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Showing posts from June, 2023

Common about Top Businessmen & CEOs

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  According to numerology, individuals born with a birth number of 1 tend to possess certain characteristics and personality traits associated with that number. Here are some general traits often associated with people born with a birth number of 1:   Leadership: People with a birth number of 1 are often natural leaders. They have a strong sense of self-confidence, assertiveness, and the ability to take charge in various situations. Independence: Individuals with a birth number of 1 value their independence and prefer to take control of their lives. They have a pioneering spirit and are not afraid to venture into new territories. Ambition: Those born with a birth number of 1 are often driven and ambitious. They set high goals for themselves and work diligently to achieve them. They have a strong desire to succeed and excel in their endeavors. Creativity: People with a birth number of 1 tend to be creative and innovative. They have original ideas and a unique persp

Salary and Capital gain income | Share trading income ITR | ITR-2 Filing

When filing ITR-2 (Income Tax Return Form 2) for income tax filing in India, there are several important elements and details that need to be disclosed. Here's a breakdown of the key information required for different sources of income: Salary: Income from salary: Mention the total salary income received during the financial year, including all allowances, perquisites, and bonuses. Deductions: Declare any deductions you are eligible for under Section 16, such as standard deduction, professional tax, etc. Allowances exempt under Section 10: Report any allowances that are exempt from tax, such as House Rent Allowance (HRA), Leave Travel Allowance (LTA), etc. Form 16: Attach Form 16 received from your employer. Interest Income: Interest from savings accounts: Provide details of interest earned from savings accounts held with banks or post offices. Interest from fixed deposits, recurring deposits, or any other deposits: Disclose interest income earned from various fixed-income instrume

How to file ITR | Income tax return

To file an income tax return (ITR) online in India, you can follow these steps, starting from opening an e-filing account and ending with OTP verification through Aadhaar. Open an e-filing account: a. Visit the Income Tax e-filing portal ( https://www.incometax.gov.in/iec/foportal/ ) in your web browser. b. Click on the "Register" button located on the right side of the homepage. c. Select the user type (individual, HUF, etc.) and click "Continue." d. Fill in the required details such as PAN, name, date of birth, and contact information. e. Choose a password for your e-filing account and select a secret question and answer. f. Enter the captcha code and click "Submit."   Activate the e-filing account : a. After submitting the registration form, you will receive an activation link on the registered email address. b. Click on the activation link to activate your e-filing account. c. Once activated, log in to your account using your PAN

Money management | Having control over your money

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  Managing personal finances effectively requires developing strong money management skills and implementing a well-structured plan. To manage your finances better, consider the following tips: Set Clear Financial Goals: Start by establishing specific and achievable financial goals. These goals could include saving for a down payment, paying off debt, or building an emergency fund. Clear objectives provide focus and motivation. Create a Comprehensive Money Management Plan: Develop a detailed plan that encompasses budgeting, expense tracking, saving strategies, debt management, and investment options. Having a holistic approach ensures that all aspects of your financial life are considered. Budgeting: A budget is the foundation of effective money management. Track your income and categorize your expenses, allocating funds for essential expenses, savings, and debt repayment. Regularly review and adjust your budget as needed. Track Your Expenses: Monitor your spending habits closely by re

Opening a current bank acount in India

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  When you start a business, it's important to separate your personal finances from your business transactions. Opening a current account is a key step in achieving this separation. Unlike a savings account, a current account is designed specifically for business needs. It offers features like checkbook facilities, higher transaction limits, and overdraft options. With a current account, you can manage your business finances effectively, receive payments from clients, and make business-related payments. It also helps you maintain accurate records and simplifies tax compliance and financial reporting. Having a dedicated current account gives your business a professional image and makes your operations smoother. So, if you're an aspiring entrepreneur, opening a current account is an essential move for your business. B elow are the steps to open a current account: Research and Choose a Bank: Conduct a research on different banks to identify the ones that offer current accounts w

Starting a new business | Startup in India

  Introduction Starting a business in India today differs significantly from starting one 10 years ago due to several factors. Technological advancements, policy reforms, and changing consumer behavior have created both new opportunities and challenges for entrepreneurs. Let's explore the differences, challenges, basic steps, capital requirements, and trending business ideas in India.   Differences from 10 Years Ago: a.  Digital Transformation:  Over the past decade, India has witnessed a massive digital transformation. The proliferation of smartphones, widespread internet access, and the rise of e-commerce platforms have opened up new avenues for businesses to reach customers and operate online. b.  Policy Reforms:  The Indian government has introduced several reforms to facilitate ease of doing business. Initiatives such as GST implementation, the introduction of the Insolvency and Bankruptcy Code, and the Make in India campaign have aimed to simplify processes, enhance transpare