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.

Cash payments can be disallowed for business tax calculation

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Expenses can be paid in cash or by using any banking mode. If it's not specifically disallowed for calculating business tax liability, then you need to check whether the business expenditure is paid in cash or banking mode.Government has taken initiative to discourage cash payments for businesses.If aggregate payments in respect of a expenditure is made to a person in a … [Read more...] about Cash payments can be disallowed for business tax calculation

One Person Company (OPC) in India: Registration, Benefits & Limits

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Thinking about starting your own business in India but prefer to keep it small and manageable? A One Person Company (OPC) might be the perfect fit for you. It merges the advantages of a sole proprietorship and a private limited company, providing limited liability protection while keeping ownership simple.This type of company allows a single individual to own and run a … [Read more...] about One Person Company (OPC) in India: Registration, Benefits & Limits

What is director identification number (DIN) and how its issued

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A company can't appoint or re-appointment an individual as director unless he has been allotted a director identification number or DIN from the government.You are required to compulsorily quote your director identification number in each e-form filed with the registrar of companies and in all such documents that you sign as a director.As per section 153 of companies … [Read more...] about What is director identification number (DIN) and how its issued

Tax benefits on home loan – All you need to know

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Home loan not only helps you owning your dream house but also offer several tax benefits if you plan wisely. It's important to understand all such tax benefits before applying for a home loan.You can claim following tax benefitsTax deduction for Principal amount paid for repayment of home loanSection 80C of income tax act 1961 allow an individual and HUF to claim … [Read more...] about Tax benefits on home loan – All you need to know

5 best risk free tax saving investments for salaried individuals

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Risk free tax saving investments helps to save tax in addition to guaranteed return. It not only keep your money safe but also help you achieving your long term financial goals.You can invest in any market linked securities such as equity or debt, but return from these investments are not fixed.Return from market linked securities depends on the underlying security and … [Read more...] about 5 best risk free tax saving investments for salaried individuals