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FY stands for Financial Year. The Tax Implications shown above is applicable for Individuals below 60 years of age. In the above illustration, I have used the maximum deduction applicable under each income group to minimize the Tax Liability. Income Tax Slabs & Rates Financial Year 2017-18 (Assessment Year 2018-19) BUDGET 2017-18: Things To Know Income upto Rs 2,50,000/- is exempted from Tax. Tax Rebate U/S 87A of Rs 2,500/- is available to Individuals with Income upto Rs 3,50,000/-. Education…Continue Reading >

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Revision in Tax Rates was announced in the Budget 2017 for the next Financial Year. The chart above shows the latest Tax rates applicable for the FY 17-18 (Assessment Year 2018-19). Also refer to the points discussed below, explaining in details about the applicability of Cess and Surcharge on Taxable Income. The exemption limit for Senior Citizens has also been discussed. Please also read about the Tax Liability in the Financial Year 2017-18 in the link provided below. Income Tax…Continue Reading >

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Retail Inflation Economy seems to be slowly recovering from the after effects of Demonetization drive. Retail Inflation dipped to 3.17% in January, 2017 from 3.41% in December,’16. Vegetables prices fell by 15.62% while crude prices dipped by 3.42% during the same period. It implies that the demand in the retail market remain sluggish as of now. However, in the coming few months the retail inflation is expected to rise as the Winter season is coming to an end and food…Continue Reading >

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The Budget for Financial Year 2017-18 was presented earlier this week by our Hon’able Finance Minister in the parliament. This was the first budget post demonetization drive with a lot of expectation from the various sections of the society. The Government had to balance the budget keeping in mind the interest of the common people as well the need to address issues of reforms and economy growth. Many were quite skeptical about the Budget post the demonetization. The budget did…Continue Reading >

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WHOLESALE PRICE INDEX (WPI) Wholesale Price Index (WPI) for the month of December, 2016 rose marginally to 3.39% as compared to 3.15% in the previous month. The rise primarily fuelled by the rising Crude prices in the Global Market. The food inflation fell sharply by (-) 0.7% as compared to 1.54% in the previous month. The softness in the wholesale vegetables and pulses basket is a welcome relief for the economy. In fuel and power segment, inflation rose to 8.65%…Continue Reading >

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  Minimum Wages Act envisages to fix minimum standard wage in scheduled employments thereby protecting the interest of the wage earners. The Act aims to eradicate the exploitation of labour at the hands of the respective employers. The Act also provides provision for maximum daily working hours, periodic rest day and also overtime wages. It lays out provision to protect the interest of the employees and provide them with minimum wage deemed ideal to sustain themselves and their dependents.  …Continue Reading >

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  Employees State Insurance Corporation (ESI) has witnessed quite a few amendments in the last few months which are aimed at improving the healthcare benefits extended to the employees covered under the Act. The latest amendments to ESI are aimed at bringing more individuals under the scheme which would also include their dependents under the fold. The social security schemes are aimed at improving the standard of living and provide better healthcare facility to the Individuals. Amendment also tries to…Continue Reading >

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Lenovo had launched their Budget end smartphone K6 Power just couple of weeks back and now Motorola (acquired by Lenovo) has launched a new midrange smartphone Moto M. Lenovo post acquisition have emerged as a strong competitor to the likes of Xiaomi, Le Eco and other established brands. The acquisition has not only helped Lenovo to grab considerable market share but also their in-house products have gained in terms of quality and value. Moto M is a midrange smartphone which…Continue Reading >

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WHOLESALE PRICE INDEX (WPI) Wholesale Price Index (WPI) for the month of November, 2016 moderated to 3.15% as compared to 3.39% in the previous month. Softening of prices is the impact of the demonetization which has slowed the down the economy to a certain extent. The moderation in food inflation also has helped in keeping the inflation rates under check. The food inflation fell sharply to 1.54% as compared to 4.34% in the previous month. The softness in the wholesale…Continue Reading >

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  It has been an incredible year for the budget and midrange smartphones. We witnessed quite a number of launches from quite a few brands in this segment out which Redmi Prime 3S has proven to be an incredible device along with its elder sibling the Redmi Note 3. While Xiaomi has ruled this segment others such as LeEco and Motorola and Lenovo have also done reasonably well. Lenovo as brand has really made a mark in the smartphone industry…Continue Reading >