Don’t let others fool you!! The gold used is considered goods and making charges or value addition is towards job work. Since the principal supply is the sale of gold, the GST rate of 3% shall be levied instead of 5% on the total value of jewellery, whether or not making charges is shown separately. [gold, gold jewellery, goods and services tax, gst, CBDT, taxation, indirect taxation, how much GST is charged on gold, making charges, CA Sakchi Jain] #gst #goodsandservicetax #gold #goldjewellery #taxation #makingcharges #jeweller #casakchijain #explorepage
There is no limit on how much gold jewellery you can keep at home, provided you can explain the source of income that allowed you to buy or invest in case of an Income tax investigation. However, there are also some limits on the amount of unaccounted gold jewellery that can be kept at home without any tax troubles. According to the Central Board of Direct Taxes (CBDT), the limits for holding gold jewellery and ornaments without showing any proof are: * Married woman: Up to 500 grams of gold * Unmarried woman: 250 grams of gold * Men: Only 100 grams of gold If the assessee has gold which is above this limit fails to provide an explanation or the explanation given is not satisfactory, then the same shall be taxable under section 69B at the rate specified in 115BBE of the Act. The rate specified is 60% plus a surcharge of 25% Plus an HEC of 4% and a penalty of 10% on such tax (which amounts to 78%) [gold, gold jewellery, income tax, incometax department, Center board of directors taxes, penalty, taxes, investment, CA Sakchi jain, income tax raid, income tax officer] #gold #goldjewellery #incometax #incometaxdepartment #raid #casakchijain
It’s been about six months since I started creating content on Instagram! This journey has been amazing and has taught me a lot of valuable lessons. I’m forever grateful for this experience. Along the way, I’ve had the chance to meet so many incredible people, and I’m grateful for the connections I’ve made through content creation. Recently, ICAI has recognized our work, and I’m thrilled to be among the top 40 Financial creators acknowledged by ICAI. It’s an honor to be called as one of the brand ambassadors of ICAI. When I began this journey, I wasn’t sure where it would lead me, but I’m enjoying every moment of it. My advice to anyone starting out or feeling hesitant to take the first step is simple: Just go for it. Taking that step will definitely be worth it. [ journey, content creation, Instagram, lessons, grateful, connections, ICAI, recognition, top 40, financial creators, brand ambassadors, starting out, hesitant, worth the wait, CA Sakchi Jain ] #journey #contentcreation #Instagram #lessons #grateful #connections #ICAI #recognition #top40 #financialcreators #brandambassadors #startingout #hesitant #worthit
This is how I spent my day in Mumbai!🤍 This time, Mumbai was all about exciting conversations and moments. First, I shared my thoughts on how content creation is reshaping careers—it’s amazing how this space is evolving! Then, there was lunch and some shopping, because who skips that in Mumbai? Later, I attended an award show, and let me tell you, the gratitude is real! Somewhere in between, I met some adorable furry friends (cats and dogs truly have my heart). Then we strolled at Marine Drive—it was just so calming And before I knew it, I was back at the airport for an early morning flight, carrying all these memories and so much inspiration. Thank you for the love, always!
This is how I spent my day in Mumbai!🤍 This time, Mumbai was all about exciting conversations and moments. First, I shared my thoughts on how content creation is reshaping careers—it’s amazing how this space is evolving! Then, there was lunch and some shopping, because who skips that in Mumbai? Later, I attended an award show, and let me tell you, the gratitude is real! Somewhere in between, I met some adorable furry friends (cats and dogs truly have my heart). Then we strolled at Marine Drive—it was just so calming And before I knew it, I was back at the airport for an early morning flight, carrying all these memories and so much inspiration. Thank you for the love, always!
Don’t forget to dematerialise your share! Last date for dematerialisation of shares of private companies is September 2024 The dematerialisation process takes around 2-3 weeks. A demat account holds your shares in a secure manner. This means there is no danger of theft or fraud or even damage of shares when you hold it in a physical format. [demat account, dematerialisation of shares, how to dematerialise share, should be dematerialise share, share of a company, what is dematerialisation?, Last date of dematerialisation, CA sakchi jain, stock market] #dematerialise #demat #dematerialisation #stockmarket #casakchijain #companyshare #stocks #shareprice
Don’t miss this video if you have small business!! Note- Budget 2023 increased the threshold u/s 44AD to Rs 3 crores from Rs 2 crores, provided the cash receipts should be less than 5%. Individual assessees, Hindu Undivided Families, and partnerships who are Indian residents can claim deductions under Section 44AD. Although you’re not required to maintain books of accounts under section 44AD, but it is advisable that you should at least maintain a cashbook so that you have a track of all the transactions. Also, in case the gross receipts exceed 40 lakhs then he also need to take GST registration. But if you opt for a presumptive scheme, you should continue it for for 5 years and if you want to opt-out, you’ll be barred from resuming with the presumptive scheme for a period of 5 years. [Income tax, presumptive taxation, section 44 AD, small business, taxation for small business, individual, 31st March, Indian resident, Business income, CA Sakchi jain] #presumptivetaxation #section44ad #incometax
Don’t pay any charges!! A savings or current account is categorized as ‘inoperative’ or ‘dormant’ if there have been no transactions in the account for more than two years. In order to reactivate your bank account, you need to visit the bank and update your KYC details. Although the bank cannot charge anything for reactivation. [reactivation of bank account, saving account, current account, inoperative account, demat account, kyc details, bank account, CA Sakchi Jain] #bankaccount #casakchijain #kyc #inoperativeaccount #account #casakchijain
Pay zero tax!😱 The benefit of section 44ADA can be taken only by those specified professionals whose annual gross receipts are under Rs 50 lakh. The limit is increased to INR 75 lakhs if the total amount received in cash does not exceed 5 percent of the total gross receipts of such previous year. Professionals engaged in the following professions are eligible: 📌Interior decorations 📌Technical consulting 📌Engineering 📌Accounting 📌Legal 📌Medical 📌Architecture 📌Other professionals, as mentioned below: 1.Movie artists include producers, editors, actors, directors, music directors, art directors, dance directors, cameramen, singers, lyricists, story writers, screenplay or dialogue writers and costume designers 2.Authorised representative means a person who represents another person for a fee before a tribunal or any authority constituted under any law. It does not include an employee of the person so represented or a person who is carrying on the profession of accountancy 📌Any other notified professionals [Income tax, income tax paid by professionals, Professional gross receipt, how to save tax for Professional, 31st March, TAX planning, tax saving hacks, CA sakchi jain, taxation, central board of direct taxes, notified professionals] #taxation #incometax #casakchijain #professionals #taxsaving #explorepage
This women’s Day gift yourself a term insurance! It has become a crucial investment as it ensures a safe and protected financial future for you and your loved ones. When an insured person unexpectedly passes away, a term plan provides insurance coverage to the policy’s nominee or beneficiary. Moreover, if you take a term insurance before 31st March, you can also claim a deduction of up to 1,50,000 under section 80 C [Term insurance, term insurance for women, what is the need of term insurance, should we buy term insurance, women’s Day, Policy Bazar, CA Sakchi jain] #terminsurance #insurqnce #womensday #policybazar #casakchijain #collab #ad
Here’s to what you get through your Kotak 811 Current Account: – Zero balance Current A/c – Interest of up to 7%* p.a. on your account balance with ActivMoney – Same-day business settlements – Easy to open with just your Aadhaar and PAN card Visit the link in my bio to learn more and open a Kotak811 Current Account today! #Kotak811 #CurrentAccount #UPI #ZeroBalance #Interest #PaymentSettlement #AadhaarCard #pancard #ad #collab
Save ₹60,000/- in taxes!💰 Tax planning season is here! These deductions are applicable only if you opt for the old tax regime. Section 80C is one of the most popular sections of the Income Tax Act.The maximum deduction under the section is Rs. 1,50,000. Section 80D provides deductions for the premium paid towards the health insurance of self, spouse children, and dependent parents as well. Note: While calculating the deduction under section 80D we have assumed that the age of the tax payer is less tha 60 years, therefore we have taken Rs. 25,000 as the deduction. Taxpayers can save tax under section 80C as well as 80CCD by investment in NPS. Under section 80C, maximum investment in NPS up to Rs. 1,50000 is eligible for a deduction in any financial year. Section 80CCD provides for an additional deduction of up to Rs. 50,000 provided the taxpayer meets all the eligibility criteria set in this regard. [Income tax department,tax, how to save income tax, old tax regime, deductions under income tax, central board of direct taxes, tax saving investment, CA Sakchi jain, income tax filing, new tax regime] #casakchijain #incometax #cbdt #taxsaving #incometaxdepartment #investing #return #deductions
Share this video with a upcoming Chartered Accountant! Free Trial! If you are a CA Foundation student and confused about where to take classes, you can attend the free trial batch of Unacademy and then make your decision. You can enroll for the 7-day free trial from the link in my bio, and registrations are open until April 17th. @unacademyca [Ca Foundation, CA students, chartered accountants, Unacademy, coaching classes, tuition classes, doubts of Ca Foundation students, first attempt, CA Exams, Free trial, CA Sakchi Jain] #casakchijain #ca #castudents #charteredaccountants #unacademy #freetrial #collab #ad
Don’t forget to take this! In a cashless claim process, you can get your claim settled without having to pay anything from your pocket. Under this process, the insured car should get repaired in an authorized network garage of the insurance company. Once the repairs are done, the insurer will directly pay the claim amount to the network garage and your claim will be settled. While under Reimbursement Claim Settlement In case you get your car repaired at a garage that is not authorized by the insurance company, you can claim your repairs under the reimbursement claim process. In the reimbursement claim process, you need to bear all the expenses initially from your pocket, which can pose a financial burden on you.. Therefore A cashless car claim process is a better option than a reimbursement claim process. It is not only simple but also more convenient than a reimbursement claim settlement. [What is car insurance ,cashless claim, Reimbursement claim, settlement, car, repair, accident, which insurance should we take, Insurance companies, what to take care before buying a car insurance, CA Sakchi Jain] #carinsurance #insurance #cashlessclaim #repair #caraccident #insurancecompanies #casakchijain #reimbursment #car #casakchijain
Don’t forget to do these things before 31st March 1. Invest in tax-saving instruments for FY 2023-24. If you have opted for the old tax regime there are plenty of tax-saving instruments under Section 80C, such as Public Provident Fund (PPF), Equity-linked Saving Schemes (ELSS), and term deposits that can help you achieve your tax-saving goals. 2. Update your KYC details before 31 March 2024. The National Highway Authority of India (NHAI) has extended the deadline for users to update their FASTag KYC details from February 29 to Mar 31, 2024. 3.The last date to file the Updated ITR for AY 2021-22 is 31st March 2024. You shouldn’t miss this last chance. Updated return allow individuals to rectify the mistakes they made while filing the ITR or to allow one more chance to file who miss the belated return deadline. 4. If you have invested in SSY or PPF, make your minimum investment of Rs.500 and Rs.250 for the year before 31 March 2024. If you fail to make this minimum deposit in a financial year, your account could be marked as default, for which a penalty may be levied. And also don’t forget to follow @ca.sakchijain for more such updates . [31 March 2024, year end, income tax, FASTag, KYC, government of India, central board of direct taxes, what are the things that we need to do before 31 March 2024, investments, tax saving investment, CA Sakchi jain] #casakchijain #march2024 #investment #incometax #government #taxsaving #taxes
Get discounts upto 25% on your car insurance! Pay as you Drive implies “usage-based” car insurance. It allows the insured person to pay for insurance based on the distance driven, rather than a flat fee. This means that those who drive their cars rarely will have to pay less premium amount with pay as you drive car insurance policy. One of the primary advantages of Switch on switch off car insurance is the potential cost savings. By turning off coverage during periods of inactivity, policyholders can reduce their insurance premiums significantly. It is crucial for policyholders to understand that the vehicle will not be insure during the switched-off period. Any damages, accidents, or theft occurs during this time will not be eligible for insurance claims. [Car insurance, motor insurance, pay as you drive car insurance, switch on switch off car insurance, our Insurance add on, CA sakchi jain, insurance coverage, insurance companies, motor vehicles] #carinsurance #insurance #motorvehicle #casakchijain #insurancecoverage
Invest in this right now! If you invest in health insurance before 31st March, you can also get a deduction of ₹75,000 under section for financial year 23-24. assuming your age is less than 60 and you’re also taking a health insurance for your parents whose age is above 60. Health insurance is a financial tool that provides financial coverage for medical expenses. [health insurance, hospitals, premium, policy bazaar, CA Sakchi Jain, insurance, should we purchase a health insurance, what is the use of health insurance] #casakchijain #policybazaar #policy #insurance #healthinsurance #collab #ad
Maximize your savings with ActivMoney, Open your Kotak811 Savings A/c now! *Earn up to 7% interest* on your savings account – one of the best returns in the market! ActivMoney offers FD-like interest of up to 7%* p.a. with the flexibility of a regular savings account. Easily access your money whenever you need it. #HighInterestSavings #SavingsGoals #Kotak811 #ActivMoney #ad #collab
Banks cannot deduct charges for non maintenance of minimum balance. RBI has said that banks cannot impose a penalty for not maintaining minimum balance on accounts that are inoperative. Accounts that have not recorded any transaction for over two years are declared as inoperative Under the new rules, banks have to inform customers through SMS, letters or email of their accounts turning inoperative. Banks have also been asked to reach out to the person who introduced the account holder or the account holder’s nominees in case the owner of an inoperative account does not respond. [Non-maintenance of minimum balance, inoperative account, account not used for two years, can the bank charge penalty for non-maintenance of minimum balance, bank account holder, nominee, bank account, CA Sakchi jain] #casakchijain #bankaccount #minimumbalance #inoperativeaccount #nominee
The right to vote is one of the most important duties of being a citizen! This 2024 Lok Sabha election will see a record number of youth that are eligible to vote. Therefore, I urge all people and especially the youth to get their voter ids and join in the process of celebrating the largest festival of democracy the world has seen! I congratulate @iimunofficial on its #Myfirstvote campaign and am happy to do my bit to amplify the need to vote! #myfirstvote #everyvotecounts #elections2024 #iimun
No more use of Insurance papers! Presently, the following four entities have been authorised to act as Insurance repositories: * NSDL Database Management Limited * Central Insurance Repository Limited * Karvy Insurance Repository Limited * CAMS Repository Services Limited Here are the benefits of an eIA: * No more physical policy documents * You can view and manage all your life insurance policies under a single account * All the changes in contact details get auto-updated in all your policies across all life insurers * Also opening eIA is free [what is einsurance account, how to open einsurance account, IRDAI, insurance policy, insurance in electronic form, insurance rule, Insurance Regulatory and Development Authority of India, CA Sakchi Jain] #irdai #insurance #einsurance #casakchijain #insurancepolicy
Don’t let social media trick you into spending money you don’t have! The constant comparison to others’ highlight reels can lead to impulsive purchases and financial stress. I used to feel the same pressure to keep up, but now I’ve found ways to escape the trap of overspending and focus on building real financial freedom. That’s what my new series, FOMO Free Finance, is all about—helping you break free from FOMO and take control of your money. Follow for more such insightful videos and practical tips to master your finances! [personal finance, gen z finance, finance for gen z, FOMO spending, money management, saving tips, stop overspending, social media spending habits, breaking FOMO, mindful spending, CA Sakchi Jain] #personalfinance #genzfinance #financeforgenz #fomospending #moneymanagement #savingtips #stopoverspending #socialmediaspending #breakingfomo #mindfulspending #casakchijain
Pocket Money: Then vs. Now—What’s Changed? Let’s talk about pocket money! Back in the day, people managed with just 50 paise a week—enough for a sweet treat or a small snack. Now, kids might get a few hundred rupees for things like coffee or gaming subscriptions. Times have changed, but the lessons pocket money teaches are still the same. Pocket money helps kids learn: 💡 How to budget their money. 💡 The importance of saving. 💡 How to spend wisely on what they really need. It’s not just about how much you give—it’s about how they use it. Whether it’s 50 paise or 500 rupees, pocket money can teach kids to be responsible with money and prepare them for real life. What do you think? How much pocket money should kids get today? Let me know in the comments! ⬇️ [importance of pocket money, pocket money lessons, budgeting tips for kids, teaching kids to save, financial literacy for children, how much pocket money to give, parenting tips, money management for kids, CA Sakchi Jain] #PocketMoney #ParentingTips #BudgetingForKids #FinancialLiteracy #MoneyLessons #FamilyTime #casakchijain
You cannot skip this! Term Insurance is the simplest and purest form of life insurance. When you start earning, one of the first thing you should do is take a life insurance! It provides financial protection to your family at the most affordable rates. With term insurance, you can get a large amount of life cover (i.e. sum assured) at a relatively low premium rate. The benefit amount is paid out to the nominee in case of the death of the person insured during the term of the policy. If you’re not sure about the cover, and do you even need a term insurance you can click on the link in my bio and take a test by Klarify life and you will get to know whether you need a term insurance or not. [do I need a term insurance, importance of term insurance, why do we need a term insurance, life insurance, types of Insurance, CA Sakchi Jain] #casakchijain #dinti #klarifylife #ad #collab
