To encourage financial independence after retirement, the Government introduced various sponsored pension schemes to help individuals build a retirement corpus. But to avail such pension, individuals need to furnish Life Certificate to the institution that is authorized to disburse pension into their account. Such a life certificate serves as proof of their existence for receiving […]
The Scheme for Celebration of Birth/Death Anniversary of Eminent Personalities is an initiative by the Government of India to honor and remember the contributions of great leaders, freedom fighters, social reformers, and other notable personalities. This scheme provides financial and logistical support for organizing events, seminars, and cultural programs on their birth or death anniversaries.
Gifting is part of Indian culture, which embodies sharing and generosity. However, a property transfer gift must follow a legal process through gift registration. A gift deed is a legal document that legally registers a property transfer In India, property transfers as gifts are governed by the Transfer of Property Act, 1882 (“Act”). A gift
An electronic waybill for the transport of commodities is known as an E-way bill. It aids in the tracking of goods flow following GST regulations and aids in the prevention of tax evasion The ewaybill (EWB) portal provides a seamless gateway to generate eWay bills (single and consolidated options), change vehicle number on the already generated EWB
Funding refers to the money required to start and run a business. It is a financial investment in a company for product development, manufacturing, expansion, sales and marketing, office spaces, and inventory. Many startups choose to not raise funding from third parties and are funded by their founders only (to prevent debts and equity dilution).
The ITR-2 is filed by the individuals or HUFs not having income from profit or gains of business or profession and to whom ITR-1 is not applicable. It includes income from capital gains, foreign income, or any agricultural income more than Rs 5,000. The ITR-2 is a form used by Indian citizens as well as non-resident Indians
The term bootstrapping refers to a situation in which an entrepreneur starts a company with little capital. When an individual bootstraps, they rely on money other than outside investments. An individual is said to bootstrap when they attempt to establish and build a company from personal finances or the operating revenues of the new company. Bootstrapping also
Aadhaar Virtual ID (VID) is a 16-digit temporary number linked to your Aadhaar card. This innovative feature allows you to use a VID instead of your actual Aadhaar number for authentication and e-KYC services. As a business owner or merchant, understanding VID can help you offer secure verification options to your customers while protecting their sensitive
Receivables, also regarded as accounts receivable, are debts owed to a firm by its customers for goods or services used or delivered but not yet paid for. Receivables are created by expanding the line of credit to customers and are listed as current assets on the company’s balance sheet. They are considered as liquid assets since they can be
A global depositary receipt (GDR) is a negotiable financial instrument issued by a depositary bank. It represents shares in a foreign company and trades on the local stock exchanges in investors’ countries. GDRs make it possible for a company (the issuer) to access investors in capital markets beyond the borders of its own country. GDRs are commonly used
CA Bhuvnesh Kumar Goyal
Chartered Accountants
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