Share this with a CA or a Future CA!🎓 Happy CA Day to all the amazing CA students and Chartered Accountants out there!🥳 Today, we celebrate our hard work, late nights, and all the ups and downs of this journey. Whether we’re just starting out or already making an impact, let’s take a moment to be proud of our journey and look forward to the amazing things ahead @icaiorg [happy CA Day, CA, CA Students, chartered Accountants, celebration, achievement, dedication, journey, success, motivation, inspiration, community] #CADay #CharteredAccountant #ca #journey
💍✨ Day 1 of Money and Matrimony: Let’s Make Your Dream Wedding Affordable! ✨💍 Hey friends! Dreaming of a beautiful wedding without breaking the bank? It’s totally doable! Let me share a few more tips to help you save: 🔸 Skip the traditional venue and opt for unique, less expensive locations like a charming garden. 🔸 Go digital with your invites and save on those expensive stationery costs. 🔸 And remember, less is more. Opt for minimalistic decor that’s both elegant and cost-effective. If your wedding is more than 5 years away, you can invest in conservative balanced mutual funds with around 25% equity exposure through SIPs. For a shorter horizon of 3-5 years, opt for large-cap equity and debt funds. This will allow your money to grow over time I’ve got even more tips coming in this series, so make sure you hit that follow button right now! 🌟🔔 [budget wedding ideas, affordable wedding tips, save money wedding, wedding budget hacks, cost-effective wedding, budget-friendly wedding, wedding saving tips, frugal wedding planning, cheap wedding ideas, wedding on a budget, money and matrimony, CA Sakchi Jain] #budgetwedding #affordablewedding #weddingtips #weddinghacks #savemoney #frugalwedding #weddingplanning #weddingbudget #budgetfriendly #weddingideas #moneyandmatrimony #casakchijain
Take the first step!! Standing among 3600 students at the international conference for CA students not just a moment of achievement but it was truly special moment for me. When I first attended CA conference as a student, I never imagined that one day I would be invited to join such an esteemed gathering. The journey to get here has been full of challenges and hard work, but every step has been worth it. I want to express my heartfelt gratitude to each one of you who supported me along the way. Your encouragement, advice, and belief in me have been invaluable. I couldn’t have achieved this without you. Here’s to many more milestones together and to the incredible support that made this possible! Also, thank you @eicasa_eirc_icai for this amazing opportunity!! @icaiorg [CA International conference, Chartered accountant, CA Students, students, professionals, content creators, milestones, panelist, CA Sakchi Jain] #ca #casakchijain #castudents #students
‘Startup Sphere’ by ICAI! It was a pleasure to be a part of the event! It was an inspiring day with great conversations about how influencers can help startups grow. We discussed a lot about using social media and digital platforms to get more visibility, build trust, and drive new ideas. It was amazing to see how influencers can really help startups by giving them the exposure they need and connecting with their audience. Networking was another great part of the event. I met so many passionate people, each with unique ideas and experiences. A big thank you to @icaiorg @icaistartupsphere for organizing this amazing event and to all the speakers and attendees for their valuable insights. #Startupsphere #icai #casakchijain
‘Startup Sphere’ by ICAI! It was a pleasure to be a part of the event! It was an inspiring day with great conversations about how influencers can help startups grow. We discussed a lot about using social media and digital platforms to get more visibility, build trust, and drive new ideas. It was amazing to see how influencers can really help startups by giving them the exposure they need and connecting with their audience. Networking was another great part of the event. I met so many passionate people, each with unique ideas and experiences. A big thank you to @icaiorg @icaistartupsphere for organizing this amazing event and to all the speakers and attendees for their valuable insights. #Startupsphere #icai #casakchijain
‘Startup Sphere’ by ICAI! It was a pleasure to be a part of the event! It was an inspiring day with great conversations about how influencers can help startups grow. We discussed a lot about using social media and digital platforms to get more visibility, build trust, and drive new ideas. It was amazing to see how influencers can really help startups by giving them the exposure they need and connecting with their audience. Networking was another great part of the event. I met so many passionate people, each with unique ideas and experiences. A big thank you to @icaiorg @icaistartupsphere for organizing this amazing event and to all the speakers and attendees for their valuable insights. #Startupsphere #icai #casakchijain
‘Startup Sphere’ by ICAI! It was a pleasure to be a part of the event! It was an inspiring day with great conversations about how influencers can help startups grow. We discussed a lot about using social media and digital platforms to get more visibility, build trust, and drive new ideas. It was amazing to see how influencers can really help startups by giving them the exposure they need and connecting with their audience. Networking was another great part of the event. I met so many passionate people, each with unique ideas and experiences. A big thank you to @icaiorg @icaistartupsphere for organizing this amazing event and to all the speakers and attendees for their valuable insights. #Startupsphere #icai #casakchijain
‘Startup Sphere’ by ICAI! It was a pleasure to be a part of the event! It was an inspiring day with great conversations about how influencers can help startups grow. We discussed a lot about using social media and digital platforms to get more visibility, build trust, and drive new ideas. It was amazing to see how influencers can really help startups by giving them the exposure they need and connecting with their audience. Networking was another great part of the event. I met so many passionate people, each with unique ideas and experiences. A big thank you to @icaiorg @icaistartupsphere for organizing this amazing event and to all the speakers and attendees for their valuable insights. #Startupsphere #icai #casakchijain
Money and Matrimony!💍✨ I’m starting off a new series all about marriage and money! Curious how tying the knot can save you big bucks and lower your taxes? I’ve got you covered! Plus, I’ll be sharing tips on reducing your wedding costs! Follow me now so you don’t miss out on these super helpful tips. And hey, if you have any questions about managing finances for your big day or married life, drop them in the comments below! I’ll make sure to answer them in the series! 🌟🔔 [ marriage and money, wedding cost reduction, tax-saving tips, financial planning for weddings, managing wedding expenses, marriage finance tips, wedding budget hacks, tax deductions for married couples, financial advice for couples, saving money on weddings, CA Sakchi Jain] #marriageandmoney #weddingcosts #taxsavingtips #financialplanningforweddings #managingweddingexpenses #marriagefinancetips #weddingbudgethacks #taxdeductionsformarriedcouples #financialadviceforcouples #casakchijain
Here’s how you can pay 0 Taxes on your 12 Lakhs Salary 👇 1) Standard Deduction of 50,000 under Section 16(ia) 2) HRA Deduction of 1,50,000 3) Section 80C Deduction of 1,50,000 by investing in PPF 4) Additional Deduction of 50,000 under Section 80CCD for NPS 5) Section 80D Deduction of 50,000 (25k for self and 25k for Parents 6) Section 80E Deduction of 50,000 – Education Loan 7) Section 24(b) Home loan Interest of 2,00,000 These deductions totals up to 7,00,000 leaving your taxable income as 5,00,000. As per section 87(A) you can get tax rebate so that your Tax Liablity becomes Zero!
Save taxes by filing ITR!! Handling capital losses from equity shares can help you save on taxes. You can use these losses to offset both short-term and long-term capital gains from any asset. If you can’t use all the loss this year, you can carry it forward for up to eight years to adjust against future gains. It’s important to file your income tax return on time to carry forward these losses, even if your income is below the taxable limit. You can file your ITR using @clearfromcleartax You can use the code CTSAKCHI to get additional 10% discount! [capital loss offset, short-term capital gain, long-term capital gain, carry forward losses, tax return filing, equity shares, income tax return, tax benefits, clear tax, CA sakchi jain] #capitalgains #equityshares #taxlosses #incometax #cleartax #casakchijain #collab #ad
Don’t Book a PG or Hostel Without Watching This! [ The notification hasn’t come yet, but it has been decided by the government, in the 53rd GST council meeting ] Do you know about the recent GST update? Here’s what’s new for PG accommodations: 1. ZERO GST: Hostels, Paying Guests, and Co-Living spaces are exempt from GST for rent up to Rs. 20,000 per month. 2. 90-Day Minimum Stay: This exemption applies when the stay is for a continuous period of at least 90 days. 3. Applicable to Students and Professionals: Both students and professionals can benefit from this exemption. This update comes from the 53rd GST Council Meeting under the chairpersonship of Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman. Stay informed and take advantage of these changes! [GST update, zero GST, PG rent, hostel exemption, co-living exemption, student accommodation, professional accommodation, rent exemption, GST council meeting, CA Sakchi Jain] #GSTUpdate #Hostels #PayingGuests #CoLiving #Students #Professionals #casakchijain
You do not want to pay ₹90,000 extra in baggage fees!! So welcome to our series on managing wedding finances! Let’s talk about a smart way to handle excess luggage when you’re heading to a beautiful destination wedding. The luggage of your guests might exceed the limit, and obviously, you’ll have to pay for the excess baggage. Instead of booking luggage at the airport, consider pre-booking or shipping in bulk. It can save you both time and money. For the flight, target only the necessary items: 1. Valuables (jewelry, small puja items) 2. Makeup and toiletries for touch-ups 3. Medications 4. A change of clothes Benefits of Shipping Wedding Essentials: – Pack Lighter: Avoid the hassle of heavy luggage and potential excess baggage fees at the airport. – Peace of Mind: Focus on enjoying your pre-wedding events and travel knowing your essentials are on their way. – More Flexibility: Pack only the essentials for your carry-on and check-in luggage, allowing you to bring last-minute items without worrying about weight restrictions. Stay tuned for more tips on how to save money and manage your wedding expenses in our Money and Matrimony series! [destination wedding, excess luggage, pre-book luggage, shipping luggage, wedding travel tips, manage wedding costs, save on luggage fees, wedding planning, wedding budget tips, money and matrimony, ca sakchi jain] #weddingfinances #destinationwedding #luggagetips #excessbaggage #prebookluggage #shippingluggage #weddingplanning #weddingbudget #savemoney #casakchijain #moneyandmatrimony
Here👇🏻 1. Foreign Travel: If you have spent ₹ 2 lakh or more on foreign travel during the year, you need to file ITR, even if your income is below the threshold limit. 2. Electricity Bill: If you have paid an electricity bill of ₹ 1 lakh or more during the year, you need to file ITR, even if your income is below the threshold limit. 3. Capital Gains: If you have made a capital gain (e.g., selling a house or shares) and your income before claiming exemption under Sections 54 to 54GB is more than the basic exempted limit, you need to file ITR, even if your income is below the threshold limit. 4. Foreign Assets: If you have any foreign assets, including financial interest in any entity or signing authority in any account located outside India, you need to file ITR, even if your income is below the threshold limit. 5. Deposits in Savings Accounts: If you have deposited ₹ 50 lakh or more in one or more savings accounts during the year, you need to file ITR, even if your income is below the threshold limit. 6. Bank Deposits Exceeding Rs 1 Crore: If an individual deposits Rs 1 crore or more within a financial year in one or more current accounts in a commercial bank or a cooperative bank, an ITR filing is necessary. However, this rule does not apply to businesses. 7. Tax Audit: If your business or profession requires you to get your accounts audited under Section 44AB of the Income-tax Act, you need to file ITR, even if your income is below the threshold limit. 8. TDS/TCS Exceeding Rs 25,000: In case a person has Tax Deducted at Source (TDS) or Tax Collection at Source (TCS) of an amount equal to or more than Rs 25,000, ITR filing is mandatory. For senior citizens, this threshold is set at Rs 50,000. [Income tax, ITR, ITR filing, special cases, mandatory, ITR filing, CA Sakchi Jain] #itr #incometax #casakchijain
Save for later!! Here’s the list of documents 1. PAN Card 2. Aadhaar Card 3. Form 16: This is your salary certificate provided by your employer. It contains your income details for the financial year. 4. Form 16A (if applicable): This form details Tax Deducted at Source (TDS) from other sources like banks on interest earned. 5. Form 26AS: You can download this from the Income Tax Department website. It’s a consolidated statement reflecting your tax payments and TDS throughout the year. 6. AIS/TIS: Annual Information Statement (AIS) or Tax Information Statement (TIS) from your employer, containing details of your salary income and tax deductions. 8. Bank Statements 9. Capital Gains Statements: If you sold any capital assets like stocks, mutual funds, or property during the year, you’ll need documents showing the sale price, purchase price, and any brokerage incurred. 10. House Property Statement: If you receive rental income from property, keep copies of the rent receipts. Apart from it you need Address of Property, Co-owner details, Rent agreement, if any, Ownership details, Interest certificate for loan, Pre-Construction Interest Details, Municipal Tax Receipts, Rental income details etc 11. Freelance Income Records: Maintain records of your freelance income, including invoices and receipts issued to clients. 12. Investment Proofs (for claiming deductions under Section 80C and other sections) 13. Interest Certificates on Fixed Deposits: These might be needed if claiming deductions for interest income. 14. Medical Insurance Premium Receipts: Keep receipts for health insurance premiums paid for yourself, spouse, and dependent parents/children (eligible for deduction). 16. Documents for Repayment of Education Loan. 17. Documents for Business or Profession: If you run a business or profession, maintain records of your income and expenses to calculate net profit. 18. Home Loan Statement 19. School fee receipt for tuition fees: The tuition fee component is allowed as a deduction under section 80C of the Income Tax Act for a maximum of two children. 20. Form-16B/ Form- 16C [itr, Income tax, documents, CA Sakchi Jain] #casakchijain #itr
Don’t forget to make a will! Making a will ensures that your assets are distributed according to your wishes, reduces the chances of disputes among heirs, and simplifies the legal process for your loved ones. When the amount claimed exceeds Rs 5 lakh, you will need some additional documents: 1. Stamped Letter of Indemnity (COS 540) from the claimant(s) plus one surety good for the amount. 2. Details of sureties for the compilation of the Opinion Report on Sureties. 3. Declaration in the revised claim form regarding the legal heirs of the deceased, sworn as an affidavit before the Judicial Magistrate or Notary Public. If there is a conflict between legal heirs, you will additionally need a succession certificate. [inheritance claim, legal documents, succession certificate, making a will, estate planning, property inheritance, legal heirs, claim process, will preparation, CA Sakchi Jain] #inheritance #legal #succession #will #estateplanning #property #heirs #claimprocess #willprep #casakchijain
Skipping your income tax filing could be your biggest mistake! 1. Set-off Restriction: If you don’t file your ITR or file your tax return late, you will not be able to carry forward and set-off these losses against future profits. Although, you can carry forward the losses relating to house property. 2. Credit Score Impact: A history of late ITR filing can negatively impact your credit score in some cases. This is because lenders might view it as a sign of financial irresponsibility. 3. Travel restrictions: In severe cases, the Income Tax Department can impose travel restrictions to prevent you from leaving the country until you file your ITR and clear any outstanding dues. 4. Visa and Travel Issues: You may face difficulties while applying for visas or traveling abroad. 5. Loss of Professional Certificates: In some cases, professionals like chartered accountants, doctors, and lawyers may face loss of professional certificates or licenses. 6. Disqualification for benefits: You might be disqualified from applying for certain government benefits or loan applications if you have a history of late ITR filing. 7. Prosecution: If you fail to furnish your ITR and your income tax liability is more than Rs. 25,000 you shall be punishable with rigorous imprisonment of minimum 6 months upto 7 years and with a fine. In any other case( i.e. tax liability is less than Rs.25,000) you shall be punishable with rigorous imprisonment of minimum 3 months upto 2 years and with a fine. 8. Loan Subsidy Schemes: Certain government loan subsidy schemes, particularly those targeted towards entrepreneurs or specific sectors, might require timely ITR filing as an eligibility criterion. 9. Scholarship Programs: Some scholarship programs, especially those offered by the government or public sector undertakings, might look at your tax filing history as an indicator of financial stability. [late ITR filing, set-off restriction, credit score impact, travel restrictions, visa issues, professional certificates loss, benefits disqualification, tax prosecution, loan subsidy schemes, scholarship eligibility, CA Sakchi Jain] #IncomeTax #ITR
Don’t use a credit card without watching this!! As per RBI circular dated October 26, 2023, you are entitled to a compensation of Rs 100 per day if your complaint (about updating/rectifying credit information) is not resolved within 30 days of filing complaint with the bank/lender or the credit bureau. If you only pay the minimum amount due each month, the rest of your balance carries over to the next month, which adds more interest and makes your debt grow fast. Also, cash advances might seem convenient, but they come with high fees that increase your monthly payments. It’s best to pay your full balance each month and avoid cash advances. Use your credit card wisely to keep your finances in check! [Credit card debt, Minimum payment, Interest charges, Cash advance fees, Managing credit cards, Credit card tips, Avoiding debt, Financial health, Smart credit card use, Paying credit card balance, CA Sakchi jain] #creditcarddebt #minimumpayment #interestcharges #managingcreditcards #creditcardtips #avoidingdebt #financialhealth #casakchijain
Book rooms at just Rs. 20!! Did you know you can rest comfortably at railway stations for just Rs 20 in a Retiring Room? AC rooms are also available for Rs 40, giving you a bit more comfort for a little extra. Although it’s a bit difficult to get the rooms at this price, you can still find them at a very low rate. It may also depend on the availability. Recently, at the 53rd GST Council meeting, it was decided that no GST will be charged on platform tickets and services like retiring rooms, waiting rooms, cloakroom facilities, and battery-operated car services. This means you get to enjoy all these essential services without any extra tax burden. [ retiring room booking, railway station room, irctc room booking, cheap railway rooms, ac retiring rooms, gst exempt services, irctc facilities, train journey tips, budget travel india, CA Sakchi Jain] #retiringrooms #railwaystationrooms #irctcbooking #rooms #traintravelindia #budgettravel #indianrailways #gstexempt #travelhacks #casakchijain
Don’t get scammed! Receiving an income tax notice can be very stressful for many people. However, it’s important to be cautious as not all income tax notices may be genuine. Fraudsters may attempt to scam you by sending fake income tax notices. The Income Tax Department sends a tax notice to individuals for various reasons: – If the taxpayer’s income tax return (ITR) is selected for scrutiny – Survey – Tax demand outstanding, etc. However, there are established guidelines and protocols to be followed in sending a tax notice. Always verify the authenticity of any notice you receive to avoid falling victim to scams. [Income tax notice, Fake tax notice, Tax notice verification, Income tax scam, Tax notice fraud, Genuine tax notice, Verify tax notice, Tax notice protocol, Income tax alert, Fake ITR notice, CA Sakchi Jain] #taxnotice #incometax #scamalert #taxfraud #fakeincometaxnotice #taxverification #incometaxindia #taxscam #verifytaxnotice #taxguidelines #Casakchijain
Don’t let your shares go unclaimed!! Did you know that many people forget about their shares and dividends? If they remain unclaimed for more than seven years, they get transferred to the Investor Education and Protection Fund (IEPF). The Ministry of Corporate Affairs (MCA) set up the IEPF to ensure that unclaimed shares can still be claimed by the rightful owners. Here’s what you need to know: – If your dividends haven’t been claimed for over seven years, your shares will be moved to the IEPF along with any interest. – The company will submit details of these transfers to the IEPF Authority, which keeps track of all accounts. – You can reclaim your unclaimed shares by applying to the IEPF Authority. For legal heirs, nominees, or successors: – Ensure the company completes the share transmission procedure and issues an entitlement letter before filing your claim with the IEPF. The company must prepare a verification report within 15 days of receiving your claim and submit it to the IEPF Authorities along with your documents. The IEPF Authority will review your claim and decide within 60 days after receiving the verification report. [unclaimed shares, IEPF claim process, how to reclaim shares, forgotten investments, Investor Education and Protection Fund, unclaimed dividends, share transmission, legal heir shares, MCA IEPF, unclaimed money, CA sakchi Jain] #UnclaimedShares #IEPF #ReclaimInvestments #ForgottenDividends #InvestorProtection #FinanceTips #InvestSmart #LegalHeir #UnclaimedMoney #MCA #casakchijain
Save 1 Lakh in taxes!! 💍💰 Money and Matrimony: Day 2! Let’s talk about the benefits of creating a Hindu Undivided Family (HUF) and how you can set one up! Here are the benefits of creating a HUF: Benefits of creating a HUF: 1. Separate Tax Filing: A HUF can file its own tax returns, providing tax benefits and savings. 2. Tax Benefits on Deposits: Deposits under various sections, such as Section 80C, 80D, 80G, etc., can attract tax benefits. 3. Remuneration Deductions: Remuneration to the Karta and other family members is an allowable deduction from the income of the HUF. How to Create a HUF: 1. Formal Registration: Register your HUF with the Income Tax Department by filing Form I (Application for Registration of a Hindu Undivided Family). 2. Execute a Deed of HUF: Create a deed detailing the members of the HUF and their respective roles. 3. Open a Bank Account: Open a bank account in the name of the HUF for financial transactions. 4. PAN Number: Obtain a Permanent Account Number (PAN) for your HUF. 5. Constitution: Understand that a HUF consists of a common ancestor, all of his lineal descendants, including their wives and unmarried daughters. Don’t miss out on the upcoming tips on managing finances in married life. Follow me for more insights! Got questions about setting up a HUF or other financial tips for newlyweds? Drop them in the comments below! 👇💬 [create huf, huf benefits, huf setup, family finances, tax savings huf, income tax marriage, marriage tax benefits, financial planning marriage, joint tax filing, tax deductions marriage, wedding financial planning, marriage savings tips, spousal tax benefits, matrimonial finances, marriage tax relief, money and matrimony, ca sakchi jain] #financialplanningforweddings #managingweddingexpenses #hufbenefits #taxsavingtips #marriagefinancetips #weddingbudgethacks #casakchijain #incometaxmarriage #marriagetaxbenefits #financialplanningmarriage #taxdeductionsmarriage #weddingfinancialplanning #marriagesavingstips #explorepage #marriagetaxrelief #moneyandmatrimony
Ladies, it’s essential to secure your family’s future with the right financial protection. Term insurance provides peace of mind by ensuring your loved ones are taken care of, no matter what. Here are a few reasons why you need term insurance: – Financial Security: It ensures your family’s financial stability in case of an unforeseen event. – Affordable Premiums: Term insurance is cost-effective and provides high coverage at low premiums. – Debt Protection: It can cover outstanding debts and liabilities, preventing financial burdens on your family. Take control of your future today. Visit the link in my bio to compare different policies from Policy Bazaar and find the term insurance plan that suits you best. [term insurance benefits, why women need insurance, women’s term insurance, financial security for women, affordable term insurance, insurance for mothers, family protection plan, best term insurance plans, term insurance comparison, CA Sakchi Jain] #terminsurance #womenandinsurance #financialsecurity #familyprotection #affordableinsurance #insuranceformoms #protectyourfamily #bestinsuranceplans #policycomparison #casakchijain #ad #collab
Don’t file your ITR without watching this!! Yes, you can claim both HRA (House Rent Allowance) and home loan deduction in India, subject to certain conditions. Here’s a breakdown of the rules: Eligibility: 1. You must be a salaried individual receiving HRA as part of your salary. 2. You must reside in a rented accommodation in the same city where you work. 3. You must have availed a home loan for a property in your own name or jointly with your spouse. Conditions for claiming both HRA and home loan deduction: 1. You must not own a house in the same city where you work. 2. You must not be living in the same house you own. 3. You must have a genuine reason for not living in your own house, such as a long commute or work-related requirements. How to claim both HRA and home loan deduction: Claim HRA exemption: You can claim HRA exemption up to a maximum of 50% of your basic salary, or the actual rent paid, whichever is lower. Claim home loan interest deduction: You can claim a deduction on the interest paid on your home loan up to a maximum of Rs. 2 lakhs (for self-occupied property) or Rs. 3 lakhs (for let-out property). [HRA, Home Loan, Tax Benefits, India, Salaried Individuals, Property, Income Tax, Rent Allowance, Deduction Rules, CA Sakchi Jain] #HRA #HomeLoan #TaxBenefits #India #SalariedIndividuals #Property #IncomeTax #RentAllowance #DeductionRules #casakchijain
