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MSME Benefits

Indian government has provided many benefits for small scale units or medium small and micro enterprises (MSME). In order to be eligible to get these benefits, any entity should register itself as MSME/SSI enterprise under MSMED Act. Following is a list of such advantages of obtaining SSI/MSME registration in India. Collateral Free loans from banks: The Credit Guarantee Fund Scheme for Micro and Small Enterprises (CGS) was launched by the GOI to make available collateral-free credit to the micro and small [...]

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DEDUCTION U/S 80CCD, 80D, 80E AND 80G

National Pension Scheme (Deduction u/s 80CCD) An individual can claim an addition deduction of Rs 50,000 a year by investing in National Pension System (NPS) under Section 80CCD (1b). This deduction is above Rs 1.5 lakh under 80C. So, by investing in NPS, a taxpayer can claim deduction of up to Rs 2 lakh in a financial year. Also, if an employer puts 10% of an employee’s salary in NPS, then that amount will also get tax exemption. On the [...]

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