Eligible Business Under Needs Scheme

The objective of the scheme is to encourage unemployed person to take up self employment ventures through industry service and business by providing soft loans to meet part of the margin money to avail institutional finance.

Eligible business under needs scheme. Will not be eligible for assistance. Any business which has a turnover of less than rs. 1 50 crores in case of goods and restaurant services and rs.

New entrepreneur cum enterprise development scheme needs. Iti vocational training from a recognized institution and in the age group of 21 35 years under general category and 21 45 years under special. An eligible entity can only nominate one business participant who is not an employee for whom to receive jobkeeper payments.

Under the schemes eligible businesses will receive a grant of 10 000. If your business is in england scotland or wales you should apply to your local authority for the grant. This grant doesn t need to be repaid and you can claim the grant and continue to do business.

Smes including sole traders and not for profits with a turnover of up to 50 million are able to apply for loans under the scheme. These requirements vary from lender to lender but are likely to include. Eligible taxpayer and eligible business for the purpose of the presumptive taxation scheme of section 44ae.

You will need to provide certain documents when you apply for a cbils backed facility. Apart from few exceptions all registered taxable persons whose aggregate annual turnover is up to rs. Under the scheme you can claim a grant of 10 000.

One crore or 75 lakhs for the specified states can opt for this scheme but on any given day if turnover crosses the above mentioned limit then he becomes ineligible and has to take registration under the regular scheme. Of india or state govt. How the scheme works.