Figyan

CA Bigyan Kumar Mishra

is a fellow member of the Institute of Chartered Accountants of India.He writes about personal finance, income tax, goods and services tax (GST), company law and other topics on finance. Follow him on facebook or instagram or twitter.

Comprehensive Guide to TDS on Interest Income: Section 194A

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In India, Tax Deducted at Source (TDS) is a method the government uses to collect taxes directly from your income before you receive it. This applies to different types of income, like salaries, dividends, bonuses, commissions, and interest from deposits.Section 194A of the Income tax act, 1961, talks about tax to be deducted on interest payments. Interest payments … [Read more...] about Comprehensive Guide to TDS on Interest Income: Section 194A

Impact of Selling Listed Equity Shares on Your Tax Obligations

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When it comes to investing in equity shares in India, knowing how selling your stocks affects your taxes is crucial. The taxation on equity shares depends on the duration for which you hold them and is classified into Short-Term Capital Gains (STCG) and Long-Term Capital Gains (LTCG).This guide will help you understand the tax rules for listed stocks and equity mutual funds … [Read more...] about Impact of Selling Listed Equity Shares on Your Tax Obligations

How to Read and Understand a Cash Flow Statement

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The cash flow statement is crucial for understanding a company's liquidity, financial health, and ability to generate cash to fund operations, invest in growth, and meet obligations. It helps stakeholders, including investors and creditors, assess how effectively a company manages its cash.What is a Cash Flow Statement?A cash flow statement is a financial document that … [Read more...] about How to Read and Understand a Cash Flow Statement

TDS on Payments to Contractors and Professionals: Section 194M

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Since September 1, 2019, individuals and Hindu Undivided Families (HUFs) must deduct Tax Deducted at Source (TDS) under Section 194M when paying over ₹50 lakh to contractors, professionals, or for commissions and brokerage within a financial year. The deduction occurs at the time of payment or when the amount is credited, whichever happens first. Under Section 194M, a 2% … [Read more...] about TDS on Payments to Contractors and Professionals: Section 194M

A comprehensive guide to file personal income tax return in India

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Income tax return (ITR) filing in India is the process through which individuals and businesses report their income, expenses, and tax liabilities to the Income Tax Department. Filing income tax returns (ITR) in India is an important responsibility for individuals and businesses. Filing income tax returns helps in legal compliance, claiming tax refunds, applying for … [Read more...] about A comprehensive guide to file personal income tax return in India