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  Indian Banking System Introduction Banks play an important part in driving a country’s economic progress and running the financial sector. The banking system is important in promoting economic growth by channelling funds into investments and increasing resource allocative efficiency. An efficient Indian Banking System is increasingly seen as a necessary prerequisite for the country’s development. These institutions, which serve as a hub for savers and investors, are at the heart of India’s financial system. The Indian banking system is governed by a central bank known as the Reserve Bank of India (RBI), which controls the entire Indian financial sector. Structure of Indian Banking System The Indian Banking System includes commercial banks, regional rural banks, urban cooperative banks, and primary agricultural credit societies. India’s modern banking began in the 18th century. The State Bank of India is the biggest and oldest surviving bank. It began as the Bank of Calcutta...

  AI is revolutionising Accounting How AI is revolutionising Accounting The world of accounting is experiencing a major shift. Rapid advancements in technology, particularly the rise of Artificial Intelligence (AI), are transforming the way things are done. This isn’t just about making accounting more efficient and precise, it’s about creating a whole new era for the profession. The need for smarter, faster, and more accurate financial processes is driving the adoption of AI in accounting. Businesses are looking to streamline operations, and accountants are seeking ways to boost their productivity. AI steps in as a powerful partner, automating routine tasks, analysing mountains of data, and providing valuable insights. It’s not here to replace human accountants, but rather to empower them to focus on what they do best: strategic thinking and solving complex problems. In the digital age, AI is helping accountants become even more valuable players. The evolution of Accounting...

  Introduction to Computer Science Computer Science is a vast field encompassing the study of computers, their processes, and the various ways they can be used to solve problems. It integrates both theoretical and practical approaches to computing and is fundamental in numerous industries today. Reference: https://pwskills.com/blog/computer-science-for-beginners/

Under Income Tax, the  residential status  of a person is one of the most important criteria in determining the tax implications. The residential status of a person can be categorized  into: 1)       Resident and Ordinarily Resident (ROR),  2)       Resident but Not Ordinarily Resident (RNOR) and  3)       Non- Resident (NR)   1)       Resident:   A resident taxpayer is an individual who satisfies any one of the following conditions: ·            Condition I  (Resides in India for a minimum of 182 days in a year) – Not satisfied ·          Condition II  (Resides in India for a minimum of 365 days in the immediately preceding four years and for a minimum of 60 days in the current financial year) – Satisfied   2)       ...