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…
UIDAI-Facial-Recognition

Facial recognition now mandatory for buying SIM and other services

The facial recognition is mandatory for all the authentication that requires Aadhaar. According to the Unique Identification authority of India, the facial recognition would be an extra feature in addition to the regular authentication process which includes verifying the identity of the person through the iris scan and fingerprints scan. UIDAI has already issued the circulars regarding the same to the Authentication user agencies, Authentication service agencies and certified biometric providers. The UIDAI has made it very clear that failure…

What is Ayushman Bharat Scheme and who is eligible? |Apply for Ayushman online

Ayushman Bharat is the National Health Protection Scheme aimed at covering more than 10 crore citizens of India who are below the poverty line according to census 2011. The government has decided to provide the coverage of maximum 5 lakh rupees per family, every year for secondary and tertiary care hospitalization. Both Rastriya Swasthya Bima Yojana and the Senior Citizen Health Insurance Scheme would be subsumed by the Ayushman Bharat Yojana. All pre-existing conditions are covered from day one of the policy. The benefit cover will include…
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What is e-Pan and how to apply for it?

e-Pan Card facility has been launched by the Income tax department for the ease of the citizens who want instant PAN card, simply by applying online. The card facility is free of cost and as of now Beta version has been rolled out. Eligibility For someone to get the ePan, it is mandatory to have an Aadhar Card. Also, those who have Pan card already cannot apply for the ePan facility. Further, it is not possible to get ePan for company or LLP or partnership firm. Only Indian residents can apply ePan except the minors and people who do not fall…
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Here is how to withdraw 75% corpus from EPFO account?

Under the new rule Employee Provident Fund Organization has given green signal to the employees to withdraw 75% of the fund corpus, one month after the unemployment. The 75% of the total amount in the EPFO account can be withdrawn as advance according to the authorities. Why the decision? An individual is eligible for the pension on his EPFO account if the account is active for 10 years. However, after losing the job, the common trend is to close the account after two months and in that case an Individual loses the provision of pension. To make…

What is Virtual ID and how to get one on UIDAI platform?

The Virtual ID is the temporary random number linked to the Aadhar number of an Individual. The number is revocable, and it is not possible to extract the information about Aadhaar through the Virtual ID. Just like Aadhar, Virtual ID can also be used for authentication in various cases. At present the authorities have made it possible to generate the VID through the UIDAI’s portal. UIDAI has instructed entities to start upgrading their system so that they can accept VID. Where can VID be used Just like Aadhaar, VID can also be used for different…
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How to import and view Form 26AS ?

Form 26AS is the tax credit statement which is a very useful document, required for filing the tax. The information of Form 26 AS can be imported directly, while filing the Income Tax Returns. Let us understand about the Form 26 AS and how to download it. What is Form 26 AS? It is the details of tax collected by the collectors Self-assessment of tax payment It contains the details of the high value transaction related to shares, mutual funds and so on. Details of advance tax paid by the taxpayer Refund received by the tax payer during the…

New passport verification rule - verification through CCTNS

Under the new passport verification rules, the passport verification would be done with few simple clicks instead of police verification. The Central government is working towards merging the process of verification with Crime and Criminal Tracking network and systems project( CCTNS). Although, the system was thought of during the regime of the UPA government, it could never become the ground reality. If the CCTNS is indeed implemented, the need of police verification for the new passport would not be there. Not only the new process would simply…
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Different type of GST ledgers a Taxpayer should maintain under GST

Under GST, the government requires every tax payer to maintain three GST ledgers and calculate the GST liability on monthly basis. During the calculation the Input tax liability should be calculated and matched with the Outward tax liability. Whatever is the balance should be paid to the government. There are three GST ledgers needed to be maintained: Electronic Tax Liability GST Ledger Electronic Cash Ledger Electronic Credit Ledger Electronic Cash Ledger – Under this ledger, one must show the total tax liability of the registered taxpayer.…
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How to change GST Username and Password ?

GST registered users have often complained that they are facing issues in changing their username and password. In several cases, the intermediaries who were hired by these taxpayers to complete the process of registration used their own email and mobile number which has made it difficult for them to take the full control of their account. Keeping this in perspective the Finance Ministry has now come up with the option of changing GST username and password. The concerned ministry has  laid down the steps which are required to be fulfilled by the…

Pan Card is now mandatory for availing benefits under LRS

Pan Card is now mandatory for sending the money abroad under the revised norms. The government has decided to make the Liberalized Remittance Scheme stricter wherein an Individual who is availing the benefit of the scheme should be furnish the Pan card as and when required. Earlier, if the beneficiary of the scheme is ceiling the transmit to $25,000 there was no requirement of the Pan Card. However, under the new norm, this ceiling has been removed. What is Liberalized Remittance Scheme? The window was offered in the form of LRS by the…