Author: biranchi.cfa
Introduction to PMEGP Scheme:- Under the scheme, the Government of India offers subsidies up to 35% on the total Project Cost, The Project cost covered Rs.20Lacs for Service Sector units & Rs.50 Lacs for Manufacturing units. Eligibility & Qualification:- Assistance under PMEGP scheme is available only to new viable projects. Existing units and any units that have already availed government subsidy under PMRY,REGP,PMEGP or any other schemes of Central/State government are also not eligible. An individual over 18 years of age are eligible. He must passed 8th standard to setup the project over 10 Lacs in the manufacturing sector/5 lacs…
TDS is deducted by the payer/deductor at the time of making certain specified payments to the payee/deductee. The deductor is responsible for deducting the TDS as applicable from the payee’s payment & remitting it to the government. TDS is deducted by the payer/deductor for various types of payments such as salaries,interest,dividends,rent,professional fees,commission,contractual payments, winnings from lotteries and many more. The most commonly used TDS sections are 194C,194J,194Q,194H &194I. Let’s discuss on these 5 important TDS sections: – TDS SectionNature of PaymentTDS RateThreshold Limit for the current FY 23-24194CPayment made to Contractors/sub-contractors.1% applicable to Individual/HUF. 2% applicable to Companies & othersRs.30,000/-for…
Advance Tax to be Paid by individual/HUF/ companies, whose incomes are not coming under presumptive taxation schemes. Advance Tax to be paid in 4 instalments in a year at a certain percentage of the estimated total income for the Financial Year by subtracting all eligible deductions & exemptions. Table Format Status of assessee1st Installment (15th June)2nd Installment(15 the September)3rd instalment (15 the December)4th instalment( 15th March)Tax payer who opted for presumptive taxation scheme of sec 44AD/44ADANilNilNil100% of advance TaxTax payer who not opted for presumptive taxation scheme of sec 44AD/44ADA15% of estimated advance tax45% of estimated advance tax75% of estimated…
Definition: Net Asset Value is the intrinsic values of a mutual fund scheme, also it is the per unit value of a mutual fund scheme .It is an indicator of the funds overall performance. Mathematical Formula: In order to calculate the NAV of a Mutual Fund scheme, each asset and liability of the scheme needs to be valued. NAV Per unit = (Funds Assets-Funds Liabilities)/Total Number of units of the scheme at a given date. Also called the funds per unit Market Value. It can also be calculated as = Unit Capital plus Reserves. Where Funds assets includes total market…