ADVANTAGES OF E FILING OF TAX RETURN

1. ACCURACY: By using e-filing, the chance of error goes down to about 1%. Income tax returns can be filed with the help of various tax preparation softwares available.

2. SECURITY: Tax returns processed electronically are processed over secured and encrypted lines.

3. PAPERLESS

4. COMPLETENESS: The online tax preparation software will let you know if your tax return is missing any information.

5. RECEIPT ACKNOWLEDGEMENT; Upon completing and submitting your income tax return, your service provider will send you a receipt acknowledgement confirmation.

6. FASTER REFUND; By efiling your tax return, you will receive your income tax refund faster. The time involved in refund […] Read more

CONSEQUENCES OF RUPEE DEGRADATION

1. INVESTMENTS: Profits of companies with high foreign currency debt and imported inputs may fall, resulting loss to all stakeholders.

2. IMPORTED ITEMS: Fuel and other key imports become costlier and it will lead to high prices i.e. inflation.

3. FOREIGN TRAVEL: Travelling abroad may become expensive and it is bad news for tour operators or travel agencies.

4. EDUCATION ABROAD: Students will have to spend more on tuition and stay. This will increase loan burden.

These are the few consequences of rupee degradation according to common people.

Views and comments regarding more consequences are welcome.

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MUTUAL FUNDS INDUSTRY RISING DESPITE SLUMP

Despite decline in overall assets managed by Indian Mutual Fund Industry, it is growing. The loss of investor confidence is only a temporary phenomenon for mutual fund industry and it expects to win over its lost investors gradually with the recovery of Indian economy and equity markets.

Due to this confidence only mutual fund industry is launching new schemes, despite the fact that the existing and well established schemes are finding it difficult to sell.

Till now in this financial year 5 equity schemes have been launched which is almost double of what was launched in last year in this […] Read more

RUPEE HITS LOWEST POINT IN LIFETIME

Today rupee hits its lifetime low of Rs.56.53 per dollar. Its previous record was Rs 56.52 per dollar on 31 May,2012.
Today global markets are weakened after the Fed extended its current bond buying programme by less than some investors had hoped.

The rupee remain vulnerable to any flare-ups of global risk aversion along with domestic challenges.

The RBI disappointed domestic markets by keeping interest rates on hold on Monday. Fitch Ratings cut the country’s outlook to negative on Monday only. Earlier S&P also decreased the India’s investment grade rating.

[…] Read more

REASONS OF FALLING VALUE OF RUPEE

Yesterday Indian rupee fell to 56 per dollar, a day after the central bank disappointed domestic markets by keeping monetary policy unchanged. India is witnessing a fall all round, from stock market to currency value. Only inflation is increasing.

The crude oil has shown some weakness recently but the depreciating rupee has squared off the benefit of price easing.
Following are the few reasons why value of Rupee is Depreciating:

1. INFLATION: Generally, a country with consistently lower inflation rate exhibits rising currency value, but India is facing consistently higher inflation rate so is the lower currency value. Through higher inflation […] Read more