As the financial year draws to a close, it’s crucial for businesses and individuals to ensure their financial affairs are in order. Proper planning can prevent last-minute hassles, ensure compliance, and optimize tax liabilities. Here’s a comprehensive guide to the ten key areas you should focus on before March 31, 2025. 1. Verify Income Tax …
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Credit Guarantee Fund Scheme: Benefits, Eligibility & Process
A Credit Guarantee Fund Scheme (CGFS) is designed to support small businesses, startups, students, and low-income borrowers by offering guarantees to lenders against default risks. It encourages banks and financial institutions to provide loans without collateral, making credit more accessible. Importance of Credit Guarantee Schemes Helps small businesses grow by easing access to finance. Encourages …
Most Common Mistakes to Avoid When Filing ESI Returns
The Employee State Insurance (ESI) scheme, governed by the Employees’ State Insurance Corporation (ESIC), is a self-financed social security and health insurance scheme for employees earning ₹21,000 or less per month. Employers with 10 or more employees (20 in some states) are legally required to register under the ESI Act, 1948. Importance of Filing ESI …
How Can NRI File ITR in India? A Comprehensive Guide
Filing an Income Tax Return (ITR) is a critical responsibility, even for Non-Resident Indians (NRIs) who might not live in India but earn income there. Although NRIs have different tax liabilities than residents, compliance is essential to avoid penalties, especially for those with assets or investments in India. Here’s a detailed guide on how NRIs …
What is a Trust? Trust Registration
Trusts are a fundamental component of estate planning, allowing individuals to protect and manage their assets both during their lifetime and after their passing. In essence, a trust is a legal arrangement where assets are held by a trustee for the benefit of one or more beneficiaries. Trusts provide a mechanism for asset management, wealth …
Benefits of E-Filing Income Tax Returns
Introduction: Benefits of E-Filing Income Tax Returns is an annual obligation for individuals and businesses alike. In the digital age, e-filing has revolutionized the tax filing process, offering convenience, efficiency, and a host of other benefits. In this blog, we will explore the methods of filing returns, delve into the advantages of e-filing income tax …
How to do Startup Valuation For Startups!
Startup valuation is a crucial aspect of starting a business. It is the process of determining the worth of a company, which is used for a variety of purposes such as fundraising, mergers and acquisitions, and even selling the company. A startup valuation helps entrepreneurs understand the value of their company, set realistic expectations for …
How to Draft Legal Notice for Company Closure
Are you thinking of your company closure? Read to know the legal formalities of how to Draft Legal Notice for Company Closure. The process of closing a company is the procedure of bringing the company’s life in a way to an end. During the winding-up procedure, the firm’s assets are managed to benefit its creditors …
What is the Meaning of FORM MD-7 and FORM MD-9?
A person or a company involved in the manufacturing of Medical Devices in India can distribute/communicate the products by applying through the concerned Authority. The process of application is to apply for a Loan or grant, or a license to sell or distribute products in India. In the the Medical Devices Rules, 2017, an Manufacturing License to Manufacture …
Collectors Told to Enforce New Rules on Hotel Service Charge
The Central Consumer Protection Authority (CCPA) has focused district collectors to confirm enforcement of guidelines issued in regard to service charge by hotels and restaurants. On receiving grievances, the district collectors have been directed to inspect and submit the report to the CCPA within 15 days. The CCPA has also printed to chief secretaries of …