The Covid-19 pandemic has shaken the world economy to its core, with business sectors of most countries bearing the brunt of this turmoil. It is a known fact that when compared to large companies, SMEs tend to find it more challenging to cope with a financial crisis, arising in the form of capital shortage. To…
Category: business
Why Is A Good Credit Score Important?
Credit score represents an individual’s or business’s creditworthiness. It is a measure of how efficient a borrower is, when it comes to handling debt. If your business tends to fall behind on loan repayments frequently, the company’s credit ratings are bound to suffer. Credit information companies or CICs, such as TransUnion CIBIL, keep track of…
GST-Based Bill Discounting: A Relief For MSMEs
The Indian MSME sector is in a constant struggle to acquire credit from financial institutions. Without a reliable source of finance, many small-scale businesses struggle to keep their operations afloat. The GST-based bill discounting system was implemented in India to ease such financial difficulties for the country’s micro, small, and medium enterprises. This can help…
MSME & Small Businesses – How Can They Scale-Up Business Online?
At a time when businesses with online presence are thriving, India’s MSME sector has failed to capitalise on this digital boom. The lack of progression has left these industries in a lurch. Insufficient capital is the biggest deterrent to digital transformation for such small-scale businesses. Micro, small and medium enterprises often face hurdles when it…
Top 5 Benefits Of Invoice Finance For Small Business Owners
Small business owners are often faced with a dearth of working capital, which can compromise their operations significantly. If you have faced such an issue in your enterprise, you would know how difficult it can become to ensure efficient supply chain management under this situation. Insufficient working capital also means that you cannot pay your…
How To Save On Income Tax In India?
Tax liability on annual earnings is a statutory levy; but, that doesn’t mean you cannot save on it! The Government of India allows taxpayers to avail several tax-saving benefits, such as exemptions and deductions, to make their tax burden more manageable. They can do so by directing their finances to a specific use or opting…
How Can Fintechs Bridge India’s Wide Invoice Financing Gap?
India’s fintech industry is expected to grow at a rapid pace in the upcoming years, with some predicting its value to cross Rs. 6,200 billion by 2025. Fintechs are often the preferred source of business finance for a plethora of reasons. If you have utilised fintechs when acquiring capital for your business, you would know…
Invoice Financing In India: TReDS And The Way Forward
India is home to several conglomerates and notable corporate entities. However, a mere look at current economic trends would show that it’s the MSME sector, leading this country’s economy from the frontlines. Financial experts believe, this sector, which currently comprises approximately 63 million units, will be instrumental in realising the vision of a $5 Trillion…
Is Filing Income Tax Return Mandatory?
Ever wondered why filing income tax returns is considered mandatory? To begin with, it is mostly because of the financial and legal repercussions that result from its non-filing. On top of it, missing out on the perks of tax savings is another reason why taxpayers are suggested to file it on time. Continue reading to…
Forgot To Verify ITR? You May Face Consequences.
Did you know that the income tax returns (ITR) filing process is not considered complete unless you verify it? Under normal circumstances, the Income Tax Department treats an ITR that has been filed but not verified as invalid. As a result, the consequence of not verifying income tax returns is the same as not filing…