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What is TDS, Income tax, Slab and Calculator ?

TDS = T ax D educted at S ource I.1 Income Tax 1.1 What is TDS 1.2 Who is Deductor and Deductee with examples 1.3 How one can save the TDS 1.4 Why to save TDS What is TDS..? As the name suggests, TDS is the spot deduction of the tax from the income source itself at the time of earning. This is deducted by the source if the payment amount/salary exceeds a certain limit. (As on date, this limit is 5,00,000 in India) A s ource here can be a person your bank your company/organization , etc which is paying you some amount or as a salary. Who are Deductor and Deductee? The TDS is deducted by the deductor and should pay this tax to the government on behalf of the deductee Deductor: The Company/Person that makes payment after deducting TDS Deductee: The Company/Person Which is receiving his/her payment after TDS Examples : Scenario 1: Mr.Joy is employed with ABC Company, then ABC company can deduct the TDS from Mr. Joy

JioMart : is it the next disruption in E-Commerce ?

JIOMART DESH KI NAYI DUKAAN 1.1 What is JioMart? 1.2 What is the business model? 1.3 How you can place orders? 1.4 What benefits you will get? JIOMART JioMart is a subsidiary of Reliance Retail and it was started as a joint venture between Reliance Retail and Jio Platforms. Both these are subsidiaries of Reliance Industries Limited (RIL) which is owned by Indian billionaire business magnate Mukesh Dhirubhai Ambani. JioMart is an e-commerce chain and online grocery delivery service that provides groceries from Reliance Fresh, Reliance Smart, and neighborhood Kirana stores. The JioMart platform was soft-launched in December 2019 and in April 2020 a pilot project of JioMart has been launched in selected areas of Navi Mumbai, Thane, and Kalyan for early trials. In May 2020, Jiomart was launched in 200 cities in India and it is adding its own stores and expanding its network very rapidly in India. As the current COVID situation is boosting the online business, this situa

How to create Dmat account in Zerodha

Zerodha Account Opening Process I.1 Charging Bull This post is intended for all my new investor friends: who wants to start their journey in the field of stock markets who are having a keen interest in managing their personal finance who wants to generate passive income who wants to generate a huge corpus by the age of their retirement who wants to beat the inflation rate Your first step should be getting your D-mat (De-Materialised) account created to invest in the equities/shares. You should open your Demat account with a Broker to buy/sell shares in the share market. In India there are two stock exchanges : NSE : National Stock Exchange BSE : Bombay Stock Exchange We can buy/sell shares from these stock exchanges via an intermediary called a broker. You must open a Demat + Trading account with these brokers for online buying and selling of shares. Zerodha, Upstox, Angel Broking, 5 Paisa, ICICI securities, HDFC securities are some of the brokers in India. While Zerodha, Upstox,

Start your first SIP with Axis Mutual Fund

Start your first SIP with Axis Mutual Fund Hope you have gone through my blog on is it the right time to invest in a mutual fund.. and then you are landing on this page..! if not, you can visit the above link or if you have decided to begin with this mutual fund then...without further delay. Let's start with the step by step guide to open your first mutual fund with Axis... Step 1 : Go to the Axis mutual fund official website: https://www.axismf.com/ below screen should appear Best Axis Mutual fund 2020 click on New Investor on the right-hand side top corner. mutual funds vs stock market Step 2 : Enter your full name, your mobile number & Email to link and enter PAN, Date of Birth and click the checkbox to accept Terms and conditions and then Next Tips : Enter a mobile number to receive OTP, also enter that mobile number which you want to give for your online KYC If your online KYC was not present in the database, you can expect some OTP's to verify your mobil

Apply for IPO Using your Upstox Demat

Apply for IPO Using your UPSTOX Demat If you still do not have a upstox Demat account, then what are you thinking for complete your upstox free account opening by following my simple blog on upstox account opening, below is the link for step by step guide: Upstox Demat account for free Already have your Upstox account then and decided to bid for IPO Let's get started ... with the IPO application process. Step 1: Log in to your Upstox Pro mobile app and open options on the left top corner for your IPO application Below Upstox IPO apply screens you should see Step 2: Click on Apply For IPO, Upstox will show the Upcoming and Current IPO as below Step 3: Select or Click for the details of the Current IPO or the IPO which you like to apply. You will be asked to log in with your User ID (UCC ID), PAN, and the Birth year Step 4: Click on the details for your online IPO application. In my case, it was the CHEMCON Speciality Chemicals Limited which I bid for. This will open the issue d

Sovereign Gold Bond FY 22-23 Series III : opens on December 19 : Should you Invest ?

Sovereign Gold Bonds (SGB): Invest or Avoid? What is Sovereign Gold Bond (SGB's)? Who is eligible to apply? How much one can apply? How to apply? When one can redeem? What are the advantages? What is the risk associated? What are the returns from it? Like most of you, I hate paying making charges and GST while buying gold ornaments. Hold on, the worst part is while selling too, you have to pay some charges😡. So if you don't like this and still want to buy gold or invest in gold then this blog is surely for you ..! Sovereign Gold Bonds(SGB)- The SGB's are the Indian government authorized gold bonds wherein an individual can buy gold in a digital-form. This is the best substitute for physical gold which you hold that comes with a risk (of getting stolen) and charges like making and service tax (GST). These Bond are issued by the Reserve Bank on behalf of the Government of India. Gold bonds are considered a wiser investment over physical gold. Gold is in t

Aditya Birla Sun Life (ABSL) Liquid Fund: Start with as low as 500

Start ABSL Liquid Fund with 500 Who would like to keep their hard-earned money with only a 2.5% rate of interest (ROI) in SBI and 3% ROI in HDFC/ICICI banks... This does not even beat the inflation rate which is way higher than any bank saving account interest rate... So why to keep your money idle in saving bank when you have the safest option to park it in liquid funds. If you don't know what are liquid funds, check out my previous blog on the same: Investing in Liquid Funds: A better Saving approach If you have decided to go for a liquid fund, then below are the steps for getting started with ABSL (Aditya Birla Sun Life) Liquid fund. Start your liquid fund with as low as 500 and invest or add your money whenever you want in the future. Step 1 : Let us start investing in the ABSL Liquid fund in 5 minutes by downloading the app Active Account from the play store of your mobile. Below is the snapshot of the authorized app from Aditya Birla Sun Life AMC Ltd. Step 2 : Afte

Apply IPO using SBI Internet Banking ASBA

Apply IPO using SBI Net Banking ASBA Prereq : If you are applying IPO for the first type from SBI Internet banking, then you should first get your Name and details registered. Below are the steps or the guidelines for applying to an IPO using ASBA of SBI internet banking. In this blog, you will get your answer to the question 'how to apply IPO in SBI net banking' Let's Start...your IPO Application...! Step 1 : Log in to your SBI Internet banking and click E-Services as shown in the below screenshot Step 2 : Click on the option Demat & ASBA for applying an IPO which is running Step 3 : Click on IPO (Equity/Rights) Step 4 : Following page appears then Accept as shown in the below image. Step 5 : Select the IPO which you want to apply and hit the GO button. Step 6 : Select the Category also know as an investor type as Individual . Step 7 : After selecting the category the IPO details will appear. Step 8 : I hope you have already registered as an ASBA applicant in SBI inte

Old Regime vs New Regime of Indian Taxation

Indian Taxation System Old VS New Regime I.1 Introduction Contents 1.1 What is the Indian Taxation Scheme 1.2 Old Regime & the New Regime of Taxation 1.3 How to choose between these two regimes 1.4 Which is Beneficial for you? 1.5 Things to Keep in mind 1.6 Tax Calculator 1.1 What is the Indian Taxation System The below diagram illustrates the Taxation system in India which is divided into two parts, Direct taxes, and Indirect taxes. Right now we will only focus on the " Income tax " for going ahead in this blog post. I.2 Indian Tax System post-GST The government imposes a tax on taxable income of all persons who are individuals, Hindu Undivided Families (HUF's), companies, firms, LLP, an association of persons, a body of individuals, local authority, and any other artificial juridical person. Isn't it complex ..? Let me tell you this way : Everyone who earns any kind of income is liable to pay income tax. However, agricultural Income is tax-free. Voila ... Sou

How much tax can you save ?

How Much Tax Can be Saved..? Tax Saving is a Skill... You will not want to give your hard-earned money to anyone, right ...? Not even to the government in the form of taxes. Of course, you have to pay taxes to the government, above a certain limit of the money you earn. But my dear readers, let me tell you... There are certain ways to reduce your tax payable or to bring your tax liability down to zero as well... To know more, Keep Reading, Keep Sharing, Keep Following, Consider subscribing... There's a way to earn some money as well while saving your taxes. Nowadays, m ost of people want to invest in a kind of tax saver instrument which will help their money to grow and beat inflation. I personally will not like to keep my money lying in a savings account. I have seen most of the people who start investing when the ending of FY(Financial Year) is near: just to save the tax for that year and to get the TDS (Tax Deducted at source) back by f

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