In exercise of the powers conferred by the Micro, Small and Medium Enterprises Development Act, 2006, the Central Government, after obtaining the recommendations of the Advisory Committee in this behalf, hereby notifies certain criteria for classifying the enterprises as micro, small and medium enterprises and specifies the form and procedure for filing the memorandum (hereafter in this notification to be known as “Udyam Registration”), with effect from the 1st day of July, 2020 . . . BENEFITS ON GETTING REGISTERED AS UDYAM: 1.Udyam registration helps in getting government tenders 2.Due to the Udyam, the bank loans become cheaper as the interest rate is very low (Upto 1.5% lower than interest on regular loans 3.There are various tax rebates available for Udyam 4.Becomes easy to get licenses, approvals and registrations, irrespective of field of business as business registered under Udyam are given higher preference for government license and certification. 5.They get easy access to credit in lower interest rates 6.Registered Udyams gets tariff subsidies and tax and capital subsidies 7.Once registered the cost getting a patent done, or the cost of setting up the industry reduces as many rebates and concessions are available. #IncomeTaxUpdate #IncomeTaxReturn #ITR1 #CBDT #IncomeTaxEfiling #TaxReturn #IncomeTaxIndia#ledgerprofinance#incometaxindia#stockanalysis#nationalstockexchange#incometaxes#stockmarketquotes#taxpreparer#dailymarketupdate#sharemarketindia#futuresandoptions#gstr #udyamregistration #msme https://www.instagram.com/p/CCY8rSoDcCH/?igshid=x9lpr19qbvg7