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CKYCR (Central KYC Registry) is a centralized repository of KYC records of customers in the financial sector. CKYCR will replace the existing multiple KYC submission process while opening savings bank accounts, buying life insurance or investing in mutual fund products into one time centralized process. The Government of India has authorized the Central Registry of Securitization and Asset Reconstruction and Security interest of India (CERSAI) to manage this Central KYC Registry process. From 1st August, 2016 this new process will be applicable to all individuals. Salient Features of CKYCR - It Promotes inter-usability of the KYC records across the sector - It will reduce burden of getting KYC documents and verification of the same every time - It is a single form to create or modify CKYC - It includes the FATCA (Foreign Account Tax Compliance Act) declaration also. Hence, it avoids you to declare the same at the different level of your investments. -  T

SL No State Code State Name 1 01 Jammu & Kashmir 2 02 Himachal Pradesh 3 03 Punjab 4 04 Chandigarh 5 05 Uttarakhand 6 06 Haryana 7 07 Delhi 8 08 Rajasthan 9 09 Uttar Pradesh 10 10 Bihar 11 11 Sikkim 12 12 Arunachal Pradesh 13 13 Nagaland 14 14 Manipur 15 15 Mizoram 16 16 Tripura 17 17 Meghalaya 18 18 Assam 19 19 West Bengal 20 20 Jharkhand 21 21 Odisha 22 22 Chhatti

Goods and Service Tax (GST) has implemented now w.e.f. 01.7.2017 by the Government of India and State Governments. Under GST, Business entity has to register State wise/Union Territory wise provided that their turnover exceeds Rs 10 lacs in the case of North Eastern States and exceeds Rs 20 lacs in the case of all the other states (Other than Jammu and Kashmir). GSTIN (Gross and Service Tax Identification Number) is being issued to every Business Entity (Registered Tax Payers) for each GST registration. Goods and Service Tax Identification Number (GSTIN) is a 15 digit number with the following structure:  1. First 2 digits – State Code 2. Next 10 digits – PAN Number 3. Next 2 digits – Entity / Establishment code 4. Last 1 digit – Check digit

It has been announced that GST (Goods And Service Tax Will be Implemented from 1st July 2017. Under GST, there will be different rates for Goods and Services as 0%, 5%, 12%, 18% and 28%. GST is an indirect tax that will replace all earlier taxes like Central Excise Duty, Commercial Tax, Value Added Tax (VAT), Food Tax, Central Sales Tax (CST), Octroi, Entertainment Tax, Entry Tax, Purchase Tax, Luxury Tax, Advertisement tax etc. levied by central and state government. It will be levied on value addition only. Who Will Provide Platform A non profit organization "Goods and Services Tax" Network (GSTN) has been formed to create a platform for all the concerned parties i.e. stakeholders, government, taxpayers to collaborate on a single portal.  Share Holding of Central and State Government in GSTN Central Government - 24.5% of shares  State Government - 24.5%  Private Banking Firms - 51% of Shares Kind of GST There will be th

BHIM (Bharat Interface for Money) is an app launched by NPCI (National Payment Corporation of India), Govt Of India that let us make easy and quick payment transactions using UPI(Unified Payment Interface) . It is different from Wallets. It is diretly linked to our bank account and like Wallet there is no need to transfer amount in it before transaction. So, whatever the transaction we do, it directly affects our linked bank account i.e. all debit and credits done directly from Bank account. NPCI do not charge for transation through BHIM however particular bank may charge on using UPI feature. Mobile Banking registration and to make it enable is not required to use BHIM app, only requirement is to register mobile number with bank. Only one bank account can be linked with BHIM. Through this app, we can request also for money. Beautiful feature of this app is to scan the QR Code and make payment to merchants or indivuduals. We can send money through BHIM using IFSC and account num