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#taxaudit #incometax #itr

Conducting business and recording the business transaction as per the laws of the land is also a mandatory requirement.

We are conducting a survey to outreach the issues faced by the modern companies who have completed their first year of business or are near to completion of first year. We WynSwell Global Business Services (P) Limited is a DPIIT recognized startup by Ministry of Commerce and Industry, Govt of India. We provide business and Management consulting to new startup like yours. Help us in finding the issues which the modern startup is facing, so that we can work upon those issues jointly and overcome such issues for industry as a whole and make India a global network of successful startups. https://lnkd.in/dKYYYYey

CMA Data is a detailed report prepared by the borrower, typically with the assistance of financial experts or consultants, to present a holistic view of the company's financial position. The CMA encompasses various financial statements, including the balance sheet, profit and loss statement, cash flow statement, and other relevant financial data. Additionally, it may include projections, analysis, and explanations to provide context to the numbers presented. Importance of CMA Data in Securing Bank Loans: Assessment of Financial Health: Banks use CMA data to assess the financial health and stability of the borrowing company. By analyzing key financial ratios, trends, and performance indicators presented in the CMA, lenders can evaluate the company's ability to generate revenue, manage expenses, and service debt obligations. Risk Evaluation: CMA data allows banks to evaluate the credit risk associated with lending to the company. By scrutinizing factors such as leverage ratios, liquidity positions, and debt repayment capacity, lenders can gauge the risk of default and determine the appropriate terms and conditions for the loan. Loan Structuring: Based on the insights gleaned from the CMA data, banks can structure the loan terms to align with the borrower's financial capabilities and risk profile. This may include determining the loan amount, interest rate, repayment schedule, collateral requirements, and other covenants tailored to mitigate risk and ensure repayment. Decision Making: The CMA serves as a critical tool for banks in their decision-making process regarding loan approval. A thorough analysis of the CMA data enables lenders to make informed decisions about whether to approve the loan, the amount to lend, and the terms of the loan agreement. Transparency and Trust: By providing comprehensive financial information through the CMA, borrowers demonstrate transparency and build trust with lenders. A well-prepared CMA instills confidence in the borrower's ability to manage finances responsibly, fostering a positive relationship with the bank. Strategic Planning: Beyond loan approval, CMA data can also inform strategic planning and financial management decisions for the borrowing company. By identifying areas of strength and weakness, management can develop strategies to optimize performance, improve financial health, and achieve long-term sustainability. We provide #CMA data preparation services, you can contact us for more details. #wynswell #bankloan #loan #corporatefinance #finance #debt

Ex-Chennai Super Kings (CSK) captain MS Dhoni has now been featured in an advertisement for an electric cycle in which he can be seen singing the "Bole jo Koyal" song which was originally sung by Falhuni Pathak. An old video of MS Dhoni is also on the minds of fans where he can be seen dancing to the same song. In the ad, Dhoni can be seen cycling and singing songs side-by-side. The creators have even added the animated 'Koyal' (Cuckoo) bird inside the video Video source: EMotorad The video used here is just for news purposes as the page is associated with providing business and start-up news. #dhoni #mahi #startup #bolejokoyalbagome #emotorad #cricket #startup #startupindia #msdhoni #ipl

Wynswell Top 10 Female Personalities in 2024 list is here ✨ Read the complete list 👉 https://lnkd.in/d4dG7zdg

NRLM Scheme to empower the rural India. In the diverse tapestry of India, where rural communities form the bedrock of its cultural and economic landscape, initiatives like the National Rural Livelihood Mission (NRLM) serve as catalysts for change and progress. Launched in 2011 by the Ministry of Rural Development, NRLM aims to alleviate poverty and empower rural households by promoting sustainable livelihood opportunities and enhancing their social and economic status. Let's delve into the scope, finance, benefits, and interest surrounding this transformative mission. Scope: NRLM operates across the length and breadth of India, reaching out to millions of rural households, particularly focusing on women and marginalized communities. Its scope encompasses a wide array of activities including skill development, capacity building, financial inclusion, and enterprise promotion. By organizing rural poor into self-help groups (SHGs) and federating them into higher-level institutions, NRLM fosters collective action, social cohesion, and community empowerment. Finance: The financial backbone of NRLM rests on a multi-dimensional framework involving contributions from the central government, state governments, and external funding agencies. The central government provides financial support through budgetary allocations, while state governments complement it with their resources. Additionally, NRLM partners with international organizations and financial institutions to access funding for implementing its programs and initiatives effectively. Benefits: The benefits of NRLM extend far and wide, touching the lives of rural households in myriad ways: Economic Empowerment: NRLM facilitates access to credit, markets, and livelihood opportunities, enabling rural households to augment their income and improve their standard of living. Social Inclusion: By actively involving women, Scheduled Castes (SCs), Scheduled Tribes (STs), and other marginalized communities, NRLM promotes social equity, gender equality, and inclusivity. Skill Development: NRLM emphasizes skill enhancement and capacity building through training programs, workshops, and exposure visits, equipping rural youth and women with market-relevant skills. Entrepreneurship Promotion: Through entrepreneurship development initiatives and financial assistance, NRLM nurtures a culture of entrepreneurship among rural communities, fostering innovation and enterprise. Community Institutions: NRLM strengthens grassroots-level institutions such as SHGs and village organizations, empowering them to undertake collective action, advocate for their rights, and access government schemes and services effectively. #govtschemes #wynswell #startup

All you need to know about GSTR 10 (FINAL RETURN), after approval of cancellation of GST Registration. The GSTR-10, also known as the Final Return, is a critical component of the Goods and Services Tax (GST) system in India. It is filed by registered taxpayers who have decided to cancel their GST registration. Here's a breakdown of its relevance, the need for a CA certificate, and the late fee associated with it: Relevance: Closure of Business: GSTR-10 signifies the closure or cessation of business activities under the GST regime. It ensures that the government is informed about the discontinuation of operations and can update its records accordingly. Compliance: Filing GSTR-10 ensures compliance with the GST regulations, even when closing down a business. It's a legal requirement under the GST Act, 2017, and failing to file it can result in penalties and legal consequences. Input Tax Credit (ITC) Reversal: Taxpayers are required to reverse any remaining Input Tax Credit on their stock, capital goods, or inputs when filing GSTR-10. This return enables the proper adjustment of ITC before the closure of the business. CA Certificate: A Chartered Accountant (CA) certificate is required to be furnished along with the GSTR-10 return. This certificate verifies the correctness of the turnover, stock details, and the amount of tax payable as declared in the return. It adds an additional layer of assurance regarding the accuracy and completeness of the information provided in the return. The CA certificate helps in validating the financial information declared by the taxpayer and provides credibility to the closure process. It ensures that the closure of the business and the final return filed are in accordance with the GST laws and regulations. Late Fee: Late filing of GSTR-10 attracts a late fee. As per the GST law, if a taxpayer fails to furnish the GSTR-10 return by the due date, they are liable to pay a late fee of INR 100 per day during which the failure continues, without any capping of upper limit. It's essential for taxpayers to file the GSTR-10 within the stipulated time to avoid incurring late fees and penalties. Timely compliance not only avoids financial implications but also ensures smooth closure proceedings and maintains the taxpayer's compliance record with the tax authorities.

The Mudra Scheme was introduced with the primary objective of supporting micro-enterprises through the provision of loans up to Rs. 10 lakh. The term "Mudra" stands for Micro Units Development and Refinance Agency, symbolizing its focus on the development and financing of micro-enterprises. These enterprises encompass a wide array of activities, ranging from small manufacturing units to service-oriented ventures and trading businesses. The scheme operates through three primary categories or stages, each catering to different segments of entrepreneurs: Shishu (up to Rs. 50,000): This category targets budding entrepreneurs who require small seed capital to kickstart their ventures. Loans up to Rs. 50,000 are provided under this stage, aiding individuals in laying the foundation for their business ideas. Kishore (from Rs. 50,001 to Rs. 5 lakh): The Kishore category caters to enterprises that have progressed beyond the initial stages and require higher financial assistance for expansion and growth. Loans ranging from Rs. 50,001 to Rs. 5 lakh are extended to entrepreneurs falling under this bracket. Tarun (from Rs. 5,00,001 to Rs. 10 lakh): This category accommodates established enterprises seeking substantial funding to scale their operations. Loans ranging from Rs. 5,00,001 to Rs. 10 lakh are provided to entrepreneurs in this segment, facilitating further business expansion and development. Key Features and Benefits: The Mudra Scheme offers several distinctive features and benefits that have contributed to its widespread adoption and success: Collateral-free Loans: One of the most appealing aspects of the scheme is that it offers collateral-free loans, making it accessible to a broader spectrum of entrepreneurs, particularly those from marginalized or economically weaker sections of society. Interest Rates: The interest rates under the Mudra Scheme are typically competitive, enabling entrepreneurs to access funds at affordable rates and minimize the burden of debt servicing on their businesses. Flexible Repayment Options: The scheme provides flexible repayment terms, allowing borrowers to repay the loans over an extended period, thus easing the financial strain on their enterprises during the initial stages of business establishment. Promotion of Women Entrepreneurship: Recognizing the importance of women's participation in the entrepreneurial landscape, the Mudra Scheme actively promotes and supports women-led enterprises by offering special incentives and concessions. Boost to Employment Generation: By facilitating the growth of micro-enterprises, the Mudra Scheme plays a pivotal role in generating employment opportunities at the grassroots level, thereby contributing to socio-economic development and poverty alleviation. #wynswell #startup #govtschemes #funding #loans