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What Can I Do With a Project Management Certification?

Career

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February 3, 2023

Project Management Certification – In today’s business world, the importance of project management is increasing rapidly. In fact, a consultancy firm Bain and company, reports that by 2027 almost all the tasks will be project-based. Project management is becoming essential for almost all organizations as it helps them save time, money, and effort. It can improve internal communication and help business leaders make better decisions. A good project management team can help organizations achieve their business goals within time and budget boundaries.

Several companies have started realizing that good project management is crucial for stronger results and happier employees. Good project management enables companies to allocate tasks, resources, and accountability effectively. It also ensures that issues like time, budget, scope, and schedule are not compromised, along with gaining control over ongoing projects. It also makes sure that project processes are on the right track and within the company’s rules and regulations.

Project management is aimed at delivering outputs that can maximize benefits and reduce costs through clear focus and objectives. It also ensures quality control and provides the ability to manage risks. So it is clear that project management is an essential part of any organization to get the project done successfully. Therefore there is a great demand for skilled project managers who are certified with any reputed project management certification course that can help them throughout their careers.

So this article is all about the utility of project management certification.

What is Project Management Certification?

Project Management certification is a credential that is specially designed for the project managers and by the project managers. One of the best certifications in this field is PMP ( project management professional) certification which is offered by PMI ( project management institute). It is an industry-recognized credential for project managers. It provides you the ability to work as a project manager across the world as it is a globally recognized project management certification.

A project management certification provides the fundamental education, experience, skills, and competency required to lead and direct projects. It enables project managers to demonstrate their expertise in project planning, development, access, and completion of a project successfully.

Basically, a project management certification validates the skills and expertise of a candidate regarding abilities to manage the people, processes, and business priorities of a project. To get the project management certification, it is required to meet the prerequisite and experience to pass a certification exam. Normally 35 hours of project management training in learning objectives in project management is required that can be substituted with CAPM certification ( Certified Associate in Project Management). At least 36 months of experience in leading projects If you have a bachelor’s or four-year degree also required. If you have a secondary school or any associate degree that 60 months of experience is a must to complete for certification in this domain.

How is a Project Management Certification Useful?

It is the most frequently asked question by people that how I use a project management certification. People also ask if it is worth investing time and money in any project management certification. So the answer is yes, it is worth investing your precious time, effort, and money in any reputed project management certification. You can use a PMP, CAPM, and any relevant course in this domain to validate your expertise/skills and launch a successful career in this dynamic project management field. You can get better job opportunities and enhance your career graph to new heights and levels.

Project management is proof of abilities, knowledge, expertise, and skills to excel in any field. It can also boost your resume with a stamp of approval from a reputable industry organization. Any certification related to project management indicates to your employer that you are highly qualified in project management along with business management and leadership. In fact, it also enables the candidates to create a well-structured project schedule. It also helps candidates to learn project execution which includes the beginning of the project, planning, execution, controlling, evaluation, modifications, and terminations in the entire project processes.

A project management certification helps you to showcase your skills in the areas such as Planning, Leadership, Execution, Time management, Budgeting, Organization, documentation, etc. This credential can also prove that you are highly organized and have excellent communication skills and acute attention to detail coupled with the ability to see the big scene ahead. It also indicates that you can manage resources perfectly and have experience in risk management. It also shows that you can think better in critical situations and shows your can-do attitude towards any situation or problem. While a certified project management professional also has the ability to inspire and motivate a team.

A project management certification covers several important topics, such as Project Management Essentials, Project Integration Management, Project Time Management, Project Scope management, and many more relevant topics and subjects. So you can learn a lot of stuff that you can implement in your projects to get them done successfully. It can help you gain experience that can make your resume stronger than others.

A project management certification can help you learn new and in-demand career skills that you can add to your resume and achieve brighter career opportunities. It can help you apply for many important job roles and find a niche in this domain. It enables you to make your career as a Project Coordinator ( average salary $47,159 per year), Portfolio and program manager ( $82,719), Project Director ( $ 88,310), Product Owner ($100,905), Project manager consultant ( $106,426), Engineering Project manager ( $107,081), and many more job roles with attractive salaries.

Last but not least, it is a must to say that candidates who want to land or switch a career in the project management field should pursue any project management certification as there are several reputed certification courses available and provided by many well-known and popular websites and institutes. It is also beneficial for the professionals involved in managing a small or large team on multi-dimensional projects should opt for the project management course as it helps them in improving their career opportunities.

Download Income Tax Calculator FY 2023-24 (AY 2024-25)

Incometax

Shitanshu Kapadia

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February 1, 2023

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Income Tax Calculator FY 2023-24 (AY 2024-25). An Income Tax Calculator is a Microsoft Excel-based utility designed to estimate the tax liability of salaried individuals based on their income. It makes the complicated tax calculation process easier, giving users precise numbers quickly. By using this calculator you can calculate your tax liability and decide on tax-efficient investment options and the suitable tax regime for FY 2023-24.

Before downloading the Excel-based income tax calculator let’s get acquainted with the Latest Income Tax Slab for FY 2023-24 and the Income Tax changes made in the Budget 2023.

Income Tax Slabs for FY 2023-24 (AY 2024-25)

The new Income Tax Slab is allowed in the Budget 2023. The new tax slab would be the default tax slab.

The new Tax Slab FY 2023-4 is given below.

Rs 0 to Rs 3 lakh – 0% tax

Rs 3 to 6 lakh – 5% tax

Rs 6 to 9 lakh – 10% tax

Rs 9 lakh to Rs 12 lakh – 15% tax

Rs 12 lakh to Rs 15 lakh – 20% tax

Above Rs 15 lakh above – 30% tax

The old Tax Regime also continued. This means if you want to invest in 80C and save tax you can still use the old tax regime.

The new tax regime announced is more tax efficient and less complicated as you need not exempt any income and remember any complicated tax exemptions such as 80C, 80CCD, 80D, 80DD, etc.

So, still, the taxpayer has two options –

Option 1 – Income Tax Slab – Higher Tax Rate

The first tax slab is with a higher tax rate. In case an individual or HUF wants to claim exemptions under 80C, 80CCC, 80CCD, 80D, 80DD, 80DDB, etc. the tax rate with a higher rate is applicable. The tax slab in case exemption is claimed is given below.

Income Tax Slab	% Rate
Up to Rs. 2,50,000	0%
Rs. 2,50,001 to Rs. 5,00,000	5%
Rs. 5,00,001 to Rs. 10,00,000	20%
Above 10 Lakh	30%

Option 2 – Income Tax Slab – Lower Tax Rate

The second tax slab is with a lower tax rate. If the taxpayer does not want to claim any exemptions new simplified tax regime is applicable. The new simplified tax regime with a lower tax rate is given below.

Income Tax Slab	% Rate
Up to Rs. 3,00,000	NIL
Rs. 3,00,001 to Rs. 6,00,000	5% (With Tax Rebate under Sec.87A)
Rs. 6,00,001 to Rs. 9,00,000	10% (With Tax Rebate under Sec.87A up to 7 Lakh)
Rs. 9,00,001 to Rs. 12,00,000	15%
Rs. 12,00,001 to Rs. 15,00,000	20%
Rs. 15,00,001 and above	30%

The taxpayer is not allowed to claim any exemption under 80C, 80CCC, 80CCD, 80D, 80DD, 80DDB, 80E, 80EE, 80EEA, 80EEB, 80G, 80GG, 80GGA, 80GGC.

However, there are certain deductions you can still claim using the new tax regime and they are as below.

Retirement benefits, gratuity, etc.
Commutation of pension
Leave encashment on retirement
Retrenchment compensation
VRS benefits
EPFO: Employer contribution
NPS withdrawal benefits
Education scholarships

Salaried can select any tax slab. They can switch between old and new tax regime. The option of switching between tax slab is not allowed if an individual or HUF have business income.

Income Tax Calculator FY 2023-24 (AY 2024-25) – Excel Free Download

Download the latest income tax calculator FY 2023-24 (AY 2024-25) from the link given below and calculate your income tax liability easily. There are two parts of this calculator. Both are given in different sheets.

Part 1 – Calculate Tax as per Higher Tax Rate

The first sheet includes a calculator that considers a higher tax rate and allows for deductions and exemptions.

In order to determine your income tax responsibilities at the elevated tax rate, you must supply information like your total income and the amount of exemptions. Furthermore, you must also submit details regarding the investments you have made across different categories. The document includes sections for different inputs like 80C, 80D, 80CCD, and others.

Once you have entered the information, you must proceed to the lower section and choose the appropriate tax bracket by selecting options for Male/Female, Senior Citizen, and Very Senior Citizen.

You will be able to see your tax liability instantly in the Tax Liability with Cess Section.

Part 2 – Calculate Tax as per Lower Tax Rate

The calculator included in the second sheet follows the new tax system that has lower tax rates and does not permit deductions.

In order to determine your income tax obligations based on the updated lower tax rate bracket, you are only required to input your gross income once.

The calculator will calculate tax liability automatically and display it in the Tax Liability with cess Field.

Download the Income Tax Calculator in EXCEL Format.

Note – It is not a comprehensive calculator, it is designed to give you a quick idea about your income tax liabilities so that, you can start tax planning. It also helps you to select an appropriate tax slab.

Key Features of this Income Tax Calculator are given below

This calculator is a two-in-one calculator. You can make use of this calculator for calculating tax liabilities as per old as well as new tax slabs.
You can compare your tax and decide which tax slab to opt.
This calculator is designed exclusively for the salary income only.
It is an Excel-based calculator. You can download and use it forever.
This calculator is for people with a single home.
You will not able to calculate long-term capital gain tax from this calculator.

Conclusion

The Income Tax Calculator for FY 2023-24 is an essential tool for understanding the intricacies of the Indian tax system. Taxpayers can attain precision, effectiveness, and adherence in their tax activities by utilizing its capabilities.

If you have any suggestions share them at info@moneyexcel.com. It will help me to add new features and improve this calculator.

New Income Tax Slab 2023-24

Incometax

Shitanshu Kapadia

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February 1, 2023

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New Income Tax Slab 2023-24 is announced by Union Finance Minister Nirmala Sitharaman. New Tax Regime is announced. New Tax Regime will be the default tax regime.

The income tax rebate limit is increased to 7 Lakh. With the new tax regime, those with incomes of Rs 7 lakh would no longer need to pay any income tax. Earlier this limit was Rs 5 lakh. A 5% direct tax would be applicable on a total income between Rs 3 lakh to 6 lakh. 10% direct tax would be applicable on total income between Rs 6 lakh to 9 lakh. 15% on Rs 9 lakh to Rs 12 lakh, 20% on Rs 12 lakh to 15 lakh, and 30% on Rs 15 lakh and above.

The government has reduced the highest surcharge rate from 37 percent to 25 percent in the new tax regime.

This means the basic exemption limit is hiked from Rs 2.5 lakh to 3 lahks. Rebate under section 87A has been hiked from Rs 5 lakh to Rs 7 lakh.

New Income Tax Slab 2023-24

a) Rs 0 to Rs 3 lakh – 0% tax
b) Rs 3 to 6 lakh – 5% tax
c) Rs 6 to 9 lakh – 10% tax
d) Rs 9 lakh to Rs 12 lakh – 15% tax
e) Rs 12 lakh to Rs 15 lakh – 20% tax
f) Above Rs 15 lakh above – 30% tax

A new Income Tax slab is beneficial as it leads to good savings on income tax.

Tax savings due to Income Tax Slab 2023

Earlier if your total income was Rs 7 lakh you were paying Rs 33800 as tax but now you need not pay any tax on Rs 7 lakh.

In case your income is 9 lakh earlier you were paying Rs 62400 as tax but now you need to pay Rs 46800 tax on income of 9 lakh so your total saving would be Rs 15600.

If your income is 10 lakh earlier you were paying Rs 78000 as tax but now you need to pay only Rs 62400 as tax so the total saving would be Rs 15600.

If your income is 12 lakh earlier you were paying Rs 119600 as tax but now you need to pay only Rs 93600 as tax so your total savings would be Rs 26000.

If your income is 15 lakh earlier you were paying Rs 195000 as tax but now you need to pay only Rs 158000 as tax so the total saving would be Rs 37000.

The new income tax regime becomes the default tax regime. However, the individuals will have the option to continue with the old income tax regime.

How to Find the Best Broker in India?

Stock Market

Shitanshu Kapadia

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February 1, 2023

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The stock market has been gaining immense popularity in recent days and for good reasons. If you can place your bets right and understand the market well, you will surely make a lot of profit. However, things are not as easy as it sounds in such a volatile market.

So the first step would be to get some professional advice and guidance, and the best person to help you with that is a broker. This is one of the first and most important steps you have to take while investing in the stock market.

Neither can you make profits without expert advice, nor can you make trades without a stockbroker in India. Stockbrokers are known for their help with demat and trading accounts and an essential addition to building your portfolio. That said, finding the right stockbroker for your specific market habits is not simple.

One quick search on the internet will present you will hundreds of options, which can easily overwhelm you. If you are new to this industry and want to start your journey, this article is a perfect read. Here you will learn some tips that can help you find the best stock broker in the country.

How to Find the Best Broker in India?

#1 Background And Reputation In The Industry

The first and foremost thing you should pay attention to is what other portfolios the broker has worked on and how well-reputed they are in the market. Making a note of their prior experience in the industry and what their clients have to say about it is important.

The easiest way to do this is by reading reviews, or any complaints you might find online. You can also conduct a survey of the personal experience each of their past and the present client has. If you are using a mobile app to make your investments, it is best if you check its rating on the app store.

More so, you can check their total number of active users and stable usage. The bigger and better a stockbroker is, the more stable number of clients they will have.

#2 Brokerage And Other Charges

It is common knowledge that the broker you choose will take a cut percentage of every profit you make. This is why it is very important that you understand their charge schedule to ensure you do not get a surprise at the end of the day. There are mainly two kinds of stockbrokers you can find in India, namely, full-service and discount brokers.

While a full-service broker will offer advisory services along with several other premium facilities, a discount broker will only offer trading facilities. This is also why the former has a much higher cut percentage on every trade their client executes, while the latter charges only a flat fee.

If you want research reports, stock research advisory, and other facilities customized specifically for you, a full-time broker is best for you. However, if you are trading or investing on your own and want to pay the least brokerage, a discount broker works fine.

#3 Customer Service

Lastly, customer service is of prime importance. Unless you have an existing mentor, you will always require some support, especially if you are new to the industry. One might argue that online platforms have made investment easy and offer several resources. However, there are several instances in which you might require technical support.

This is when having someone helping your unique case can come in handy. While checking reviews is a great way of determining a particular broker’s customer support, it can also mislead you. The best way to understand the kind of service they offer is to directly call their helpline number.

If you see the customer executive taking forever to pick up your call, it is best to avoid them, since they might do the same when you are in actual need. Go for someone who can offer you one-on-one customized support. This will ensure that you get personalized support whenever you have stuck anywhere.

With these three points in mind, you will find a stockbroker who suits your needs aptly in no time. However, remember that your first broker does not necessarily have to be your stockbroker for life. You can switch between stockbrokers if you do not like the service at any time you like.

More so, you can now transfer all your existing shares to the new broker as well. However, this is not always recommended since it wastes valuable time and can come with some hassles. This is why take able time before you finalize a decision.

If required, take a few days, research every available option on the internet, read the reviews and understand what you need. Knowing what kind of trading you are interested in or what you are expecting out of it can help you make the most of your endeavor.