Guide to Taxation and Legal Concern |Simplified Laws » Economy http://www.simplifiedlaws.com Simplified Laws is not just about tax Laws. but about ‘Laws of Life’. Sat, 12 Nov 2016 00:58:35 +0000 en-US hourly 1 What happens if I deposit cash my bank account? Is it subject to penalty at 200%http://www.simplifiedlaws.com/happens-deposit-cash-bank-account-subject-penalty-200/ http://www.simplifiedlaws.com/happens-deposit-cash-bank-account-subject-penalty-200/#comments Sat, 12 Nov 2016 00:56:59 +0000 http://www.simplifiedlaws.com/?p=6873 200% penalty on Cash Deposits over 2,50,000 is not 100% true You would have got a message (forward) about 200% penalty on cash deposits. Many people have called me to know the correctness of the penalty calculation! So, the question is Does all deposits over Rs.2.50 Lakhs in the account is subject to scrutiny and ...

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Understand Income Tax Provision before depositing Rs 500 and 1000 notehttp://www.simplifiedlaws.com/understand-income-tax-provision-before-depositing-rs-500-and-1000-note-2/ http://www.simplifiedlaws.com/understand-income-tax-provision-before-depositing-rs-500-and-1000-note-2/#comments Wed, 09 Nov 2016 07:23:58 +0000 http://www.simplifiedlaws.com/?p=6860 Ban on High Denomination Currency and Income-tax Act As the Government has declared that currency notes of Rs. 500 and Rs. 1,000 denominations will not be valid from midnight of November 8, 2016, citizens will have to surrender the old notes at any branch of a bank or post office. Citizens will have a time ...

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How black money is converted into white moneyhttp://www.simplifiedlaws.com/ways-to-convert-black-money-into-white-money/ http://www.simplifiedlaws.com/ways-to-convert-black-money-into-white-money/#comments Mon, 07 Nov 2016 12:24:20 +0000 http://www.simplifiedlaws.com/?p=4038 This article is in continuation to my previous articles on Black money. Can this government bring back the so-called ‘black money’ stashed abroad?  Can this government tighten the noose on black money offenders within the country?  Not sure. But the only silver lining in the latest development is that the SIT appointed by the Supreme ...

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Tax Changes wef 1st June 2016http://www.simplifiedlaws.com/tax-changes-w-e-f-1st-june-2016/ http://www.simplifiedlaws.com/tax-changes-w-e-f-1st-june-2016/#comments Tue, 31 May 2016 10:28:31 +0000 http://www.simplifiedlaws.com/?p=6557 Amendments in tax laws from 01-June-2016 [Changes proposed by Finance Act 2016] The Finance Act 2016 has proposed certain changes that come into effect from 01-June-2016. The changes are important as they may impact the way in which you transact with your customers / vendors & may require a modification to your billing system Changes in Indirect Taxes ...

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How fed rate hike will impact Indiahttp://www.simplifiedlaws.com/how-fed-rate-hike-will-impact-india/ http://www.simplifiedlaws.com/how-fed-rate-hike-will-impact-india/#comments Thu, 17 Dec 2015 01:17:32 +0000 http://www.simplifiedlaws.com/?p=4687 The US Federal Reserve on Wednesday hiked its benchmark interest rate by 0.25 basis points as widely expected. This is the first time in nearly a decade that the US central bank has raised rates. The Fed’s move was being closely watched globally because it impacts financial markets and commodities. US stock markets rallied after the Fed’s ...

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My recommendations to curb black money in India.http://www.simplifiedlaws.com/my-recommendations-to-curb-black-money-in-india/ http://www.simplifiedlaws.com/my-recommendations-to-curb-black-money-in-india/#comments Thu, 10 Sep 2015 00:44:42 +0000 http://www.simplifiedlaws.com/?p=4110 For the time being, let’s forget the recommendations done by SIT. I have some recommendations to make! If my recommendations are implemented, the government can block many black money generating avenues! Please read and comment whether my suggestions make sense or not! You may disagree with me, but it is alright. Let’s discuss. National portal ...

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What are the recommendations of SIT on curbing black money in India? Part 2http://www.simplifiedlaws.com/curbing-black-money-in-india-sit-recommendations/ http://www.simplifiedlaws.com/curbing-black-money-in-india-sit-recommendations/#comments Thu, 03 Sep 2015 12:37:05 +0000 http://www.simplifiedlaws.com/?p=4073 This is in continuation to my previous article ‘what are the recommendations of SIT on curbing black money? Part 1’ Misuse of exemption of Long Term Capital Gains Again, there is nothing new in the SIT report here. The rigging in stock market is not a new revelation. It’s been happening over the last 2 ...

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What are the recommendations of SIT on curbing black money in India? Part 1http://www.simplifiedlaws.com/recommendations-of-sit-curbing-black-money/ http://www.simplifiedlaws.com/recommendations-of-sit-curbing-black-money/#comments Mon, 31 Aug 2015 13:37:04 +0000 http://www.simplifiedlaws.com/?p=4049 Previous Article: How black money is converted into white money I want to begin this article with an analogy. Assume you hire the services of a doctor to find out the reasons for a ‘cold’. He comes out with a detailed 30-page document (after 6 months) listing out the reasons such as going out in the ...

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An end we aspirehttp://www.simplifiedlaws.com/an-end-we-aspire/ http://www.simplifiedlaws.com/an-end-we-aspire/#comments Wed, 29 Jul 2015 00:57:36 +0000 http://www.simplifiedlaws.com/?p=3742 Yes, it is a vague caption. Kindly read this article and suggest a better caption if you have one. We all will die one day or the other. But we are not aware of the ‘expiry date’! Let’s go through the type of deaths, its reasons and causes   Death by negligence – Speed the ...

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Tax Compliance for Undisclosed Foreign Income and Assetshttp://www.simplifiedlaws.com/tax-compliance-for-undisclosed-foreign-income-and-assets/ http://www.simplifiedlaws.com/tax-compliance-for-undisclosed-foreign-income-and-assets/#comments Mon, 06 Jul 2015 07:48:45 +0000 http://www.simplifiedlaws.com/?p=3495 The Finance Minister, in the budget speech this year, had announced that a comprehensive new law to deal with black money stashed away abroad would be enacted. The Bill to enact the proposed new law was passed by the Parliament in its Budget Session. The Bill received Presidential assent and became law on 26th May, ...

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