Gyanyatra

  I n the early 2000s, Silicon Valley Bank (SVB) was one of the most prominent financial institutions in the United States. With a focus on serving technology start-ups and venture capital firms, SVB had earned a reputation as a trusted partner for some of the most innovative companies in the world. However, that all changed in 2008 when the global financial crisis hit. As the market collapsed and lending standards tightened, SVB found itself in a precarious position. Many of its clients, including some of the most high-profile tech start-ups in the industry, were struggling to stay afloat. At the same time, SVB's own balance sheet was under significant pressure, as the bank had invested heavily in risky assets that were now losing value rapidly. Despite efforts to shore up its finances, including a significant recapitalization effort, SVB was ultimately unable to weather the storm. In 2009, the bank collapsed, becoming one of the  Highest-profile casualties of the financi...

  Key Highlight of Direct Taxes 1. Common IT form and grievance redressal system 2. MSME - avail benefit of presumptive taxation increased to 44AD to 3 crores Professionals u/s 44ADA - 75 lakhs  Provided receipt in cash doesn't exceed 5% 3. TDS only on payment for deduction 4. Co-operatives tax -15% Higher limit of 2 lakh per member for cash deposit in agricultural banks Higher limit of Rs. 3 crores on TDS for cooperative societies 5. Startups  To avail startup benefits from 31-03-2023 to 31-03-2024 6. 100 new joint commissioners for appeal 7. S.54 to S.54F capped at 10 crores 8. TDS on Online gaming -  9. TDS 30% to 20% on taxable portion of EPF 10. Extending funds for GIFT and IFSC * Personal Income Tax * 1. Rebate for income upto 7 lakhs u/s 87A in the new tax regime. 2. New tax regime from 0-3 lakhs nil 3-6 lakhs- 5% 6-9 lakhs 10% 9-12 lakhs 15% 12-15 lakhs 20% Above 15 lakhs- 30 % 3. Standard deduction for new tax regime for Rs. 15.5 lakhs or more -52,500 4. R...