RVG Assoicates LLP

Bombay Oxygen stock moved from Rs 10,000 to Rs 24,500 in last one month due to the requirement in second wave of COVID-19.

The funny thing is it's a company, they don't even make Oxygen. They just have Oxygen in their name.

Proper research should always be undertaken before investing in stocks. But that is rarely done. Investors generally go by the name of a company or the industry they belong to. This is, however, not the right way of putting one's money into the stock market.

Income tax if switched jobs in middle of the year

When you leave your previous organization make sure that you ask for Form 12B. If they aren’t able to or they don’t give it to you, you can download it from the income tax website and fill it up looking at your salary slip. And, when you are at your new workplace, you can submit this to the new employer

Furnishing Form 12B is not mandatory, it is a better option. The other alternative is to calculate final tax liability and pay as advance Tax

** Transfer of EPF

Any withdrawal from the EPF is not taxable if you have rendered five years of continuous service. It is best to transfer your existing EPF to your new employer

For this purpose, all that the new employer is required to do is verify the Universal Account Number. Such a transfer is not taxable and is treated as continuity of service

** Gratuity

This is payable only if you have completed a continuous tenure of at least 5 years. For non-government employees, the maximum tax exemption is the least of (i) actual gratuity received; (ii) Rs 10 lakh; (iii) 15 days salary for each completed year of service or part thereof.

** If you do not disclose salary received from former employer to new employer, any shortfall in TDS will need to be paid by you with interest

Wish you a very Abundant, Peaceful, and Prosperous New Financial Year 2021-22.

We are humbly pleased by your support, as we grow with your growth.
While every year we wish to add more services and improved offerings, it is the trust that our clients held with us that has helped us to grow to this stage.

We thank you for it and we pledge to support you in every possible way that we can as a consulting partner.

Please have a look at the critique stating Key changes in FY 2021-22.

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RVG Assoicates LLP The core business of our firm is to provide comprehensive package of accounting, secretarial, taxation and business advisory services to Corporate Clients. In addition, services are provided to a number of Trusts and a variety of commercial and private cl