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Check payment

Advantages of Using Cheques for Payment

Cheques are quite important as they provide financial security by holding the cash for the cash owner. When it comes to holding a large amount of money, likes in million, it will be difficult for someone to carry that out. That’s when the cheques come handy. With the help of the cheque, it becomes easy for a person to cash his or her amount to the desired person. Also, it is quiet a safe method for the transaction. In general, it is a transaction process that is used for the transfer of money from one back account to another bank account ...
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Things to do Before Introducing a New Product

These days with the increasing completion in the market, the companies have to make sure that they do a well defines pre-research before launching their products in the market. This will help them establish their product in the markets and also help it sustain in the long run.  Thus there are a few necessary tings that need to be done so that to make sure that it won’t fail. Now here are some of the things that one must do when planning to launch a product in the market. Understand the market that you will be competing in To launch ...
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GST

7 Things you must Know about GST

The goods and service tax is basically an indirect tax or a consumption tax which was imposed on the supply of goods and services in India. It came into effect from July 1, 2017. Replacing the multiple existing flowing taxes which are levied by both the central and the state government, GST replaces all of these indirect taxes with a federated tax reshaping the 2.6 trillion dollar economy of the country. Now here are7 things that you must have a knowledge about when it comes to GST- Input tax credit Since GST has a feature of matching ...
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money on car

Why lower IDV is not the best option for your motor insurance?

What is IDV? IDV stands for that maximum sum which is insured, the amount of which is agreed upon by the insurance provider that will be then reimbursed to the policyholder in cases of loss being either partial or complete. These losses can be either in the cases of theft or accidents or etc. thus the IDV is basically the current market value of your automobile that is insured. The full form of IDV is Insured Dealer value and is a vital aspect when it comes to the determination of the comprehensive car insurance cover premium. Now the value ...
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Tax deduction

Tax Terms you must Know

As a responsible citizen of the country, it becomes the sole purpose of every single person to pay for the taxes that they are obliged to. But when it comes paying taxes people who are new to this may find a hard time dealing with some of those complicated tax terms. But don’t worry! We have got it covered. Here is a list of some of the important tax terms that you should know if you are paying taxes! Gross Income Gross income is defined as the total amount of income which is there before the deductions and taxes. There are various ...
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accounting asset

What are Assets and Liabilities?

An asset can be defined as something which carries some value which can be converted in the form of cash.  Assets are usually owned by either a single person or an entire company. Governments too own assets in different forms. Assets are used to generate profitable revenue and are beneficial in some way or the other.  Assets are generally of two types which are personal assets and business assets. In simple words, assets are basically anything and everything which can be tangible or intangible and which are owned or sometimes controlled ...
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Economy

A Study on Demonetization in India

The demonetization in India has a long history. It has taken place for three times now and every time it came with a purpose to get a curb over the circulation of the forged note in the Indian economy. This in turn would not only help remove the black money but also fight back corruption and also the practice of prevent the funding to the terrorist activities. Although the results of demonetization have been a mix of both advantages and disadvantages which we will find out below. History of demonetization The first one dates back to 1946 ...
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Tax deduction

Tax deductions that went away this year

Tax deduction is basically a type of reduction in the value of income which can be taxed. Being a result of all the expenditure, tax deductions are meant to reduce the taxable income by subtracting the tax credits from your own taxes. Now there are a lot many tax deductions that went away this year. Here is a list of some of these. 1. Bicycle Deduction Earlier the employees were reimbursed for tax free bicycle commuting expenses. Also the employer had the power to make a deduction if they offered the benefit. But now since the TCJA ...
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