Taxpayers may be eligible for a refund if they end up paying more than their share of tax during a financial year. The excess payments may have been made through tax deducted at source (TDS), advance tax, or other such mechanisms. If you are entitled to a refund, you have to file your income tax return (ITR), verify it, and follow up on the income tax refund status.

 

Process for claiming income tax refund

 

1. 1. File and verify your ITR. Most individual taxpayers can complete the process online.

• After verification, the Income Tax Department (ITD) will cross-check your ITR details. If they find that a refund is due, they will issue a refund order.

• The day after the ITD completes the return processing, it will transfer the refund to the refund banker. The banker will then transfer the refund payment to you in either of two ways: 

• By sending a cheque to your address (as mentioned in the ITR)

• Direct credit to your bank account via electronic clearing service (ECS)

Recently changed your bank account or address? Intimate the ITD in advance to avoid non-delivery of the refund.

 

Checking income tax refund status

 

Start by visiting the refund status page at https://tin.tin.nsdl.com/oltas/refundstatuslogin.html. Next, enter your PAN, the assessment year, the captcha image, and hit ‘Submit’ to display your refund status. Alternatively, you could view the status by checking Form 26AS for the tax credit statement.

 

Now, let’s look at the different statuses you might encounter and how to respond:

 

• Refund had expired: Request for re-issue of the refund via the e-filing portal. If you filed your ITR manually, contact the assessing officer.
  
  
• Refund had returned: Perhaps the cheque went undelivered at your address or your bank details were incorrect. Either get in touch with the assessing officer or submit a request for refund reissue on the e-filing portal.
  
  
• Return paid: There could be a delay from the bank’s end. Check with the refund banker in this case.
  
  
• No demand, no refund: The ITD may have found that no refund was due. If you disagree, file for rectification by submitting your income and investment proofs.

 

Troubleshooting income tax refund issues

 

• Refund not processed: Sometimes the ITD might not process your ITR completely. Get this to your assessing officer’s notice by submitting a letter. Make sure to follow up on the issue.

 

• Refund higher than expected: The ITD is mandated to pay interest at the rate of 0.5% per month or part thereof if your refund is 10% or more of the tax paid by you. The interest computation starts from 1 April of the assessment year and continues till the date on which the refund is paid.

 

• Adjustment against outstanding tax: If you have outstanding tax from a previous year, the ITD might not issue the full refund to you. It will send you an intimation of the same under Section 245. If you do not respond within 30 days, the ITD will go ahead with the adjustment.

 

Final word…

A global leader in dissolving pulp and specialty cellulose, Bracell is an integral part of Sukanto Tanoto’s ever-growing Royal Golden Eagle group. In July 2019, the Bracell Group went public with the details of their newest venture, Project Star, a R$ 7 billion expansion project which aims to increase the manufacture of dissolving pulp in the state of São Paulo, Brazil.

The largest private investment in the state of São Paulo within the last 20 years, Project Star by Tanoto will be ready for completion in 2021.

Founded by the visionary Sukanto Tanoto, Royal Golden Eagle (RGE) manages a group of world-class companies in the resource-based manufacturing industry, with eight companies that have offices and operations worldwide. RGE aspires to improve lives by developing resources sustainably.

In line with this vision, Singapore-based Bracell began operations in Brazil in 2003 with the acquisition of Bahia Specialty Cellulose and Copener in Bahia. Tanoto expanded operations in August 2018 with the acquisition of Lwarcel Celulose in São Paulo. As such, the company now effectively operates within two states in Brazil.

With the immense support provided by Tanoto and the Royal Golden Eagle group, Bracell is now a major international player in dissolving wood pulp and specialty cellulose, with operations supported by its state-of-the-art factories.

In Brazil, Bracell manages approximately 234,000 hectares of owned land, of which 83,000 are environmental preservation areas. Their harvesting cycle happens every five to six years using sustainably-produced eucalyptus, a 100% renewable resource. The company produces soluble cellulose rayon grids and specialty grades. With further expansion, Bracell recently added kraft pulp to their list of productions in 2018.

Tanoto’s companies are anything but small-scale. Bracell provides natural raw materials and key ingredients for a wide spectrum of products, including printing and writing papers, ladies’ clothing, textiles, baby wipes, sausage casings, cosmetics, special inks, detergents, pharmaceuticals, other food products, and industrial products, such as high-performance tire cords. They further help manufacture cellophane wraps for environmentally friendly packaging as well.

Sukanto Tanoto’s expansion project for Bracell is set to transform São Paulo and its surrounding areas. As a company, Bracell is well-known for a number of reasons, including their high-quality standards, the use of premium technology, sustainable cultivation, and environmental consciousness, along with their large production capacity of 750,000 tons of pulp, and the employment opportunities they provide for 7,000 people in the states they operate in within Brazil.

With Project Star, Tanoto’s aim is to magnify and expand every such aspect, positively benefiting production, the environment, and employment opportunities amongst the locals of Brazil.

The company has modern production facilities which minimise negative impacts on the environment, along with being actively involved in social and environmental protection programmes, such as community planting and providing support for beekeepers. Tanoto’s commitment towards social and environmental responsibility is unmatched, and Bracell’s operations reflect this through the variety of programs they implement.

Amongst these are the wildlife and flora monitoring program for biodiversity conservation and Lontra, a Private Natural Heritage Reserve (RPPN) owned by …

While the semiconductor market remained strong across the world in 2019, shipments didn’t match the record levels of the previous year. In fact, silicon wafer suppliers reported high inventories of eight-inch wafers early in the fourth quarter as shipments and orders continued to slow.

The Reason Behind The Decline

Analysts attribute the decline to on-again, off-again threats of tariffs by the United States and China – which spends more on importing semiconductor chips than on foreign oil — as well as product manufacturers looking to prop up their balance sheets by relying on existing inventories where possible. The eight-inch wafers are commonly used in automotive electronics and household consumer products, making production and sales data a barometer for general economic conditions.

Semiconductor Equipment and Materials International, a global industry organization, reported in November 2019 that third-quarter shipments slipped 1.7 percent from the previous period to 2.932 billion square inches. That was almost 10 percent lower than the third quarter of 2018 and consistent with projections cited by a trade publication in Taiwan. The dip was mitigated to some extent by an uptick by silicon wafer suppliers in shipments of 12-inch wafers, more commonly used for handsets and memory chips.

What This Means Looking Forward

Reduced recent consumption could drive down costs In Western nations if production isn’t scaled back, a possibility because the market is so fractured and competitive. That could be good news for consumers in the market for anything from memory sticks to big-ticket home appliances.

The wildcard by most accounts will be China, which has multiple silicon wafer suppliers scheduled to come online in 2020 in that country’s never-ending bid to catch up to the United States in manufacturing. The challenge the Chinese face is that their research and development program has struggled to gain ground on the rest of the world, where chip computing power doubles every other year and has meant having to import more than 80 percent of the necessary semiconductors.

No one really knows what the future holds for China and the semiconductor market, but it is safe to say that the world will be watching, especially those who love tech gadgets, to see what happens in 2020.…

There are no ways for traders to make some good performance. We will be telling all of the novice traders the same thing because there will not be a good performance from most of the trades. A proper trader is all about the most proper control over the positions of the trades. For some good executions is also required. The most right executions can also bring some proper income from the trades. That is good for those who want to become a good performer with a growing interest in the system. The mindset of the traders does not work right for it. We are talking about the most proper management of the trades to get good thinking. There is some need for the most proper performance in the business. The traders will need to think in the best possible ways for their trades to get some good executions. Most importantly, think about the safety of the losses. Then your mind will be automatically diverted. 

Taking some good lessons will help

It is true that the losses will come to all of the traders. That is not going to be right for most of the trading management. A good trader will need to think about the safety of the trading money. We all know about a simple concept. When you cannot deal with something not right, try to save yourself from it. That is what risk management is in the trading system of Forex. Moreover, the traders will also be helped with the most right management of the setups for the trades. Think about the stop-loss which will be set for the risk management. From there, good thinking over the investment into the trades will also happen. So, all of the right kind of performance will need some good thinking. We all are going to be safe with the most proper mentality for trading. 

High-risk reward ratio

Finding a high-risk reward ratio trade setup is a very challenging task. The majority of the new traders in Singapore ignore the importance of risk-reward ratio and blows up the trading account. If you truly want to learn Forex trading business, you must learn to analyze the higher time frame. Never execute any trade unless you have 1:3+ risk-reward ratio. It’s true, things will be really hard at the initial stage but once you learn to trade this market with proper risk factors, it won’t take much time to change your life.

Make your mind up right for plans

So, it is good for traders to think about the safety of trading money. If we all can think right, there will be some good performance. From most of the trades, a good performance will come out because the motto of the traders will be about getting some simple profits from the simple investment. It is not that much of a big deal for most of the traders. Thinking of good performance will come out of a blue. It is necessary for the most …

Stainless steel bearings are designed not to rust, but that doesn’t make them immune to corrosion. High humidity, improper storage, and condensation all contribute to corrosion of stain steel bearings. In many cases, you won’t notice that stainless steel roller bearings have corroded until damage occurs. Here is how to protect stainless steel bearings from rust.

 

Sealing and Lubrication

 

Lack of or insufficient lubrication is the leading cause of bearing failure and corrosion. Lubricants of bearings used in washdown processes such as in the food and beverage industry are likely to get washed away by contaminants. However, grease is the most preferred lubricant for stainless steel bearings used in washdown applications. Other lubricants such as oil are easily washed away by a splash or spray.

 

Plating and Coating

 

There are a variety of coating and plating options that virtually protect stainless steel bearings against any corrosive agent. Stainless steel is probably the first thing that comes to mind when the term corrosion is mentioned. The fact that stainless steels can’t be hardened lowers their load carrying capabilities. But that can be addressed by applying a thick coat to stainless steel material.

 

Orientation

 

Controlling the number of corrosive agents contacting a stainless steel surface is perhaps the easiest and cheapest option that designers can employ to protect stainless steel against destructive agents. That could mean mounting linear bearing components on their side or upside down. Mounting the bearing above the surface area can also minimize their contact with corrosive liquids, but this depends on the direction of the splash or spray.

 

Corrosion is a natural enemy of materials made of stainless steel. When acids, vapors, or moisture attack the surface of a stainless steel bearing, the damage caused may not be seen until it is too late. Luckily, there are a couple of things you can do at that stage to protect your stainless steel bearings against corrosive agents. …