How Digitization Can Help SMEs In India?
SMEs in India contribute to around one-third of the country’s GDP- Gross Domestic Product. SMEs and MSMEs in India play a crucial role in India’s development and employ over 110.9 million people. In addition, many government schemes such as Start-up India, Digital India, E-Governance, etc. are also helping the MSME sector in India. These government schemes are helping in empowering the SMEs in India by helping in improve their operational efficiency and customer reach. With the advent of technology, improved infrastructure, and online transactions, a newer market is open for the SMEs in India. This is opening new opportunities for
Read moreWhat Are The Benefits Of Financial Planning For A Business?
Financial planning is an important aspect for a business. Finance is a business’s lifeline and without it, no business can run. So, it turns imperative for a business to plan its finance in order to manage it in an effective manner. In this blog, we shall discuss what financial planning is and its benefits and importance. What is Financial Planning? Also Read: How to Create A Business Plan for your Small Business? Financial planning is a process by which a business provides a framework to achieve its goals in a systematic and planned way. Financial planning and analysis show the business
Read moreHow Can Short Term Loans Help You Improve CIBIL Score?
Short term loans are availed for a short period of time, ranging from 6 months to 24 months. The short term loans are availed to meet short term needs of the business and are usually used to finance short goals. The short term loans for business are usually not availed for capital investment or to buy machinery. Said this, there are times when the business loan lender rejects your application for low CIBIL score. A CIBIL score is a 3-digit number that signifies the borrower’s creditworthiness. And NBFCs and banks mostly rely on it to evaluate the eligibility of the
Read moreFinancial Year vs Assessment Year: What Is The Difference?
Financial year and assessment year are often taken as interchangeable. However, there is a difference between the two. Also, for taxpayers who know that they are different, they often get confused between the two. So, let’s get this issue solved. In this blog, we shall discuss what financial year and assessment year are and the difference between the two. What is Financial Year? Also Read: Income Tax e-Filing: The Easiest Way To e-File Income Tax In India The financial year is the year in which an individual earns income. The financial year in India starts from April 1 and ends on
Read moreHow to Calculate Capital Gain Tax In India?
Capital Gain is the profit earned when an individual sells his own capital asset(s) for a price more than the purchase price. And the capital gain tax is charged on the gain or profit as it is termed as income. In this blog, we shall discuss what capital asset and capital gain tax are and how to calculate it. What do you mean by Capital Gain? Also Read: Reverse Charge Under GST – Comprehensive Guide The gain or profit raised during the sale of a capital asset is called capital gain. This profit is considered as income and therefore, is
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