Employees’ Provident Funds and Miscellaneous Provisions Act 1952, an employee has to make a specific contribution of remuneration to the provident fund account, and an equal contribution has to be made by an employer. Withdrawals under this scheme require an EPFO member to fill up a handful of forms, PF Form 19 being one of them. What […]
Minimum Viable Product or MVP is a development technique in which a new product is introduced in the market with basic features, but enough to get the attention of the consumers. The final product is released in the market only after getting sufficient feedback from the product’s initial users. What is a minimum viable product
Most of the individuals own a savings bank account. However, only a few know that the interest received on it is taxable under the ‘Income from other sources’ head. But, there’s Section 80TTA to the rescue that can save taxes on interest received up to Rs 10,000. Section 80TTA of the Income Tax Act, 1961
MAT stands for “Minimum Alternate Tax,” which has been introduced to collect tax from companies that have been enjoying tax benefits or tax exemptions despite having huge profits. These companies distribute considerable dividends to shareholders but take advantage of various income tax law provisions, such as exemptions, deductions, etc., to avoid paying taxes. Such companies
The World Intellectual Property Organization (WIPO) is a specialized agency of the United Nations (UN) responsible for promoting and protecting intellectual property (IP) rights worldwide. It was established in 1967 and is headquartered in Geneva, Switzerland. Key Functions of WIPO WIPO plays a crucial role in: Developing international IP laws and policies. Managing global IP
Depreciation is discussed in Section 32 of the Income Tax Act of 1961. Depreciation is characterised as a decrease in the value of an object caused by wear and tear. People claim depreciation deductions only for accounting or taxation purposes The concept of depreciation is allowed under the Income Tax Act. Depreciation under the Income Tax
The Unified Payments Interface (UPI) has emerged as a champion of convenience and speed. In 2025, the State Bank of India (SBI) implemented specific limits for UPI transactions to ensure secure and efficient digital payments. Understanding these limits is crucial for users to manage their transactions effectively and avoid any inconvenience. The State Bank of India
India-EFTA Desk will function as a single-window mechanism to provide support to EFTA businesses looking to invest, expand, or establish operations in India Business Roundtable Witnessed Participation from Over 100 Companies from India and EFTA Nations India and the European Free Trade Association (EFTA) – comprising Switzerland, Norway, Iceland, and Liechtenstein – have taken a
The Rajasthan Information Commission (RIC) was established on April 18, 2006, under the Right to Information Act (RTI), 2005. It is responsible for ensuring the effective implementation of the RTI Act in Rajasthan and acts as the final appellate authority for RTI-related matters in the state. Role & Responsibilities of RIC The RIC primarily functions
Inspection, etc., of reports No person shall be entitled to inspect, or obtain copies of, any reports made by any wealth-tax authority to the Settlement Commission ; but the Settlement Commission may, in its discretion, furnish copies thereof to any such person on an application made to it in this behalf and on payment of
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