Electronic Payment Systems (EPS) in India refer to digital methods of transferring money between individuals, businesses, and financial institutions without using cash or paper-based instruments like cheques. These systems have transformed how transactions are conducted, making payments faster, safer, and more efficient. What is Digital Payment? Digital payments are transactions that occur via digital or […]
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BAANKNET (Bank Asset Auction Network) is a platform that facilitates the sale of bank assets, such as properties, vehicles, and other seized or distressed assets, through online auctions. It was introduced by Indian banks to streamline the process of disposing of non-performing assets (NPAs) and recover dues. Purpose of BAANKNET Resolution of NPAs: Banks often
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As per section 92 read with the sub-rule (1) of rule 11 of companies management and the administration rules. The objective of the aforesaid move is to reduce the compliance burden on small companies and (One Person Company) OPC and thus to correct some applied difficulties while filling the aforesaid form. Worthwhile mentioning here that
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Every assessee having taxable income, is under obligation of disclosing his income sources to the Income Tax Authority of India. This is done by filing an income tax return. One of the biggest factors which has to be considered in this regard is TDS or tax deducted at source. According to the Income Tax Act, any
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A domicile certificate is an essential certificate the proves resident of a particular state or UT issued by the state governments or administration of the respective state or Union Territory. A domicile certificate is a crucial official document that verifies an individual’s residency within a particular state or union territory, sanctioned by the respective state
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Service tax is payable to services provided by the provider. It’s similar to excise duty where an amount is payable on goods that are manufactured. It’s a type of indirect tax that is collected by the Government after consuming the taxable services provided by travel agents, restaurants, cable providers, cab services etc. Service tax was
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The Interest Subvention Scheme (ISS) is a financial support initiative introduced by the Government of India to provide relief to specific sectors by reducing the cost of borrowing. Under this scheme, the government offers a subsidy on the interest rates charged by banks and financial institutions on loans provided to eligible beneficiaries. This initiative aims
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Indira Mahila Shakti Prashikshan Kaushal Samvardhan Yojana started by the Rajasthan government is an important scheme because this scheme is made for the girls and women of the state. Under this scheme, the women of the state will be provided free computer education by the Rajasthan government. In such a situation, different types of courses will be
Indira Mahila Shakti Prashikshan Evam Kaushal Sanvardhan Yojna -RS-CIT Read More »
PERIODS OF LIMITATION PART I – SUITS RELATING TO ACCOUNTS 1. For the balance due on a mutual, open and current account, where there have been reciprocal demands between the parties. Three years The close of the year in which the last item admitted or proved is entered in the account; such year to be
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Livelihood Inclusion Financial Empowerment, also known as LIFE, is a Kerala Government initiative to provide free houses for all homeless people in the state. In the state budget 2024-25, the government earmarked Rs 1,132 crore for the LIFE Mission Kerala, which will be used to build 4.25 lakh by the end of the fiscal year.
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