Centre’s Initiative to Enable Affordable Large-Screen TVs and ACs in India The Government of India is embarking on initiatives to make large-screen televisions (TVs) and air conditioners (ACs) more affordable and locally produced. This strategic move, driven by new incentives, revisions to customs duties, and public procurement programs, aims to bolster the local electronics and appliances industries. Key Initiatives Abolition of Customs Duties on TV Open Cells Current Status: Duties on open cells for television […]

Understanding UPI Lite: A Facilitator of PIN-less Offline Digital Payments Introduction to UPI Unified Payments Interface (UPI) has revolutionized the financial landscape worldwide, emerging as a preferred method of alternative payments. From April to July 2024, UPI transactions reached an impressive ₹80.8 lakh crore ($964 billion), marking a 37% increase from the previous year. To further accelerate the adoption of UPI, the National Payments Corporation of India (NPCI) has introduced UPI Lite, facilitating small-value transactions […]

Business Credit Cards: A Comprehensive Guide Business credit cards offer unique advantages tailored to the needs of self-employed professionals, corporates, and small to medium enterprises (SMEs). Unlike personal credit cards used for individual expenditures, business credit cards cater specifically to business-related expenses. This in-depth guide provides a detailed comparison between business and personal credit cards, outlines the benefits of business credit cards, and reviews popular choices available in the market.   Key Differences: Business vs. […]

Comprehensive Approach to Income Tax Reform in India The Government of India has embarked on a significant mission to reform its Income Tax code, delivering on its budget promise by seeking public input on four pivotal reform areas: Simplification of language Reduction of litigation Easing of compliance burden Elimination of obsolete provisions Simplifying Complex Tax Legislation Revamping archaic tax elements and using clearer language can significantly reduce confusion. Simplified compliance means fewer complexities for taxpayers, […]

Understanding Long-Term Capital Asset Status for Allotted Land After 10 Years Navigating the intricacies of financial regulations can be challenging. At Estabizz Fintech Private Limited, we are committed to guiding you through each step with clarity and confidence. Here’s an in-depth analysis of when your allotted land becomes a long-term capital asset, including essential insights into indexation and capital gains tax. Timeline of Land Allotment and Ownership 2014: Application submitted to the housing board for […]