BLOG FROM RAKESH KUMAR JHA

As we reported last month, Google is uniting all of its different payment tools under the Google Pay brand. On Android, however, the Android Pay app stuck with its existing brand. That’s changing today, though, with the launch of Google Pay for Android. With this, Google is rolling out an update to Android Pay and introducing some new functionality that the company hopes will make its payment service ubiquitous — both in stores and on the internet. In addition, Google is also launching a redesign of the Google Wallet app for sending and requesting money, and it’s now called Google Pay Send. Users in the U.S. and U.K., though, will also soon be able to use the Google Pay app for sending and requesting money. New users can download the Google Pay app today and existing Android Pay users will get updated over the course of the next few days. At first glance, the new Google Pay app is basically a redesign of Android Pay, with a look and feel that adheres closer to Goo...

Dear Taxpayer’s,  We are heading toward a new financial year 2017-18. Here are the most important points you must know being a Income tax payer regarding the slab rate in order to assess the tax liability as an individual or a firm and the important dates (filing of tax return, payment of TDS/TCS, service tax , VAT, Advance Income Tax)   Income Tax Slab Rate:  Income tax slab rates are for different classes of taxpayers, who are taxed progressively more according to their earning. The income tax slab rates can be classified into the following categories: 1.  Income Tax Slab for Individual & HUF ( age less than 60 years old) Income Slab Tax Rate Income up to Rs. 2,50,000* No Tax Income from Rs. 2,50,000 – Rs. 5,00,000 5% Income from Rs. 5,00,000 – 10,00,000 20% Income more than Rs. 10,00,000 30% Surcharge: 10% of income tax, where total income is between Rs. 50 lakhs and Rs.1 crore. 15% of income tax, where total income exceeds Rs. 1 crore. ...

Arun Jaitley did not tinker with the income tax slabs nor did he raise the exemption limit in Budget 2018, but there were a few proposals that will have an impact on how much taxes you will end up paying. Here are 10 income tax changes that will come into effect from April 1, 2018, once the Finance Bill is passed by the Parliament. Re-introduction of standard deduction In a relief to the salaried class, the FM has re-introduced standard deduction of Rs 40,000 from salary income. Apart from salaried class, even pensioners will be allowed to avail the benefit of this deduction. Central Board of Direct Taxes (CBDT) Chief Sushil Chandra has clarified that to avail this tax benefit one would not be required to submit any proofs or bills, it can be claimed straightaway. Transport allowance and medical reimbursements to become taxable While standard deduction has been reintroduced, the tax benefit available on transport allowance and medical reimbursements has been taken away. C...

Credit and debit cards are the most common means of making digital or electronic transactions. Digital mode of payments has changed the financial transaction landscape in India. The implementation of demonetisation in 2016 prompted a massive surge in digital transactions. Long queues to make utility bill payments is a thing of a past now with digital payments taking over for both small and big transactions. What really makes digital payment popular is the convenience and availability associated with it. However, not many are aware that this convenience comes at a cost. Let us take a look at various fees and charges levied while using digital payments. Credit and debit cards Credit and debit cards are the most common means of making digital or electronic transactions. They are widely used for utility bill payment, ticket booking or online shopping. For debit card, banks charge an annual issuance fee though there are a few debit cards which are free. If you are using a credi...

Web-based learning tools can help deepen science knowledge among struggling pupils, and ease the science literacy gap for underachieving students, according to a study published today. Researchers at University of Oregon in the US introduced four interactive online science units, which students and teachers accessed with computers or tablets, into 13 middle schools in two US states. The online units were tested in a randomised, controlled trial with over 2,300 students and 71 teachers. While all participating students improved their science knowledge, the results were particularly notable for less able students. Students with learning disabilities improved 18 percentage points on assessments of science knowledge from pre-test to post-test, and English language learners increased 15 percentage points. Pupils taught the same content with traditional methods, such as textbooks, showed only 5-point gains. The results published in the International Journal of Science Education are especia...