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Form 16 is a TDS certificate issued to you by your employer, which contains a detailed record of the income earned as salary and taxes paid on it, in a financial year. It serves as a proof that the employer has deducted¬†TDS from your salary¬†and deposited with the I-T Department. Read this guide to learn about Form 16 to file your tax return easily and accurately. Table of contentsWhat is the use of Form 16?…

Indira Gandhi National Old Age Pension Scheme was was launched by Ministry of Rural Development. All persons of 60 years and above (revised downwards from 65 in 2011) and belonging to below the poverty line category according to the criteria prescribed by the Government of India time to time, are eligible to be a beneficiary of the scheme. It is a part of National Social Assistance Program (NSAP). Benefits Member of BPL family aged 60…

National Family Benefit Scheme implemented by Ministry of Rural Development. he scheme aims to provide a lump sum family benefit of Rs 10,000/- to the bereaved households in case of the death of the primary breadwinner irrespective of the cause of death. The scheme is applicable to people in the age bracket of 18-64 years. Government of India has decided to revise the eligibility age from 18-64 years to 18-59 years under the ongoing…

Atma Nirbhar Bharat Rozgar Yojana is a scheme to incentivise jobs creation in the country. Under the scheme, govt will give subsidy to establishments for new hirings. The subsidy would be to cover for provident fund contributions by employees as well as employers for two years. The scheme is launched to boost employment in formal sector. The scheme is to be operational for the period 2020-2023. Beneficiaries An employee drawing monthly wage of less than…

Rental for Warehousing scheme was launched by the Ministry of Textiles. This scheme aims for providing financial support for renting warehouses abroad. Agencies abroad are increasingly welcoming Indian clients to rent space and use them for storage and warehousing, provided they are paid properly. However, when we consider small start-ups, we realize that the turnover would not be enough to provide them with a sustainable livelihood after paying heavy rents on the space. Nature of…

Mega Cluster scheme was launched by the Ministry of Textiles. Mega cluster is an approach to scale up the infrastructural and production chain at Handicrafts clusters. It aims the clusters which were remained unorganized and have not kept pace with the modernization and development. Benefits Infrastructural improvement, modernization of the tools, machinery, process and product diversification and creating strong brands. Innovative designs as well as technical know-how, furthered by brand building of the native products…

E-Travel Trade Recognition was introduced by the ministry of Tourism. The scheme aims in granting approval to hotel projects from the point of view of this suitability for international tourists. The hotels were classifies under the star system into six categories from star one to five star deluxe. It was done by a classification committee set up by the Ministry. The Ministry has a scheme of approving Travel Agents, Tour Operators, Adventure Tour Operators and…

Sustainable Finance Scheme was introduced by Small Industries Development Bank of India (SIDBI). The scheme was introduced for funding sustainable development projects that contribute energy efficiency and cleaner production but not covered under the international or bilateral lines of credit. Under this scheme all sustainable development projects such as renewable energy projects, Bureau of Energy Efficiency (BEE) star rating, green microfinance, green buildings and eco-friendly labelling, etc. are applicable. Eligibility The acceptable standards for this…

Biotechnology Industry Research Assistance Council (BIRAC) is a not-for-profit Public Sector Enterprise, set up by Department of Biotechnology (DBT) under Government of India. It act as an Interface Agency to strengthen and empower the emerging Biotech enterprise to undertake strategic research and innovation, addressing nationally relevant product development needs. BIRAC has initiated several schemes, networks and platforms that help to bridge the existing gaps in the industry-academia Innovation research and facilitate novel, high quality affordable…

National Scheme of Welfare of Fishermen is a centrally sponsored scheme. It plans to provide financial assistance to fishermen for building houses and among other things. For housing, state governments can ensure, an equitable distribution of houses among all villages in proportion to the number of eligible fishermen. The area of the plinth and the cost of building a house would be limited to 35 m2. mts and Rs 40,000 / – respectively. The land…