TDS/ TCS provision under GST: See all Details

TDS/ TCS provision under GST, Central Government vide notification No.50-Central Tax-Dated 13-09-2018 & notification No.51-Central Tax-Dated 13-09-2018 has appointed 1stday of October 2018 as the date on which the provision of Sec 51 (TDS) & Sec 52 (TCS) shall come into force. 1. Who is required to Deduct TDS under GST Section 51 of the CGST Act, 2017 has prescribes the authority and procedure for ‘Tax Deduction at Source’ As per section 51(1), the following class of person shall be required to deduct tax at source @2% ( CGST  1% + SGST 1%)  on the payment made or credited to the supplier where the total value of supply under a contract exceed Rs.2,50,000/-excluding GST: (a) a department or establishment of the Central Government or State Government; or (b) local authority; or (c) Governmental agencies, or (d) Following categories of person has been notified vide Notification No.33/2017-Central Tax Dated 15th Sept 2017 under clause 51(1)(d) a. an authority or a board or any other body, – (i) set up by an Act of Parliament or a State Legislature; or (ii) established by any Government, with fifty-one percent or more participation by way of equity or control, to carry out any function; b. […]

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How to revive a Lapsed Insurance Policy

Failure to pay the premium of a life insurance policy before the due date results in the policy lapse you can revive lapsed insurance policy. The cover ceases to be available once the policy lapses. It is possible to revive a lapsed life insurance policy subject to fulfillment of conditions. Life insurers also come up with special campaigns for the revival of lapsed policies with concession or waiver of penalties. Time A lapsed policy can be revived only if it has not crossed a certain period from the date on which the policy lapsed. This period is typically specified by the insurance company. Eligibility to revive a policy also depends upon the type of policy. Visit insurer branch The policyholder should visit the insurance company’s branch and get a revival quote. The revival quote will be typically a sum of all premiums due on the policy. This amount needs to be paid to the insurance company to revive the policy. Medical report Depending on the age of the policyholder and policy amount, a declaration of good health needs to be submitted. In case the policyholder has a medical history or is mandated to do a checkup, a medical report will have […]

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GST Refund Claim Process Simplified : See all the Details here

GST refund claim process simplified as it became a big issue for businesses amid liquidity problems. As per the finance ministry now submission of print out of form GSTR-2A will be sufficient to claim Goods and Service Tax refunds as against providing invoices in respect of all purchases for a given month. GSTR-2 A is a purchase return that is auto-generated by the system. And as per the government notification, the form will serve as the evidence using which claimants can avail of input tax credit or ITC. But in cases where the form GSTR 2 does not features all the details in respect of the invoices against which input tax credit is being claimed, the authorities may ask for the physical copy of invoices. The notification by the government further clarified that wherein GSTR 2A carries all of the details of the invoices, officials cannot ask for a copy of invoices. In the previous GST refund fortnights convened to expedite the GST refund settlement process, the government has cleared claims of exporters of more than Rs. 54,0000 crore till July. How to Claim GST Refund? The refund application has to be electronically submitted in Form RFD 01 within 2 years […]

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If Aryabhatta invented 0 then how do we know that Ravana had 10 heads?

We know that this was spread by few idiots and this was firstly I found on a page run by the peaceful community. Then after, a person with no brain forwarded it widely without having proper knowledge. Ravana has 10 head, Kauravas were 100 and Sahastrarjun had 1000 arms years before the invention of zero. There was number system in existence much before in all civilizations including India. But there was not zero and it’s applications. Brahmi lipi was used widely to write Sanskrit slokas in ancient India. If you see number system in the Brahmi lipi. Here it is… Now, if you want to write 11 in brahmi number you have to write the symbol of ten in ten digit and the symbol of one in unit digit. Here is the number system and it’s representation in Sarada Lipi. (Zero was added in this because it Sarada Lipi was developed in 3rd century.) Similar for Devanagari script which is popularly used to write Hindi and Sanskrit. Aryabhatta invented zero that means he thought that some number like zero exists and one can represent Ten as Symbol of one as ten digit and Symbol of zero as unit digit. This was firstly added in Bakhshali Manuscript and then it was added in other Lipis. Later on, Sridharacharya […]

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100 Best Movies on Netflix in India

Netflix continues to grow as the world’s biggest streaming service, announcing it has now more than 137 million subscribers globally in its latest quarterly earnings report. It’s achieved that on the back of spending tens of billions on original content and acquiring thousands of hours of films and TV shows from studios. Due to the nature of how personalisation works and Netflix’s emphasis on its own stuff though, the best movies can go missing in the clutter. That’s why we went ahead and have compiled the top 100 movies on Netflix, with the help of aggregate ratings on Rotten Tomatoes and IMDb. This list will be updated once every few months if there are any worthy additions or if some movies are removed from the service, so bookmark this page and keep checking in. Here are the best movies on Netflix in India, sorted alphabetically. 12 Years A Slave (2013) Duped into slavery on the account of a job, Steve McQueen’s adaptation of a free New York black man’s (Chiwetel Ejiofor) 19th-century memoir is an incredible true story and an important watch. 2001: A Space Odyssey (1968) In Stanley Kubrick’s highly-influential sci-fi film, humanity charts a course for Jupiter with the […]

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What is Post Office Monthly Income Scheme ( POMIS )

What is Post Office Monthly Income Scheme? 1. Post Office Monthly Income Scheme Post office offers POMIS among a host of banking products and services, under the purview of the Finance Ministry. Hence, it is highly reliable. It is a low-risk MIS and generates a steady income. You can invest up to Rs. 4.5 lakhs individually or Rs. 9 lakhs jointly, and the investment period is 5 years. Capital protection is its primary objective. For instance, if Sharma has invested Rs. 5 lakhs in the post office monthly investment scheme for 5 years. As mentioned above, the interest rate is 7.3%. His monthly income will be Rs. 3250 for that period. Postmaturity, he can withdraw his 5 lakhs, either from any post office or get it to his savings account via Electronic Clearance Service. 2. Features & Benefits of Post Office Monthly Income Scheme Capital protection: Your money is safe until maturity as this is a government-backed scheme. Tenure: The lock-in period for Post Office MIS is 5 years. You can withdraw the invested amount when the scheme matures or reinvest it. Low-risk investment: As a fixed income scheme, the money you invested is not subject to market risks and is quite safe. Start small: You can start […]

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Income Tax Department makes changes in PAN application form

The Income Tax Department on Tuesday announced certain changes to the application form for PAN or Permanent Account Number. The Central Board of Direct Taxes (CBDT), the apex policymaking body of the Income Tax Department, amended the income tax rules and said that quoting of father’s name in Permanent Account Number (PAN) application forms would not be mandatory in certain cases, according to news agency Press Trust of India. Quoting of a PAN, which is an identification number assigned to income tax assessees in the country, is required for financial transactions such as the opening of a bank account and filing of income tax returns (ITR). The amended rules provide that furnishing of father’s name will not be mandatory for a person whose mother is a single parent. The new rules will become applicable from December 5, the agency reported citing a CBDT notification. Here are five things to know about the changes made to the PAN application form by the Income Tax Department: 1. The Income Tax Department said that the application forms from December 5 would give an option to the applicant as to whether the mother is a single parent and the applicant wishes to furnish the name of the mother only. […]

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Full Comparison between Redmi note 6 pro vs Redmi note 5 pro

Xiaomi Redmi Note 5 Pro Xiaomi Redmi Note 6 Pro Display 5.99″ (15.21 cm) 1080×2160 px, 403 PPI 6.26″ (15.9 cm) 1080×2280 px, 403 PPI Performance Quad + Quad Core 1.8 GHz + 1.6 GHz, 4 GB RAM Quad + Quad Core 1.8 GHz + 1.6 GHz, 4 GB RAM Storage 64 GB 128 GB (Expandable) 64 GB 256 GB (Expandable) Camera 12 MP + 5 MP (Primary) 20 MP(Front) 12 MP + 5 MP (Primary) 20 MP + 2 MP(Front) Battery Expert Rating ★★★★★ ★★★★★ Read Expert Review ★★★★★ ★★★★★ Read Expert Review User Rating ★★★★★ ★★★★★ 3.8/5 based on 183,691 ratings ★★★★★ ★★★★★ 4.7/5 based on 1,686 ratings Best Prices Rs. 12,068@PAYTM M…BUY  Rs. 13,949@TATA CL…BUY  Rs. 14,199@GADGETS…BUY  SEE ALL PRICES  Rs. 13,999@MI.COMBUY  Rs. 15,999@AMAZONBUY  Not available in any other store Launch Date February 22, 2018 (Official) November 23, 2018 (Official) Brand Xiaomi Xiaomi Model Redmi Note 5 Pro Redmi Note 6 Pro Operating System Android v7.1.2 (Nougat) Android v8.1 (Oreo) Custom UI MIUI MIUI SIM Slot(s) Dual SIM, GSM+GSM Dual SIM, GSM+GSM SIM Size SIM1: Nano SIM2: Nano (Hybrid) SIM1: Nano SIM2: Nano (Hybrid) Network 4G: Available (supports Indian bands) 3G: Available, 2G: Available 4G: Available (supports […]

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Submit Life Certificate By November 30: Steps to get a life certificate

Steps to get a life certificate Pensioners should submit their life certificate by November 30, 2018 in order to continue receiving their pension, said State Bank of India (SBI), country’s largest lender, on its official Twitter handle- @TheOfficialSBI. The certificate can be submitted either by visiting the branch or by directly submitting it online, from the comfort of home. “The Jeevan Pramaan initiative makes life simpler for pensioners. In just a few clicks, you can submit your Aadhaar based digital life certificate,” the lender said in a series of tweets. Jeevan Pramaan, an Aadhaar-based digital certificate, was launched by the government on November 10, 2014. With the help of Jeevan Pramaan, the whole process of securing the certificate has been digitalized. Since the entire process is primarily Aadhaar based, digital certificate submitted by the pensioner can be authenticated only when pensioners’ accounts are seeded with their Aadhaar number, noted SBI on its portal- sbi.co.in. This initiative is in addition to the existing system of physical submission of life certificate by pensioners at the pension disbursing branches or any branch of the bank at his/her convenience. A physical certificate will continue to be accepted from pensioners if preferred by him/her, mentioned SBI. […]

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KTM Duke 125 India launch price Rs 1.18 L

KTM Duke 125 has been launched in India. Amit Nandi, President (Probiking) at Bajaj Auto Ltd. said “KTMs are always about high performance, edgy design and a thrilling ride. The 125 Duke will be the new stepping stone into the KTM brand for riders starting out in the world of racing.” It is the cheapest KTM on offer in India and sits below the KTM Duke 200, which is priced at Rs 1.51 lakhs, ex-sh for non ABS and Rs 1.6 lakhs for dual ABS variant. KTM Duke 125 gets ABS as standard. KTM Duke 125 is be powered by a 125 cc single cylinder engine that makes 14.5 PS power and 12 Nm of torque. Transmission is a 6 speed gearbox. Kerb weight is 148 kg and fuel tank capacity is 10.2 litres. KTM Duke 125 is rated to achieve a top speed of 120 kmph. In the international market, the bike looks quite similar to KTM Duke 390 and shares many of its features such as alloy wheels, tyres, and Bluetooth enabled digital screen. In India, the Duke 125 is offered with Duke 200 styling – thereby missing out on the LED headlight and touchscreen instrument cluster. KTM India says, “The 125 […]

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Royal Enfield Interceptor 650, Continental GT prices in India start at ₹2.50 lakh

Royal Enfield Interceptor 650, Continental GT Royal Enfield, the Chennai-based motorcycle unit of Eicher Motors Ltd, let loose on Wednesday the proverbial cat among the pigeons by launching the Interceptor 650 and Continental GT 650 at prices that pit the twins squarely against the KTM Duke 390 and BMW 310R and BMW G310GS in India. The Interceptor 650 at ₹2.50 lakh and the Continental GT 650 at ₹2.65 lakh are now the cheapest twin-cylinder motorcycles available in the country. The KTM Duke 390 retails at ₹2.43 lakh, the BMW G310 R at ₹3.09 lakh and the BMW G310 GS at ₹3.59 lakh. The cheapest twin-cylinder motorcycles after the Royal Enfield 650 twins are the Kawasaki Ninja 300 and the Yamaha YZF R3 at ₹3.35 lakh and ₹3.49 lakh, respectively. All prices are ex-showroom, India. The Interceptor 650 and Continental GT 650, however, are priced lower in Karnataka and Kerala—at ₹2.34 lakh and ₹2.49 lakh, respectively—to accommodate for higher levies and taxes in those states. “Keeping these motorcycles accessible is a key objective for us to bring in new people to the Royal Enfield way of pure motorcycling lifestyle and give our existing enthusiasts an irresistible opportunity to upgrade. We strongly […]

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5 Simple Ways To Spot Fake Gold – 5 Different Ways

Spot Fake Gold: Collectors of gold know that this precious metal has unique properties that can be identified through careful examination. You can learn to identify genuine gold and avoid being misled through devious practices. Protect your assets and be certain that the gold you buy matches the published claim. How to Test Gold Jewelry / Spot Fake gold Jewelers make an impression in each gold piece of jewelry designed and crafted from genuine molten gold bullion. On necklaces and bracelets, this stamp is on, or near, the clasp. Rings have a stamp somewhere on the inside surface. A jeweler’s loupe is sometimes required to see the tiny stamp placed on fine gold jewelry. The jewelry stamp will include the karat, also called the purity, of the piece, such as 14K or 24K. Close to this stamp is the manufacturer’s stamp, which further clarifies genuine gold jewelry. You might have an older piece of jewelry that does not have a jewelry mark, which could make you wonder if the piece is counterfeit. You will want to conduct additional tests on the piece. The Acid Test to spot fake gold All precious metals can be tested through the use of an acid […]

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Zero Balance Savings Account From Top Indian Banks: A Comparison

A Zero Balance Savings Account, also known as a basic savings bank deposit (BSBD) account does not obligate the customer to hold a minimum running balance every month as prescribed by the bank. These also come with debit/ATM card and net banking facilities. If you are looking at options to open such an account, here is a comparison on features of 4 leading public and private banks that provide their customers with BSBD account facility. State Bank of India (SBI) A BSBD account can be opened at an SBI branch as a single or joint account holder. A basic RuPay Debit/ATM card will be provided as a part of the banking facilities, free of charge. Receiving an amount through electronic internet transfer, depositing cheques issued by the central/state government, reactivation of inoperative accounts and closure of accounts is free of charge. Interest earned on these accounts will be the same as a regular savings account, that is 3.5 percent per annum for deposits up to Rs 1 crore. HDFC Bank An HDFC Bank BSBD account comes with a free Rupay debit/ATM card and passbook facility. Cash and cheque deposit facility at the bank’s branches and ATM are also not charged with a […]

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Stan Lee No More: A Great Loss to the Hollywood Industry

Stan Lee, the legendary writer, editor and publisher of Marvel Comics whose fantabulous but flawed creations made him a real-life superhero to comic book lovers everywhere, has died. He was 95. Lee, who began in the business in 1939 and created or co-created Black Panther, Spider-Man, the X-Men, the Mighty Thor, Iron Man, the Fantastic Four, the Incredible Hulk, Daredevil and Ant-Man, among countless other characters, died early Monday morning at Cedars-Sinai Medical Center in Los Angeles, a family representative told The Hollywood Reporter. Kirk Schenck, an attorney for Lee’s daughter, J.C. Lee, also confirmed his death. Lee’s final few years were tumultuous. After Joan, his wife of 69 years, died in July 2017, he sued executives at POW! Entertainment — a company he founded in 2001 to develop film, TV and video game properties — for $1 billion alleging fraud, then abruptly dropped the suit weeks later. He also sued his ex-business manager and filed for a restraining order against a man who had been handling his affairs. (Lee’s estate is estimated to be worth as much as $70 million.) And in June 2018, it was revealed that the Los Angeles Police Department had been investigating reports of elder abuse against him. On his […]

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SBI account holders, transfer money online without adding beneficiary

SBI ‘Quick Transfer’: For all money transfers via internet banking, generally we have to first register the beneficiary. State Bank of India (SBI) customers can do this without adding the beneficiary. However, there is a limit of Rs 25,000. SBI had introduced ‘Quick Transfer’ facility a few months ago. “Simplify life with the #QuickTransfer service that doesn’t require you to add a beneficiary to #TransferFunds up to ₹25000/- per day (₹10000/- per transaction). Download the SBI Anywhere Personal app and avail of the benefit along with many more,” the bank had tweeted in July this year. As per the official website of India’s largest public lender, you can transfer funds without beneficiary registration through the Quick Transfer facility. “By using the ‘Quick Transfer’ facility, you can send small value of remittances up to Rs 10,000/day to a third party without registration of beneficiary.” How to use Quick Transfer – Login to OnlineSBI -Go to ‘Payments/Transfers’ tab -Click on ‘Quick Transfer’ link What HDFC, ICICI, Axis, PNB, BoB offer ‘Quick Transfer’ facility is not provided by HDFC Bank, ICICI Bank, Axis Bank, Punjab National Bank and Bank of Baroda. However, you can send money immediately through IMPS after registering the beneficiary on the […]

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