59 Minutes Loan
, ,

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…
, ,

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…
, ,

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…
, , ,

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…

Local and outstation cheque collection charge may go up | Local Cheque collection charges

Cheque payments set to get costlier From Friday cheque collection charges may go up, as the Reserve Bank of India (RBI) has allowed banks to levy higher service charges for their clearing,especially of high-value and outstation cheques. As per a Reserve Bank Of India circular coming into effect on April 1,2011,banks will be free to fix service charges on speed-clearing of cheques of value above Rs 1 lakh.At present,Reserve Bank Of India does not allow banks to charge more than Rs 150 per cheque for speed-clearing of cheques worth over Rs 1 lakh,while…

AMFI Best Practice Guidelines on account opened on behalf of minor

AMFI Best Practice Guidelines No. 135/BP/20/10-11 dated February 9, 2011 : As communicated vide the referred Guidelines, AMFI had constituted a working group for implementation of NISM Recommendations on "Operational Risk Issues in Mutual Fund Investor Service Processes".The working group has specified a uniform set of guidelines which broadly covers the following areas:   A. Where Accounts are opened "On Behalf of Minor" B. When "Minor attains Majority" C. Change of Guardian D. Nomination facility E. Transmission On each…

Banks will extend working hours on March 30, 31- RBI

Banks will extend working hours on March 30, 31- RBI: The Reserve Bank of India asked banks to have extended working hours on March 30 and 31, 2011, to facilitate receipt of government revenue from members of public even at late hours. It has been decided in consultation with the Controller General of Accounts that all regional offices of RBI and branches of agency banks conducting government business will suitably extend the banking hours to conduct government business by keeping their counters open for the purpose on March 30 and 31, 2011,…

Rs.150 in coin form soon | Higher denomication coins soon

For the first time in the country’s minting history, government will issue coins of Rs. 150, marking the number of years of taxation in India. The special coins, to be released by Finance Minister Pranab Mukherjee before his Budget speech, will also be brought out in Rs. 5 denomination on the occasion of completion of 150 years, from 1860 to 2010, of the Income Tax department. This is the first time that coins of Rs. 150 denomination are being minted by the government. The Department of Economic Affairs under the Finance Ministry recently…

TRAI new SMS Regulations | SMS providers need to follow the new TRAI's Guideline

Guidelines for Access Providers 1. Every Access Provider shall provide toll free short code 1909, with sufficient number of lines for registration of preference/change of preference/deregistration of customers on National Customer Preference Register and for registration of complaints. 2. Every Access Provider shall, ensure that no telecom resource is provided to a telemarketer unless he has registered itself with TRAI. 3. Every Access Provider shall, before providing any telecom resource to a telemarketer, obtain a copy of the application…

KYC compulsory for all Mutual fund investors | Third party payment not accepted for mutual funds

Complete your KYC formalities before Jan 1 STARTING January 1,2011,Know-Your-Customer,or KYC,norms will be mandatory for all mutual fund investors irrespective of the amount you invest.Till now,retail investors who invested less than 50,000 were not required to follow KYC guidelines.They could invest by merely submitting a copy of their self-attested PAN card. KYC-Compliance :CDSL Ventures (CVL),a wholly-owned subsidiary of Central Depository Services-India (CDSL),has been appointed by the mutual fund industry to do KYC verification of…

PAN must for Mutual fund investment | Mutaul fund holders submit PAN | Investment in mutual funds can happen from your own Bank account

All mutual fund investors, new as well as existing, will need to mandatorily furnish their PAN (Permanent Account Number) details from next year irrespective of the size of their investment. The move is part of the revised Know-Your-Customer (KYC) compliance norms to be adopted by fund houses from next year in order to comply with money laundering prevention rules. Currently, individual investors need to quote PAN only for investments of Rs 50,000 or more, although non-individual investors are required to quote their PAN for all amounts. All…

ASBA for Investors | Application Supported by Blocked Amount for IPO | No refund worry

Now retail investors can apply for any IPO with moving their cash but the same will be blocked in their account and taken only once you got the allotment of share. Investors would be curious to know how it work? 1. What is “ASBA”? ASBA means “Application Supported by Blocked Amount”. ASBA is an application containing an authorization to block the application money in the bank account, for subscribing to an issue. If an investor is applying through ASBA, his application money shall be debited from the bank account only if his/her application…

IPO limit for retail investors now Rs.2 Lakh | Retail cap for IPO increased

Securities and Exchange Board of India has raised the limit for retail investors in initial public offers of shares of companies to Rs. 200,000 from Rs. 100,000 earlier, Chairman C.B. Bhave said after a board meeting on Monday. The board has decided to double retail limit as it was fixed long back and also taking into consideration the inflation over the period, he said. This limit willnot be effective for  Power grid IPO which is scheduled to open on November 9th 2010. The upcoming share sale by Power Grid Corporation may not benefit…

ULIP beneficial for policy holders? | ULIP norms effective from September 1 2010

For one, insurers will have to offer a minimum prescribed return. Starting Wednesday, policyholders will get a much fairer deal if they invest in unit-linked insurance plans (Ulips). The new rules of the Insurance Regulatory and Development Authority (Irda) take effect from September 1. Ulips, which contributed 80 per cent of the total premium collected by private companies, will see a dramatic change. Irda has capped the difference between net and gross yields during the policy term. Insurers will have to offer a minimum prescribed return…