Category: Finance and Accounting
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ITR Filing in India: How is Interest Earned on a Joint Account Taxed?
When it comes to income tax filing, one area that often creates confusion is interest earned on joint bank accounts. Many families in India open joint accounts for convenience, but the question arises — who pays the tax on the interest earned? Let’s break this down as per current Indian tax rules. 1. Who is…
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Income Tax Rules 2025: New ₹4 Lakh & ₹8 Lakh Limits on Perks – How They Boost Your Take-Home Salary
Income Tax Rules Revised: New ₹4 Lakh & ₹8 Lakh Thresholds for Employee Perks The government has recently revised the income tax rules, bringing much-needed relief to salaried taxpayers. Two key thresholds have been significantly increased—one for classification of “specified employees” in relation to non-monetary perks, and the other for exemption on overseas medical treatment…
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Pradhan Mantri Viksit Bharat Rozgar Yojana 2025 – Full Details, Eligibility, Benefits & Examples
Pradhan Mantri Viksit Bharat Rozgar Yojana (PM-VBRY) – Complete Guide India has been striving to expand job opportunities, formalize employment, and boost industries. To address this, the Government of India has launched the Pradhan Mantri Viksit Bharat Rozgar Yojana (PM-VBRY), a landmark scheme that combines support for job seekers and employers under one program. With…
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8th Pay Commission: Latest Updates, Salary Hike Expectations, and Implementation Timeline
The 8th Pay Commission has become one of the most anticipated developments for over 1.1 crore central government employees and pensioners in India. Employees are eager to know how much salary hike they can expect, when the recommendations will be implemented, and what other benefits may come along. Let’s dive into the latest updates and…
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August 2025 Tax Update: ₹12 Lakh Slab Benefit, New Rules on Deductions, and Compliance Changes Explained
Latest Tax Updates in India – 2025: A Detailed Guide for Individuals and Businesses India’s tax landscape has undergone some of its most significant changes in years. With the Union Budget 2025 introducing bold reforms and the new Income Tax Bill 2025 aiming to simplify the law from April 2026, taxpayers — whether salaried individuals,…
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ITR-2 Filing Guide for FY 2025-26: Step-by-Step Process, 26AS/AIS Reconciliation, and Old vs New Regime Tax Examples
1) What is ITR-2 and who should file it ITR-2 is meant for individuals and Hindu Undivided Families (HUFs) who do not have income from business or profession but have any of the following: If your only income is salary/pension, one house property, and total income ≤ ₹50 lakh, you may be eligible for ITR-1…
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100 Voucher Entry Examples for Service-Based Companies in Tally
In a service-based company, day-to-day financial activities—like receiving payments, paying expenses, and adjusting accounts—are recorded using vouchers in Tally.ERP 9 or TallyPrime.Voucher entries ensure that every business transaction is documented properly for accounting accuracy, GST compliance, and financial reporting. There are several types of vouchers in Tally, including: Below is a comprehensive list of 100…
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India’s Economic Backbone: Why the RBI Governor’s Rebuttal Proves India Is Far from a ‘Dead Economy
🇮🇳 India’s Strength in Words: Why the RBI Governor’s Statement Matters More Than Political Rhetoric In a world often dominated by populist political statements and global trade tension, the recent remarks by India’s Reserve Bank of India (RBI) Governor—a non-political, professional economist—carry special weight. His calm yet firm rebuttal to claims labelling India as a…
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100 Essential Ledger Accounts for a Logistics Company with Tally Prime Groups & Setup Guide
✅ What Are Ledgers? Ledgers in accounting are books or digital records where all financial transactions related to a particular account (e.g., fuel expense, customer, vendor) are recorded. 🧾 100 Ledger Names for a Logistics Company (Categorized) 🔹 Assets (Group: Assets) Ledger Name Group 🔹 Liabilities (Group: Liabilities) Ledger Name Group 🔹 Income (Group: Indirect…
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100 Voucher Entry Examples for Logistics Companies in Tally Prime – With Excel Download
Maintaining accurate voucher entries is crucial for any logistics company. From fuel expenses to freight income, vehicle maintenance to driver salaries – logistics firms deal with hundreds of recurring transactions every month. This list of 100 voucher entry examples is designed to help accountants, MIS executives, tally operators, and business owners ensure proper classification, compliance,…
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What is Form 26AS? Download, Understand & File ITR Easily with Real Example (2025 Guide)
Form 26AS is a crucial document for filing your Income Tax Return (ITR) in India. Here’s a complete and easy-to-understand explanation for you: 🔍 What is Form 26AS? Form 26AS is an annual tax credit statement issued by the Income Tax Department. It contains details of: ✅ It acts as a consolidated tax statement linked…