KarSaathi

  CLICK FOR DETAILED BLOG: What is a credit score? The creditworthiness of a consumer is indicated by a number between 300 and 850 called a credit score. Credit score takes into account a person’s debt amount, duration of credit history, loan kinds, and payback history. What is the fastest way to build your credit? You cannot effectively establish credit by merely adding tradelines to your credit history. You’ll need to control them carefully. What you must do is as follows. Pay promptly. Pay all bills on time. The single most crucial step in establishing credit is this. jumble up your accounts. To build a healthy credit mix, strive to keep at least one revolving account and one instalment account open. Keep an eye on your credit usage. Revolving account balances should not exceed 30% of your credit limit. Better is lower! Your credit score is heavily influenced by your credit utilisation. Avert challenging questions. A hard inquiry will be made on your credit repo...

  GST Registration Compulsory Registration: Under certain cases , the dealer must take  Compulsory Registration  under GST irrespective of the turnover. For eg: Inter-state sales of taxable goods, E-commerce operator, E-commerce seller etc.   Voluntary Registration: A business that does not need to apply for compulsory registration can apply for registration on a voluntary basis. It is called Voluntary Registration under GST.   Registration under Composition Scheme: If the  aggregate turnover  exceeds the prescribed threshold limit of Rs.40 lacs (Rs.20 lacs for special category states) for goods or Rs.20 lacs (Rs.10 lacs for special category states) but is less than Rs.1.5 Cr ( aggregate turnover less than Rs.75 lacs for special category states), the dealer can register under Composition Scheme.         In case of services, if the aggregate turnover exceeds Rs.20 lacs (Rs.10 lacs for special category states) but...

    WHAT IS GST GST is known as the Goods and Services Tax. It is an indirect tax that has replaced many indirect taxes in India such as excise duty, VAT, services tax, etc. The Goods and Service Tax Act was passed in Parliament in 2017 and came into effect on 1st July 2017. GST Full Form  - G oods & S ervice T ax Government Dwara Kisi Bhi Parkar ke Maal Ya Kisi Bhi Parkar ki Service Par Lagaya  Gaya Tax Goods & Service Tax (GST) kehlata hai. Multi-stage taxation A product goes through multiple stages before it is consumed by the end-user. These stages are similar to those of a supply chain. For instance, the supply chain of a product involves the following stages: Purchase of raw materials Manufacturing of a product, Selling the product to a wholesaler and then to a retailer Sale to the end consumer GST is levied on each stage mentioned above, which makes it a multi-stage tax. Destination-based tax GST is levied at the point of consumption of goods or servic...

  What is wealth creation? Wealth creation refers to building wealth through a variety of methods using financial products. When you invest in financial products for a long period, you get back higher returns. Hence, it is an essential part of your financial journey to achieve all your long-term financial goals like your dream house, your child's education, and much more.  One cannot create wealth by just earning more money. You have to invest your savings to create a parallel stream of income. This process of investing your saved money to grow your wealth by choosing investments that align with your financial goals is called wealth creation.   For sufficient wealth creation, apart from choosing the right investment, you also have to give your investments sufficient time to grow. You need to maximize the benefit of compounding by investing as early in life as possible. Early starters have the opportunity to stay invested longer, which makes it easier for them to reac...

 A GST registration number is mandatory for any entity seeking to undertake the supply of goods and services across states while maintaining an annual aggregate turnover that exceeds INR 40 lakhs/20 Lakhs as the case may be.   Documents Required For G.S.T Registration   FOR INDIVIDUAL, COMPANY & PARTNERSHIP FIRM :   Aadhar Card of Applicant Pan Card of Applicant Passport Size Photo of Applicant Bank Account Front Page of Applicant Valid Mobile Number of Applicant Proof of Business Address (Electricity Bill etc) Rent Agreement (if shop on Rent) Firm Name PARTNERSHIP DEED DIRECTOR PAN MEMORENDUM OF CO.  

  GST के तहत E-INVOICING क्या है ? E-INVOICING या 'इलेक्ट्रॉनिक चालान' एक ऐसी प्रणाली है जिसमें सामान्य GST PORTALपर आगे के उपयोग के लिए B 2 B चालान को GSTN द्वारा इलेक्ट्रॉनिक रूप से प्रमाणित किया जाता है। इलेक्ट्रॉनिक चालान प्रणाली के तहत, जीएसटी नेटवर्क (GSTN) द्वारा प्रबंधित चालान पंजीकरण पोर्टल (IRP) द्वारा प्रत्येक चालान के खिलाफ एक पहचान संख्या जारी की जाएगी। राष्ट्रीय सूचना विज्ञान केंद्र ने e invoice1.gst.gov.in में पहला IRP लॉन्च किया। सभी चालान जानकारी इस पोर्टल से GST PORTALऔर E- WAY BILLपोर्टल दोनों को वास्तविक समय में स्थानांतरित कर दी जाएगी। इसलिए, यह GSTR -1 रिटर्न दाखिल करते समय मैनुअल डेटा प्रविष्टि की आवश्यकता को समाप्त कर देगा और ई-वे बिलों के पार्ट-ए का उत्पादन करेगा, क्योंकि जानकारी सीधे IRP द्वारा GST PORTALको पारित की जाती है। E-INVOICING किसके लिए लागू होता है ? CBIC ने अधिसूचना संख्या 5/2021 के माध्यम से 50 करोड़ रुपये से अधिक के कारोबार वाले व्यवसायों के लिए 1 अप्रैल 2021 से E-INVOICING लागू करने के लिए अधिसूचित किया।   25th February 2022:“GST e-inv...

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            FOR MORE DETAIL VISIT MY WEBSITE: Finance Act 2022 inserted a new section 194R in the Income-tax Act, 1961 (hereinafter referred to as "the Act") with effect from " July 2022.   The new section mandates a person, who is responsible for providing any benefit or prerequisite to a resident, to deduct tax at source @ IO% of the value or aggregate of the value of such benefit or perquisite, before providing such benefit or perquisite. The benefit or perquisite may or may not be convertible into money but should arise either from carrying out of business or from exercising a profession, by such resident.   This deduction is not required to be made if the value or aggregate of the value of the benefit or perquisite provided or likely to be provided to the resident during the financial year does not exceed twenty thousand rupees.   The responsibility of tax deduction also does not apply to a person, being an Individual/Hindu undivided fa...

  CONTACT FOR EXPERT ADVICE ON TAXATION MATTERS. http://www.karsaathi.in/ Contact: 7838639095 (WhatsApps No.) WITHDRAWAL OF TAX EXEMPTION U/S 80EEA FROM 01/04/2022  Under Section 80EEA, first-time homebuyers in India enjoy additional deductions on income tax. However, the benefits of 80EEA are applicable only if they buy an affordable property with the help of home loans.  80EEA of the income tax act enables home buyers to make up to Rs 1.50 lakh of their income in a year tax-free. Offered over and above the benefits enjoyed by other categories of buyers, the benefits to first-time home buyers in India are offered under Section 80EE and Section 80EEA.  The 80EEA deduction is over and above the Rs 2 lakh deduction limit allowed under Section 24 (b). However, the 80EEA deduction is linked to the cost of the house and is extended on the purchase of housing units worth up to Rs 45 lakhs. The affordability of the house is also decided by the ...

IMPACT OF R.B.I INTEREST RATE HIKE The Reserve Bank of India (RBI) hiked the repo rate by 50 basis points in the June meeting. The Repo rate is the key rate at which the RBI lends short-term funds to commercial banks. The total repo rate hiked by R.B.I in this F.Y is 90 basis points till now. Persistent inflation pressures are becoming more acute, particularly on food, Das said, adding that there is a risk if prices stay at this level for "too long" and expectations become unanchored. "Inflation must be tamed to keep the Indian economy resolute on its course to sustained and inclusive growth," he said. Increases in fuel and food prices, exacerbated by the war in Ukraine and sustained pandemic-related supply chain disruptions, have been above the RBI comfort zone of 2-6 percent for three months in a row. Headline inflation in March rose to a 17-month high of 6.95 percent and it may be above the target band in April too.  This may be worrisome for exis...