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How to Pick Mutual Funds That Beat the Market

  Smart Strategies for Investing in Mutual Funds: A Guide to Maximising Your Returns One of the most well-liked investing options for people looking for expert management and diversification without having to choose individual equities is a mutual fund. One of the easiest ways for people to accumulate wealth over time is through mutual fund investments. Mutual funds combine the capital of numerous individuals to invest in a diverse portfolio of stocks, bonds, and other securities, in contrast to direct stock market investing, which necessitates considerable time, study, and risk tolerance. Mutual funds are a well-liked option for both new and experienced investors due to their expert management and diversification. But merely investing in a mutual fund and crossing your fingers seldom yields the best outcomes. A comprehensive approach that matches the appropriate fund selection and management strategies with your financial objectives, risk tolerance, and investment timeline is nece...
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Taxpayer Charter | Know what is the specialty, duties and rights of officials and taxpayers

 

Taxpayer Charter | Know what is the specialty, duties and rights of officials and taxpayers



The government announced the implementation of the taxpayer charter on August 13, 2020, taking important steps towards tax reforms. It clarifies the rights of taxpayers along with the duties of officers of the tax department. The tax department will treat each taxpayer as an honest taxpayer until something is proved wrong and provide them fair, courteous and appropriate services. This arrangement is given in the Taxpayer Charter, announced on August 13, 2020. Also, the charter also requires that taxpayers pay taxes on time, be honest and comply with the rules.

 

Prime Minister Narendra Modi launched the 'Transparent Taxation - Honoring the Honest' platform, advancing reforms in the tax system. Under this, a faceless assessment and taxpayer charter has been introduced between taxpayers and officials. It has also announced a faceless appeal which will come into effect from September 25, 2020.

 

The taxpayer charter defines the tax department's commitment and expectations from taxpayers. Tax officials will now commit to a 14-point charter which only includes a collection of arrears (tax) as per law. At the same time, taxpayers will also have to fulfil their responsibility and they will have to meet the six-point requirements of the Income Tax Department, including honesty and compliance with rules.

 

Finance Minister Nirmala Sitharaman announced in the 2020-21 budget that the Central Board of Direct Taxes (CBDT) would bring a taxpayer charter. This will ensure trust between the taxpayers and the tax department and remove various kinds of problems. Will also increase the efficiency of the department. The charter states that the Income Tax Department will hold its officers accountable for their actions. The department will provide fair, courteous, prompt and fair treatment as well as professional support to the taxpayers. According to this, unless the officer has a sound basis for disturbances, the taxpayers will be treated as honest taxpayers. The charter prohibits tax authorities from disclosing information about taxpayers and emphasizes respect for their privacy. However, tax authorities can give information about the taxpayer if required under the law.


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