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 […]
What is the Income Tax? A tax on income is a type of charge the Government is authorized to impose on the annual income of businesses and individuals. Taxpayers are bound by the law to file annual tax returns to ascertain their tax obligations. Tax obligation is usually proportionate to the income of an
The Previous Taxation System Before the introduction of the GST tax system and GST registration, the Union and the states calculated and levied taxes based on numerous stages of taxation on a product or commodity, under their laid-out systems and laws. For every junction of the economic environment, different goods and services were put
