Central KYC or CKYC was replaced the old KYC process. It’s centralized process avoids you to submit multiple KYC while opening savings bank accounts, buying life insurance or investing in mutual fund products into one time centralized process. How to check CKYC or Central KYC Status online? As I pointed… Continue reading
CMA means Credit Monitoring Arrangements. This full form of CMA is as given by Reserve Bank of India. For arranging working capital finance information about income, expenses, assets & liabilities is required to be given in a specific format to the bank by applicant. This specific format is referred to… Continue reading
Some points which are generally considered while preparing CMA Data The current ratio should be greater than 1.33. The sales should be generally 4 or 5 times of the amount of loan. There should be sufficient stock to act as collaterally to the loan amount. In case, there is another… Continue reading
Many goods and services has changed since the time it was introduced. For example when GST was introduced, near 229 were having GST rate of 28%. Whereas now only 31 items net are having GST rate of 28%. Below is the list of 31 items having GST Rate of 28%. This… Continue reading
Many bank rules were changed from 1st September 2019, which may have a direct impact on your life. The new set of rules has come with many benefits for the bank customers including cheap home loans and Kisan Credit Card within 15 days. In addition, the bank timings were also… Continue reading
In the recently held GST council meeting, Government has taken some bold decisions, one among them is the waiver for supplier of goods to pay GST on the advances. This is a big booster for manufacturing and trading community wherein the compliance burden would come down. We urge government to… Continue reading
What to do when you get such intimation: You are required to login to your account at ITD website and submit a response online explaining such difference within the stipulated time. In case timely response is not received, ITR will be processed without providing any further opportunities in this regard…. Continue reading
Now all details declared in your ITR w.r.t. Income (gross total income, taxable income, other income like interest income, etc.) / Deductions / TDS, are being matched with the details available in your Form 16 as well. If there is any variance in details given in ITR and Form 26AS… Continue reading
The new GST regime will comprise of the following taxes – Central Goods and Services Tax (CGST) – This tax will be levied on intra-state (within same state) supply of goods and services State Goods and Services Tax (SGST)- This tax will also be levied on intra-state (within… Continue reading