Businesses supplying goods whose turnover cross the limit of Rs. 40 lakhs (Rs. 20 lakh for special category states) have to get registered under GST Act. While Businesses supplying services whose turnover cross the limit of Rs. 20 lakhs (Rs. 10 lakh for special category states) have to get registered under GST Act as Normal Tax Payer
One can get registration under composition scheme if turnover is not more then Rs. 1.5 Crore (Rs. 75 lakh for few states) & pay the fix rate of GST as per business type
Shop license/Gumasta is very basic certificate for starting a small business lawfully.
Businesses can register under MSME Act to get various Govt. subsidies & scheme under MSME Act.
Businesses engaged in manufacturing of food item/supply whose turnover is less than Rs. 12 Lakh per annum is required to get FSSAI registration.
Food Businesses whose turnover is more than Rs. 20 Crore per annum are required to get Central FSSAI
License(Retailer/Supplier/Distributors/Caterers/hotels 5 star and above/Restaurants/Marketers)
In case of wholesalers and transporters turnover more than 30 crore PA.
Food Businesses whose turnover is more than Rs. 12 Lakh less than Rs. 20 crore per annum are required to get State FSSAI license
TAN is Tax Deduction 10 digit alphanumeric number allotted to people who is required to deduct tax/collect tax at source by law.
Most common way to start your business by forming a Private Company.A company owned by limited members minimum 2 maximum 200 with no requirement of minimum paid-up capital is a Private Company.
A company with minimum 7 members no maximum limit whose shares are freely transferable within public & traded on exchanges. Public companies are generally which required large capital.
Partnership firm is a group of person who are agreed to run business together and share profit as mentioned in Partnership deep. Minimum 2 partners and maximum 20 Partners can form a Partnership firm.
LLP is entity where business is run by some partners whose liabilities are limited with minimum 2 partner no maximum limit.
Price is excluding of Govt Fee
A single person with idea of doing business with limited risk can incorporate as One Person Company. OPC don’t have more than one member.
Price is excluding of Govt. Fee.
A Company with intention of working as Non Profit Organization/No profit objective can be incorporated as Section 8 company. Its objective should be to promote arts, science, commerce, research, education, sports, social welfare, charity, religion or environment protection.
Price is excluding of Govt Fee
A type of Non-Banking financial company where group of people come together to invest their saving within that group. Company borrow money from members and lend to members.
Loan uses for business operation is a Business Loan, should meet the following eligibilities:
-The business shall be a proprietary firm, partnership firm, LLP or a Company
TYPE OF LOAN | BUSINESSMEN | PROFESSIONALS |
---|---|---|
Rate | 18% - 24% | 11% - 16% |
Unsecured Loan amount | 3 LAKH to 100 LAKH. | 3 LAKH to 100 LAKH. |
Processing Fee | 1% | 1% |
Stamp Duty | 0.5% | 0.5% |
Personal Loan is an unsecured Loan for salaried person/self-employed taxpayer should meet the following eligibility:
- Aged of 18 years or moreConditions for better Interest rate:
- A credit score that is average to excellent – ideally over 650A home loan is a secured loan that is obtained to purchase a property by offering it as collateral. Home loans offer high-value funding at economical interest rates and for long tenors. They are repaid through EMIs. After repayment, the property's title is transferred back to the borrower.
TYPE OF LOAN | NORMAL CASE | AFFORDABLE SEGMEMT |
---|---|---|
Rate | %6.9 - 8% | 9% - 12% |
Tenure | 5 TO 30 years. | 5 TO 30 years. |
Processing Fee | 0.25 - 1% | 0.25 - 1% |
Stamp Duty | 0.5% | 0.5% |
Credit Score | +600 | +600 |
Loan against property is secured loan mortgaging residential, commercial, industrial properties or plots. For eligibility one should owned any property residential/commercial/industrial/plots.
TYPE OF LOAN | RESIDENTIAL PROPERTY | COMMERCIAL PROPERTY | INDUSTRIAL PROPERTY | PLOTS |
---|---|---|---|---|
Rate | From 9% | From 9.1% | From 9.5% | From 10% |
Tenure | 5 TO 15 years. | 5 TO 15 years. | 5 TO 15 years. | 5 TO 15 years. |
Processing Fee | Upto 1% | Upto 1% | Upto 1% | Upto 1% |
Stamp Duty | 0.5% | 0.5% | 0.5% | 0.5% |
MSME loan is financial support for startups and businesses to grow their business. Micros Small and Medium Enterprises loans help to meet working capital ...
MakVik Financial Services is a smart finance firm in Indore which provide services like Taxation (Income Tax Return, GST Return), Loans (Personal Loan, Business Loan, Mortgage Loan, Home Loan etc), Insurance (Life Insurance, Term Insurance, Health Insurance, Motor Insurance, ULIP etc), Mutual Funds, Money Investments and many more. It was Founded By Mayank Chaurasia in 2022.
MakVik Financial Services is smart finance firm across the India headed from Indore City. Deals in resolving complex & critical hurdles in businesses. We have innovative team to support your business at every phase of road breaker in day to day business operations, Govt. compliances & funding.
We specially deal with startups to provide most suitable & creative solution. We are proud to serve as a trusted adviser to clients that span a wide range of industries and sizes.
Startups require businesses and their leaders to address a different set of priorities and hone new skills. MakVik Financial services has the professional team for your every need and provide professional assistance. We are a team of consultants driven to create efficiency for our clients. Our consultants advise on business processes, provide business consulting and establishing
All our services are geared toward solving your unique business challenges. If you have a business process problem, instead of picking a package off a list, you can also tell us exactly what you need and we will deliver the most suitable solution to achieve greater efficiency. MakVik Financial services has the professional team for your every need and provide professional assistance.
We specially deal with startups to provide most suitable & creative solution to assist in establishing, processing & managing the business with professional team.