Section 76 – Arbitration And Conciliation Act, 1996
Termination of conciliation proceeding
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July 2024
ppf calculator
The first step towards wealth management is accumulating savings. You will find a lot of options for savings accounts; however, look for the ones that guarantee substantial returns risk-free. PPF accounts are one of the most common features which come into the picture. PPF account refers to Public Provident fund account and is meant to invest your valuable capital. If you are a new employee or a responsible parent who wishes to save for the future, then PPF is ideal for you. Calculating the interest rates and returns on your PPF account turns a bit difficult. To make these difficult calculations easy, PPF account calculator can be used. What is a PPF calculator? A Public Provident Fund (PPF) calculator is an online long-term investment tool designed to help investors calculate the potential returns and growth of their investments in a PPF account. It considers various factors such as the contribution amount, interest rate, and investment duration to estimate the maturity amount and the interest earned over a period. If you are someone who is planning to invest in PPF and not sure how much to invest or how much returns you may get on investing a certain amount, our PPF calculator is here for you. By using a PPF calculator, you gain a clear understanding of the future value of their PPF investments, make informed financial decisions, and effectively plan their savings. Once you decide the amount you can afford to invest on a regular basis, the calculator considers the tenure to be 15 years and the prevalent interest rate to calculate the returns. However, ensure that you make your PPF investments before the 5th of the month, or else you will not receive the interest for that month. This is because the PPF interest is calculated on the lowest balance between the close of the 5th day and the last day of every month. Thus, a PPF contribution made on the 5th of a month will be taken into consideration for interest calcultion and will earn interest for that month, while any PPF contribution made after the 5th of the month will not earn interest and result in a loss of interest for that month. Why use a PPF calculator? Plan your investments: It helps you visualise how your PPF grows, thus helping you plan your contributions to reach desired financial goals, which could be building a retirement corpus, children’s education, marriage, etc. Compare investment options: You can compare PPF returns with other options, such as bank deposits, helping you make informed financial decisions. Maximise your contributions: It will help you effectively utilise the full Rs.1.5 lakh annual limit by understanding how different contribution frequencies impact returns. Track your progress: You can monitor your PPF’s growth over a period, keeping you motivated enough to remain on track to meet your financial goals. Formula used for calculating PPF A PPF calculator uses a similar formula that’s used for calculating the future of an annuity. Simply put, it calculates the future value of your investment, depending on the annual contribution you make towards the PPF and the prevailing interest rate. The calculation formula that a PPF calculator uses is as follows: M = P [ ( { (1 + i) ^ n } – 1 ) / i ] In which: M = Maturity benefit P = Annual installments i = Interest rate n = Number of years The part after the P in the formula is the annuity factor, which when multiplied with the annual contribution, provides the maturity value of the PPF investment. Illustration: Let’s say, you make annual contributions of Rs 1,00,000 for 15 years and the PPF account interest rate is 7.1%. By using the above-mentioned PPF calculation formula: M= Rs 1,00,000 [({(1+0.071)^15}-1)/i] = Rs 27,12,139 Advantages of using PPF calculator Assists in estimating the interest earned on a specific investment amount Provides an idea to figure out the maturity period of the investment The estimation provided is calculated on the total investment done in the current financial year Aids in tax-saving by providing a clear understanding of the interest earned on the total investment done Gives accurate results by entering the deposit amount and the deposit type FAQs How much interest rate can I get on my PPF account? The interest rate is mainly determined by the Central Government periodically. At present, the interest rate is 7.1% per annum. When is my investment going to mature? In PPF accounts, maturity can be attained after 15 years. After this period, you are liable to withdraw the entire amount.
Section 74 – Arbitration And Conciliation Act, 1996
Status and effect of settlement agreement
Section 74 – Arbitration And Conciliation Act, 1996 Read More »
Section 72- Arbitration And Conciliation Act, 1996
Suggestions by parties for settlement of dispute
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Adangal – Tamil Nadu
In a property transaction, adangal document plays an important role in establishing a clear property title to the seller. Adangal is maintained by the concerned Village Administrative Officer (VAO) and can be obtained by making an application. Adangal is a type of land record that is maintained by the Village Administrate Officer. Adangal is also known as Village account No.2. and is written each year by the Village Administrative Officer. The documents contain the following details: Patta lands Wet Dry Manavari Assessed wastelands Wet Dry Poramboke land It is the primary duty of the Village Administrative Officer to register in the adangal the details of crops raised in the land, trees standing on all government lands (whether under tree tax system or not) cases of unauthorized occupation of Government lands, cases of Fasli Jasthi and Theervai Jasthi, etc. The Village Administrative Officer (VAO) should do the recording of crops every month. Hence, the adangal provides a timeline of ownership and use of property making it invaluable in establishing a property title. What is Adangal? Adangal contains various important details like the Survey Number of the property, extent, assessment and land classification which is taken from A register. Further, the name of the landowner is also mentioned in the adangal with reference to the Chitta document. Finally, the document contains details of trees, wells, lands reserved for Scheduled Castes or Scheduled Tribes, assignments made with or without conditions. However, the details in adangal should be drawn up every year and the figures (extent and assessment) classification wise should tally with those noted in ‘A’ Register. FAQs Why is Adangal important? Adangal serves as an official record for various agricultural and land-related activities. It is used for verifying land ownership, crop details, and land usage. It is essential for farmers seeking loans, subsidies, and other government benefits. How can I obtain a copy of my Adangal? You can obtain a copy of your Adangal from the Village Administrative Officer (VAO) of your village. Alternatively, you can access it online through the Tamil Nadu e-Governance portal by entering your land details.
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Rajasthan Farmers Debt Waiver Scheme
Rajasthan Krishak Rin Mafi Yojana, 2019 was announced through State Government Order No. P.17(15)/Co/2018/ dated 19.12.2018. In the same sequence, Rajasthan Krishak Rin Mafi Yojana 2019 was issued by the Co-operative Department through letter No. P.17(15)/Co/2018/Part Jaipur, dated 06.02.2019.According to the scheme, there is a provision to waive the principal amount of all crop loans outstanding as on 30 November 2018 in overdue loan cases and to waive all principal, interest and penalty outstanding as on 30 November 2018 in overdue loan cases.Till 13.09.2019, data of 53,673 farmers has been uploaded on the portal. Out of these, 50,352 members have got their Aadhaar authenticated and loan waiver certificates of 46177 members have been issued on the portal. The loan waiver amount of total 53,673 members uploaded on the portal is Rs. 348.81 crores. Objectives To support small and marginal farmers who are in the most vulnerable sections of our society To waive off overdue loans for small farmers Allocation of Rs.8000 crores to implement the scheme Allocation of Rs.384 crores as subsidy To offer interest-free loans of up to Rs.500 crores. Eligibility To be eligible for the debt waiver scheme, an application needs to be filed if a farmer meets the following requirements: Loan amount should be less than Rs.2 lakh rupees Owns less than two hectares of land Aadhaar card linked to Bhamashah card For those who are not eligible as per the above terms can also apply for a loan waiver provided, they meet the requirements for the loan waiver when they were under the previous government. All short-term crop loans will be waived off as long as the loans were granted by cooperative banks to small and marginal farmers. Loan Waiver Certificate Over 29 lakh small scale farmers will be eligible for the loan waiver certificate. The distributed certificates will offer a total of Rs.8000 crores as waivers with a maximum waiver of Rs.2 lakh per farmer. The loan certificate will also make new loan recipients eligible for an insurance cover of up to Rs.10 lakhs under the Raj Sahakar Personal Accident Insurance Scheme. If the outstanding loan amount of a loan exceeds Rs.2 lakhs, farmers will have to repay the balance amount (after deduction of Rs.2 lakhs) before receiving further loans with insurance coverage. Application Process To apply for a loan waiver certificate (or to collect more information), eligible farmers can head to the nearest branch of Village Service Cooperative Society or District Central Cooperative Bank. Alternatively, farmers can head to https://sso.rajasthan.gov.in/register to register with their Aadhaar Card and Bhamashah Card details. After successful registration, the application process can be monitored at http://lwa.rajasthan.gov.in/Search.aspx by simply entering the Aadhaar Number of Bhamashah Number. Upon successful registration, farmers can collect their certificates from the nearest Village Service Cooperative Society or District Central Cooperative Bank. Head to the official website Click on Login Click on Registration Once you put in your name with Aadhaar and Bhamashah Card details, you will be taken to the next page. In the new page, enter your Bank Details including Bank Name, Branch Name, PACS Name. Registration is now complete. Application status and the list of eligible farmers can be checked from the portal. An online list will also be listed on the website, but the date of the announcement for new applicants has not been revealed yet. FAQs What is the Rajasthan Kisan Loan Waiver Scheme 2019? The Rajasthan Kisan Loan Waiver Scheme 2019 is a government initiative aimed at providing financial relief to farmers by waiving off their outstanding agricultural loans. This scheme was introduced to alleviate the debt burden on farmers and support their financial stability. What types of loans are covered under this scheme? The scheme covers both short-term crop loans and medium-term (conversion) loans taken by farmers for agricultural purposes. Loans taken from cooperative banks, regional rural banks, and nationalized banks are included in the waiver.
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HSN Code and GST Rate for Medicines and Pharmaceuticals
GST rates and HSN code for Pharmaceutical Goods. HSN Code Description Rate (%) CESS (%) Effective Date Rate Revision 3006 Pharmaceutical Goods Specified In Note 4 To This Chapter 5/12 0 13/10/2017 1/07/2017 5% 12% 300610 Sterile Surgical Catgut, Similar Sterile Suture Materials (Including Sterile Absorbable Surgical Or Dental Yarns) And Sterile Tissue Adhesives For Surgical Wound Closure; Sterile Laminaria And Sterile Laminaria Tents; Sterile Absorbable Surgical Or Dental Haemostatics; Sterile Surgical Or Dental Adhesion Barriers, Whether Or Not Absorbable 5/12 0 13/10/2017 1/07/2017 5% 12% 30061010 Pharmaceutical Goods Specified In Note 4 To This Chapter Sterile Surgical Catgut, Similar Sterile Suture Materials (Including Sterile Absorbabale Surgical Or Dental Yarns)And Sterile Tissue Adhesives For Surgical Wound Closure; Sterile Laminaria And Steri 5/12 0 13/10/2017 1/07/2017 5% 12% 30061020 Pharmaceutical Goods Specified In Note 4 To This Chapter Sterile Surgical Catgut, Similar Sterile Suture Materials (Including Sterile Absorbabale Surgical Or Dental Yarns)And Sterile Tissue Adhesives For Surgical Wound Closure; Sterile Laminaria And Steri 5/12 0 13/10/2017 1/07/2017 5% 12% 30062000 Pharmaceutical Goods Specified In Note 4 To This Chapter Blood Grouping Reagents 5/12 0 13/10/2017 1/07/2017 5% 12% 30063000 Pharmaceutical Goods Specified In Note 4 To This Chapter Opacifying Preprations For X-Ray Examinations; Diagnostic Reagents Designed To Be Administered To The Patient 5/12 0 13/10/2017 1/07/2017 5% 12% 30064000 Pharmaceutical Goods Specified In Note 4 To This Chapter Dental Cements And Other Dental Fillings;Bone Reconstruction Cements 5/12 0 13/10/2017 1/07/2017 5% 12% 30065000 Pharmaceutical Goods Specified In Note 4 To This Chapter First-Aid Boxes And Kits 5/12 0 13/10/2017 1/07/2017 5% 12% 300660 Chemical Contraceptive Preparations Based On Hormones, On Other Products Of Heading 2937 Or On Spermicides 5/12 0 13/10/2017 1/07/2017 5% 12% 30066010 Pharmaceutical Goods Specified In Note 4 To This Chapter Chemical Contraceptive Preparations Based On Hormones, Or Other Products Of Heading 2937 Or On Spermicides :Based On Hormones 5/12 0 13/10/2017 1/07/2017 5% 12% 30066020 Pharmaceutical Goods Specified In Note 4 To This Chapter Chemical Contraceptive Preparations Based On Hormones, Or Other Products Of Heading 2937 Or On Spermicides :Based On Other Products Of Heading 2937 5/12 0 13/10/2017 1/07/2017 5% 12% 30066030 Pharmaceutical Goods Specified In Note 4 To This Chapter Chemical Contraceptive Preparations Based On Hormones, Or Other Products Of Heading 2937 Or On Spermicides :Based On Spermicides 5/12 0 13/10/2017 1/07/2017 5% 12% 30067000 Pharmaceutical Goods Specified In Note 4 To This Chapter Gel Preparations Designed To Be Used In Human Or Veterinary Medicine As A Lubricant For Parts Of The Body For Surgical Operations Or Physical Examinations Or As A Coupling Agent Between The Body And 5/12 0 13/10/2017 1/07/2017 5% 12% 30068000 Pharmaceutical Goods Specified In Note 4 To This Chapter Waste Pharmaceuticals 5/12 0 13/10/2017 1/07/2017 5% 12% 30069100 Aplliances Identified For Osotomy Use 5/12 0 13/10/2017 1/07/2017 5% 12% 30069200 Waste Pharmaceuticals 5/12 0 13/10/2017 1/07/2017 5% 12%
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TDS Rate Chart for Financial Year 2024-2025 (Assessment Year 2025-2026)
he TDS rate on income depends on the salary of an individual and based on that it ranges between 10% to 30%. The TDS rates to be applicable on income for the current year is updated in the TDS rates for FY 2024-25. TDS stands for Tax Deducted at Source. It is an indirect way of collecting income tax at source by the government of India. The person on whom the responsibility of deducting tax is imposed has to deduct tax at source at appropriate rates and the deducted sum is deposited to the credit of government of India. TDS Rates in India TDS Rate Charts for the FY 2023-24 and FY 2024-25 Section Deductee* Nature of transaction Threshold Limit (Rs) TDS Rate 192 R, NR Payment of salary Basic exemption limit of employee Normal Slab Rates 192A R, NR Premature withdrawal from EPF 50,000 10% Budget 2023: TDS rate for EPF withdrawals without a PAN number is now 20%, from the previous maximum marginal rate 193 R Interest on securities Debentures- 5,000 8% Savings (Taxable) Bonds 2003 or 7.75% Savings (Taxable) Bonds 2018- 10,000 Other securities- No limit 10%Budget 2023: Exemption of TDS on interest from listed debentures has been removed. Therefore, tax has to be deducted on interest on such specified securities. 194 R Payment of any dividend 5,000 10% 194A R Interest from other than interest from securities (from deposits with banks/post office/co-operative society) Senior Citizens- 50,000 Others- 40,000 10% 194A R Interest from other than interest on securities u/s 193 and interest from banks/post office/co-operative society. For e.g., interest from friends and relatives 5,000 10% 194B R, NR, FC Income from lottery winnings, card games, crossword puzzles, and other games of any type Aggregate income from lottery winnings, card games, crossword puzzles etc- 10,000 Online Gamine- Refer 194BA 30% 194BA R, NR, FC Income from online games Nil 30% 194BB R, NR, FC Income from horse race winnings 10,000 Aggregate winnings during a financial year not single transaction 30% 194C R Payment to contractor/sub-contractor:- Single transaction- 30,000 Aggregate transactions- 1,00,000 a) Individuals/HUF 1% b) Other than Individuals/HUF 2% 194D R Insurance commission to: a) Domestic Companies 15,000 10% b) Other than companies 15,000 5% 194DA R Income from the insurance pay-out, while payment of any sum in respect of a life insurance policy. 1,00,000 5% 194E NR, FC Payment to non-resident sportsmen/sports association No limit 20% *This rate shall be increased by applicable surcharge and 4% cess 194EE R, NR Payment of amount standing to the credit of a person under National Savings Scheme (NSS) 2,500 10% 194F R, NR Payment for the repurchase of the unit by Unit Trust of India (UTI) or a Mutual Fund No limit 20% 194G R, NR, FC Payments, commission, etc., on the sale of lottery tickets 15,000 5% 194H R Commission or brokerage 15,000 5% 194-I R Rent: 194-I(a) Rent on plant and machinery 2,40,000 2% 194-I(b) Rent on land/building/furniture/fitting 2,40,000 10% 194-IA R Payment in consideration of transfer of certain immovable property other than agricultural land. 50,00,000 1% 194-IB R Rent payment by an individual or HUF not covered u/s. 194-I 50,000 per month 5% 194-IC R Payment under Joint Development Agreements (JDA) to Individual/HUF No limit 10 194J R Any sum paid by way of fee for professional services 30,000 10% 194J R Any sum paid by way of remuneration/fee/commission to a director 30,000 10% 194J R Any sum paid for not carrying out any activity concerning any business; 30,000 10% 194J R Any sum paid for not sharing any know-how, patent, copyright, etc. 30,000 10% 194J R Any sum paid as a fee for technical services 30,000 2% 194J R Any sum paid by way of royalty towards the sale or distribution, or exhibition of cinematographic films 30,000 2% 194J R Any sum paid as fees for technical services, but the payee is engaged in the business of operation of the call center. Prior to June 1, 2017, the rate was 10% 30,000 2% 194K R Payment of any income for units of a mutual fund, for example, dividend No limit 10% 194LA R Payment in respect of compensation on acquiring certain immovable property 2,50,000 10% 194LB NR, FC Payment of interest on infrastructure debt fund to Non-Resident No limit 5% *This rate shall be increased by applicable surcharge and 4% cess 194LC NR, FC Payment of interest for the loan borrowed in foreign currency by an Indian company or business trust against loan agreement or the issue of long-term bonds No limit 5% 194LC NR, FC Payment of interest for the loan borrowed in foreign currency by an Indian company or business trust against the issue of long-term bonds listed in IFSC No limit 4% 194LD NR, FC Payment of interest on bond (rupee-denominated) to FII or a QFI No limit 5% 194LBA(1) R Certain income distributed by a business trust to its unitholder No limit 10% 194LBA(2) NR, FC Interest income of a business trust from SPV distribution to its unitholders No limit 5% 194LBA(2) NR, FC Dividend income of a business trust from SPV, in which it holds the entire share capital exempt the capital held by the government, and distribution to its unitholders No limit 10% 194LBA(3) NR Rental income payment of assets owned by the business trust to the unitholders of such business trust No limit 30% 194LBA(3) FC Rental income payment of assets owned by the business trust to the unitholders of such business trust No limit 40% 194LBB R Certain income paid to a unitholder in respect of units of an investment fund No limit 10% 194LBB NR Certain income paid to a unitholder in respect of units of an investment fund No limit 30% 194LBB FC Certain income paid to a unitholder in respect of units of an investment fund No limit 40% 194LBC R Income from investment in securitisation fund received to an individual and HUF
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