59 Minutes Loan
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How to apply for the new Loan under 59 Scheme by the Government

Prime Minister Narendra Modi has announced an ambitious scheme of getting loan up to 1 Crore in just 59 minutes. The scheme has been started for the Micro, small and medium enterprises. Among the 12 schemes that were generated, one that was highlighted was the facility of availing loan under 59 minutes. With this initiative, the Government is working towards pushing the growth in automation and bringing down the time and process involved in cumbersome Loan facilities. Quick Approval Process An Individual who qualified for such loan would…
Class 3 DSC

Class 3 DSC Signature and E-tendering- What you need to know

Class 3 Digital Signature is used for e-tendering and is considered to be the signature of the highest level. The importance of the Class 3 DSC lies in the fact that it enables safety of the user. An Individual who is applying for tenders through e-tendering route would always want to know that his transactions are safe. Class 3 Digital Signature has been designed to do exactly the same. There are two validity period of Class 3 Digital Signature – One year and Two Years. According to the Information Technology Act, Class 3 Digital Signatures…
US$ to INR

Here is Why Indian Rupee is Falling Against The U.S. Dollar

The Indian Rupee is not taking halt against US dollar, falling continuously to touch the lifetime low of 71.10 against the greenback. In today’s session, the currency got some relief after the good GDP numbers but failed to sustain and fell to an all time low levels. There are multiple factors behind falling Indian rupee against US dollar. Global and Domestic Factors The rising tensions between two biggest economies – the United States and China has taken toll on India rupee. Both the countries are in a race to slap tariff on each other’s…

DIR-3 KYC Filing Date Extended - How to file the form?

The government has extended due date of filing DIR-3 KYC without any late fee till 15th September. As a part of updating the registry, the Ministry of Corporate Affairs as is conducting KYC of all Directors of all companies annually through DIR-3 KYC form. This form is compulsorily required to be filed by every director who has been allotted a Director Identification Number on or before 31st March of a financial year and whose DIN is in Approved status. It is mandatory for Disqualified directors also. Late filing after 15th September would attract…

Different Types OF ITR Status And How To Check It Online

Taxpayers should regularly check their ITR status to ensure that the Income Tax Return has been accepted and processed. Income-tax Department has provided access to check Income-tax Return Status in user login. However, not every tax payer understands the meaning of checking the status means after they file the return. Different types of ITR status: Submitted and pending for e-verification: this status appears on the screen:  When you have filed the ITR but have not e-verified it. You have  sent the acknowledgement to the department but…
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Everything you need to know about Digital Signature

Digital Signature acts like a guarantee that the electronic documents and the message sent digitally has not been tampered because of the encryption techniques used. Digital signature is popularly known as electronic signature. Difference between digital and electronic signature Digital signature is also a form of electronic signature but the method differs slightly. It uses the certificate-based digital ID to authenticate signer identity. In digital signature, the proof of signing linked together to the document through encryption and the…
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Income tax notices and what should the tax payer do

The government has extended the Income tax return filing date till August 31st, 2018 which means that you get more time to file the return carefully and ensure that there are no mistakes. However, in case you have received the notice from the Income Tax Authority, there is a process to go about it. Recently, there have been an increase in the number of Income tax notices sent by the department due to changes made in the income tax rules about which most of the income tax payers are not aware. Section 143(1) – Customary Notice - You don’t…
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GST Training in Bangalore | GST Classroom cum online training in Bangalore

Being July 1st 2017  date fixed for GST roll out all over India many of us are worried about GST preparedness??  We have one good opportunity with GST training in Bangalore DBA Cosmic IT services pvt. Ltd. Bangalore with it's 16 years of rich industry experience in US and Indian financial market has launched 3 days and 2 days GST training session from 3rd of July to 7th of July  2017 . Following are the topics covered in these 5 days: One more greater advantage you will have once you attend session and write exam you will get Certificate…

Karnataka is fully covered by ESI network Enroll before 31st of March 2017

Most of the time employer used to take an exclusion stating the reason we don't have ESI network of hospital in our District but now it cannot be claimed as Karnataka state has covered the ESI network through out  Karnataka. Even the coverage salary range is increased from 15000 per month to 21000 per month which will increase the limit applicable for ESI coverage. EMPLOYEES’ STATE INSURANCE CORPORATION: NEW INITIATIVES ESI Act applies to entire State of Karnataka. All Factories / Shops/ Establishments/ Medical Institutions/ Educational/Institutions/…

Server Error in ESICInsurance1 Application fix for the problem

Server Error in ESICInsurance1 Application fix for the problem: Most of us would have faced this error issue with ESIC login portal while trying in Google chrome or Internet explorer? How to fix this??: This is to inform you that ESIC application is better supported by Firefox browser, You are requested to use Mozilla Firefox Browser as it is much compatible with application. Please uncheck the option “Pop Up blocker” in your browser. Please go through the tools->option->content->then uncheck Pop-Up blocker-> click…

ECR Validation Tool And New Revised EPF Process Explained

The ECR format has been revised and it will be UAN based without the erstwhile member ID. Under the new process the validation process will be as follows. System Requirement for revised ECR Format Operating system: Windows XP, Windows 7 or newer (including Windows 8, 8.1,and 10)  Java: JDK 1.7 and Above Display Resolution: 1280*1024 and larger. Processor: 1GHz processor (dual-core recommended).  RAM and Storage: 1GB of RAM and 200 MB Free Spaces. In order to open ECR utility file Tool, click on the ECRM.jar file …

EPF Unified portal changes and problems in uploading ECR

Employee provident fund has switched to new Unified Portal combing UAN and ECR filing online and added many more online banking support to ease monthly filing of PF monthly return and reduced confusion among users to do different activity with 3 different logins. After launching services for online return filing(ECR), Online Registration(OLRE), Online Remittance link from SBI, EPFO launches Unified Portal with new features such as UAN based simplified ECR (ECR Version , Online payment through multi-banking and services like Online Registration…

New process for UAN generation to file EPF return using Unified portal

The process of UAN generation has been revised and linking is based on following principles The electronic return cum challan will be UAN based with new unified PF portal If the member is the first time employee then the UAN will be generated by the employer  before filing the ECR Employer should also link the existing UAN of the member with the present employment before filing of UAN based ECR Details such as name of member, date of birth, father’s / Husband’s name etc. would be same for all the employments The member details…

What is the ESI wage limit effective from Jan 1st 2017 ?

ESI wage limit has been increased to Rs 21,000 from Rs 15,000 per month and will come into effect from 1st January 2017. Further, the board has given the option to the people who are already insured to continue their membership even if the salary is above the limit of Rs 21000 per month. According to the current provision, all those who are insured under the ESIC scheme have to forgo their ESI membership and the insurance cover if the salary/ wage increases over the limit. Post the implementation additional 50 lakh members will be covered under…
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Provident fund amount withdrawal before Retirement

Provident fund can be withdrawn before Retirement ??? Employee Provident Fund is a saving instrument that is meant to provide financial stability to the employee post retirement. However, an employee does not have to wait until he retires to access the funds from the EPF account. EPFO gives right to the employee to access the fund once during the employment for various situations such as Buying a house Repayment of the Home Loan Medical Emergency Child education and marriage Advance for buying a house or Plot - If you…

Process of transferring EPF Account online

Employee can transfer their EPF account online by following a set process. Transfer of the EPS should be done as soon as an Individual is changing the job. With the advent of Universal Account Number and online Provident Fund transfer methods it has become easier to transfer the PF account. Further, the employee can also withdraw the PF balance without the need of consent from the employer. Transfer Rules An Individual can transfer the EPF balance from one account to another There is no time limitation set by the authorities for EPF transfer …

Activation Process Of Universal Account Number And Its Benefits

Universal Account Number has been provided to every member who is contributing to the fund. Employers are now enabled to download the list of UAN numbers and give it to their employees. Employer can get the list from the Employer UAN portal. Under this scheme, members will be able to submit the claim  online. Process Of UAN Activation There are few steps that a member will need to follow to activate UAN Number and start transferring the payment online. Before starting with the registration process, keep your universal account number and…

Idle PF Accounts To earn Interest

In a big relief to Provident fund account holders, Union Labor minister announced that now idle PF accounts will earn the interest rate. There are around 10 crore employees who have PF funds account and the ministry has decided that if the money deposited in these accounts and is kept idle for more than 36 months then it will earn interest. Interest On Idle Accounts Since 2011, the inoperative or idle PF account did not earn any interest and if there has been no contribution during the past 36 months, the account were classified as inoperative.…