What is Transparent Taxation scheme?
On Tuesday, Prime Minister Narendra Modi launched the “Transparent Taxation — Honouring the Honest” platform, unveiling a raft of measures that aim to ease the compliance burden and reward honest taxpayers. Broadly, the three pillars of the platform are faceless assessment and appeal, to eliminate the physical interface between the tax department and the taxpayer, and a Taxpayers’ Charter that delineates the rights as well as obligations of the taxpayer. In a country with a high degree of complexity of the tax system, which often comes in the way of compliance, the attempt to make it “seamless, painless and faceless” is welcome.
What is the Taxpayer Charter?
The income tax department is often accused of being overzealous in its pursuit of meeting the budgeted tax collection targets. This often translates to assessing officers raising unreasonable demands which leads to tax disputes and long-drawn-out litigation.
In the past few years, the CBDT has carried out major tax reforms in the country in the direct taxes. In 2019, the Corporate Tax rates were reduced from 30 per cent to 22 per cent and for new manufacturing units, the rates were reduced to 15 per cent. Dividend distribution Tax was also abolished.
The main aim of the tax reforms in the reduction rates of the taxes and on the simplification of direct tax laws to bring more transparency with the newly introduced Document Identification Number (DIN). Every communication with the Department will now carry a unique document identification number.
To increase the ease of compliance for taxpayers, the Income Tax Department has allowed the prefilling of income tax returns to make compliance more convenient for individual taxpayers. Compliance norms for startups have also been simplified.
The Income Tax Department has also introduced ‘Vivad se Vishwas Act, 2020’ for settling pending tax disputes. To reduce taxpayers grievances, monetary thresholds for filing of departmental appeals in various appellate Courts have been raised. Also, digital transactions and electronic modes of payment are promoted.
1- Faceless Assessment
2- Faceless Appeal
3- Taxpayers’ Charter
Key highlights of Transparent Taxation- Honoring the Honest launch event
1- As announced by Prime Minister Modi, Transparent Taxation- Honoring the Honest will have faceless assessments, faceless appeal and taxpayer charter. The faceless appeal will come into effect from September 25 while the faceless assessment and taxpayer charter will come into effect starting today.
2- Prime Minister Modi further stated that banking the unbanked, securing the unsecured, funding the unfunded is part of new governance.
3- As per Prime Minister Modi, every rule, law and policy in his governance is taken out of the power centric approach and is subsequently converted into People-Centric and Public Friendly.
4- Prime Minister Modi stated that earlier decisions were taken either under pressure or were taken desperately and were named reforms. However, reforms in Modi governance is based on policy and not on piecemeal. Reforms cannot be stopped as it is an infinite process.
5- Prime Minister Modi stated that the tax system of India was constituted in the period of slavery. However, after India gained its Independence, a few changes came into effect but a large part remained unchanged.
6- Prime Minister of India further stated that the taxes have been reduced in our country along with the complex tax-paying process for the ease of taxpayers. Under the new tax regime, there’s no tax up to the income of Rs. 5,00,000. Also, the tax has been reduced in all the tax slabs. As per Prime Minister Modi, India is one of the lowest tax consuming countries in the world when it comes to corporate taxes.
7- The tax system of India should be seamless, painless and faceless. The seamless term here states that the IT Department must work to solve the problems of the taxpayers instead of confusing them and creating problems.
8- Prime Minister of India requested the citizens of the country to pay the taxes because this how the system works. He further added that taxpayers charter is a big step towards the development of the country.
9- With the introduction faceless assessment, every taxpayer of the country is assured fair, courteous and just behaviour. As per PM Modi, it is now the responsibility of the IT Department to take care of the taxpayer’s dignity. The department must trust the taxpayer and should not doubt anyone without proofs.
10- As per Prime Minister, in the FY 2012-13, out of all the tax returns filed, the scrutiny of 0.94 per cent cases was done whereas, in the FY 2018-19, the scrutiny of only 0.26 per cent cases was done. This clearly indicates that the scrutiny of the cases has reduced by 4 times under the current government.
11- In the last 6-7 years, the number of people who have filed income tax returns has increased by about two-and-a-half crores which are still less for a country having a population of 130 crores.
12- PM Modi further requested the citizens that those who can pay taxes but are not under the tax slabs must come forward to pay taxes to achieve the vision of self-reliant India.
Locate a decent online stock merchant and open a record. Ended-up acquainted with the design of online share trading and to exploit the free exchanging apparatuses and exploration offered to customers as it were. A few agents offer virtual exchanging which is helpful because you can exchange with play cash.
Have a habit of reading good stock trading articles | online share trading
Articles are an awesome asset for instruction. Our free Stock Education page here on online share trading records more than 100 special speculation articles separated into classifications. Suggested sites for venture instruction are investopedia.com and Google seek.
Discover a trading Guide
A guide could be a relative, a companion, a past or current educator, associate, or any person that has a crucial comprehension of the online share trading system. A decent coach will answer questions, assist, suggest valuable assets, and keep spirits up when the business sector gets extreme. Every effective speculator of the over a significant period have had guides amid their initial days.
Gatherings can be another hot-spot for inquiry and answer. Simply be watchful of who you listen to. Most by far of members are not proficient brokers, not to mention beneficial merchants. Regard exhortation from discussions with substantial measurements of salt and don’t, under any situation, take after exchange proposals.
Read and stay connected with the stock market
News locales, for example, Yahoo Finance and Google Finance serve as an awesome asset for new financial specialists. For top to bottom scope, look no more distant than the Wall Street Journal and in online share trading. By checking the business sectors every day and perusing feature stories speculators can open themselves to patterns, outsider investigation, also financial ideas, and general business. Pulling cites and watching central information can likewise serve as another great wellspring of introduction.
There is a variety of stocks are available to pick for intraday trading it’s share market basics. But as we all know that intraday trading is all about buying and selling or selling and buying of stock within each day.
Rules for choosing stocks for day trading share market basics
- Liquidity is the important thing that has got to be kept in mind during the choiceof the proper stocks for intraday trading. Stock with liquidity features a huge volume whereby large quantities of stocks are often buying or sell with none significant price change.
- The other important rule for choosing the stock for intraday trading is to remain faraway from volatile stocks. once you accompany the volatile stocks for day trading, there are high chances of the trigger of stop-loss.
- Select the stocks that are highly correlated with major sectors and indexes. When the sectors and indexes are getting into an upward direction, the worth of stocks also increases. you’ll select the stock from the world showing a serious upward or downside movement.
- one of the advantages of choosing stock from the sector is you’ll easily Trade with the trend of the market.
Moving with the trend of the market is usually gives good leads
- to intraday trading.i.e., when the market is within the Bullish Run, attempt to determine stocks that have the potential to arise. Same for the bearish market, identifying stocks that are likely to say no is suitable.
- Do intraday trading only in companies where there’s enough information available easily to the general public. It means the businesses with high transparency have a far better chance to travel into your stock selection list.
- Focus on the stocks that also are there within the future and option. Because these sorts of stocks are extensively analyzed by the analyst and also you’ll get more information about such sort of stocks.
The Indian stock exchange is one of the foremost popular investment avenues. The participants within the sort of traders and investors are increasing regularly to earn higher returns. Individuals are now opting to become a full-time trader to earn regular income through share market investment.
Intraday share trading requires the proper set of skills and technical knowledge to achieve success . to help you in earning higher returns through share trading, we’ll list down some tips during this article.
Tips for Earning Higher Returns from share market investment
Knowledge is King
Apart from knowing the technical analysis strategies, it’s important to stay track of the newest news and developments of the stock exchange. confirm to finish your homework and keep all the knowledge before share market investment. Scan for information on different websites. This approach will assist you in making higher intraday profits.
Focus on Few Stocks
A smart trader is one who can specialize in a little universe of share market investment and take the proper trade accordingly. By that specialize in a couple of stocks, you’ll build expertise about the technical levels, fundamentals, F&O data, and lots of more aspects of a specific script. By committing yourself on few stocks you’ll be ready to employ more capital with higher conviction. Therefore, to earn higher profits spend some time and energy on a few stocks.
Focus on Volatile Stock
Intraday trading is all about taking the trade and squaring it off on an equivalent day. This trade is often successful as long as there’s high momentum or volatility available price. Pick stocks with a better beta for trading as they might offer you ample opportunities to enter and exit with profits. By that specialize in high momentum stocks that show good swing within the share market investment will assist you in making profitable trades.
Do Not Fear To Short
Most traders prefer taking a long position within the market. an extended position is purchasing share market investment at a lower cost and selling it at a higher price. When traders prefer just one sort of trade there’s an honest probability of incurring losses when the market is in a bear run. Therefore, the trader must not fear to short the stock i.e. sell the stock at a better price and buy it again at a lower cost when the worth of the stock falls. this manner the trader is going to be ready to cash in of both rising and falling markets to form good returns.
Intraday trading charts give information which may be a combination of price, volume, and time intervals to learn more is stock market courses. The chart of a specific best time-frame for intraday to shows the worth movement of that specific time-frame. Now, let’s see the simplest charts for intraday trading:
these Charts are a simple sort of intraday trading chart that provides the sole price. It is often switched to any time-frame but whenever frame, this chart only displays the price . for instance, in 5- minute time-frame, each price after 5 – minutes of your time interval will then be connected to the subsequent price with the endless line.
these charts are one sort of time-based day trading chart. for every interval, open, high, low, and shut prices are wont to build a price bar for the precise time-frame. Bar charts also are referred to as the OHLC charts. learn more with stock market courses As you’ll see within the below image each bar is formed from a vertical line that joins the high and low price.
these charts are one among the foremost popular sorts of intraday trading charts. There are four prices in candle open, low, high, and shut. For a 1-minute time-frame, stock market courses. you’ll see a 1-minute candle for five -minute time-frame candles are generated for 5 minute period of time. A candle is consists of upper tail, lower tail or wick, and body. The green candle is additionally called a bullish candle show the worth is occupation. an upward direction and therefore the red candle (Bearish candle) indicates the worth is decreasing.
these charts are vital especially for intraday trading because these charts show the extent of market activity. Volume within the chart indicates the number of stocks is placed at a time, with the mixture of volume and candlestick chart, traders can easily get the proper prediction on the worth movement of stock.
they word comes from the Japanese word ‘renga’ which suggests bricks. Renko charts will only show the worth movement. a replacement brick is made when the worth moves quite the brick size faraway from the preceding brick size. stock market courses Renko charts highlight the trends only it doesn’t show the precise price action. Therefore the Renko charts are useful to spot intraday trends efficiently and also help to spot key support and resistance levels.
What Affects Market Share?
We all wonder what affects Share Market.
It is now widely recognized that one of the main determinants of business profitability is stock market. Under most conditions, endeavours that have accomplished a high portion of the business sectors they serve extensively more beneficial than their Smaller share rivals. The share market decides share costs. While seller supply and buyer request meet in the market, there is no ideal condition that tells financial specialists precisely how offer costs will carry on. In any case, there various elements that can move stocks up and down. Stock market trading is a very big game at the current economy. Sometime stock market trading also affects the stock market. Few other factors that effect that are :
In case of lower interest rates, demand for funds is higher and therefore the subsequent demand for shares rises. On the opposite hand, high interest lowers the demand for funds and therefore the demand for shares is lower.
Market players have an impression on stock prices. With more bulls than bears, the costs increase. With more bears than bulls, share prices decline.
Management profile features a significant effect on company success and stock prices. If management consists of experienced professionals with a proven diary , stock prices are likely to be higher. If the management that takes over a corporation lacks integrity, share prices tend to fall.
Fluctuations within the economy feature what are commonly mentioned as booms and depressions. Under favorable conditions share prices are at their peak and their lowest point is experienced during depressions. Stock prices gradually rise during recovery and fall during recessions.