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…
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GST Notification on extension of facility of LUT to all exporters issued

GST Notification on extension of facility of LUT to all exporters issued: Notification on extension of facility of LUT to all exporters issued. Government of India Ministry of Finance (Department of Revenue ) [Central Board of Excise and Customs] Notification No. 37 /2017 – Central Tax New Delhi, the 4th October, 2017 G.S.R….(E).- In exercise of the powers conferred by section 54 of the Central Goods and Services Tax Act, 2017, and section 20 of the Integrated Goods and Services Tax Act, 2017, sub-rule (5) of rule 96A of the Central…
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Annual filing by companies incorporated under the Companies Act, 1956/2013 for financial year 2016-17

Annual filing by companies incorporated under the Companies Act, 1956/2013 for financial year 2016-17: GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS OFFICE OF THE REGISTAR OF COMPANIES RoC-Delhi Dated: 04-10-2017 Dear Sir/Madam, Subject: Annual filing by companies incorporated under the Companies Act, 1956/2013 for financial year 2016-17 1.As you are aware, Companies are statutorily required to file Annual Return and Financial Statements every year. These filings account for approximately 50% of the total filings done during the year.…
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GSTR-1 Save/Action on Counterparty Invoices/Submit are not allowed for current date

GSTR-1 Save/Action on Counterparty Invoices/Submit are not allowed for current date, Please visit https://www.gst.gov.in for details on GSTR-1 timelines. Getting this error while filing GSTR-1 for August month ? The reason for this is " GSTR 1 FOR August will start after GSTR 3 of July i.e. 10th November 2017 now you can save date but not cannot submit"  You need to wait till July account is settled and GSTR 3 is reconciled. If you try to submit GSTR-1 for August you will get  error like this.  
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e-way bill is live now under GST

In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government hereby makes the following rules further to amend the Central Goods and Services Tax Rules, 2017, namely:- (1) These rules may be called the Central Goods and Services Tax (Sixth Amendment) Rules, 2017. (2) Save as otherwise provided in these rules, they shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint. 2. In the Central Goods and Services Tax…
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Unable to connect to the installed EMSigner | Ports 1585, 2095, 2568, 2868, 4587 problem

Most of the GST tax payer during GST return filing i.e. GSTR3B for next 2 months are facing problem of submission when they are using Sign with Digital signature option ( Sign with DSC is applicable for Private limited companies, Limited companies or LLP's .) getting error message as "Unable to connect to the installed EMSigner. Please close any other application running on following ports 1585, 2095, 2568, 2868, 4587 and restart your system, and try again." but when you open emsigner it is still running on port 1645. What to do? We have many good…
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GST Transition- Carry forward of ITC on Stock held on appointed day

GST Transition- Carry forward of ITC on Stock held on appointed day. Carry forwarding of existing ITC of the stock held on the appointed day is the first basic step that a business house needs to look into for a smooth transition into the GST regime. As the clock is ticking understanding the Transition Provisions and their implementation thereon is of the prime importance. Proviso to Rule 1 of the Draft Transition Rules under the SGST Act provides that while claiming Input under Section 140(1) of the GST Act the applicant shall specify separately: …
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Invitation to join Knowinfonow.com Submit Articles

Invitation to join Knowinfonow.com Submit Articles Knowinfonow.com would like to invite Authors to join our blog www.knowinfonow.com . The Authors who like to be Part of  Knowinfonow.com and get their article published on our website can mail their article to us and we will publish the same with due credit to the author. Knowinfonow.com is a unique and focused portal on taxation, Accounting, Finance, Audit and Corporate law. We are currently providing all news and analysis on taxation, Accounting, Finance, Audit , GST., ESI/PF and Corporate…
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Failed to establish connection to the server . Kindly restart the Emsigner Click here to troubleshoot

Most of the business owners or CA or CS or Audit professionals getting error as "Failed to establish connection to the server . Kindly restart the Emsigner Click here to troubleshoot "  while registering digital signature certificate in GST portal . This is might be you have not installed Emsigner or Java is not installed in your system. GST portal gives Internet Explorer 10+/ Chrome 49+ or Firefox 45+ it supports  and Java needed is Java 1.6 JRE 1.6.0_38+, Java 1.7, Java 1.8 but most of the time if you have java 8 update 111 which is the latest…

e-Service Tax On Overseas e-commerce Companies

Government has made a major change in the indirect tax which is now being implemented. From now on the customers who buy products from various foreign websites, including online games, e-books, software and various other intangible products will now have to pay higher tax. The government has levied 15% tax on all such purchases which means that the new price will be inclusive of 15% tax levied by the government. Nature Of the Tax: Regrading this, Central Board of Excise and Customs issued notification stating that e-service Tax will now be levied…

No service tax can be levied on Non-Air conditioned restaurants

No service tax can be levied on Non-Air conditioned restaurants: Service tax will not be levied on customers dining in restaurants without air conditioning facility or central heating, the finance ministry has clarified. Even the restaurants that have ACs or central heating will levy service tax only on 40% of the total bill amount, the ministry said in a statement. In case of air-conditioned or air-heated restaurants, "60% of the value is to be deducted from the total amount charged while applying the rate of service tax and tax is to .. The…