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Showing posts from February, 2020

5 Best Income Saving Plan

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NATIONAL SAVING CERTIFICATE(NSC) The National Savings Certificate comes out on top in our rankings because of its higher returns and flexibility. National Savings Certificates are available for an investment period of 5-10 years. The best part of this scheme is that the minimum investment one can make is as little as Rs. 100, while there is no upper limit. The interest rates for NSC (VII) five-year schemes is 8.5% annually, and for the ten years NSC (IX) scheme it is 8.8%. Tax benefits are available for investors. Although the age of entry to this scheme is 18, minors can open an account along with a guardian. However, the only downside to this scheme is that premature withdrawal is not possible. SENIOR CITIZEN SAVING SCHEME (SCSS) This scheme is open to all senior citizens. It is offered by both banks and by the postal department. We rank it second because of its high returns, tax benefits, and flexibility. SCSS is one of the most preferred savings schemes for the eld...

One Person Company (OPC) Compliance Requirements

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OPC Compliance Requirements One Person Company   is a type of company introduced in the Companies Act, 2013 to enable alone Entrepreneur to start and manage a limited liability entity. OPC was established to support single person Enterprises that are small businesses with a sales turnover of of less than 200 lakhs. So, the compliance requirements for OPC are also limited when compared to a private limited company. In this article, we look at post incorporation OPC compliance requirements. Corporate Stationary After registration of a One Person Company (OPC), it is advisable to purchase the following stationary for use with OPC compliance matters. Name Board:  All companies including a OPC is required to paint or affix the name of the company and address of its registered office outside every office or place in which it carries on business. Company Rubber Stamp Company Rubber Stamp :  A round rubber stamp bearing name of the compan...

Budget 2020 key highlights

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* GST bring synergy in logistics sector (20% time reduction) * 60 lakhs new taxpayers added via GST introduction  * New simplified GST returns from April 2020 * FDI elevated during period 2014-2019 to $284bn * Central government debt reduced to 48.7% of GDP in 2019 * 16 points action plan for agricultural & irrigation sector under aspirational India  * New Education Policy will be announced soon * ECB and FDI will open in education sector  * Degree level full fledged online programs to be started  * National Police University & Forensic university is proposed to be set up * INR 99,300 cr proposed for education sector * Investment clearance cell to be set up to facilitate investments and to provide advisory at State as well as Centre level * 5 new smart cities to be developed  * Move to develop each district an export hub * INR 27,300 cr for promotion of industry & commerce  * National logistics policy to be re...