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Income Tax Exemption: Big relief for taxpayers!

New order issued regarding tax exemption, These people will get exemption of Rs 1.5 crore in tax.

Recently, while pointing out the tax exemption given to these people, the government said that they will get a rebate of at least one and a half crore rupees, which will benefit them a lot. Let’s know the whole news in detail.

 

Economic think-tank GTRI said that the GST Council should also think about raising the tax exemption limit to Rs 1.5 crore per annum, as well as doing away with the need for state-wise registration. The Global Trade Research Initiative (GTRI) said in a statement that the GST Council, which is the policy making body for GST, should now focus on the need to maximize benefits by simplifying tax compliance. For this, he has also suggested seven reforms.

GST

 

Among these suggestions, the proposal to give GST exemption to firms with an annual turnover of up to Rs 1.5 crore is the most important. GTRI said that doing this will prove to be a game-changer for the country’s micro, small and medium units and they will be able to give new employment and accelerate growth. At present, only product firms with an annual turnover of less than Rs 40 lakh are exempted from GST registration. On the other hand, in case of service firms, this scope is limited to Rs 20 lakh turnover.

 

GST rate

 

GTRI said, “Of the total registered firms, the number of firms with an annual turnover of less than Rs 1.5 crore is about 84 percent. But their share in the total tax collected is less than seven percent. If the tax exemption limit is increased to Rs 1.5 crore, If it goes, the burden on the GST system will come down and they will have to deal with less than 23 lakh taxpayers.”

 

GST Network

 

There are more than 1.4 crore firms registered on the GST network. Thus it is the largest global forum on indirect taxes. GTRI said that by reducing the burden on the GST network, the concept of matching bills and receipts will be implemented and the problem of fake bills and tax evasion will also go away to a great extent. The gains from this would far outweigh the seven per cent tax loss incurred by excluding firms with a turnover of up to Rs 1.5 crore.

 

GST Number

 

Along with this, the think tank has requested the GST Council to look into eliminating the need for state-wise registration. At present, if a company does business in ten states, then it will have to take GST number everywhere. This makes it difficult for them to take input tax credit.

How to Use Instagram: From DigiHunter Beginner’s Guide.

Over the past few years, Instagram has seen exponential growth — from one million users at its inception to over one billion in 2022.

If you’re interested in getting an Instagram account, or just created one but aren’t sure how to use it, you’re in luck. Here, we’re going to cover all the basics, so you can learn why Instagram is the top social media platform for engagement today.

It’s hard to remember a time before Instagram. At one time, “Do it for the ‘gram” was a common saying, which meant, essentially, “Do something so we can take a picture and post it to Instagram.”

Since then, Instagram has placed a larger and heavier emphasis on video. So you no longer hear the phrase “Do it for the ‘gram.” I bet, though, that a second version of the phrase will soon follow. (Maybe “Do it for reel?”)

“If you’re not part of the one billion users on Instagram, you might want to reconsider. The app is a great chance to engage with top brands and stay a part of friends’ lives. When I want to see how my college friends are doing, I don’t check Facebook, I check Instagram. Plus, you can follow your favorite celebrities or political figures to see candid photos of their everyday lives.”

“Additionally, it’s a phenomenal platform for investigating what other brands are doing — for instance, Nike uses the Instagram Stories’ feature to promote inspirational athlete stories you won’t find anywhere else.”

“If you’re ready to sign up for Instagram, follow these steps below: Go to the Instagram site on your desktop, or download the Instagram app from the App Store (iPhone) or Google Play Store (Android).If you’re on desktop, click “Log in with Facebook”, or fill in the form with your mobile number or email, name, username, and password. Then click “Sign up”. On Android, click “Sign Up With Email or Phone Number”. On iPhone, select “Sign Up”. Enter your email address or phone number, then click “Next”. Alternatively, you can sign up with your Facebook account. Once you’ve filled out your username and password, you will be instructed to fill out your profile info. Then, tap “Done”. If you register with Facebook, you’ll need to log into your Facebook account if you’re currently logged out.”

“How Do Instagram Notifications Work?

 

When your account is created, you’ll want to adjust your notifications so you only receive the information you want. For instance, you can choose to receive notifications when you get likes from everyone — but, alternatively, you might decide to only receive notifications when you get a like from someone you follow. Or, you might turn off notifications for likes altogether. You can adjust notifications to “Off”, “From People I Follow”, or “From Everyone”, for the following categories — Comments, Comment Likes, Likes and Comments on Photos of You, Follower Requests, Accepted Follow Requests, Friends on Instagram, Instagram Direct, Photos of You, Reminders, First Posts and Stories, Product Announcements, View Counts, Support Requests, Live Videos, Mentions in Bio, IGTV Video Updates, and Video Chats. If you’re overwhelmed by that list, I get it — I am, too. If you’re unsure what notifications you want to receive, you might start with your notifications on “From Everyone”, and if certain notifications begin to annoy you, you can turn them off later.”