October 2024

The government issues the Tamil Nadu Community Certificate to people who identify as members of the Scheduled Castes (SC), Scheduled Tribes (ST), Most Backward Classes (MBC), and DE notified Tribes (DNT). To qualify for any of the government’s benefits, reservations, or safeguards, a person must present this certificate as proof of their caste or community. The Community Certificate in Tamil Nadu is issued by the state’s Revenue Department. It is mandatory to apply for this certificate online to get benefits in the employment and education segment from the Government of Tamil Nadu. Community Certificate Tamilnadu Community certificate is an important document issued by the Revenue Department to certify that a person belongs to a particular reserved community like Scheduled Caste, Scheduled Tribe and Other Backward Classes. The Community certificate issued by the concerned State Governments is also known as caste certificate. Community certificate is mandatory for obtaining benefits in education and employment sectors from the Government. Eligibility The applicant should belong to any reserved category such as Scheduled Caste, Scheduled Tribe or Other Backward Classes The applicant should be an Indian citizen The applicant should be residing in Tamilnadu The applicant should have completed 3 years of age Documents Required for Community Certificate in Tamil Nadu Passport size photograph Proof of address Self-declaration of the applicant Community certificate of father/ Community certificate of mother/ Community certificate of siblings DE notified Community Certificate (DNC) Register in TN eSevai Portal and Generate CAN Number In order to apply to apply for Community Certificate online in Tamil Nadu, you have to complete the following tasks: Register in the Tamil Nadu eSevai Portal Register for CAN for getting the access the application form eSevai Registration Given below are the steps to register in the eSevai portal: Firstly, visit the Tamil Nadu eSevai portal. Next, click on ‘Citizen Login’. For the new users, they need to click on the ‘New User’. Enter all the required details. You will receive an One Time Password (OTP) in your registered mobile number to register in the eSevai portal. Once you are registered to the portal, you have to log in to the website using your credentials. Next, choose ‘Revenue Department’. Select ‘REV-101 Community Certificate’. Next, click on ‘Proceed’. CAN Registration The following are the steps to do CAN registration: Firstly, click on the ‘Register CAN’ button in order to apply for CAN registration. Now, enter all the required details in the prescribed format. Click on the ‘Register’ to submit the form. You also have to generate and verify the OTP before submitting the form. Once the registration is done successfully, the CAN number will be generated. Apply Online for Community Certificate in Tamil Nadu First, you have to enter the CAN Number and search for the records. The applicant who has a unique CAN Number, his or her record will be displayed in the search results. Select the record by choosing the option button. Now, click on ‘Proceed’. The details of the applicant such as permanent address, current address, and contact details will be displayed  and these are non editable. You also have to mention the details of your family members. Mention the details of the community certificate form and click on ‘Submit’ button. Then, attach the documents in the prescribed file type and file size. Once the documents are uploaded, click on ‘Make Payment’. Once the payment is done, you will receive the acknowledgement receipt. Click on Print Receipt to download and print the receipt for future reference. FAQs How to get community certificate in TN? To get a community certificate in TN, you need to apply at your local Tahsildar office or online through the Tamil Nadu eSevai porta What are documents required for community certificate in Tamil Nadu? The documents include proof of address, identity proof, ration card, aadhar card, and other supporting documents.

A charitable trust is a type of entity formed to provide the public with religious or humanitarian facilities. Trusts that are formed for charitable or religious purposes and not intended to do commercial activities are allowed various benefits under the Income-Tax Act. ITR-7 is filed when persons including companies are required to file their returns as per these section: section 139(4A): Income of Charitable and Religious Trusts section 139 (4B): Political Parties section 139 (4C): Scientific research institutions section 139 4(D): University, college or other institution Introduction of Income tax return for Trust & Society Charitable Trusts/Societies/Foundations are all covered under the head of NGO i.e. Non-Governmental Organisations that works for the social and economic welfare of the society. There are different forms of organisations that can be formed for raising out a hand for charitable activities. ‘Charitable purpose’ includes relief of poor people like education, medical relief, and the advancement of any object of general public utility. One of the benefit which NGOs have is Under Section 80G. Eligibility for Exemption The trust should be registered with the Commissioner of Income Tax as a Charitable Trust which is eligible for exemption under the Act. The registration shall be made in accordance with the guidelines available in Section 12A of the Act. The property of the trust should be bound by a trust deed or another similar legal obligation. The purpose of holding the property should be a charitable or religious purpose. The trust should not have been created for the benefit of any particular religious community or caste group. The income of the trust should not be applied for the benefit of the settlor or any person who can be considered as a close relative of the settlor. An exemption will be available exclusively for the portion of the income which is applied towards charitable or religious purposes. In case the income of the trust exceeds the basic exemption limit, the trust should mandatorily submit the books of accounts for audit. Assessees may note that in this context, income refers to the earnings of the trust prior to allowing the exemption offered by the Act to charitable trusts. The trust should submit the return of income if the income of the trust exceeds the basic exemption limit. The due date for filing the return varies depending on the circumstances of the trust. The trust may earn income which is accumulated towards application in the future. In such cases, the income which is accumulated towards future application should be invested separately. The mode of investment should comply with the provisions of the Act. ITR Form Return by charitable trust (section 139(4A)): Return under section 139(4A) is required to be filed by every person in receipt of income derived from property held under trust or other legal obligation wholly for charitable or religious purposes or in part only for such purposes. Return by agency (section 139(4C)): Return under section 139(4C) is required to be filed by every:1. Scientific research association;2. News agency3. Association or institution referred to in section 10(23A)4. Institution referred to in section 10(23B)5. Fund or institution or university or other educational institution or any hospital or other medical institution. Return by business trust (section 139(4E): Return under section 139(4E) must be filed by every business trust which is not required to furnish return of income or loss under any other provisions under this section. Return by political party (section 139(4B): Return under section 139(4B) is required to be filed by a political party if the total income without giving effect to the provisions of section 139A exceeds the maximum amount, not chargeable to income-tax. Return by university, colleges (section 139(4D): Return under section 139(4D) is required to be filed by every university, college or other institution, which is not required to furnish return of income or loss under any other provision under this section. Return by investment fund (section 139(4F): Return under section 139(4F) must be filed by any investment fund referred to in section 115UB. It is not required to furnish return of income or loss under any other provisions of this section.   What is the Structure of the ITR-7 Form? The ITR-7 form has been divided into 2 parts and 23 schedules. From AY 2023-24, a taxpayer has to also provide information on the details of registration or approval. Part-A – General information Part-B – Outline of the total income and tax computation with respect to income chargeable to tax. Schedule-I: Details of amounts accumulated/ set apart within the meaning of section 11(2) or in terms of third proviso to section 10(23C)/10(21) read with section 35(1) in last 7 financial years viz., previous years relevant to the current AY. Schedule IA: “Details of accumulated income taxed in earlier assessment years as per section 11(3)” Schedule-D: Details of deemed application of income under clause (2) of Explanation 1 to sub-section (1) of section 11. Schedule-DA: Details of accumulated income taxed in earlier assessment years as per section 11(1B). Schedule-J: Statement showing the investment of all funds of the Trust or Institution as on the last day of the previous year. Part A-BS : Details of Application and Sources of Fund as on 31st March 2022 Schedule R: Reconciliation of Corpus of Schedule J and Balance sheet Schedule-LA: Details in case of a political party. Schedule-ET: Details in case of an Electoral Trust Schedule-VC: Details of Voluntary Contributions received. Schedule AI: Aggregate of income derived during the year excluding voluntary contributions Schedule A: Amount applied to stated objects of the trust/institution during the previous year from all sources referred to in C1 to C7 of this table Schedule IE-1, IE-2, IE-3 and IE-4: Income and expenditure statements as applicable Schedule-HP: Computation of income under the head Income from House Property Schedule-CG: Computation of income under the head Capital gains.  Schedule VDA: Income from transfer of virtual digital assets u/s 115BBH Schedule-OS: Computation of income under the head Income from other sources  Schedule-OA: General information about business and profession  Schedule-BP: Computation of income under the

Telangana Government, as a part of its welfare measures and social safety net strategy, introduced the Aasara pension scheme with a view of ensuring a secure life with dignity for all the poor people. Aasara pension scheme is meant to protect the most vulnerable sections of society to support their day to day minimum needs to be required to lead a life of dignity and social security. Aasara pensions provide substantial financial benefits to all the below-mentioned categories, particularly those who are most needy. Old and infirm People with HIV-AIDS Widows Incapacitated weavers Toddy tappers Eligibility Criteria for Aasara Pension Eligibility Criteria for Old Age To get Aasara to pension, the age should be 65 years and above Primitive and Vulnerable Tribal Groups Only one pension in a family, preferably women Landless agriculture labourers, rural artisans or craftsmen slum dwellers, persons earning their livelihood daily in the informal sector like porters, coolies, rickshaw pullers, hand cart pullers, fruit or flower sellers, snake charmers, rag pickers, cobblers, destitute and other similar categories irrespective of rural or urban areas Homeless households residing in temporary informal establishments or huts especially in urban areas Households headed by widows or terminally ill persons, disabled persons or persons aged 65 years or more with no assured means of subsistence or societal support and able-bodied earning member Eligibility Criteria for Widows If the age of the widow is 18 years and above, she is eligible for Aasara pension. Primitive and Vulnerable Tribal Groups Women headed households with no able-bodied earning members Only the widow is given the pension Landless agriculture labourers, rural artisans or craftsmen, slum dwellers, persons earning their livelihood daily in the informal sector like porters, coolies, rickshaw pullers, hand cart pullers, fruit or flower sellers, snake charmers, rag pickers, cobblers, destitute and other similar categories irrespective of rural or urban areas Homeless households residing in temporary informal establishments or huts especially in urban areas Households headed by widows or terminally ill persons, disabled persons or persons aged 65 years or more with no assured means of subsistence or societal support and able-bodied earning member Eligibility Criteria for Weavers Age criteria for weavers to get Aasara pension are 50 years and above or local post office Primitive and Vulnerable Tribal Groups Only one pension in a family By profession, a person should be in weaving, irrespective of rural or urban areas Homeless households residing in temporary informal establishments or huts especially in urban areas Households headed by widows or terminally ill persons, disabled persons or persons aged 65 years or more with no assured means of subsistence or societal support and able-bodied earning member Eligibility Criteria for Toddy Tappers 50 years and above-aged Toddy Tappers are eligible for Aasara Pension Primitive and Vulnerable Tribal Groups Only one pension in a family By profession, a person should be in Toddy Tapping, irrespective of rural or urban areas Homeless households residing in temporary informal establishments or huts especially in urban areas Households headed by widows or terminally ill persons, disabled persons or persons aged 65 years or more with no assured means of subsistence or societal support and able-bodied earning member For Toddy tapper pensions the verification should be confirmed whether the beneficiary is a registered member in the Co-Operative Society of Toddy Tappers Eligibility Criteria for Disabled Person Aasara pension is issued to the Disabled Person irrespective of their Age Primitive and Vulnerable Tribal Groups Women headed households with no able-bodied earning members In the case of Hearing Impaired, the minimum disability should be 51% Landless agriculture labourers, rural artisans or craftsmen slum dwellers, persons earning their livelihood daily in the informal sector Homeless, houseless households residing in temporary, casual establishments or huts especially in urban areas Households headed by widows or terminally ill persons, disabled persons or persons aged 65 years or more with no assured means of subsistence or societal support and able-bodied earning member Documents Required to Apply for Aasara Pension Photograph of applicant Aadhaar number (Aadhaar number is not available they shall secure one in the next three months) Savings Bank account number and IFSC code either from a bank or local post office Proof of Age, if no document is available for the confirmation of age in case of old age person, other documents such as age proof of children or grandchildren’s marriage certificate etc. can be submitted Photograph Death certificate of the husband in case of widows (where death certificate is not available the Panchayat Secretary shall conduct a detailed enquiry and submit a report). However, the death certificate shall be obtained in the next three months and uploaded in the online system Photocopy of registration in Co-operative society of Toddy Tappers Weavers should submit a photocopy of registration in Co-operatives society of weavers SADAREM Certificate in the case of persons with disabilities 40% or above and 51% in respect of the hearing impaired Aasara Pension Amount Sl.No Category Monthly Pension Amount (Rs.) 1 Old Age 1000 2 People with HIV-AIDS 1000 3 Widows 1000 4 Incapacitated weavers 1000 5 Toddy Peppers 1000 6 Disabled 1500  Apply for Aasara Pension Step 1: Download the Aasara pension application form from the Official website of respective Municipal Corporation. The applicant can get the application from the nearby MeeSeva Centre. Step 2: Fill the application form and attach all the documents mentioned above. Step 3: Applicant can give the application to Gram Panchayat Secretary or Village Revenue Officer in the rural area and Bill Collector in Urban area. Step 4: After processing through Aasara online portal by Municipal Commissioner and finally by District Collector, Aasara Pension cards are distributed for the relevant category by affixing the photo of the beneficiary. FAQs What is the Aasara Pension Scheme? Aasara Pension Scheme is a welfare initiative launched by the Telangana government to provide financial assistance to vulnerable sections of society, including the elderly, widows, disabled individuals, and certain marginalized communities. The scheme aims to help these groups live with dignity by offering a monthly pension. Who is eligible for the Aasara Pension? Senior citizens

CBIC has taken various steps which have had the impact of reducing the dwell time as well as bringing down the logistics cost of EXIM clearances. One of the flagship initiatives in this regard has been the Direct Port Delivery (DPD). DPD is an innovative scheme, introduced at JNCH and replicated at other CFS-based ports in India by CBIC in September 2019. This initiative has transformed the process of cargo clearance, by allowing the facilitated consignments to be given ‘out of charge’ directly from the terminal premises, thereby eliminating the requirement of containers being moved to CFSs for completing Customs formalities before grant of ‘out of charge’. DPD has been a major factor in improving ease of doing business, trade facilitation and reduction in cargo release time, since it reduces unnecessary transport to and handling of containers at the CFS, thereby resulting in substantial savings in cost of clearance as well. With effect from 07th July, 2021 all the advance Bills of Entry which are fully facilitated (do not require assessment &/or examination) would be granted the facility of DPD. This facility is over and above the erstwhile system of entity based DPD extended to Authorised Economic Operator (AEO) clients. This is expected to broaden the eligibility leading to further reduction in dwell time. Outline The Government of India (GOI) introduced a Direct Port Delivery system for importers to take delivery directly from the port, rather than the CFS process. The DPD system was first introduced in Jawaharlal Nehru Port (JNPT) for all the registered members associated with the Customs Accredited Client Program (ACP). It was implemented to minimize the delivery time, regularize the process of storing containers at ports and reduce the logistics cost of the containers. This helps to create more space for consignments if the manufacturer requires necessary or additional storage space. The DPD system operates in two types of modes, they are: DPDDPD – The importer takes delivery from the port with their transport DPD/CFS – The importer chooses the CFS process for delivery This announcement seeks to extend its operation to all the ports in India by streamlining general guidelines, eligibility criteria, and mode of operation. Since this process offers prolonged minimal cost for operation, CBIC recommends all the importers register with Challenges/ Resistances faced (a) Apprehension of losing business by CFSs and labourers were resolved by sensitization about increase in business due to more traffic at Port on account of reduced Turn Around Time (TAT). (b) Some part of their CFS were converted into warehouse and DPD area to hold the goods after Customs Clearance which proved profitable for CFSs. (c) Writ Petitions were filed by CFS association and Shipping Lines in Bombay High Court but the Hon’ble Court upheld the Department’s stand taken in public interest. (d) Initially, importers had to be pursued through outreach programmes to convince them about the benefits of the scheme. Objectives of DPD To decrease the time for allocating and re-allocating the shipping consignments. Play a vital role in having a minimal rate for the operations Simplify the rules, regulations, and eligibility criteria for ease of doing business Encourage SMEs, MSMEs, and shipping industries to actively participate in the DPD system Increase the infrastructure of the ports to store more consignments Support Accredited Client Program to increase voluntary compliance among the importers Eligibility Criteria for Direct Port Delivery Scheme by Importers Avoiding Clearance through Container Freight Stations (CFS) One of the important initiatives by CBIC is taking necessary measures to avoid routing the clearance through CFS. This initiative has reduced time and proved cost-effective for all the importers. It was first launched at JNPT and will soon be implemented in other ports. Since CBIC adopted the DPD process, the consignments would be transferred by the internal team rather than members from the shipping company. This allows the containers to be sealed appropriately, labeled for identification, and sorted and stored for allocation when the quantity is less than complete. Regulating guidelines CBIC has regulated the guidelines to increase the mode of operation at all ports in India. The regulated guidelines will methodize the eligibility criteria, which will, in turn, increase registered importers and simplify the process of business. Factors for availing DPD Scheme Other than the benefits of time management and cost-effective process, importers choose to avail of DPD for the following reasons: Non-receipt of original documents from foreign countries Consistent delay in delivering the order Financial and credit constraints Delay in settlement of debt of shipping lines Choosing a PD account with the terminals Guidelines for DPD Eligible criteria for availing of DPD The importers should have registered as AEO Tier I, II, or III status The importers should have a clear track record The import volume should be 25 Full Container Load (FCL), and Twenty-Foot Equivalent Units (TEUs) in the present or previous financial year. All information should be furnished under Annexure-A Importers who are not Eligible to Avail of DPD Importers who have a track record or case of the following in the last five years: Mis-declaration of account of goods Harboring Diverting the imported goods without informing the official department Importers recorded with ongoing prosecution proceedings under Section Customs Act, 1962 Imported goods are subjected to 100% examination related to the current terms and policies Rules for availing of DPD The importers should open a PD account with the terminals The shipping company should arrange the transport for transporting the goods from the port to the industrial or manufacturing site Should follow all the norms as stipulated by CBIC Documents Required to Apply for DPD if the Importer is not registered with DPD Cell. Original Bill of Landing (B/L) Copy of the Delivery Order Original FTA certificates Copy of Terminal discharge report Applying for DPD Step 1: The importer should inform the Shipping line 48 hours in advance before the arrival of the vessel Step 2: The mode of DPD, such as DPDDPD or DPD/CFS, should be informed while registering with the Shipping line. Step 3: File advance B/E and procure OOC

PPF meaning can be simply stated as a long-term investment scheme, popular among individuals who want to earn high but stable returns. Proper safekeeping of the principal amount is the prime target of individuals opening a PPF account. When a PPF scheme is opened, the PPF account is scheduled for the applicant where the money is deposited every month and interest is compounded. What is a PPF account? The PPF account or Public Provident Fund scheme is one of the most popular long-term saving-cum-investment products, mainly due to its combination of safety, returns and tax savings. The PPF was first offered to the public in the year 1968 by the Finance Ministry’s National Savings Institute.  Since then it has emerged as a powerful tool to create long-term wealth for investors. Investors use the PPF as a tool to build a corpus for their retirement by putting aside sums of money regularly, over long periods of time (PPF has a 15-year maturity, and the facility to extend the tenure). With its attractive interest rates and tax benefits, the PPF is a big favourite with a small saver. How Important is PPF? The PPF (Public Provident Fund) is considered an excellent investment option, especially for people uncomfortable with taking risks. While the returns may not be very high because they depend on the market, they offer stability. Additionally, investing in PPF can help diversify your portfolio and has tax benefits. Features of a PPF Account The key characteristics of a public provident fund scheme can be listed as follows– Interest Rate of PPF 7.1% per annum Tax Benefit Up to Rs.1.5 lakh under Section 80C Risk Profile Offers guaranteed, risk-free returns Minimum Investment Amount Rs.500 Maximum Investment Amount Rs 1.5 lakh per annum. Tenure 15 years Investment Tenure A PPF account has a lock-in period of 15 years on investment, before which funds cannot be withdrawn completely. An investor can choose to extend this tenure by 5 years after the PPF lock in period is over if required. Principal Amount A minimum of Rs. 500 and a maximum of Rs. 1.5 Lakh can be invested in a provident fund scheme annually. This investment can be undertaken on a lump sum or installment basis. However, an individual is eligible for only 12 yearly instalment payments into a PPF account. Investment in a PPF account has to be made every year to ensure that the account remains active. Loan against Investment Public provident funds provide the benefit of availing loans against the investment amount. However, the loan will only be granted if it is taken at any time from the beginning of 3rd year till the end of the 6th year from the date of activation of the account. The maximum tenure of such loans against PPF is 36 months. Only 25% or less of the total amount available in the account can be claimed for this purpose. Eligibility Criteria Indian citizens residing in the country are eligible to open a PPF account in his/her name. Minors are also allowed to have a Public provident fund account in their name, provided it is operated by their parents. Non-residential Indians are not permitted to open a new PPF account. However, any existing account in their name remains active till the completion of tenure. These accounts cannot be extended for 5 years – a benefit available to Indian residents. Interest on a PPF Account The interest payable on public provident fund schemes is determined by the Central Government of India. It aims to provide higher interest than regular accounts maintained by various commercial banks in the country. Interest rates currently payable on such accounts stand at 7.1%, and are subject to quarterly updates at the discretion of the government. How to Open a PPF Account? Both offline and online procedures are available for an individual provided he/she meets requisite parameters mentioned in the eligibility criteria. Activating PPF online can be done by visiting the portal of a chosen bank or post office. The following documents have to be produced at the time of activation of a public provident fund account – KYC documents verifying the identity of an individual, such as Aadhaar, Voter ID, Driver’s License, etc PAN card Residential address proof Form for nominee declaration Passport sized photograph PPF – Tax Benefits Income tax exemptions are applicable on the principal amount invested in a PPF as an account. The entire value of investment can be claimed for tax waiver under section 80C of the Income Tax Act of 1961. However, it should be kept in mind that the total principal that can be invested in one financial year cannot exceed Rs. 1.5 Lakh. The total interest accrued on PPF investment is also exempt from any tax calculations. Therefore, the entire amount redeemed from a PPF account upon completion of maturity is not subject to taxation. This policy makes the public provident fund scheme attractive to many investors in India. Withdrawal Mandatory lock-in of 15 years is imposed on the principal amount invested in such plans. In case of emergencies related to specific end-uses, partial withdrawal can be made. However, this amount can only be extracted after the completion of 5 years of activation of the account. Up to 50% of the total balance can be withdrawn in one transaction each financial year succeeding in the 4th year. Investors should note that funds invested in a PPF account cannot be liquidated before the completion of the maturity period. Individuals looking for long-term risk-free investment options providing stable yields can easily opt for this government-backed instrument. FAQs How to convert a minor’s PPF account into a major’s? When a minor PPF account holder becomes a major or turns 18 years old, you can change the status of the account from minor to major by submitting a revised application form along with the relevant documentation stating the account holder’s age. As an attestation, the guardian might submit the application along with the account holder’s signature on the application form. What is the minimum lock-in period for a PPF investment? The real term of the PPF account is 15 years, which is the minimum lock-in time for a PPF

E-stamping is an online method of paying non-judicial stamp duty on property to the government. Online stamping has replaced the traditional ways of paying stamp duty charges including physical stamp paper and franking. Several State governments currently have already adopted the online mechanism. Stock Holding Corporation of India Limited (SHCIL), the Central Record Keeping Agency (CRA), is responsible for grating e-stamp certificates in India. SHCIL appoints Authorised Collection Centers (ACCs), which act as the middle-men between the CRA and Stamp Duty payer, to issue e-stamp papers. There are several ACC authorised centers from respective State governments. Stamp Duty The stamp duty is a kind of tax that needs to be paid at the time of property registration. It is a legal tax payable as proof for any purchase of a property/land or registration of deed.To register property in India, the buyer needs to pay some charges in the form of stamp duty for registration. Previously, stamp duties were paid by purchasing stamp papers from authorised stamp vendors/treasury at the time of property registration. The Inspector General of Registration Revenue and Disaster Management Department of Government of Odisha have facilitated the payment of Stamp Duty through the e-Stamping system. Stamp paper is the traditional way of paying stamp duty and registration charges. The owner needs to purchase non-judicial stamp paper from an authorised vendor or Treasury. Once the non-judicial stamp paper obtained, the transaction details will be written/typed on that. Odisha e-Stamp Certificate Odisha e-Stamp Certificate is a computer-generated alternative for conventional stamp paper. To avoid counterfeit stamp paper and to make property registration easy, the Government of Odisha introduced e-stamping. As per The Indian Stamp (Odisha Amendment) Act, 2014, transaction above Rs. 1 lakh should be paid only with Odisha e-stamp. Benefits of Odisha e-Stamp Certificate Odisha e-stamp certificate is a convenient method for tax at the time of property registration Usage of Odisha e-stamp certificate eliminates the need of non-judicial stamp papers for deed registration All details of property registration stamp duty (stamping) can be obtained from a single online portal Odisha e-stamp certificate online purchase makes the property registration process quick Odisha e-stamp certificate is tamper proof Validation is very easy with Odisha e-stamp certificate Attribute in Odisha e-Stamp Certificate e-Stamp certificate Serial number Government Receipt Number (GRN) Payment Date & Time Nature of property/land Department Reference Number Value of property/land Amount of stamp duty paid Name of payee Prescribed Authority The Stock Holding Corporation of India Limited (SHCIL) has been appointed as the – Central Record Keeping Agency for issuing Odisha e-Stamp Certificate. Stamp Duty Rate The Odisha e-Stamp Certificate will be issued for the amount of Rs. 1000 Procedure to Purchase Odisha e-Stamp Certificate Step 1: Ascertain the property registration application number and the amount of stamp duty payable from the Registration office. Step 2: Visit the nearest counter of CRA counter in Registration office or CRA branch office or Authorized collection centres (ACCs) and fill up the Odisha e-Stamp certificate application form. Step 3: After providing details such as Property Description, First Party Details, Second Party Details, Stamp Duty Payment Details submit the application form at the counter. Step 4: You can make the payment through cash or depositing DD, cheque or the Bank Transaction Reference ID towards payment made through NEFT or RTGS. Step 5: If the payment is made through cash, the Odisha e-Stamp Certificate will be generated and handed over to the applicant immediately. Step 6: If the payment made through Cheque/DD, the applicant will receive a receipt from the counter. On credit of the amount to the CRA account, the applicant can get the Odisha e-Stamp Certificate from the respective counter. Step 7: After obtaining the debit confirmation from the concerned bank, visit the nearest counter; submit the transaction reference given by the bank along with duly filled the ‘e-Stamp Application Form’ to get the e-Stamp Certificate. Step 8: For registering property, visit the concerned registration office with the Odisha e-Stamp Certificate along with the deed. FAQs Who will be the first and second party of an e-stamp paper? The first party will be the owner of the property and the second party will be the buyer or the transferee. How to verify an e-stamp using a mobile app? SHCIL has come out with a mobile app, E-stamping, through which users can scan the QR code on the e-stamp paper and check its authenticity, even without the internet.

Recurring deposits (RDs) are an investment instrument almost similar to fixed deposits. However, you have to make fixed monthly deposits in RDs, unlike a lump sum amount in FDs. RDs create a habit of regular investment among earning individuals. These also instil discipline when it comes to savings. Recurring deposits are offered by the majority of banks and financial institutions What is RD? RD or Recurring Deposits are an investment tool which allows investors to make regular monthly payments and save money for the long term. Investors can choose the tenure of the deposit and the minimum monthly payment they wish to make according to their convenience. RD schemes are generally more flexible than FD schemes and are generally preferred by those who want to start an account for the purpose of saving money and building a rainy-day fund. How can an RD calculator help you? A recurring deposit, as the name suggests, is a continuing investment. The returns on these deposits can be challenging to track for investors. The interest is compounded quarterly, and there are several variables involved, which makes the calculations multipart. An RD deposit calculator eliminates the hassle of computing its returns manually and enables an investor to know the exact amount their deposits will accrue after the relevant period.  The only consideration that the investor has to do manually is the TDS deduction. As per new RBI norms, RDs are also liable for TDS deduction; however, there is no uniformity in its implementation across financial institutions, which is why RD calculators don’t take it into account. Apart from that small caveat, an RD amount calculator offers an investor with the following advantages: The calculator enables investors to plan their future finances with greater clarity by providing them with the exact amount their investment will accrue. It’s convenient to use and saves a lot of time for the investors, which they can otherwise use productively. The accuracy of these calculators can never be in question. Accurate estimates are pivotal for prudent financial planning.  Formula to determine RD maturity The formula for RD maturity is as follows: A = P*(1+R/N)^(Nt) The variables in this equation represent- A Maturity Amount P RD Instalment each month N Compounding Frequency (no. of quarters) R RD interest rate in percentage t Tenure This is the standard formula used in the calculation of the RD maturity amount, regardless of the sum invested or tenure. All you need to do is put in the variables. For example, an individual starts an RD account for an investment of Rs. 5000 per month for a tenure of 1 year, i.e. 4 quarters. The interest accrued on this account is 8%. The final maturity amount on this particular deposit is calculated with the following formula- A = P*(1+R/N)^(Nt)= 5000*(1+.0825/4)^(4*12/12) = 5425.44= 5000*(1+.0825/4)^(4*11/12) = 5388.64…= 5000*(1+.0825/4)^(4*1/12) = 5034.14By taking the sum of series, total maturity value, i.e. A = Rs 62,730.85 Solving this equation manually is no mean task. A recurring deposit calculator, on the other hand, will provide you with the exact number in mere seconds. The maturity value for the depositor on the investment in RD is INR Rs 62,730.85 FAQs Is TDS applicable on RD? Yes. Effective from June 1, the Finance Bill, 2015, has made TDS mandatory for all recurring deposits. Note that it is applicable only to the interest accrued on the RD. What is the minimum amount to start an RD account? It varies from one financial institution to another. Typically, you may start an RD account with an amount as low as Rs. 500, and deposit the same amount every month throughout the tenure. On a similar vein, there is no limit on the maximum amount you may deposit.

The Indian Income Tax Act, 1961, defines AOP (Association of Persons) as an integration of persons for a mutual benefit or a common purpose. They may be individual or artificial persons such as LLP or a company. For example, two companies may join together and form an AOP for the achievement of a common objective. What is an Association of Persons (AOP)? An Association of Persons (AOP) is a group of two or more people who come together for a common purpose, such as running a business or carrying out a specific project. According to the Income Tax Act of India, an AOP is not considered a legal entity, but rather a collection of individuals who jointly undertake an activity with a view to earning profits. In an AOP, each member shares the profits and losses of the activity in proportion to their respective contributions. Examples of AOPs include partnerships, joint ventures, and cooperative societies. A partnership is a common type of AOP where two or more people come together to start a business and share the profits and losses. In a partnership, each partner is personally liable for the debts and obligations of the partnership. Exclusions from AOP Company Cooperative Society (as specific rates of tax have been prescribed for it) Societies formed under the Societies Registration Act, 1860 or under any other law corresponding to that Act in force in part of India. What is a Body of Individuals (BOI)? A Body of Individuals (BOI) is also a group of two or more people who come together for a common purpose, but unlike an AOP, a BOI is not formed with the intention of earning profits. BOI is a type of association where the members collectively own and manage a property or asset, and the income generated from that property is distributed among the members. Examples of BOIs include clubs, housing societies, and charitable trusts. In a club, the members come together to enjoy certain facilities, such as sports facilities, and the income generated from the facilities is used to maintain them. In a housing society, the members collectively own the land and buildings and share the expenses and profits arising from them. Differences between AOP and BOI The primary difference between AOP and BOI lies in their purpose and nature of activity. An AOP is formed with the intention of earning profits, whereas a BOI is not. AOPs are commonly used for business ventures, while BOIs are used for the management of property or assets. Another key difference is the way profits are shared. In an AOP, profits and losses are shared among the members in proportion to their contributions, while in a BOI, the income generated from the property or asset is distributed among the members. AOPs are also subject to taxation differently than BOIs. In an AOP, the profits are taxed at the rate applicable to the individual members, while in a BOI, the income is taxed as an association of persons. This means that the tax rate for BOIs is higher than for AOPs. Taxation of AOP and BOI Share of Profits of members is unknown/ intermediate Share of Profits of members is known/determinate When the share of Income of individual members of BOI or AOP wholly or partly are unknown, tax would be charged on the total Income of the BOI/ AOP at the maximum marginal rate. In case income of a member of the AOP is chargeable at the rate that is higher than marginal rate, the former would apply i.e. the higher rate would be levied on total income of the AOP. Where total income of the member of BOI/ AOP is more than the maximum exemption Limit, member with the highest income would be charged at maximum marginal rate of 30 percent. FAQs What is an Association of Persons (AOP)? An Association of Persons (AOP) refers to a group of individuals or entities that come together to conduct a business or activity with a common purpose, even if there is no formal partnership agreement. AOPs are recognized under the Income Tax Act in India for taxation purposes. How is an AOP different from a partnership? Legal Status: A partnership is a formal legal entity registered under the Partnership Act, while an AOP is not a separate legal entity. Intent: A partnership typically involves a profit motive and a formal agreement, whereas an AOP can exist even without a written agreement, as long as the members share a common goal.