Banking
What is a Bank Reconciliation Statement(BRS)? A bank reconciliation statement or BRS summarises a business and banking activity that reconciles an entity’s bank account...
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Cash vouchers are vital in facilitating financial transactions and tracking expenses for firms and organisations. Cash vouchers are valuable instruments for recording and monitoring...
When a company purchases goods or services, there may come a time when they need to return them due to various reasons such as...
Bills payable are short-term debts that a company owes to creditors. A company’s balance sheet is a financial statement that provides a snapshot of...
“Are you a small business owner in India looking for ways to reduce your tax burden and invest in your company’s growth? Have you...
Profit maximisation and wealth maximisation are two different approaches to business. The main focus for any business is profit maximisation, but many people need...
What is Meesho? Meesho is the biggest and most reputable reseller marketplace in India. It is an e-commerce platform where resellers can sell products...
What is letter of credit? A letter of credit, or LC, is a legal document that ensures the buyer will pay the seller. It...
What is a Bill of Supply? A company that is GST-registered sends the purchaser a tax invoice. Such an invoice specifically states the GST...
The Indian government has introduced the QRMP plan to make it easier for small business taxpayers to file taxes. What is the QRMP scheme?...
Definition of DSO Days Sales Outstanding (DSO) measures the average time it takes a business to get payment from a client after a transaction....
What is a Bank Reconciliation Statement(BRS)? A bank reconciliation statement or BRS summarises a business and banking activity that reconciles an entity’s bank account...
India has the potential to assist you in realizing your entire entrepreneurial dream. To be sure, you do not need a superior education from...
Introduction to Indiamart Indiamart is a huge B2B marketplace that renders products and services on the portal of sales. It is headquartered in Noida,...
Objectives of Stand Up India Scheme The objective or goal of the Stand Up India Scheme is to make the process of bank loans easy between...
Small firms, particularly those in the industrial sector, rely heavily on technology. Micro, small, and medium-sized enterprises must invest in machinery and equipment to...
What is Partnership Deed? A partnership deed is a legal document in a written format called the partnership deed format that contains an agreement...
Senior persons have the right under 80TTB to claim a greater deduction for interest income generated on deposits. It is intended to assist elderly...
Khadi and Village Industries Commission, KVIC is a statutory body formed by the Government of India, GOI in 1957, under the act of Parliament...
What is the full form of CIN ? Full form of CIN is Corporate Identification Number. What is CIN number? CIN is a number...
India is endowed with a plethora of traditional industries. This industry not only contributes significantly to large-scale job possibilities at a relatively cheap capital...
What Is VAT? VAT full form is the Value Added Tax. It is an indirect tax that the national government levies on products and services...
What is Trade License A trade license authorises an applicant (someone wishing to start a business) to conduct a particular industry or trade in a specific...
“No revision has been made to the existing income tax slabs in the recently announced Union Budget 2022″ Taxes are collected on its inhabitants...
What is ICEGATE ICEGATE refers to Indian Customs and Central Excise Electronic Commerce/Electronic Data Interchange (EC/EDI) Gateway. It is the national portal of the...
What is TAN full form? Full form of TAN is Tax Deduction and Collection Number . What is TAN Application Form 49B Form 49B...
Credit Guarantee Fund Trust for Micro and Small Enterprises, CGTMSE is a scheme that is introduced by the government of India, by the Ministry...
MSME Loan Schemes: MSME – the abbreviation for Micro, Small, and Medium-Sized Enterprises. These sectors contribute to the overall financial stability of the country....
What Is Break-Even Point? The break even point is the level of output at which the company’s overall revenue and total expenses are the same. At...
Introduction to Company Income: Before learning about tax rates and how they are determined, we need to know about the types of income a...
What is NSIC? NSIC full form is National Small Industries Corporation. It is owned by the Govt of India under the authority of the MSME –...
What is SSI Essentially, “Small Scale Industries” are those that create, produce, and provide services using little machines and a small workforce. These firms...
As a development bank, NABARD is mandated to provide and regulate lending and other support facilities for agriculture, small-scale industries, cottage and village, craftsmanship,...
What is FSSAI? If we talk about FSSAI full form, it is the Food Safety and Standards Authority of India (FSSAI) which has been launched...
What is Cash Credit? Cash credit is a short-term financing source for a company. It is one kind of short-term loan extended by a bank...
What is DIC? District Industries Centre is the DIC full form and it is an institute started at the district level. The purpose of DIC...
The SME sector is often recognised as the backbone of the Indian economy, having made substantial socio-economic contributions to the country. It generates jobs...
What is the full form of UPI Full form of UPI is Unified Payment Interface. What is UPI? UPI is a one-stop shop for...
Platforms such as Paytm enable businesses of all sizes to expand and transcend regional borders. Paytm, funded by China’s Alibaba Group, is reshaping the...
80TTA is an interest income deduction section of the income tax act that is available to resident individuals and Hindu United Families (HUF). Section...
Accounting, bookkeeping and maintaining a track record of all your transactions can be very cumbersome processes. Not to mention the process of getting your...
What is the PMEGP scheme? The PMEGP full form is nothing but Prime Minister’s Employment Generation Programme (PMEGP) which is a credit-linked subsidy program operated by...
If we talk about Myntra, it is one of India’s popular e-commerce companies, an online lifestyle and fashion shop headquartered in Bangalore, Karnataka. This...
Who Is A Flipkart Seller? The world now is all about how easily you can have what you want. We can order anything online...
In this article, you can find out how a Vyapar app – myBillBook can boost your Business Vyapar App – myBillBook? Another Vyapar app...
Basic rules of the Income Tax Act’s Section 194C According to Section 194C, the following individuals are held financially liable for paying the resident...
It is a taxation method in which the individual or organization who is in charge of making certain payments deducts the necessary tax before...
What is TDS traces? When it comes to the extension of TRACES, it is TDS Reconciliation Analysis and Correction Enabling System. TDS traces is an online...
To comply with the Union Budget 2020, the amount of TDS that can be deducted has been lowered to Rs 20 lakh for taxpayers...
TDS Section 194J is a provision in the Income Tax Act 1961 that deals with the deduction of TDS on fees for technical and...
What is TDS? The term TDS means Tax Deduction at Source. It is a tax deduction that individuals and businesses face at various stages...
Taxes come in many forms, and fortunately, now you can use a single copy challan to pay any direct taxes such as income tax,...
Every taxpayer from whom TDS has been deducted will be required to file a TDS return with the IRS. They must be filed at...
‘Profit and Loss’ is a common term used across various business verticals. It is one of the most basic principles on which every business...
The Fund Flow Statement is beneficial for performing long-term analysis. It is an extremely important tool in the hands of management for evaluating the...
MIS: Full Form & Meaning The term MIS stands for Management Information System. It is an effective system that helps decision-makers make the right...
Letter of authorization for GST in terms of every business entity except for when the business entity is a sole proprietary or is run...
The government had launched the MSME grievance redressal platform ‘Champions’ in May 2020. According to the recent data published by the government, MSME complaints...
Starting a business comes with a list of expenses, duties and situations that you would not have expected. But the first order of starting...
If you come under the eligibility criteria to file Income Tax Return 6, then this guide will be very helpful to you. Read more...
ITR 5 means a type of form which needs to fill for the income tax return. But this is not for any individual or...