how can i deposit 3 lacs on fixed deposit in bank and avoiding at maturity all taxes.People told me to put them by little amount in many banks in many FD opened not on the same day.....Can you give me details about that ?
135294
You can not conceal the income because its recorded in Bank. The best way is the investment in certain specified things to take the deduction.\n\n     Avoiding tax by legal means should be though and not avoiding by all means which will put you more in problem because there is both penalty and prosecution mechanism under I T Act.
325092
You can open an account in two or three banks.\nIt is legally allowed.\nCanara Bank people are trying to avoid work.\nGo try with HDFC Bank.They have 3 in 1 system.\nYou can have a savings a/c,Demat a/c and a trading a/c\nand you can link all the three.
34765
Banks can do that because they are able to lend the deposits it has to borrowers at higher interest rates than they pay. \n\nThere are federal regulations that govern how much a bank can lend.  But basically, the bank can turn around and lend your deposit several times.\n\nBanks can also borrow money from the Federal Reserve at prime and then lend that money to more borrowers.  They can also turn around and lend that money several times over.
609670
THIS IS SOOO IRRITATING.....I had a checking and "share" acct (with a $25 balance) at Credit Union, and ATM transaction overdrew the acct by $1.45. Silly me, had already opened up another acct at different bank so I figured I would let those accts sit a couple of weeks and close them out. WRONG, when I finally opened up a statement  I was in shock that the share acct was still there but the checking now had a balance of -$386.00! Now I thought that when you try to get more money then is available, the ATM transaction should decline, WRONG AGAIN, (oh did I mention I worked at a bank for 4 yrs :(). Got as far as you did at the branch and left more irritated then before, two days later the Sheriff shows up to serve me with Court Papers. I go to the bank because I can't afford to miss work at this point and ask the girl at the counter "after transferring the $25 from the share account, what do I need to pay?" She has me write a check for $350 + dollars, and says the accts are closed. End of story....nah...I get a call 2 days later from the branch manager saying that if I don't make the 50 mile trip by the end of business day to pay the additional $43 in fees, the teller left out, I would be in contempt of court............\n\nOpen a new account quick and hope the bank burns down. Keep your chin up :)
573199
value add tax\nhave know idea about tds
240931
Yes, they don't have to give you any money today, but they'll have 100 available on monday (the next business day)\n\nGovernment Regulation CC, says banks can place holds on checks. The first 100 to be available the next day. Local checks (by routing number not location, banks can be next door but still non-local) Are to be available in 2 business days unless an expection is made, if it's over 5,000 then the first 5000 is available in 2 days the rest in 7. NON LOCAL checks are different they are the first 5k in 5 days the rest in 11. They are doing this for your protection as well, you would hate to spend 30k and then find out a week later the check was bad.
348296
First, whatever you save, don't take out for whim purchases (try to keep it to true, true emergencies).  Keep putting in as much as you can afford and when you get your tax refunds back in April/May (based on your salary, I'd say you'd be due for a refund from the IRS and perhaps your state too), don't spend that money, save it (as you never has access to the money in the first place).\n\nGMAC Bank (primarily online, FDIC insured) offers 5.16% interest on their Money Market Accounts (MMA) with roughly a 5.25% Annual Yield (this varies as they change up their interest rate when the Feds do).  They won't slash your interest after six months (or after a certain period of time) although you need to keep a Daily Average of $500+ with them.  It's also a great vehicle to prevent spending since you get charged $10 for every withdrawal over the limit of three (3) you make in a month although you're free to deposit as much as you like whenever you like.  You can set-up automatic bank-transfers and direct deposit very easily.
407705
hi, well 'posting' is quite a broad term and I presume you mean 'posting a transaction' or 'posting an entry'. Not trying to sound like your teacher; but 'posting' will depend on each kind of transaction. There are 1) assets, 2) liabilities, 2) equities, 4) revenues and 5) expenses. The 1st three items are reflected in the Balance sheet while the last two in the income statement. Asset and expenses, when increased are DEBIT, when they decrease are CREDIT (DEBIT and CREDIT are two sides of your Journal, the right side is DEBIT and the left side is CREDIT). On the other hand, liabilities, equities and revenues, when increase are CREDIT and when decrease are DEBIT (so they are opposite). eg. If you purchase a car for $10,000, your asset that is your car increases by $10,000 and another asset your cash decreases by $10,000. So car is Debit and cash is Credit, both by $10,000. Similarly you could buy an asset on a loan, so your liability increase which is a Credit and so does your asset which is a Debit. Remember whenever there is a (or more than one) Debit, there is a (or more than one) Credit and both (or all) must be of the same amount so that if Debit is PLUS and Credit MINUS the sum should be ZERO.\n\nFORWARD - well, every month end or year end, you total all your debits and credits in a particular account eg. Cash eg. in August you received $1,000 and at the start of August (or end of July) you had $200 (which means Debit $1,200) and in August you spent $700 (which means Credit $700) then you have a Debit balance of $500. As I said earlier the Journal has two sides for each account. At the end of the month or year every account is closed (as in our example 'cash account' was closed). This is done by balancing the account, eg. in the eg. above the Debit side is $1,200 and Credit is $700, so we will add $500 to the Credit side (this addition to Credit side is called a 'Debit balance' and if it was made to the Debit side it would have been called a 'Credit balance'. This Debit balance (as in our eg. $500) will be forwarded to the next month September. So when you will start the Cash account for September you will drag the 'Debit balance' (which was actually on the Credit side last month to the Debit side in September. It is basically a way to show that what you had at the end of last period you start with the same items (which is quite obvious, wonder why they chose such a tough way of doing it). It must be noted that only Balance sheet items (asset, liabilities and equities) are forwarded. Expenses and revenues are not forwarded they are closed (taken to the income statement).\nHope this helps, cheers.
533566
To me the best way to save money is put aside some amount every week systematically you can't miss one deposit, then forget about that money is there, there is no other way around unless you have several thou to play with..☺
550173
I'm not sure where you are, but I know that locally, in Ohio, it is illegal to put any deposits into an interest bearing account.  All earnest money, which it sounds like what this is, is required to go into a broker's non-interest bearing account.  You may want to double check about it going into an account that bears interest.
191385
It is not Illegal to deposit more than $10,000.00 in cash in one day.\n\nHowever, if you do deposit more than $10,000.00 in cash in one day you move yourself to the "black list" of the United States of America Government.\n\nThis means you are now a potential\nTerrorist, Drug Dealer, Arms Dealer or just someone evading Taxes.\n\nThe IRS does not have enough resources to audit 300,000,000.00 Citizens and they try to target just the wealthy ones.\n\nImagine there is a list with William H. Gates III at the Top (The Richest Man Alive) and the name of the someone broke at the Bottom.\n\nThey are not going to go after the taxpayer 300,000,000 because even if they find he has not paid enough taxes what are they going to take away from him if he is broke.\n\nWhen you deposit $10,000.00 in one day (It takes more than 200 Days of Minimum Wage to make that kind of money) you move your name to a position very high on the list (Not as high as Tom Cruise that maybe deposits $100,000.00 in one day but high enough)\n\nThat is not wise.\n\nI strongly suggest you to always deposit $9,000.00 or less PER DAY.
204810
OK, I have been in banking for 13 years and I cannot understand your question- Am going to try to explain what\nI THINK I understood. \n3 month cd or treasury bills, the rate you are quoted is the APY 4% - that is the annual percentage yield - the interest you would make on that money if it was to stay in that account for 12months at that rate. But since it is a 3- month, you will have to take the money out and invest it in something else. You cannot compound it because the deal expires after 3 months - Now does that make sense ?
484593
You can open a community account and you will pay reduced fees if you are non profit making for this element of the business.  You should have more than 1 signatory on the account, maybe yourself and any one of 2 others.  You and they can then write cheques and withdrawal slips with the protection a single named account does not have.  Most of the banks and building societies run them, Barclays do a good one and so do Nationwide.  You will need to go in though and not do it online.
358328
Go to http://finance.yahoo.com/taxes  \nHere your will find lots of info about tips, dates, guides.\nI made it my homepage, and never mist another deadline.\nUse tax Act (is free) or Turbo tax and dont miss the deadline next time.\nHope you find this site as helpful as it was to me!
255643
Yes, I have been using Ing Direct for years. It is totally safe and secure by FDIC. You can link more than one savings accounts from other banks but only drawback is you do not get an ATM/Debit Card for quick access. But transfers can be done in a day. So far havent had any problems. Hope this helps.
645743
The banks and any other financial institution are required to notify the IRS of any deposit over $5K.  Period.\n\nAnd the odds of finding anyone to cash a check that size are nil.\n\nSo, as long as you are certain it doesn't qualify as taxable income, why sweat it.\n\nNo one other than the bank is going to know.\n\nNext time you want to hide income, demand cash.
422681
Generally, you can have a reserve account for taxes in a business if the business has profit.  This is done by crediting a tax payable account (balance sheet) and debiting a tax expense account (Income statement).  More information is needed, like what kind of taxes are you trying to accrue for.  Is your business cash or accrual basis. \n\nFor income tax basis, these taxes are accrued at year end only - for an accrual basis entity.\n\nfor cash basis - you would debit the expense when the taxes were paid.\n\nFor taxes such as sales tax or payrll tax, these taxes are generally accrued at month, period or year end regardless if the entity is accrual or cash basis.\n\nPlease consult your businesses tax advisor for further explanation.  If you do not have a tax advisor, please be sure to find a reputable CPA firm.