Simplifying Tax for C.A's and Taxpayers

When does your Provident fund become inoperative?

When does your Provident fund become inoperative?

Two years ago, Sameer got an exciting opportunity and he switched job. While joining the new company, he was asked to share his previous PF account number so that same could be transferred or else open a new PF account with new employer. Sameer envisaged some funds requirement near the year end, so he decided to use the existing PF and open a new PF account. Few months later, he realized he forgot to withdraw previous PF balance. He later came to know that the account has become inoperative! Read More

Learn About Carbon Credits

Learn About Carbon Credits

Income from transfer of carbon credit shall be taxable at concessional rate of 10% plus applicable surcharge and cess.” (Budget 2017-18)

Though I have read this term “carbon credit” many times, but since it was never a subject of significance to me, I never attempted to understand them. But while reading the proposed tax amendments in Budget 2017-18, proposal to tax income from carbon credits at 10% as mentioned above, ignited in me a curiosity to learn about them. Yes, it is time to unveil them.

I read many articles and felt like sharing my understanding with my readers. Read More

Provident Fund Amnesty Scheme

Provident Fund Amnesty Scheme

As the Oprah Winfrey quotes, “Cheers to a new year and another chance for us to get it right”, here comes the NEW YEAR BONANZA-another amnesty scheme and this time by EPFO.

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