Keeping Your Business and Personal Finances

How to Separate Your Business and Personal Finances

Certain things just don’t mix well — like a good scotch and soda, like Rajnikant and Laws of Physics, like Rahul Gandhi and politics and like your personal finances and your business’s. Keeping these things separate not only helps you reduce problems, it also greatly simplifies things and makes it easier to manage your finances.…

Guide To Tax Deducted At Source - TDS

India’s Most Comprehensive Guide On TDS (May 2020)

What is TDS? Tax Deducted at Source (TDS) is a system introduced by Income Tax Department, where the person responsible for making specified payments such as salary, commission, professional fees, interest, rent, etc. is liable to deduct a certain percentage of tax before making payment in full to the receiver of the payment. As the…

GST - Goods And Service Tax

GST – 10 Questions Answered

India is notorious for its complex tax system. For new businesses and startups, it becomes impossible to navigate through various direct and indirect taxes. Constant changes to taxes like Service Tax are making things even worst. But now, the things are set to change with new Goods and service tax – commonly known as GST.…

Best Coworking Spaces in India

Best Coworking Spaces In India

As a business owner, we are always looking for ways to cut costs. If you operate out of a metro city, its difficult to find cost-effective options for business meetings, conducting interviews or finding an affordable place to work. Sometimes investing in an office infrastructure is not possible for early-stage businesses. This is where coworking spaces…

Krishi Kalyan Cess

How To Setup Service Tax

Setting up Taxes in ProfitBooks is easy. Just to go Accounting menu and click on Taxes. In this article, we’ll explain how to setup Service Tax, Swacch Bharat Cess and Krishi Kalyan Cess:   Important Notes Here is a quick calculation for new service tax rates that is effective from 1st June 2016. Taxes are…