Bank provides different kind of working capital loans to large corporate and SMEs which includes Traders, Manufacturers, Service Enterprises, Retailers, Stockist, Distributors, Merchant Establishments, Departmental Stores, Supermarkets, Restaurants and Multi Brand Outlets etc to finance their day-to-day requirements. Cash Credit or CC is part of bank’s working capital loan facility. Cash Credit is a short … Read More » "What is Cash Credit, how it differs from Overdraft facility"
Tax Haven can be a state or country or territory where taxes are levied at a very low rate or not at all. It’s described as “sunny places for shady people”. It also refers to places where the country or state has a system of financial secrecy laws or bank secrecy laws or offer favorable … Read More » "What is Tax haven, List of countries considered as tax heaven"
As per the present tax laws of India, an individual, partnership firm, company and other eligible persons can file their income tax return or return of income until the completion of two financial years from the end of the financial year for which the return is to be filed. For instance, if return of income … Read More » "Can income tax return be filed for earlier years"
One person company or OPC is not a new concept. It’s widely used all over the world including in countries like Pakistan, china, Singapore and US. In India OPC concept has been introduced with the new Companies act 2013. Section 2(62) of Companies Act 2013, has defined one person company. As per this section, One … Read More » "Who can set up One Person Company or OPC in India"
There are two ways to make money on stock investments: capital gains and dividends. Dividend can be distributed in the form of cash or stock. Both type of payments are distributed our of companies profit by reducing retained earning. Dividends can provide steady periodic income, while capital gain requires action to convert share to cash. … Read More » "Dividend income Vs capital gain – Meaning and Difference"
Let us understand the latest mandatory requirements applicable to an individual assessee while filing his income tax return. As per the new notification, passport numbers, if available, is required to be disclosed in Income tax forms. In addition to that total number of savings and current bank accounts with details held by the tax payer … Read More » "Passport, Aadhar card and Bank account details to be disclosed in Tax return"
Incorporating a company refers to the process of making a private limited or public limited or OPC, which will be a separate entity from the owner. Here are 5 reason why incorporating a company is beneficial; Personal Asset Protection or Limited Liability In case of proprietorship and partnership form of business, the owner may be … Read More » "5 reasons why you should incorporate a company"
In simple term compound interest is interest on interest. This means, compound interest is the interest calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan. For example, if you deposit Rs 100 into your saving bank account @ 10% compound interest rate per year, in … Read More » "Compound interest calculation and The rule of 72"
While considering the legal structure of your new business, in India you are basically have five form of business ownership to choose, a company, a partnership firm, a LLP, a OPC or a sole proprietorship. The only business that doesn’t need to be registered in India is sole proprietorships that owned and operated by one … Read More » "Advantages and Disadvantages of sole proprietorship"