September 1, 2024

A Demat Account, also known as a Dematerialized Account, allows you to keep shares and assets electronically. Shares are purchased and stored in a Demat Account while online trading, making it easier for consumers to trade. A Demat Account consolidates an individual’s interests in stocks, government securities, exchange-traded funds, bonds, and mutual funds. what are depositories and depository participants (DPs)? Depositories are companies that store securities electronically and make transactions easier. National Securities Depository Limited (NSDL) and Central Depository Services Limited are the two depositories registered with SEBI (CDSL). Depositories and investors are represented by Depository Participants (DPs). The investor must go through a DP in order to use the services of a depository. A Demat account is the type of account you must have with a DP. Applicability of Demat account A Dematerialized (or Demat) account is an electronic account that holds securities instead of physical certificates. An investor must open a Demat account with a Depository Participant in order to purchase and sell securities on the Indian stock market (DP). Advantages of opening a Demat account Because investors don’t have to pay stamp duty, the transaction cost is substantially lower than in the physical market. Electronic settlements are convenient and quick. In the event of a securities transfer, there will be less paperwork. Physical certificate risks such as theft, non-delivery, and false certifications are no longer a concern. Investors can sell any number of shares they choose, even if it’s just one. Invest online Procedure to open a Demat account You can open a Demat account with a SEBI-registered depository participant (DP), . You must fill out the account opening form after receiving a copy of the terms of the agreement, rules and regulations, and applicable charges. When opening a Demat account, make sure to include a nominee. Submit all of the relevant document copies. Address evidence, identification proof, and your PAN card are the most important documents. After that, a member of the DP team will call you to complete an in-person verification. Your DP will provide you with your Demat account details once the verification is complete. A Demat account usually takes one to two weeks to open. When opening a Demat account, there is no requirement to maintain a minimum balance of shares. FAQs What is a Demat Account? A Demat account, short for “dematerialized account,” is an account used to hold securities and financial instruments in electronic form. It facilitates the trading of shares, bonds, mutual funds, and other securities without the need for physical certificates. Why do I need a Demat Account? You need a Demat account to hold and trade shares or other securities in electronic form. It is a convenient way to manage your investments as it eliminates the risks associated with physical certificates, such as theft, loss, or damage.

In India, youth folk’s entrepreneurship desires seem to be on the upswing. The main factor about this is that there are currently several more technology options throughout the nation and enabling transforming a business is incredibly easy. The main export items made in the region are hand-print fabrics, marble statuettes and enamel products. Jewelry, brass and lacquer products, wool carpets. Printed fabrics and clothing. All of these products are currently being exported, but still have huge export potential in the international market.  Choose a Business Structure: Decide on the legal structure of your business, such as a sole proprietorship, partnership, limited liability partnership (LLP), or private limited company. Register Your Business: Register your business with the Registrar of Companies (ROC) or the appropriate authority depending on the business structure. You may also need to register with the Rajasthan Shop and Establishment Act if applicable. Six types of business models Affiliate Marketing: Get a commission every time you promote and sell another company’s products and services online with this passive income idea. Freelance: Use your existing skills, such as advertising, writing, design, or programming, to provide services to other individuals and companies. Coaching and Consulting: Become a coach or consultant and sell your experience, advice and recommendations. Information Products: Packaged experiences in eBooks, worksheets, templates and online courses. Software as a Service: You create software or applications and charge users a subscription fee. E commerce: Use services to build websites and sell objects online. Business in Rajasthan Rajasthan is also renowned for its vibrant colors and traditional dance, passionate melodies, and ostentatious displays of culture and heritage, not just to this region, but rather to globally. As Jaipur famously known as pink city, it possesses all of the above qualities, but it might also provide more. It seems to be the home of centuries of artists and manufacturers for whom the fine craftsmanship and others have created a wide range of items on the global arena. Exports are important in the emergence of globalization since it affects the monetary recovery of any country by providing a stable position in the global market. With several options available, the sector, particularly the Industrial sector, plays a vital role in bringing foreign income into the nation. The region OF Rajasthan already has a lot of possibilities for earning foreign currency by selling its goods. The major benefit is the folk’s calm societal atmosphere and corporate structure, and also adequate roadway and train (metro train and airline) linkages to certain other provinces of the country. Further, strategic area, throughout part to whoever is the administrative headquarters, is a significant component of the town’s economic progress. This area boasts a healthy cow population and therefore a range of mineral wealth that can also be utilized for industrial development. Startup at Rajasthan have a favorable growth. Steps to start a business Step 1: Conduct market research Step 2: Moreover, Write your business idea Step 3: Further, fund your business Step 4: Meanwhile, pick a strategic locus for your business Step 5: Choose a legal structure for your business Step 6: Choose a brand name for your business and Register your business from your brand name Step 7: Moreover, Get your business tax Id and employer identification number. Step 8: Furthermore, apply for license and legal permit of business Step 9: Open a business bank account FAQs What are the benefits of setting up a business in Rajasthan? Ease of Doing Business: Rajasthan has made significant improvements in ease of doing business with streamlined processes and single-window clearances. Government Incentives: Various incentives and subsidies are available under state policies like the Rajasthan Investment Promotion Scheme (RIPS) to encourage investment in the state. Strategic Location: Rajasthan’s proximity to Delhi-NCR and access to major transportation routes provide strategic advantages for businesses. Skilled Workforce: The state has a growing pool of skilled and semi-skilled labor. What are the different types of business structures available in Rajasthan? Sole Proprietorship: A business owned and managed by one person. Partnership: A business owned and managed by two or more individuals with shared profits and liabilities. Limited Liability Partnership (LLP): A partnership with limited liability for the partners, protecting their personal assets. Private Limited Company: A separate legal entity with limited liability for its shareholders. Public Limited Company: A company that can offer shares to the public and is listed on a stock exchange.

SWP stands for systematic withdrawal plan. Under SWP, if you invest lump sum in a mutual fund, you can set an amount you’ll withdraw regularly and the frequency at which you’ll withdraw. For example, let’s say you invested in HDFC Top 200 Fund an amount of ₹1 lakh for a year. Let’s assume that you decided to withdraw an amount of ₹10000 per month. So every month, your investment in the fund will reduce by ₹10000. The amount left every month after withdrawal will continue to remain invested. What is SWP? The Systematic Withdrawal Plan or SWP offers investors a regular income and returns money that is left in the scheme. You may withdraw a fixed or a variable amount on a pre-decided date every month, quarter, or year. You may customise cash flows to withdraw, either a fixed amount or the capital gains on the investment. For example, you have 8,000 units in a mutual fund scheme. You have specified a set of instructions to the mutual fund house where you seek to withdraw Rs 5,000 every month through the Systematic Withdrawal Plan. On January 01, 2020, the NAV of the scheme was Rs 10. You would get an equivalent number of mutual fund units = Rs 5,000/10 = 500 units. The mutual fund house would redeem 500 units and give you an amount of Rs 5,000. You still have 7,500 units left in the mutual fund scheme. Now on February 01, 2020, the NAV of the mutual fund scheme increased to Rs 15. The equivalent units of the mutual fund scheme are Rs 5,000/ Rs 15 = 333 units. The mutual fund house would redeem 333 units and give you Rs 5,000 for the month of February. You are left with 7500 units – 333 units or 7167 units. You may continue the calculations in a similar manner for the following months. What is the SWP Calculator? The SWP Calculator is a simulation that shows you the monthly withdrawals from your mutual fund investments. It shows the total value of the mutual fund investment after the withdrawal. You may be able to get a regular income in retirement through the systematic withdrawal plan. The SWP Calculator consists of a formula box, where you enter the total investment amount, withdrawal per month, the expected annual rate of return, and the tenure of the investment. The SWP Calculator shows you the future value of your mutual fund investments. Example of Systematic Withdrawal Plan As mentioned before, the SWP allows investors to generate both monthly revenue as well as an accumulated sum at the end of the maturity period. Refer to this investment and withdrawal schedule for an in-depth idea. Here, an individual has invested Rs. 50,000 for tenure of 1 year along with a systematic withdrawal of Rs. 1,000 per month. Interest rate stands at 10%. As such, total return of investments after the end of the tenor stands at Rs. 4,565. Month Balance at Begin Withdrawal Interest Earned 1 50,000 Rs. 1,000 Rs. 408 2 Rs. 49,408 Rs. 1,000 Rs. 403 3 Rs. 48,812 Rs. 1,000 Rs. 398 4 Rs. 48,210 Rs. 1,000 Rs. 393 5 Rs. 47,604 Rs. 1,000 Rs. 388 6 Rs. 46,992 Rs. 1,000 Rs. 383 7 Rs. 46,375 Rs. 1,000 Rs. 378 8 Rs. 45,753 Rs. 1,000 Rs. 373 9 Rs. 45,126 Rs. 1,000 Rs. 368 10 Rs. 44,494 Rs. 1,000 Rs. 362 11 Rs. 43,856 Rs. 1,000 Rs. 357 12 Rs. 43,214 Rs. 1,000 Rs. 352 FAQs When to use SWP? As per experts, SWP works best after retirement because an individual needs income Can individuals who are not retirees invest in an SWP? No, SWP investments are not limited only for retirees or senior citizens.

Form 16B basically is an indicator of the amount of money that has been deducted as property Tax Deducted at Source (TDS). The buyer, in this case, is required to basically minus the TDS on property at the time of the property sale. Form 16B which is a TDS certificate reflects the amount that has been deducted as TDS on property that has been deposited by the buyer with the Income Tax Department. Buyer is required to deduct TDS on property at the time of sale of the immovable property. The TDS is deducted at 1% from the amount that the buyer has to pay the seller. That amount is then to be deposited with the Income Tax Department. After the amount has been deposited with the Income Tax Department the buyer will have to issue Form 16B to the seller. This is a proof of the TDS being deducted on the property and that it is deposited with the government. Form 16 is TDS certificate for the TDS deducted from salary, Form 16A is TDS certificate for the TDS deducted from all other types of payments, Form 16B is TDS certificate for the TDS being deducted on the sale of property. Every person who has income chargeable to tax is required to file an income tax return to report their income and tax liabilities. However, income tax laws in India provide for the collection/deduction of tax at source (TDS/TCS). This, on the one hand, ensures, continuous revenue flow to Government and on the other hand, keeps a check on tax evasion. It is the responsibility of the payer to deduct tax (TDS/TCS) and pay it to the credit of Government. For such tax deduction, obtaining a Tax deduction Account Number (TAN) is mandatory. Deductor also has the responsibility of filing Tax deduction at source (TDS) return providing particulars of deductees, nature of the payment made, tax deducted, rate at which it is deducted etc for every quarter of a financial year. The TDS returns filed facilitate the income tax department give credit of TDS to the right deductees. Nature of Tax Deduction and Person Responsible to Deduct Tax here is a transfer (other than cases of compulsory acquisition) of immovable property Immovable property means land/building/part of building but excluding agricultural land* Buyer is responsible for paying consideration to resident seller in respect of such transfer Transfer is for a consideration of Rs 50 lakhs or more Buyer must deduct tax at the rate of 1% of consideration either at the time of credit or payment If seller does not provide for PAN, TDS at the rate of 20% as per Section 206AA Contents of Form 16B Deductors and Deductee name and address Deductors and Deductee PAN number Assessment year Payment acknowledgement number Amount paid/credited Verification Form 26QB and Form 16B Form 26QB is a return cum challan for payment of TDS to the Government which shall be furnished electronically for tax deducted under Section 194-IA.  Due date Form 26QB shall be furnished within 30 days from the end of the month in which deduction is made. For eg: if payment/credit is made on 16th April, Form 26QB shall be furnished by 30th May.  InstallmentsIn case of payment/credit in installments, as TDS is required for each installment, Form 26QB shall also be furnished for each such deduction.  Multiple parties to transactionForm 26QB shall be furnished for each buyer and seller combination.  Example 1: If there one buyer, B1 and 2 sellers, S1 and S2, Form 26QB shall be furnished separately for B1 and S1 combination and B1 and S2 combination, hence overall 2 26QB to be filed.  Due Date for Issuance of Form 16B Deductor shall issue Form 16B to the payee within 15 days from the due date for furnishing Form 26QB and Form 16B can be generated and downloaded from TRACES – TDS Reconciliation and Analysis and Correction Enabling System. For eg: Using the same example as above w.r.t due date for Form 26QB, Form 16B shall be issued on 14th June. Depositing TDS amount Once the challan is printed, the tax amount is deposited as a cheque or demand draft. When the taxpayer opts to pay at a bank, he/she will be redirected to the bank’s official payment page. Once the amount is paid, a challan counterfoil with CIN, payment details, bank’s name, etc. is displayed. This counterfoil acts as proof of payment. After this, taxpayers can proceed to the TRACES portal after 5 days and download Form 16B. Procedure to Generate and Download Form16B from TRACES Register as taxpayer on TRACES with details of PAN and either detail of tax deducted or details of challan or details of Form 26QB. Also, enter the verification code and click on ‘Proceed’. Activation link will be sent to email id through which account can be successfully created If already registered login to TRACES  with username as ‘PAN’ and password Under downloads tab Select ‘Form 16B (For Buyer)’ Furnish details such as assessment year, acknowledgment no. of the Form 26QB and PAN of the seller Form 16B will now be available on requested downloads section under Downloads category Form 16B can now be printed/saved Difference Between Form 16, Form 16A, and Form 16B Particulars  Form 16 Form 16A Form 16B  Who issues it? Issued by the employer Issued by financial institutions, tenants, etc. Issued by property buyers to sellers. Who is it directed at? Directed towards salaried employees.  Directed towards non-salaried employees. Directed towards property sellers.  Purpose  Form 16 is issued for TDS on salary. Form 16A is issued on income generated through non-salary sources such as securities, returns on investment, rent, or interest on FD.  Form 16B is issued for TDS on earnings generated through the sale of immovable property. Components  Proof of income Employer’s PAN and TAN Employee’s PAN Tax paid on behalf of employees  Payment acknowledgment number Surcharges and education cess Deductor’s PAN and TAN Deductee’s PAN Amount of Tax paid The receipt number of TDS paid   Deductor’s PAN and TAN Deductee’s PAN

Most private sector employees are entitled to receive post-retirement benefits if they function in the organised sector. Note that government employees are additionally eligible for pensions unlike their private sector counterparts. Employee Provident Fund was set up after the EPF Act was passed in the Parliament. Under the law, the Employees Provident Fund Organisation of India (or EFPO) controls the funds deposited by both the employee and employer in a permanent account, affixed by an UAN or Unique Account Number.  What is EPF? The Employee Provident Fund or the EPF is a retirement benefits scheme for salaried employees in the private sector. The Employees Provident Fund Organisation (EPFO) manages the EPF. Any organisation or firm with 20 or more employees gets covered under the EPFO. The Employees Provident Fund Organisation operates three schemes. The EPF Scheme 1952 The Pension Scheme 1995 The Insurance Scheme 1976. The employees who fall under the EPF scheme make a fixed contribution of 12% of the basic salary and the dearness allowance towards the scheme. The employer should also make an equal contribution to the EPF scheme. The EPFO Central Board of Trustees fixes the EPF interest rates every financial year after consulting the Ministry of Finance. The EPF Interest Rate for Financial Year 2023-24 is 8.25%. The employee would get a lump-sum amount at retirement, which includes the contributions of both the employee and the employer with the interest payments. However, 12% of the employer contribution does not go to the EPF account. Out of the 12% contribution, 8.33% goes towards the Employee Pension Scheme Account, and the remaining 3.67% goes to the employee EPF account. It is compulsory for all employees who draw a basic salary of less than Rs 15,000 per month to become members of the EPF. You cannot opt-out of the EPF scheme once you become a scheme member. An employee can make an enhanced contribution up to a maximum of 100% of the basic salary to the voluntary provident fund. The employer will not match the contribution. What is EPF Calculator? The EPF calculator is an online financial tool that calculates the total PF amount or maturity amount you will receive after retirement from your employment. This maturity amount will include both your and your employer’s contributions and the interest credited to your account. The data required to calculate your PF amount is as follows: PF contribution/ investment month every month, quarter, half-year or yearly PF interest rate Duration of contribution Frequency of EPF contribution Formula to Calculate EPF Amount To understand how to calculate EPF, let us have an example. Employee basic salary + dearness allowance = Rs 14,000 Employee contribution towards the EPF = 12% * 14,000 = Rs 1,680 Employer contribution towards the EPF = 3.67% * 14,000 = Rs 514 Employer contribution towards EPS = 8.33% * 14,000 = Rs 1,166. The total contribution by the employer and employee towards the EPF account of the employee = Rs 1,680 + Rs 514 = Rs 2,194. Now with the Applicable interest rate 8.25% p.a, the monthly earned interest will be; 8.25%/12 = 0.679% Assuming the employee joined the Firm XYZ in April 2019. The total EPF contribution for April will be Rs 2,194. The EPF scheme will not pay any interest for April. The total amount in EPF account May 2019 = Rs 4,388 (Rs 2,194+ Rs 2,194). He receives an interest of Rs 4,388 * 0.679% = Rs 29.79. The formula to determine EPF amount When you use Groww’s EPF calculator in India, you are assured of quality and reliability. This is the data you should keep in handy before you use the calculator. Your basic monthly salary including Dearness Allowance (DA) Your contribution to the EPF Your employer’s contribution Your retirement age (Including VRS, if you have such plans.)  Your current EPF balance Current EPF interest rate How can PF Calculator help you? Financial Planning Support: A PF calculator aids salaried individuals in planning their retirement by providing a clear view of their projected Provident Fund (PF) balance at retirement, helping them understand how much they need to save monthly to meet their financial goals. Effortless Tracking: It automates the calculation of total contributions and interest accrued over time, eliminating the hassle of manual calculations and ensuring accuracy in the tracking of their retirement savings. Immediate Updates: Salaried users receive immediate updates on any changes in PF policies, such as adjustments in interest rates or contribution ratios, enabling them to make informed decisions about their investments and savings strategy. FAQs What is a PF Calculator? A PF (Provident Fund) calculator is an online tool that helps employees estimate the amount of money they will accumulate in their Provident Fund over time. It considers contributions made by both the employee and the employer, the interest rate, and the duration of the contribution to calculate the total PF balance. When can I withdraw the money from my EPF account? You can only withdraw the money for personal purposes: After you have completed 7 years of service Only thrice during the EPF account’s duration.

The UIDAI (Unique Identification Authority of India) has launched a service of obtaining Duplicate Aadhar card Online. In case if your Aadhaar has been lost, misplaced or if they want a new copy, you can use this facility. This facilitates the residents of India to get their Aadhaar card duplicate by paying nominal charges. Residents who do not have registered mobile number can also apply for “Order Aadhaar Duplicate” using Non-Registered or Alternate Mobile Number.  If you have lost or misplaced your Aadhaar Card, the UIDAI has made it possible for all residents to acquire a duplicate card through a simple procedure. In case you do not know or are unsure of your Aadhaar number, or if you have lost or misplaced your acknowledgement slip, you will still be able to retrieve the Aadhaar card. Required Documents to Re-apply Proof of Identification:- An identity document includes Ration/PDS Photo Card, PAN Card, Passport, Driving license, etc. Proof of Address:- The address proof documents include Bank Account details/Passbook, Electricity bill, water bill, telephone bill, Property Tax receipt, Credit Card statement, etc. Proof of Date of Birth:- The documents accepted for the proof of date of birth includes Birth Certificate, Mark sheet issued by any Government Board or University, PAN card, etc. Turnaround Time The residents will be charged a nominal fee of Rs. 50 (inclusive of GST & speed post charges). The reprinted Aadhaar will be given to the post office through registered post for the delivery. The processing time for the delivery of the new reprinted Aadhaar is 5 working days. Aadhaar Letter will be delivered using speed post Service of Department of Post (DoP) in line with DoP delivery norms, and Delivery Status may be tracked using DoP Status Track Services. Conditions for Obtaining Duplicate Aadhaar Card You must know your Aadhaar Number or VID (Virtual Identification Number) for giving reprinting request. The mobile number must be registered with the Aadhaar Database for giving this request. You should be ready to pay fees of reprinting card. Online Procedure to Order Aadhaar Card Duplicate Step 1: Firstly, the applicants will have to visit the UIDAI’s website using this link. Step 2: Then click on the “Order Aadhaar Reprint (Pilot Basis)” option from the dropdown list under the Aadhaar services tab. Step 3: You will be re-directed to an Order Aadhaar Reprint page where you have to enter your 12 digits Aadhaar Number or Virtual ID and the security code. Step 4: You have click on the send OTP button if your mobile number is registered with the UIDAI portal. Step 5: Once you receive OTP, you have to enter it on the given tab Step 6: Then you have to select the check box agreeing to “Terms and Conditions”. After that click on the Submit button. Step 7: Once the correct OTP is entered, you will be able to verify your Aadhaar card details (Only if a mobile number is registered in the Aadhaar database). Note: If your mobile number or Aadhaar details are not matching or inaccurate, you need to visit Aadhaar Enrolment centre to get the details corrected. Step 8: If your information is correct, click on ‘Make Payment’ option. You will be redirected to the payment gateway. Step 9: You can use the following payment modes to make the payment for “Order Aadhaar Reprint.” Credit Card Debit Card Net Banking UPI Step 10: A fee for reprinting new Aadhaar is Rs. 50. Then you have to enter the payment details and click on the ‘Pay Now’ button. Step 11: Upon successful payment, you can receive an acknowledgement slip displayed on your screen. You can also print/ download the acknowledgement receipt. You will also receive service request number (SRN) on your registered mobile via SMS. How to Get a Duplicate Aadhaar Card Offline Through a Phone? Dial UIDAI’s toll-free numbers 1800-180-1947 or 1947 Choose the Interactive Voice Response (IVR) option to connect with an Aadhaar representative Clearly explain your need for a duplicate Aadhaar card to the representative during the call.  The representative will conduct identity verification by asking specific questions; and providing accurate responses.   Once verified, the representative will proceed to approve and initiate the issuance of your new Aadhaar card. Upon completing these steps, your duplicate Aadhaar card will be sent to your specified address via speed post. FAQs What happens if my Aadhar card is lost? Your Aadhaar card can be located if you’ve misplaced it or lost it through a number of UIDAI services. You can ask UIDAI to transmit your Aadhaar enrollment ID (EID) details to the registered cellphone number if you can’t recall it. Through the UIDAI portal, you can also reapply for the Aadhaar card. What distinguishes an authentic Aadhar card from a duplicate one? An actual, genuine copy of a unique identifying document is an Aadhaar card. The e-Aadhaar card, on the other hand, is a duplicate or printed copy of the Aadhaar card that is downloaded from the UIDAI website. 2. The e-Aadhaar card is only available in digital form; the Aadhaar card is only available in hard copy.