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Up to when we can expect the new Income tax forms for FY 2019-20.
Date Posted 26-Apr-2020
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Is their any clarification regarding extension in due date of June 2020?
Date Posted 26-Apr-2020
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Plz clarify weather due date of all the ROC forms from Aptil 20 has been extended till September 2020?
Date Posted 26-Apr-2020
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The system will automatically generate the IEC certificate once you submit your application based on your Jurisdictional Authority and it will automatically dispatch the IEC letter on your registered e-mail id. However, at the time of next modification the e-IEC system will continue to display Print/View your IEC details along with Modify e-IEC.
Date Posted 02-Feb-2020
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No, the certificate received on mail is sufficient. There is no need to get it signed and stamped from DGFT office.
Date Posted 02-Feb-2020
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Yes, if your application is rejected then you will need to pay Rs. 500/- fees again along with new application.
Date Posted 02-Feb-2020
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Enter your PAN and press Search Button. Then system will prompt for the following:
((a) Name of Business –As mentioned on PAN (like Proprietor / Partnership firm or Company)
(b) Date of Birth/Incorporation (DOB in case of Proprietary firm and date of incorporation/ formation in case of Partnership / Company etc.)
(c) File Number
(d) File Date
After entering above given details at (a) and (b) the system will verify Name, DOB/Date of Incorporation etc. from CBDT PAN Web Server and File No and File Date will be verified from the DGFT-IEC application then only the system will dispatch OTP (one time password) on your registered mobile and e-mail id. Enter any one of the OTP either of e-mail/mobile and then press Submit Button. DGFT- Online IEC application system here will automatically display the two options of View/Print rejection letter along with “Apply again where earlier application was rejected”.
Date Posted 02-Feb-2020
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Relax…. This is not a printing mistake. Now a days DGFT has changed 10 digit numeric IEC with PAN itself, means now in your IEC certificate your PAN shall be printed as your IEC. But Mind it that it doesn’t mean that your PAN will automatically become your IEC. For using your PAN as your IEC you need to first apply for IEC at DGFT site and when you get IEC certificate on your mail only after that your PAN can be used as your IEC.
Date Posted 02-Feb-2020
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After entering PAN details in IEC login page, OTP's are sent to registered email and mobile number, enter any one of the two OTP's to login and change the e-mail and mobile number already registered. However if you lose access to both email and mobile number, an affidavit signed by authorised signatory needs to be submitted so that login of the account remains secured. Affidavit should contain request for change, reason for change, details of old and new email & mobile and sent to dgftedi@nic.in
Date Posted 02-Feb-2020
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You must ensure the Application should be complete with all the details. Application fee of Rs 500/- in case of fresh IEC and for IEC modification Rs 200/- is mandatory.
Date Posted 02-Feb-2020
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In case of fresh IEC application you have to attach the following two documents
1. Address Proof – Rent Agreement / Sale Deed / Lease Deed / electricity Bill /Telephone Landline Bill / Mobile Post-paid Bill / MOU / Partnership Deed -
any one
2. Pre-printed Cancel Cheque / Bank Certificate
. In case of modification of IEC the attachment of document will continue as per existing provisions. (Please Note: Attachment of PAN and photograph is not required in case of fresh /modification of IEC application)
Date Posted 02-Feb-2020
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Enter your PAN and press search button. Then DGFT-IEC system will display:
(a) Name of Business –As mentioned on PAN (like Proprietor / Partnership firm or Company)
(b) Date of Birth/Incorporation (DOB in case of Proprietary firm and date of incorporation/ formation in case of Partnership / Company etc.)
After entering above given details at (a) and (b) the system will verify Name, DOB/Date of Incorporation etc. from CBDT PAN Web Server and then it will direct you to DGFT- Online IEC application enabling you to migrate your existing IEC to e-IEC.
Date Posted 02-Feb-2020
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In case you have generated the IEC letter from the e-IEC system and now you want to modify your IEC. Enter PAN and press Search Button. Then system will prompt for the following:
(a) Name of Business –As mentioned on PAN (like Proprietor / Partnership firm or Company)
(b) Date of Birth/Incorporation (DOB in case of Proprietary firm and date of incorporation/ formation in case of Partnership / Company etc.)
(c) File Number
(d) File Date
After entering above given details at (a) and (b) the system will verify Name, DOB/Date of Incorporation etc. from CBDT PAN Web Server and File No and File Date will be validated from the DGFT-IEC application then only the system will dispatch OTP (one time password) on your registered mobile and e-mail id. Enter any one of the OTP either of e-mail/mobile and then press Submit Button to proceed. (Please Note You have to enter the current File No along with File Date)
Date Posted 02-Feb-2020
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On the DGFT website https://dgft.gov.in/ under Quick links select services tab and Apply for New IEC/Modify existing IEC. Enter PAN and press Search Button. Then system will prompt for the following:
(a) Name of Business –As mentioned on PAN (like Proprietor / Partnership firm or Company)
(b) Date of Birth/Incorporation (DOB in case of Proprietary firm and date of incorporation/ formation in case of Partnership / Company etc.)
After entering above given details at (a) and (b) the system will verify Name, DOB/Date of Incorporation etc. from the CBDT PAN Web Server and then it will direct to DGFT- IEC application enabling you to file for fresh IEC application.
Date Posted 02-Feb-2020
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(i) PAN no.
(ii) Mobile No. and Mail id
(iii) Scanned copy of following documents to be uploaded.
a) Address Proof – Rent Agreement / Sale Deed / Lease Deed / electricity Bill /Telephone Landline Bill / Mobile Post-paid Bill / MOU / Partnership Deed -
any one
b) Pre-printed Cancel Cheque / Bank Certificate
Date Posted 02-Feb-2020
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Following are the major banks & financial institutions providing home loans: -
1. HDFC Housing Finance
2. PNB Housing Finance
3. SBI Bank
4. LIC Housing
5. Canara Bank
6. Central Bank of India
7. PNB Bank
8. ICICI Bank
9. DHFL
10. Bank of Baroda
Date Posted 26-Jan-2020
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For home loans if the loan is taken on variable rate or adjustable rate / floating rate of interest, in case of individual, most of the banks or institutions do not charge any prepayment charges. They can make the prepayments as many times as they have funds. But in case it is in the name of a company, firm, sole proprietor firm or business or any of these are co-applicant along with the individual, then there are certain prepayment charges applicable which vary from bank to bank.
In case where rate of interest on home loan is fixed, there are certain prepayment charges applicable to all including individual, the rate & terms of prepayment vary from bank to bank.
Date Posted 26-Jan-2020
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In case of Home Loan, eligibility is calculated on the basis of monthly cash flow generated by surplus income over expenses. Following is the example of general formula to calculate the eligibility for Home Loan: -
A. Total Average Monthly Income for 2 Years =100000
B. Less:- Average monthly expenses based on last 1 year= 40000
C. Surplus available (A-B) =60000
D. 50% of monthly Surplus =30000
So the borrower can afford to pay an average EMI(Equated monthly instalment) of Rs. 30000 to repay the loan.
Now bank again calculates based on no of years & prevailing interest rates that how much is the principal that can be equated with this EMI with 10 years,15 years or 20 years.
Definitely for longer periods the eligibility amount will be higher than shorter periods.
Also, age factor is also important while choosing the tenure for housing loan, as bank considers earning periods till certain age only.
Date Posted 26-Jan-2020
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It’s not necessary for the borrower to get the disbursement of home loan sanctioned fully. Sanctioned amount is just an eligible amount but we get actual disbursement of the amount which we are short to pay after our own contribution. But in case home loan disbursement cannot be more than the sanctioned amount.
Date Posted 26-Jan-2020
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Home Loan Sanctioning is a process in which bank initially judge our eligibility based on our income proof and securities value. Then bank issues a sanction letter which contains eligible loan amount, rate of interest, period of loan and other terms & conditions related to loan. Sanction Letter is valid for the period mentioned in it, generally it is valid for 3 or 6 months depending on bank to bank.
Home Loan Disbursement is a process in which bank actually disburse the loan amount to the borrower. Disbursement is done after sanction when borrower applies to the bank for payment to seller along with supporting document of purchase of property. Generally, in case of home loan borrowed, the amount is directly paid to the account of seller. Bank makes disbursement of Home Loan only after technical verification of all legal documents & deeds of purchase or payments.
Date Posted 26-Jan-2020
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When we have cleared some outstanding of our already issued Home Loan, bank if our eligibility permits after assessment process can top up some additional amount to meet any fund requirements for the renovation, furnishings etc.
Date Posted 26-Jan-2020
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Yes, Home Loan can be taken in the joint name, even if one of them is not the owner of new house. Generally, this happen in either blood relation or with spouse. For Example, person can be a joint applicant to Home Loan with his parents, spouse, siblings etc.
Date Posted 26-Jan-2020
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Following are the different categories of home loans are offered by various lenders: -
1. Home Loan for Construction Cost of a Residential Property: -
In this version, Home Loans are granted to meet the cost of construction for a newly house to be constructed. Here the cost of construction includes all the civil material, fixed and immovable components but does not include movable furniture & furnishings.
2. Home Loan for Purchase of a new house
In this version, Home Loan is granted to purchase a new house property / bungalows / apartment. The cost for financing is taken as cost as per sale deed or stamp value whichever is low.
3. Home Loan for Purchase of a Plot
In this version, Home Loan is granted to meet the cost of plot acquired for the purpose of construction of a house property. Here the cost for financing is taken as cost as per sale deed or cost as per stamp value whichever is low.
4. Home Loan for Improvements or Additional Construction
In this version, Home Loan is granted to meet the cost of any capital improvements or renovations in the existing house or additional construction like building an additional floor in same house property.
Date Posted 26-Jan-2020
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Following are the different categories of home loans are offered by various lenders: -
1. Home Loan for Construction Cost of a Residential Property: -
In this version, Home Loans are granted to meet the cost of construction for a newly house to be constructed. Here the cost of construction includes all the civil material, fixed and immovable components but does not include movable furniture & furnishings.
2. Home Loan for Purchase of a new house
In this version, Home Loan is granted to purchase a new house property / bungalows / apartment. The cost for financing is taken as cost as per sale deed or stamp value whichever is low.
3. Home Loan for Purchase of a Plot
In this version, Home Loan is granted to meet the cost of plot acquired for the purpose of construction of a house property. Here the cost for financing is taken as cost as per sale deed or cost as per stamp value whichever is low.
4. Home Loan for Improvements or Additional Construction
In this version, Home Loan is granted to meet the cost of any capital improvements or renovations in the existing house or additional construction like building an additional floor in same house property.
Date Posted 26-Jan-2020
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