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…

How to open Public provident fund account? | How to contribute to PPF?

Who can open Public provident fund account? Any individual may, on his own behalf or on behalf of a minor of whom he is the guardian, subscribe to the Public Provident Fund (thereafter referred to as the fund) any amount not less than Rs. 500 and not more than Rs. 70,000 in a year. Non Resident Indians are not eligible to open an account under the Public Provident Fund Scheme (1) Every individual desirous of subscribing to Fund under the Scheme for the first time either on his own behalf or on behalf of a minor of whom he is the guardian…

Enroll for ESI | Employee state insurance mandatory for unit employing more than 10 employees

Employee stat insurance corporation is mandatory in a factory or establishment having 10 or more person ... If you fail to register anytime ESI inspector may visit your unit to explain the statutory requirement and as an employer you need to pay from the date your unit crossed 10 or more and whose salary as of now is less than Rs.15000.00 backdated.  MEDICAL BENEFITS:   OPD and In-patient Treatment for sickness, maternity & employment injury through 101 esi dispensaries and 8 ESI hospitals. Super specialty tratment…

PF deduction on Gross salary? | MP High court verdict to impact PF deduction across India?

Retirement fund manager EPFO will seek the legal opinion on implementation of the order of the MP High Court throughout the country under which employers and employees will be required to increase their contributions to the provident fund. “We will seek legal opinion and also the opinion of Ministry of Law and Justice Ministry, through Labour Ministry, on the MP High Court order throughout the country,” Central Provident Fund Commissioner Samirendra Chatterjee said. The Madhya Pradesh (MP) High Court in its recent order said that regular…

Know Your EPF Balance | Know Your Provident fund balance

Know Your Provident fund balance (Service launched on 01/07/2011) Please click on the following link to know the balance in your EPF Account upto the date, the accounts are updated, which also includes the latest approved transactions of settlement/advances/transfer-in/transfer-out, if any. Select the EPFO office where your account is maintained and furnish your PF Account number. Leave the extension field blank, in case your account does not have one. You will be asked to enter your name and mobile number. The given mobile…
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Provident fund withdrawal taxable? | Premature withdrawal of PF taxable?

EPFO Faces Rs 7K Cr Tax Demand on Early Fund Withdrawals : The Income-Tax (I-T ) department has slapped a tax demand on the Employees Provident Fund Organisation (EPFO) the custodian of 5.87 crore workers retirement savings. The tax assessment,served on two PF offices for failing to tax premature withdrawals by workers,would translate into a tax liability of around Rs 7,000 crore for all PF offices from 2007-08 to 2009-10.The move also means that all early withdrawals by workers from their PF savings would now be fully taxable.Tax officials…

E-filing of Monthly return of Provident fund | Emplyer can e-file return in PF | Online filing of EPF

E-filing of Monthly return of Provident fund: When you click on the link of E Return Setup the first page will contain two functions one for Addition of Establishment and the second one is for Selecting and Logging in the selected establishment. EPFO Launches online receipt of Electronic Challan cum Return (ECR) from the Month of April 2012 (March paid in April). Employers are requested to Register their establishments and create their user id and password through this portal. The registered employers can upload the Electronic Return and…

Provident find Launches SMS Facilities for its stakeholders | PF on your mobile

Launches SMS Facilities for its stakeholders : EPFO Launches SMS Facilities for its stakeholders EPFO today started a value added service for its subscribers. Intimation to subscribers regarding settlement of claims will be sent to any subscriber who has submitted his/her mobile number while submitting the claim. The service provider for this is BSNL. EPFO offices located across the country will pump their claim settlement data to the FTP server placed at National Data Center at New Delhi on a daily basis. BSNL will collect, and consolidate…

who is covered under The Employees' State Insurance Act ? | COVERAGE UNDER THE ESI ACT, 1948

COVERAGE UNDER THE ESI ACT, 1948 Under Section 2(12) The Act is applicable to the factories employing 10 or more persons irrespective of whether power is used in the process of manufacturing or not. Under Section 1(5) of the Act, the Scheme has been extended to shops, hotels, restaurants, cinemas including preview theatre, road motor transport undertakings and newspaper establishment employing 20 or more persons. Further, u/s 1(5) of the Act, the Scheme has been extended to Private Medical and Educational Institutions employing…

Register for ESI online ? | How to register for ESI? | ESI employee registration process

Emplyoees' state inusurance corporation online????  Register employees online Printing of Temporary ID cards Generation of Payment challan (Note: From Now onwards payment of ESI contribution / Dues in SBI may eb made through system generated challan only) Any help .... One can contact .. Sub Regional office Bangalore South( Bommasandra) No,23, 9th B and C main, B.T.M Ring Road, Bangalore-560029 Helpline no. 26786391/9 E.S.I. Scheme being contributory in nature, all the employees in the factories or establishments…

Time to save your PROVIDENT fund from not getting Interest | Activate your PF account

PROVIDENT fund subscribers who have in operative accounts from their earlier jobs will not lose interest if they file an application for withdrawal of accumulated funds or transfer to an operative account before March 1,2011 even if the settlement happens later. The Employees Provident Fund Organisation has decided against penalising account holders for the delays as it prepares to receive lakhs of applications for settling inoperative accounts.We plan to give interest on PF deposits in inoperative accounts if the delay in transfers or closures…