Tax Archive

Understanding Infosys Finacle Core Banking System

What is Infosys Finacle? Finacle is a banking solution built by the Indian Corporation, Infosys to provide core banking solutions and promote a growth of the e-banking facilities. It was first launched in the year 1999. It was used for the very first time by the State Bank of India to bring an overall change in its structure of E-Banking. It was built under the …

Jim Rogers and his Wise Investment Tips!

Many of us think that earning money in the stock market is an easy task. Many amateur investors come into this business, keeping in mind that they will earn a huge amount of money by doing nothing but investing in a company or industry. But eventually most of them understand it very well that the stock market is not their cup of tea. There are …

Mutual Fund Taxation

There is no doubt that mutual funds have become sort of a commodity in this ever growing market of investments and finance. With investments beginning from as low as Rs. 500/-, mutual funds are getting huge attention of institutional as well as retail investors and the corpus is growing everyday. Mutual funds do not need a large initial investment. Also, if you shop sensibly, you …

Latest Rule for Income Tax Filing in India

Everybody is aware of Income Tax; it is a central part of the revenue generation system of the Indian government. Amongst the huge number of taxes present in the system in India, income tax is the one which deals with the taxation of the monthly earnings, though it is calculated on an annual basis of every individual, business and corporate and other establishment in a …

What is Bankruptcy?

Bankruptcy is a legal status that works like a crash helmet for individuals/businesses that have a difficulty in serving their debt. It involves consumers and businesses to repay some or all outstanding debts to creditors under the protection of the federal bankruptcy court. Bankruptcy is the way of clearing debts which you can’t pay. If you can provide evidence that you are entitled to it …

What is Short Term Capital Gain Tax?

In our previous post about Long Term Capital Gain Tax, we have thoroughly explained about what capital gains and capital assets. In this article, we will explore about Short Term Capital Gain Tax. Short term capital gain is Capital gain or profit that is earned by an individual in lieu of the sale or exchange of a short term capital asset. Usually short term capital assets …

How Does Depreciation Work?

When it comes to fixed assets, such as machinery, furniture, etc., every business entity not only wants to accumulate the best, but also seeks to take the maximum benefit from them. Apart from meeting the usual demand of production and supply, these fixed assets also give a much necessary benefit of depreciation. Depreciation is the process which allows the small business owners to reduce or …

Alternative Minimum Tax (AMT)

An alternative minimum tax (AMT) is a parallel tax system that operates along with the regular income tax by adding certain items that are tax-free back into adjusted gross income and disallowing many deductions under the regular tax system. It provides an alternative set of rules that is used to calculate your taxable income after allowed deductions. AMT is compulsory at a nearly flat rate …