Articles by Rashmi

A Comprehensive Guide to Claiming HRA Tax Exemption: Essential Aspects of Your Rent Agreement

Posted by Rashmi 07 June 2023 4718 Views

Salaried individuals can avail tax exemption on house rent allowance (HRA) if they live in a rented house, pay rent, and possess the necessary valid documents. However, many people are unaware that their rent agreements should include specific clauses to ensure that their HRA tax exemption, claimed during income tax return (ITR) filing, is not rejected by the income tax department.

New HUID Requirements for Gold Jewellery: What Consumers Need to Know

Posted by Rashmi 31 May 2023 67233 Views

HUID is a six-digit alphanumeric code consisting of numbers and letters that is unique to each unit of jewellery. The number is stamped on the jewellery piece manually at the Assaying & Hallmarking Centre (AHC).

NFRA Order Reveals Major Lapses in Audit Conducted by CA Rakesh Puri

Posted by Rashmi 31 May 2023 4551 Views

The National Financial Reporting Authority (NFRA) recently issued an order highlighting significant deficiencies in the audit conducted by CA Rakesh Puri, who served as the Engagement Partner (EP) for the statutory audit of Sun and Shine Worldwide Limited (SSWL).

CBIC's Nationwide Sweep Exposes 10,000 Alarming Cases of Fake GST Registrations

Posted by Rashmi 27 May 2023 9744 Views

The Central Board of Indirect Taxes and Customs (CBIC) has launched a special all-India drive to combat cases of fake Goods and Services Tax (GST) registration....

CBDT launches Tax Calculator for FY 2023-24

Posted by Rashmi 25 May 2023 4153 Views

The Central Board of Direct Taxes (CBDT) has introduced a new Income tax calculator for the financial year 2023-24. This calculator is designed to be user-friendly and helps individuals and businesses calculate their tax obligations more easily.

Comprehensive Guide to Gold Purchases, Possession Limits and Taxation in India

Posted by Rashmi 24 May 2023 43141 Views

Considering the cash transaction limits under income tax laws, transactions in cash above Rs 2 lakh in a single day are not permitted. Section 269ST of the Income Tax Act, 1961, prohibits cash transactions exceeding Rs 2 lakh in a single day or in aggregate from a person.

RBI Withdraws Rs 2,000 Banknotes - FAQs and Guidelines

Posted by Rashmi 20 May 2023 7657 Views

The Reserve Bank of India has announced that it will no longer circulate the Rs 2,000 currency notes.

15 Tips for Millennials to Navigate Finance, Investing and Retirement Planning in India

Posted by Rashmi 15 May 2023 2141 Views

Millennials are the generation born between the early 1980s and early 2000s. They are the largest generation in India, and they are facing a number of financial challenges. The cost of living is rising, student loan debt is high, and the job market is competitive.

All-India Drive to Detect Fake GSTINs: Ensuring Compliance to Safeguard Government Revenue

Posted by Rashmi 12 May 2023 11005 Views

To combat the presence of suspicious and fake GSTINs (Goods and Services Tax Identification Numbers) in the GST eco-system, a Special All-India Drive has been launched by both Central and State Tax administrations.

Transforming GST Compliance: Advanced AI and Data Analytics Power Automated Return Scrutiny

Posted by Rashmi 11 May 2023 4958 Views

The Goods and Services Tax (GST) department is set to implement an advanced artificial intelligence and data analytics system to scrutinize GST returns and monitor any discrepancies.