The role of a chartered accountant in India has undergone a drastic shift since the implementation of Goods and Service Tax (GST). As the nation is witnessing a technological breakthrough, business accounting software has also permeated into the accounting sector as well. To stay ahead in this digital age, you must know how to pick the best GST software to manage the transactions and maintain an impeccable financial ledger.
What to look for while choosing accounting software?
Here are a few aspects to look for in a software program for your CA firm –
You can invest in one of the top 4 GST software for CAs to lend your chartered accountant firm a much-needed boost. During the years of CA articleship, one is trained to operate this complex software. Now is your time to invest in them. An engineer loan can provide the necessary funds to meet such expenses.
GST eliminates the hassle of tax calculation and merges all other taxes such as value-added tax, excise duty charges, etc. into one single tax. Individuals, having a yearly turnover above Rs. 20 Lakh have to register them under GST. After registration, you will also receive a GSTIN, with which you can continue your business.
You can conveniently process GST registration online by following the below-mentioned steps.
Along with the certificate, you will also receive a unique GST identification number, with which you can continue your business transaction.
Availing a personal loan is the best way to fulfill the sudden cash requirement for any purpose. You may need a quick personal loan for marriage, travel or education expenses. And with online loan application facility, things have gotten easier for borrowers.
Here is a simple guide to know regarding quick personal loan application online.
Always make sure that you fill the application form online with accurate details. Any wrong information may cancel your application. So make sure that you give details of your personal, employment and financial information as required by the lender.
Choose Loan Tenor Wisely
The tenor of your personal loan determines your EMI. so be very particular to choose a suitable tenor for you. As you fill the tenor for your quick personal loan you will get to know your EMI with the help of the loan calculator. That way you can better plan your financial aspects and apply for the correct amount of loan.
To get instant personal loan one has to be sure of the right documents. Without proper document submission, your loan approval will get delayed. Make sure you keep all the necessary documents ready as you plan to apply for a personal loan online.
You would need to submit the KYC details, bank statements, salary slips and employee ID (for salaried applicants), right after approval of the documents you will get a confirmation and the loan will get disbursed quickly.
If you need a personal loan immediately, always go for online application.
According to a recent report of the Ministry of External Affairs, Government of India, more than 7,50,000 Indian students are studying in overseas and abroad destinations, and the USA is the most favoured nation. Banks and non-banking financial companies including Bajaj Finserv have made it possible for the students to realise their dream of studying their favourite course and program at any of the leading and reputed colleges of the world. However, the depreciating value of the rupee against the US dollar and other prominent foreign currencies may be a cause of concern. For instance, the value of the Indian rupee in relation to the US dollar has depreciated by around 13% since the year 2017. Here is how the depreciating value of the Indian rupee affects an education loan for abroad studies.
When the rupee falls to the dollar, parents and student have to shell out greater monetary amounts towards the fee and other expenditures related to foreign education. Therefore, students who choose the USA and other countries including the UK and Australia may find that their expenses are greater. But the rupee may be more stable in relation to the currencies of other countries including Germany, Australia, and Belgium, which are also destinations for quality education.
Therefore, depending upon the choice of the country of education, parents may be required to seek additional education loans. If the loan requirement is not fulfilled by the bank, one can also transfer the loan to any other financial company. Remember that the top-up loans may carry an extra cost (for instance a higher interest rate) and therefore you need to choose an education loan for abroad studies carefully. Choosing a leading non-banking financial company like Bajaj Finserv will ensure that you get a hassle free and convenient process for your loan. These renowned firms can also offer you loans of the higher amount and have more attractive interest rates for the secured loans.
Green buildings refer to environmentally responsible techniques and alternatives used to construct a structure. In green buildings, the structures are made to be environment-friendly and sustainable throughout its lifetime. This practice complements the traditional construction methods that factorise aspects like economy, durability, utility in their design. The importance of green buildings lies in the fact that they are environment-friendly and sustainable.
Climate change is a phenomenon that requires immediate steps against it. Global warming as a result of rampant use of non-renewable sources of energy and deforestation since the industrial revolution has put the earth’s fragile ecosystem at risk. It is a direct result of the gradual change in average temperatures around the world which is brought on by excessive concentration of greenhouse gases in the atmosphere.
Effects of global warming have come to public attention only in the last few years. Sadly, the governments have only just started acknowledging the implications of climate change and the threat it poses on humanity and the planet itself. This late realisation has been a major setback in humanity’s fight against climate change. Herein lies the importance of green buildings.
Humans have reached exceptional levels of development in technology over the last century. Considering the total number of major construction projects that are being carried out in a developing country like India, one can only begin to comprehend the ecological cost of development. Therefore, it is critically important at this stage to take necessary action so we can retrace our steps to a more balanced and sustainable model of development.
Green buildings can be the major reform to traditional infrastructure. Some may consider the method as unnecessary and time-consuming, but it’s a small price to pay for the sake of our planet.
Features and importance of green building designs
Additional read: How to determine the right analytics package for your engineering business
With the implementation of GST as a uniform tax regime, the cascading impact of multiple taxes was eradicated. This ‘one nation, one tax’ structure was aimed at mitigating complications during compliance of taxes and help reduce inflation in India’s economy. Following the considerable change in the pricing of goods and services across all genres of trade, a majority of the population are now aiming to benefit from GST registration online.
Here are a few pointers that you need to know about GST registration procedure –
Step 1: Log in to the official site for GST registration.
Step 2: Click on the ‘new registration’ tab.
Step 3: Fill in Part A of the form by providing a few personal and business details. Click on ‘submit’ and then receive an OTP on your registered number.
Step 4: Use this temporary reference number to continue with Part B of the form and submit essential documents to complete this procedure and receive a GST identification number.
Availing a personal loan is simple, as long as you meet the eligibility criteria laid down by your lender. Due to the convenience of the internet, most reputed NBFCs such as Bajaj Finserv, today offer online personal loans. Here are the steps you need to follow to avail such a loan.
Selecting the tenor can be tricky. If you opt for longer tenor, you will have more time to repay the loan, but you would have to pay greater interest. Shorter tenor can increase financial burden but reduces interest payments. With these factors in mind, opt for the tenor that best suits your financial condition.
Check your account to see whether your account was credited with the sum.
Your CIBIL score is one of the most crucial eligibility criteria that lenders check when sanctioning unsecured credits. A minimum score of 750 is essential to apply for unsecured credits like personal loans and credit cards.
Since these credits are collateral-free, a high score acts as a security for the financial institutions. It tells that you have handled all your previous credits responsibly and have lesser chances of defaulting.
Hence, improving your credit score is critical, and some of the ways to do so are mentioned below:
1. Avail a Credit Card
Using a credit card is one of the easiest ways to do so. However, you need to be responsible when using the card.
2. Always Pay The Total Amount Due
A credit card statement displays two payable amounts –
3. Keep The Credit Utilisation in Check
Your card comes with a pre-set credit limit, which is the maximum amount you can borrow or spend with it. Using the entire limit makes you credit hungry. Hence, try to keep the utilisation ratio low. Usually, using only 30-50% of your card limit improves your score.
4. Refrain From Applying For Multiple Credits
Financial institutions conduct credit enquiries when you apply for a loan. These checks lower your score. Hence, refrain from applying for too many of them at once.
Use these points in your favour to improve your CIBIL score. A high score will also enable you to avail the best interest rates while applying for a personal loan.
Must Read: 4 Steps to Improve Your CIBIL Score
According to a survey, there has been a rise (around 400%) in the complaints regarding medical negligence. This rise has increased the demand for professional indemnity insurance for doctors. In simple terms, professional indemnity insurance is a type of liability insurance which protects professionals from bearing a loss caused by any negligence during treatment of patients. The insurance company manages specific confidential data of its clients and provides indemnity services accordingly.
The insurance companies also provide professional indemnity insurance for doctors to protect them from false allegations. It safeguards many practitioners financially and assists in dealing with such false claims legally.
Features and benefits of professional indemnity insurance for doctors
Personal loans can help you avoid unnecessary financial stress by becoming a source of emergency funds when your savings are insufficient. However, before opting for an online personal loan, you should check the following factors to ensure speedy disbursement and convenient repayment.
1. Loan Amount
You need to determine the loan amount you require from the lender. Even when you are eligible for larger sums, you should stick to availing just as much as you need and not more.
2. Calculate EMI
Do not let your monthly instalments get out of hand. Make sure you exactly know how much you need to pay the EMIs in time. Online personal loan EMI calculator can help you in this regard.
3. Loan Tenor
Selecting the appropriate tenor for loan repayment is crucial. Ensure you are comfortable with the period for repayment and that it does not burden you excessively. Picking a suitable repayment tenor is one of the simple ways to manage your debt.
4. Prepayment and Foreclosure Options
If you happen to come across a substantial sum of money during loan repayment, you can clear off your entire debt at once. This is foreclosure. If you decide to pay a substantial portion of the loan, but not the entire sum, it is prepayment. Several lenders often charge a fee for both prepayment and foreclosure. Learn about these fee details before opting for the loan.
5. Check Eligibility Criteria
When opting for an online personal loan, you can easily check the criteria you need to meet to acquire such a loan. Understand which documents you need to furnish, at the same time.
6. Loan Approval and Disbursement Procedure
You should inquire to the lender about the exact loan processing method, including the time taken for approval and disbursement of the same.
Keep an eye on these factors to manage your personal loan better and to ensure easier repayment.
Goods and Services Tax came into effect on 1st July 2017 in an attempt to ease the taxation national taxation structure. GST submerges all other applicable taxes such as customs duty, excise duty, value-added tax, etc. into a single fee.
The GST rates in India are different for multiple categories, such as gold is levied with 3% of GST. Some products like alcoholic drinks, petroleum and petroleum-based products are charged differently and do not fall under GST.
Let us understand the GST slabs.
Gold is taxed at a rate of 3%. The tax on making charges has been reduced from 8% to 5% and is how GST affects gold jewellery.
Apart from gold, GST rates are divided into four categories, such as 28%, 18%, 12% and 5% depending on different services and products.
GST slab for services
it is mandatory for every business to attain register for their unique GST identification number and GST registration certificate to continue and expand operations. This GST registration is a crucial document that you have to furnish while you avail credits such as business loans.
The GST registration procedure is convenient, and you can do so online.
After you complete your IPCC examination, you have to take a three years CA articleship training under a practicing CA as a part of your course. Students are given an option to quit from the CA articleship training for the last year and work as an employee under a practicing CA.
This training provides experience and trains you to deal with real time projects and enhances your quality. This experience can help you while you set up your CA firm and will also assist you in dealing with several problems. Thus, it is mandatory for you to undergo the CA articleship training for 2 to 3 years. Read on to know how to enrol yourself for such training.
With the availability of several advances like a loan for chartered accountants, India has witnessed a handful number of CA firms. Thus, a student undergoing CA courses should never refrain from the articleship training as it will assist them in gaining experience and having a successful career ahead.
Personal loans are gaining fast popularity in India’s lending market. This easy-to-avail credit facility has gained momentum for its unique features such as no end-usage restrictions, instant approval, zero-collateral, and many more. However, you need an indicative tool that determines your loan eligibility and your monthly payable instalments. Hence, you can use an eligibility calculator and EMI calculator to determine these factors.
How to Calculate The Loan Eligibility?
Before applying for a personal loan, determine your eligibility in the following manner –
How to Determine your EMIs?
If you opt for a personal loan online and want to determine your EMI amounts, follow these steps –
Performing such calculations before applying for a personal loan can help accurately plan your finances to benefit the most from the credit. Refer to leading lenders such as Bajaj Finserv to enjoy further repayment-friendly features.
A personal loan for a wedding is the solution to your financial crisis that restricts you from making your day of marriage extra special. Availing these loans can also be beneficial if you are hosting a destination wedding. These loans can also provide the funds needed for an exotic honeymoon.
You need to keep the following points in mind before you apply for a wedding loan –
1. Your Credit Score
You need to have a minimal CIBIL score of 750 to successfully avail these loans with the best terms and benefits. Hence, you must check your credit score before applying. Applying with a low CIBIL score can cause the lender to reject your application.
2. Approval and Disbursal Time
The approval and disbursal time are critical as the time required for you to avail the funds depends on it.
Leading NBFCs can approve wedding loan in 5 minutes. These companies can disburse the funds to your loan account within 24 hours.
3. Rate of Interest
The rate of interest determines your cost of loan or the total amount that you have to repay. Hence, compare the lenders and check the interest rates carefully.
There are various charges associated with a personal loan for a wedding, like –
5. Part-Prepayment Process
Check the process of part-prepayment before you apply. Usually, part-prepayment is when you pay more than one month’s EMI. The payment goes towards your outstanding loan principal. Part-prepaying your loan can either lower your EMIs or reduce the tenor.
It is recommended to part-prepay your personal loan for wedding whenever you have the necessary funds to save on interest.
Keep these above points in mind before you apply for a wedding loan. Doing so can help you avail the loan faster.
As per a recent survey, India has ranked among the most prominent medical tourism destinations across the globe. In 2018, medical tourism in India was valued at Rs. 3.6 Billion approximately. It is expected to touch an all-time high of Rs. 9 Billion by the year 2022. This exponential growth is due to the availability of the best healthcare services for patients.
From studies, it has been evident that almost 59% of foreign tourists have opted for yoga, and approximately 11% of patient engagement has been in naturopathy treatment.
Factors impacting medical tourism
India's medical tourism industry is growing at a rapid pace of 31% every year. Here are some of the factors that are attracting medical tourists –
This high-end treatment facility has brought down the gap between patients and doctors in the country. Patients now can avail prompt services through telemedicine.
What medical tourism has in store for the future?
Medical tourism has a promising future in the country as it is turning India into a global medical treatment hotspot. So, if you are looking to invest, do not forget to look through a handy guide for doctors on medical tourism.
Among the most effective processes to cut on cost and reduce waste, lean manufacturing has helped increase efficiency as well as profit. However, companies involved in Lean manufacture of products face challenges too.
4 toughest challenges faced by Lean manufacturing companies
Hence, businesses operating with lean principles can implement programs to upskill their employees to build a successful manufacturing business.
The implementation of this process thus requires substantial investment. As most of the companies adopting lean manufacturing principles face funding challenges, optimisation becomes an issue.
It may again be a result of the workforce not being skilled enough to understand and implement the lean concept into the manufacturing or production line.
Hence, while up-skilling and installing efficient technology are the challenges in implementing these business ideas in India, companies can meet their funding requirements for such implementations by availing business loan from reputed lenders. Proper implementation of lean manufacturing principles is vital for business growth irrespective of their size.
An Emergency loan is the type of personal loan which will provide the cash to the candidate at emergency situations they are also known as short term loans. Most people generally need this loan to cover unexpected payments like a medical emergency. Here are a few things to keep in mind:
Emergency loan is a convenient personal loan that can be used to fulfill medical emergency expenses.
The process of applying and availing the loan is hassle-free and easy. Personal loans, in general, are easy to get based on lender’s criteria which includes a good credit score. If you meet the eligibility criteria of the lenders, the loan can be applied for and availed with ease.
Most personal loans for medical emergencies do not have any prespecified limitations on usage. With a personal loan for a medical emergency, you can use the amount for any medical expenses, including the needs you might have apart from the hospital bill.
The verification process for a Emergency loan is short and does not need you to submit any medical documents. Quick and easy verification takes nearly half the time compared to any traditional loans.
Medical emergency loans are sanctioned within one or two working days but the loan applicant needs to pay the debt back within a small time frame. Hence you must choose a lender that offers the loan at most competitive rates and with ease of repayment.
A Personal Loan is an unsecured loan that assists the aspirant to fund the personal and professional requirements. The loans are accessible at very affordable interest rates and flexible tenors. However, to avail this personal loan at a lower interest rate the loan applicants must have a stable source of income and a good credit score, qualifications. Most lenders do not offer a personal loan beyond 50% of the monthly income. In case you fall under a low-income bracket, a few lenders might still offer you a loan considering your future income potential and good credit scores. A few eligibility criteria through which lenders measure the personal loan eligibility these criteria include age, income, CIBIL score, Employment Stability, etc.
Requisite Documents to Apply For a Personal Loan
Must Read: How To Get Personal Loan With a Low Salary?
If you wish to look for a loan, it is best to understand the tools used for it and other factors that influence it. With the advent of technology and the use of the internet, an online personal loan has emerged as the best way to meet the short term financial needs. People definitely get confused due to a few myths. Before you get to avail such loan, understand them and disregard them. Here are some common myths that are common in India.
Applying for a loan can take a lot of time: Normal loan definitely takes a lot of time due to paperwork and processing. With the help of an online personal loan, application and documents can be submitted within a few minutes and get the loan approved within a few minutes. Bajaj Finserv approves the loan within 5 minutes as per an individual requirement.
A personal loan is unaffordable: This is an unsecured loan that is available at a high-interest rate. This is a myth as an individual with good credit score can avail low-interest rate loan and it can be negotiated to lower the EMI’s and interest rate.
Payment will attract penalties: Online personal loan definitely comes up with additional charges like part-prepayments, foreclosure, penalties, etc. A good lender definitely charges zero fees or penalties in different situations.
Loan application gets rejected in bad credit score: Now with an increasing number of lenders in the market, people easily get the loan approved even in a low credit score. These are some common myths that no longer misled people as an individual can get a loan to accomplish financial goals.
Must Read: 5 MYTHS ABOUT ONLINE PERSONAL LOAN
There are two approaches to applying for a personal loan. One is determining the loan amount by considering the purpose of the loan application, and two is by forecasting your EMI. There are several advantages of choosing the latter bottom-up approach, which is why every lender offers an EMI calculator for personal loan on their website. Some of the benefits are as follows:
1. Choose an appropriate loan amount and tenure
You have the advantage of choosing a flexible tenure and affordable loan amount once you calculate the EMI you can comfortable with.
2. Determine your debt-to-income ratio
You can determine the fraction of your monthly income that will go towards servicing all types of debts. You can create a new budget in tandem with the fresh loan if you know your ratio.
3. Plan and execute financial goals seamlessly
You can create and execute a financial goal effectively if you know how large your EMI is. For example, you may realize that you will have to decrease the cost of home renovations you were planning.
4. Be aware of the financial commitments every month
The EMI calculatore for Personal loan displays details (such as EMI and total interest payment) which will impact your budget in a fraction of seconds.
5. Aid in choosing the lender wisely
The calculator can help you compare the personal loan interest rates and EMIs provided by every lender and hence choose the best one.
Make sure to use the EMI calculator to the fullest to calculate the loan structure before applying for the personal loan.
Uncertainty in life often throws you in adverse situations for which you are not prepared. At such times, you may require immediate financial assistance to overcome the emergency. This is when an instant personal loan can help you out.
Personal loans are gaining popularity for quite a few reasons. These are unsecured advances which you can avail from financial institutions to meet your financial needs instantly. A personal loan is not backed by a collateral, further making them easier to avail.
Ways How an Instant Personal Loan Can Help You Meet Your Financial Needs
Unforeseen Medical Emergencies
Emergencies like these can be easily met via a quick personal loan. Healthcare expenses might be on the higher side and to cover up such huge expenses, utilising instant loans proves to be of great help.
Pay Off Outstanding Credit Card Debts
If you wish to settle an outstanding card bill, a personal loan can be beneficial. Credit card defaults attract higher interest rates in comparison to a personal loan. Thus, paying off a personal loan will prove to be profitable rather than delaying credit card repayments.
Clear all your existing debts using such unsecured advances and pay only the personal loan EMIs duly over the tenor at lower interest rates.
Home Renovation Projects
Borrowers can use a personal loan to complete their home renovation. If they do not have cash in hand, then an instant loan suffices their purpose.
Many individuals postpone their holidays owing to lack of sufficient funds. However, if you avail a personal loan for travel, you can easily book your flights and travel to your preferred destination without hassles.
So, if you wish to make the most of an instant personal loan, try opting for lenders who provide affordable interest rates and require minimal documentation and simple eligibility criteria to fulfill.
Car is not a luxury anymore and thus more and more people are planning to buy the same. In order to save money, people generally opt for pre-owned cars; however, if they don’t have enough money to purchase the same then they can simply turn towards the used car loan and purchase the pre-owned car with ease. There are several lenders who provide you with the facility of the second-hand car at reasonable interest rates. Let’s find out some details about used car loan and important ways to avail the same.
What is Used Car Loan?
A used car loan is nothing but unsecured funding for which you don’t have to submit any collateral. It is a kind of personal loan which is offered as per your creditworthiness and lender’s eligibility terms and conditions.
Eligibility Terms and Conditions For The Used Car Loan
Before applying for the used car loan, it is advised to go through the eligibility terms and conditions and check whether you are satisfying the same or not.
Important Documents To Be Submitted
In order to get the used car loan, you’ll just have to apply for the same and submit a few documents such as:
Jamaica, the name itself mesmerises you and spending a holiday in the Caribbean island is a sheer joy. Jamaica is famous for its gorgeous beaches, waterfalls and several other attractions. You will be highly relaxed and will also get lip smacking food will make you feel out of the world. All these will make your Jamaican holiday a memorable one.
If you are planning to visit this island country and are worried about the costs, then you should look for the travel loan offered by NBFCs. This will not only make your dream come true but also ease your financial stress and you can enjoy your holiday without compromising on the quality. Some of the places to visit in Jamaica are:
Now you know about the places to visit in Jamaica, you should also know that Norman Manley International airport, Kingston and Sangster International airport, Montego Bay are the major international airports that has direct flights with easy accessibility. You can hire coaches, taxis, car rentals, buses, etc. to travel around the country. When you are taking taxis, you should know about the fares in advance. Most of the hospitals, doctor’s offices, businesses post a dress code and it should be strictly adhered to else you will not be provided with the entrance.
Go for the travel loan today and enjoy your holiday in this lovely Caribbean island!
A personal loan is a lucrative financial tool that you can make use of when you need financial assistance urgently. Whether you are looking forward to ensuring effective savings or paying back a debt, buying something new for your home, funding a wedding, or any other such personal expenses, a lucrative personal loan scheme might help you out. When you wish to ensure the best for your personal loan application, it is recommended to know about the personal loan eligibility criteria at the same time. Nowadays, you can even apply for personal loan online for maximum convenience.
There are certain factors that affect your ease of approval of the personal loan application. You might receive a personal loan rejection or denial only if a certain point of eligibility criteria might not suffice. Therefore, it is recommended to go through the personal loan eligibility criteria in depth before applying for the same. Here are some additional tips:
Pradhan Mantri of India has come up with a helping hand to the residents of India to help them own their dream home. Pradhan Mantri Yojana is a scheme launched to offer subsidy over the interest charged on the home loan. For this, an individual has to meet certain eligibility criteria and need to apply for the home loan from the reliable bank or non-banking financial companies. Bajaj Finserv offers the best home loan and provides assurance on availing interest amount benefit under this scheme once you meet eligibility criteria.
This scheme provides an interest subsidy between 3% to 4% on the total loan for a home for the lower and middle-income segment people. Before you apply for this scheme, it is necessary to be clear on the process, different subsidies offered and other factors to avail it.
The Process to Avail Home Loan Interest Subsidy Under PMAY Scheme
Pradhan Mantri Yojana comes up with a simple application process. Once you have decided on a home to purchase, submit the documents like declaration form, Aadhaar card, PAN card, income proof along with the property document that you wish to purchase. It is best to check if the lender has an MoU with the NHB or HUDCO. Just download the application form available over the official website of Pradhan Mantri Awas Yojana website. Complete the form and submit at the relevant nearest office or can apply online.
Once the home loan is approved by the lender and disbursed, the lender will claim the subsidy from the NHB and that will be credited into your loan account.
Additional Read: What Essential Things to Know About PMAY?
Aman Khanna is an experienced financial advisor who is well known for his ability to foretell the market trends as well as for his financial astuteness. He has an MBA in finance from Toronto University as well as years of experience delivering seminars on sound financial practices and debt management.