cKYC (Central KYC) is new KYC (Know your customer) process mandated by Government of India and active since Feb 1, 2017. As part of cKYC, all customers opening a new bank account or new mutual fund transaction need to be CKYC complaint.
Below are the CKYC forms for individuals and non-individuals (legal entities). You need to submit these forms to the financial entity you are interacting with (e.g, bank or mutual fund broker or insurance company etc)
GST Bill (Good and Service Tax Bill) is indirect tax system in India that covers manufacture, sale, and consumption of goods as well as all sort of services. This will was in discussion for long and was eventually passed by parliament in India in Aug 2016.
Form 16 is the most important document for figuring out the income tax liability for a salaried person. In this document we cover the importance and detail of form 16.
Since Dec 2016 to March 2017, EPFO (Employee Provident fund Organization) has taken a massive exercise to digitize all EPFO member records and enroll as many new member as possible. To make it practical, it has now mandated compulsory UAN number for all fresh contribution to EPF.
Though EPFO has right intentions in place, in practice these changes have led to lot of ...
GST (Good and Service Tax) is a landmark bill in India's indirect taxation system. It is going to rolled out in India on July 1, 2017. GST portal is the central portal and website made available to general public to register, upload, and manage their GST obligations.
India's finance minister Arun Jaitely presented union budget on Feb 1, 2017 for financial year 2017-18. Given the upcoming rollout on July 1, 2017, lot of people were looking for updates on GST as part of budget. Here is a quick summary of GST updates mentioned in Budget 2017-2018.
EPFO (Employee Provident Fund Organization) manages the India's primary social service scheme known as EPF or PF (Provident Fund). Currently it has more than 4 crore members as part of service and is mandatory for all private companies in India having more than 20 employees.
EPFO members need to login to EPF website regularly to check if their contributions as well the matched contribution by ...
Income tax rates and slabs in India are an important aspect impacting each and every salaried person. From individual perspective, they want the tax rate as low as possible. While from government perspective, it want to increase the money collected from tax without impacting the economy.
FY 2017-18 (AY 2018-19) starts from Apr 1, 2017 and end of Mar 31, 2018. It is a crucial year from tax and budget perspective due to demonitisation impact on economy.
Below is the income tax slab and rates based on budget 2017 presented on Feb 1, 2017.
In December 2016, Prime minister Narendra Modi has launched a new mobile app called BHIM to simplify digital payment in India. Such a mobile app was badly needed as the country is still facing significant cash crunch after demonetisation. But the adoption of BHIM has been less than desired. To fix this, government has declared a new BHIM referral scheme yojana to promote use of BHIM Mobile app.
Along with referral Bonus scheme, india govt has launched a BHIM Cashback Scheme]
BHIM is the premier mobile digital payment platform promoted by govt of India. It was launched by Prime minister Narendra Modi in December 2016. Core part of BHIM involves a mobile app and allows users to do bank account to bank account transfer in a simple and seamless manner.
Now to promote wide adoption of BHIM, india government has launched a cashback scheme along with BHIM Referral Bonus Scheme.