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Category: General Awareness

Goods and Services Tax (GST) in India

Goods and Services Tax (GST) in India

Manufacturer/Service Providers/Trader whose annual turnover is below Rs. 20 Lakh* need not pay any GST and need not register. Those with annual turnover upto Rs. 75 Lakh# can opt for composition scheme in which case the tax rates will be as follows: GST Rate of Composition Traders – 1% Manufacturers – 2% Restaurants – 5% In service sector, Composition Scheme for manufacturers of tobacco and manufactured tobacco substitutes, pan-masala & ice-cream and other edible ice, whether or not containing cocoa….

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Income Tax Slab Rate & Deductions – AY 2018 -19 (FY 2017-18)

Income Tax Slab Rate & Deductions – AY 2018 -19 (FY 2017-18)

Individual resident aged below 60 years (i.e. born on or after 1st April 1957) Income Slabs Tax Rates i. Where the taxable income does not exceed Rs. 2,50,000/-. NIL ii. Where the taxable income exceeds Rs. 2,50,000/- but does not exceed Rs. 5,00,000/-. 10% of amount by which the taxable income exceeds Rs. 2,50,000/-. Less : Tax Credit u/s 87A – 10% of taxable income upto a maximum of Rs. 5000/-. iii. Where the taxable income exceeds Rs. 5,00,000/- but…

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Income Tax Slab Rate & Deductions – AY 2017 -18 (FY 2016-17)

Income Tax Slab Rate & Deductions – AY 2017 -18 (FY 2016-17)

Income Tax Rate Chart / Income Tax Slabs as Applicable for Assessment Year 2017-18 / Financial Year 2016-17 for Individual, HUF, AOP, BOI, Partnership Firms, LLP and Companies. Rates for deduction of income-tax at source from “Salaries”, computation of “advance tax” and charging of income-tax in special cases during the financial year 2016-2017. The rates for deduction of income-tax at source from “Salaries” during the financial year 2016-2017 and also for computation of “advance tax” payable during the said year…

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Fire Safety & Prevention

Fire Safety & Prevention

GENERAL FIRE SAFETY AND PROTECTION TIPS Prepare a Fire Emergency Escape plan and ensure that all your family members know what to do in the event of a fire. Select a safe meeting place outside the house for your family members to assemble in case of an emergency. Practice alerting other members in your family yelling “Fire, Fire, Fire!: or by whistling etc. Always sleep with the bedroom doors closed. This will keep deadly heat and smoke out of bedroom,…

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Understand the PAN (Permanent Account Number)

Understand the PAN (Permanent Account Number)

PAN is a 10 digit alpha numeric number, where the first 5 characters are letters, the next 4 numbers and the last one a letter again. These 10 characters can bedivided in five parts as can be seen below. The meaning of each number has been explained further. First three characters are alphabetic series running from AAA to ZZZ Fourth character of PAN represents the status of the PAN holder. C — Company P — Person H — HUF(Hindu Undivided…

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