21 April 2023 at 08:52

As a salaried employee in India, you're likely to be paying a significant amount of your income in taxes. However, by restructuring your salary package in a tax-efficient way, you can keep more of your hard-earned money and pay less in taxes. Here are some tips on how to do it:

Benefits of Filing ITR on time for FY 2022-23

Rashmi 20 April 2023 at 08:48

Filing your income tax return on time comes with various benefits. It not only helps you to avoid penalties and interest charges but also helps to build your financial history, improve your credit score, and increase your chances of obtaining loans and credit cards.

What Borrowers Need to Know About RBI's Proposed Regulations on Penalties for Loans

Rashmi 18 April 2023 at 08:49

The Reserve Bank of India (RBI) has proposed new regulations on how lenders can charge penalties on loans. Many lenders currently charge extra interest, known as penal interest, when a borrower fails to make their loan repayments on time or violates the loan terms