In India, Micro, Small, and Medium Enterprises (MSMEs) are the backbone of the country’s economic growth, generating employment and contributing significantly to the GDP. However, accessing credit has often been a significant challenge for such enterprises, especially for startups and small-scale businesses. This is where responsible lending plays a transformative role. At LendingKart, responsible lending […]
The Income Tax Act of 1961 classifies businesses into speculative business and non speculative business categories, depending on their nature. Businesses with incomes heavily dependent on a specific outcome or probability are termed speculative, whereas all the others are termed non-speculative. The income and losses from speculation business in income tax are treated differently
A business is usually a full-time task and often, the owner may find it challenging to fulfill duties towards taxation. This is when the GST authorization letter comes into use. A Letter of Authorization for GST is a crucial document in the Indian business landscape. It empowers an individual or entity to handle GST-related
A loan can help you in multiple ways. Want to buy a home? Or the car of your dreams? You have a personal or home loan. Need funds for your startup? You have a business loan to take care of it. There are multiple types of loans offered by financial institutions that can take
How to Check RTGS Status With UTR Number? A Step-By-Step Guide
One of the earliest electronic fund transfer systems to be introduced in India is real-time gross settlement (RTGS). As the name implies, fund transfers through RTGS are effected immediately without any delay. This is primarily because the transactions are settled individually as and when they are placed instead of in batches. One of the
What is Mudra Loan? A Mudra Loan is a financial assistance scheme run by the government of India under the Pradhan Mantri Mudra Yojana (PMMY) with a goal to provide financial assistance in the form of more accessible loans to Micro Small and Medium Enterprises (MSME) in the country. This scheme. Under these schemes
Securing financial funds is necessary to make any project/business successful. For small business owners and naive entrepreneurs, understanding the compelling format for a project report is essential. This comprehensive guide entails all the key components that can make your project report for business loan stand out. We’ll discuss every aspect in detail so that
