Month: February 2023

Still looking around accounting services in Delhi NCR or elsewhere, to understand what to take care of when registering for GST? To those who are not yet aware of what GST means, it stands for Goods and Services Tax, a tax imposed on the sale of goods and services. It is levied on the value […]

The Reserve Bank of India (RBI) and the Monetary Authority of Singapore (MAS) revealed the UPI-PayNow linkage. It is a real-time payment system connection between India’s Unified Payments Interface (UPI) and its corresponding network of Singapore, PayNow. It will make it easier for residents of India and Singapore to send money across borders quickly. What […]

An improvised version for small value payments When e-payment systems were not there earlier, the transaction procedure could have been more extensive and manageable. National Payments Corporation of India (NPCI) developed Unified Payments Interface (UPI) for instant transactions to facilitate the payment system. UPI marked a revolution in digital payments. Nowadays, people are afraid to […]

How to Claim Tax Benefits on Premiums for Multi-year Health Plans Instead of looking at health insurance as an investment instrument with returns, one should get it to protect their resources in the case of unforeseen circumstances. Health insurance is now strictly required and not simply a luxury due to the escalating cost of healthcare. […]

The Rule for NEFT/RTGS Change The Reserve Bank of India (RBI) modified NEFT and RTGS for transactions under the Foreign Contribution Act. The Ministry of Home Affairs urged SBI to submit a daily report about foreign donors, including money received from overseas; therefore, the RBI responded in response. Foreign donations must only go to the […]

RBI and ‘Dilemma’ of Repo Rate A 25 basis point increase was made to the repo rate, from 6.25 per cent to 6.5 per cent, on February 8, 2023, under the direction of RBI Governor Shaktikanta Das and the Monetary Policy Committee (MPC). The RBI has hiked the repo rate six times, bringing the total […]

Budget 2023: A Vision for New IndiaSmt. Nirmala Sitharaman, Union Minister of Finance and Corporate Affairs presented the Union Budget 2023–24 before the Parliament. She said, “In the 75th year of India’s Independence, the Indian economy is acclaimed as a “bright light” as the growth is estimated at 7%, the most among the major economies, […]

Credit Information Bureau (India) Limited (CIBIL) is a credit information company that preserves and maintains all the data relating to credit-record of companies as well as individuals. On the basis of the preserved credit history, it provides a “CIBIL Score”. CIBIL score is basically a three-digit number that demonstrates the credit health of a person. […]