If you’re planning to avail a small business loan, then you must be sure about its impact on your next year’s taxes. Let’s clearly understand that business loans are tax-deductible! The effect of small business loans does not change your taxable income. It stays the same fundamentally. As per the Income Tax Act 1961, adding money
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Savings on tax is a crucial aspect of personal finance of every household. Of the multitudinous taxes on the common man, one of them, a major one, which burns a hole in the pocket, is the Income Tax. If you earn more than Rs.2.5 Lakhs per annul, then you are in the income tax net.