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October 15, 2019; on the birth anniversary of APJ Abdul Kalam, let’s remember this great personality who inspired each one of us to think beyond our imaginations. On this fortunate day when the world, especially India was gifted with this great mind; the United Nations decided to observe his birthday as The World Student’s Day.APJ Abdul Kalam was fond of students to an extent that he believed for a country to progress; it needs to focus on the betterment of students. According to him, students are the makers of theSEE DETAILS

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Before coming to this Dearness Allowance hike update, a simple question comes in the mind of a common man i.e. what is Dearness Allowance?DA which means Dearness Allowance is a component of salary (if terms of employment so provide) which is paid to central government employees/pensioners to adjust the cost of living. DA is a fixed percentage of an employees’ basic salary. The Union cabinet, has increased the dearness allowance for Central Government employees and pensioners by 5% which is a pre Diwali gift for approx 50 lakh government employees andSEE DETAILS

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A lighter version for e-filing your income tax return named as” e-filing lite” is launched by the Income Tax Department. This can be accessed through clicking on E-filing lite on  home page. This page will only cover filing of return and for all the services, click on “Portal login” on the home page .FAQsWhat is income tax?Income tax is the amount which is required to be paid by the individual on the basis of his income.What is income tax return?Income tax return is the statement of all the income earnedSEE DETAILS

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GST (Goods and Services Tax) India

What is the Letter of Undertaking under GST?Letter of undertaking is the document that the user provides declaring fulfillment of all requirements under GST. It is furnished in case of export undertaken without paying IGST. Also, according to the Notification No. 37 /2017 – Central Tax It is mandatory to furnish LUT to export goods or services or both without paying IGST. If the exporter fails to provide the LUT, then he has to pay IGST or provide an export bond. Earlier LUT could only be filed offline at theSEE DETAILS

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Income Tax Learning

 Income tax is payable if any individual earns an income in a financial year. The tax rate depends on the aggregate income which the individual has earned under the following heads –Income from SalaryIncome from House PropertyIncome from Capital GainsIncome from Business or ProfessionIncome from Other SourcesAll the five heads of income are added together to arrive at the total income which is subject to income tax. There is a tax slab based on which the income calculated aggregating the five heads is calculated. The tax slabs are different forSEE DETAILS

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