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The GST council is expected to discuss major restructuring to raise the base slab from 5% to 9-10% while doing away with the 12% rate and moving 243 items in this segment to the 18% band. These moves will increase the tax burden on consumers but may generate close to Rs 1 lakh crore in […]

Boards of directors of companies will have to provide shareholders details on the integrity, expertise, and experience of independent directors hired during the year, according to new rules the Centre has introduced. Independent directors should also have passed a self-assessment test conducted by the Indian Institute of Corporate Affairs (IICA), attached to the Ministry of […]

The presumptive tax scheme is meant for small business owners and people having professional income as keeping a record of all their business expenses to file the Income Tax Returns (ITR) is difficult. So individuals eligible forq this method are not required to maintain the accounting book. Eligibility for the Presumptive Taxation Scheme This facility […]

All major lenders, including State Bank of India (SBI), allows a certain number of ATM transactions every month to its customers. Over and above these mandated number of free transactions, the customers are charged by the bank. However, maintaining a certain minimum balance in your account, you can do unlimited transactions at SBI ATMs and […]

Top Interview Questions for the post of Accountant Going for Accountant Post interview? Accountant is an important part in small as well as in any big organisation. Therefore, Companies do that at most care while recruiting Accountant. So, go through all the questions very care- fully to clear the interview. Considering you will be short […]

Punjab and Maharashtra Co-operative (PMC) Bank customers panic, as RBI imposes restrictions. This is on account of many regulatory lapses including massive under reporting of Non-Performing Assets (NPA) RBI has capped withdrawals per account at Rs. 1000 for next six months and also PMC can not make fresh loans. After initial checking of PMC records […]