Arthabichar Nepal - Guide to Entrepreneurs, Startups, and Business Enthusiast

Question:  If an employee is not enrolled in any retirement fund but has paid 40,000 for life insurance or 10,000 for health insurance, should these insurance payments be subtracted from their taxable income or not?  (this was posed in one of the facebook group) Answer:  Regardless of whether an individual has contributed to a retirement fund, they remain eligible to reduce Rs. 40,000 for life insurance and Rs. 10,000 for health insurance from their taxable income. You might be wondering how?  Let's delve into the deductions permitted by the Nepalese Income Tax Act, 2058, regarding life, health, and property insurance premiums. This blog should help you understand how insurance payments can impact your taxable income. 1) Life Insurance Deduction: For residents holding life insurance, you can claim a deduction of up to Rs. 40,000 or the actual annual premium amount (whichever is lower) from your taxable income. Refer to Annex-1, Clause 12 for this provision. 2) Health...

Hey fellow entrepreneurs! Ever heard of FP&A and wondered what it means for your business?  FP&A stands for Financial Planning & Analysis. It's basically like having a financial GPS for your business. ️ It helps you: ** Plan your future:** Set realistic goals and budgets. Forecast revenue and expenses. Identify potential risks and opportunities. ** Analyze your performance:** Track your progress towards goals. Identify areas for improvement. Make data-driven decisions. ** Optimize your finances:** Allocate resources efficiently. Manage cash flow effectively. Maximize profitability. So, how does this benefit you as a founder? Peace of mind: You'll have a clear understanding of your financial health and future prospects. Better decision-making: You'll be able to make informed decisions based on data, not just gut feeling. Increased efficiency: You'll be able to allocate resources more effectively and avoid costly mistakes. Improved performa...