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
GST compliance in India involves regular filings, documentation, and communication with tax authorities. However, business owners may not always handle these tasks personally. In many cases, responsibilities are assigned to employees, accountants, or external professionals. This is where the Letter of Authorisation for GST becomes essential. It formally allows an individual to manage 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
Real-time Gross Settlement (RTGS) is one of the fastest electronic fund transfer systems in India. If you want to confirm whether your money has been successfully transferred, you can perform an RTGS status check using UTR number. The RTGS UTR number tracking process helps you identify and verify your transaction instantly. 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
Project Report for Business Loan: Format, Sample & Step-by-Step Guide
Securing external funding is often a crucial step in starting, expanding, or modernising a business. However, lenders do not approve loans based solely on an idea. They need evidence that the business has a clear plan, realistic financial projections, and the ability to repay the borrowed amount. This is where a project report becomes
