Blog For Company Formation in India

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Companies Fresh Start Scheme, 2020

Government of India has been making tremendous efforts in clearing backlogs/disputes/appeals under direct and indirect taxes which has resulted in the launched settlement schemes under Direct Tax (Vivaad Se Vishwas Scheme) & Indirect tax (Sabka Vishwas Scheme). On the similar lines, MCA i.e Ministry has come up with the scheme called Companies Fresh Start Scheme 2020 (also called CFSS -2020) vide its General Circular No. 12/2020 for one-time application of condonation of delay of filing the various forms, documents and returns.

Minimum Alternate Tax (MAT)

What is MAT?

MAT is an indirect tax levied under the Income Tax Act of India, 1961. As per section 115JB, every foreign and domestic company is required to pay MAT, a rule set up to prevent highly profitable businesses from dodging their tax liabilities.

A large number of companies in India try to evade taxes. For instance, many “zero tax companies” generate substantial revenues but end up paying a nil tax by applying deductions, exemptions and other kinds of loopholes in the system. So, MAT was created so that no company is able to completely evade their tax liability.

Personal Finance Tips for the Long-Term

While total financial independence isn’t a simple goal to succeed in , most of the people wish to a minimum of to spend their lives without struggling for creating their ends meet. Financial planning could assist you in meeting your long-term goal, however, you would like to place the plan into effective action.

Choosing the Right Type of Company for Your Business in India

One of the primary decisions that need to be taken when starting a corporation in India refers to the legal entity under which the respective business will operate the local market. India provides a group of business forms, almost like those available in other jurisdictions. the choice regarding the legal structure of an Indian company should be taken in accordance with the capital the investors have, the obligations and liabilities they need to assume or the dimensions of the business they need to work here.

Company registration consultant

Company registration consultant should be selected very carefully once you are registering a corporation . Transparent pricing, thorough knowledge of Companies Act 2013, in-house company secretary team and knowledge within the field should be checked when selecting a consultant for company registration. Business setup is that the top consultant for company registration in Mumbai, Bangalore, Pune and Hyderabad.

Branch Office in India

What activities can a branch office perform in India?

The branch office are often opened by any foreign company. The activities it can undertake are mentioned below:

1 Export/Import of products
2 Rendering consultancy services
3 Carrying out research work, during which the foreign parent company is engaged.

How To Change A Company Name?

Changing the name of a corporation cannot continue without complying with the wants of selecting a corporation name set by the Registrar of Companies.

Changing a corporation Name

Getting a corporation ’s name changed by the Registrar of Companies (RoC) is not any small matter! Executing a company name search will assist you select an appropriate name. an equivalent rules and laws apply to vary a person’s name, as well. The procedure to vary the corporate name is well-defined and is to be followed strictly. Hence, it's essential to follow all the wants of the registrar of companies in India.

Difference between Bookkeeping and Accounting?

When most small business owners consider the terms bookkeeping and accounting, they often use them interchangeably. While it’s true both bookkeeping and accounting are important within the management of your company’s finances, some key differences between the 2 functions do exist. Therefore, business owners got to understand the roles of every and the way they work together to make sure your company’s success.

Benefits of Filing Income Tax Return (ITR)

Income Tax Return is a document an individual is required to file with the Income Tax Department on a yearly basis. However, it is not mandatory for everyone to file the Return. If your income in the previous year is above the basic exemption limit of INR 2,50,000 (Rupees Two Lakh Fifty Thousand only), then you are required to file the Income Tax Return compulsorily.

Even though it is not mandatory for some persons to file the Income Tax Return, one should file it every year as there are many benefits of filing it.

How to sell on online portals?

Step 1

Register your business

There ar three choices to try and do a similar. Please choose the most effective possibility supported the variations listed below.

Private Ltd.
Entrepreneurs reaching to raise funds for angles or VC’s
Read more

What is company incorporation

Incorporation of a corporation refers to the legal method by that a company entity or a corporation is born or comes into existence. a company company is separated from the legal entity on its own.

But These firms are often known with terms like Iraqi National Congress or restricted or personal restricted in their names and, it had become a company legal entity, that has utterly separated from its house owners.

Why should you incorporate a Private Limited Company?

A private limited cômpany is a môst flexible and credible structures ôf businesses. It is a type ôf structure wherein investôrs can be separate and the peôple managing the cômpany that is directôrs can be different. It can have cômbinatiôn ôf variôus instruments like preference shares, equity shares ôr debentures.

Separate Identity

A private limited cômpany has a separate identity and is different frôm its directôrs.

Learn all about DIR- 3 KYC

Starting your own business may be a long cherished dream and changing into a Director is that the most honourable position. As you all apprehend that to begin a corporation in Republic of India it's vital to urge the corporate registration through with the Registrar of firms and wish to follow the rules arranged down by the Ministry of company Affairs.

To Start a Public Limited Company?

The Promoters of a company may be individual entrepreneurs or body corporate engaged in efforts to incorporate a company. It is depending upon, the purposes for which the company is to be incorporated, proposed scale of operations, capital involved, etc. The promoters can select the type of the company as they wish to form themselves into a viz. private company, a public company, a non-profit making company, etc.

how To start a public limited company?

WHAT IS VAT?

VAT stands for Value Added Tax. This tax is charged by the Central Government on the sale of goods and services when they are ultimately sold to the final consumers. VAT is charged and paid by the producers of the goods and services but it is finally levied on consumers who purchase the goods and services when they pay for them.

WHAT IS VAT REGISTRATION?

Electric Vehicles Market In India

The government of Bharat in its latest budget extended many new announcements to spice up the retardation automobile economy, as well as a bunch of reforms for remodeling the electronic vehicles market. during this post, we tend to highlight the nuances of the booming electrical vehicle trade and conjointly forecast prospects of investment during this forthcoming section.

Why is Bharat the correct marketplace for electrical Vehicle development?

Casual Taxable Person Under GST

For Casual nonexempt Persons, it troublesome to stay up a set spot of business or document month to month GST returns systematically, as a result of their business would be regular in nature with no fastened spot of business. Extraordinary arrangements are given beneath the GST Act to the registration of casual nonexempt persons.

Registration Obligation for Casual Taxpayers

Union Budget 2019-20

Budget Highlights

Expenditure: the govt. proposes to pay Rs twenty seven,86,349 large integer in 2019-20, that is thirteen.4% higher than the revised estimate of 2018-19.
Receipts: The receipts (other than web borrowings) ar expected to extend by fourteen.2% to Rs twenty,82,589 crore, because of higher calculable revenue from corporation tax and dividends.

Establishing a unit in SEZ in India

India is among the foremost Asian countries United Nations agency have thought-about the concept of putting in place AN Export process Zone (EPZ) model to push country’s exports. to draw in additional foreign investment and supply AN internationally competitive and trouble free surroundings for export promotion in Asian nation, Special Economic Zone (SEZ) was introduced. within the year 2000, with AN beginning of SEZ policy, Asian nation had begun to run on the trail of success.

Initially, the SEZ policy was enclosed beneath foreign foreign policy 2000. The policy was enforced through piecemeal and circumstantial amendments to totally different laws, besides government orders. so as to beat these drawbacks and to allow a stable long run policy framework with minimum regulation, the Special Economic Zone Act, 2005 was introduced. The Act provided broad legal framework, covering all vital legal and restrictive aspects of SEZ development further as for units in operation in SEZs.

Reasions to File Your Income Tax Returns?

What If You Do Not File Your Income Tax Returns?

Income Tax come could be a prescribed format through that an individual has got to disclose the financial gain that's attained by an individual in an exceedingly year. The taxes on this financial gain have to be compelled to be paid to the revenue enhancement Department by the tip of the year. There square measure totally {different|completely different} slabs of taxes for folks from different financial gain slabs. There additionally exists a minimum block, on top of that it's necessary to file revenue enhancement returns. The revenue enhancement Department typically keeps causing reminders to persons to file their revenue enhancement returns. though folks will file their revenue enhancement returns at a later date, there square measure sure consequences connected to constant. This come that is filed on a later date is thought as a tardy come. Such a come is allowable to be filed beneath Section 139(4) of the revenue enhancement Act.

How to Check TDS (Tax Deducted at Source) online?

Mistakes that a start-up should avoid

A booming out-pour of Startups in Bharat is that the recent trendsetter. Recently, we've witnessed several low and status Start-Ups landing up within the Court of law fighting legal battles and sabotaging their name in public. so as to avoid such mistakes, here square measure “8 fast tips” that a Start-Up should do to avoid such ugly legal battles.

START-UP IDEAS TO BUILD A NEW INDIA

India has been recognized as one of the top start-up hubs in the world. Especially under the leadership of Narendra Modi there are several initiatives taken from the year 2016 to revolutionize the start-up businesses.

Start-up India Initiative is one such program taken by Prime Minister Narendra Modi which has benefited entrepreneurs across the country. This initiative was mainly take to support the economic growth and create better and more number of employment opportunities.

Tips for Tax Saving Investment

Tax saving is that the strategy by that one saves taxes by victimization the provisions given underneath law. At the time of filing your come, you'll be able to seamlessly claim these exemptions and deductions from the tax department. Such provisions square measure provided by the govt to incentivize savings and investments within the economy. the method of tax saving is totally legal and inspired by the govt. it's a obligatory contribution to state revenue levied by the govt on staff financial gain and business profits or else to the value of some merchandise, services and dealings. Taxes paid by public square measure employed by the govt for closing numerous welfare schemes as well as employment programs. underneath section eighty of tax Act, 1961 (“Act”) there square measure numerous deductions a remunerator will claim from his total financial gain which might bring down his dutiable financial gain and thereby cut back his tax outgo.

How to Check TDS (Tax Deducted at Source) online?

Introduction

Income is one such aspect of recent day life that can't be unnoticed or brushed off. It finds how to influence the answer of one’s day to day challenges from an easy issue on if one ought to walk the additional mile or take the bus? or a lot of larger things on if a corporation ought to invest crores of rupees during a specific sector or not? It influences the lives of all people from poor laborer to wealthy man of affairs and because of such influence that financial gain yields during a country like Republic of India folks square measure usually interested in what cash they pay as taxes and the way a lot of they're stepping into the shape of returns as being compliant with revenue enhancement rules and laws here are available the thought of TDS and TDS returns. allow us to currently verify what one means that by TDS and TDS returns and what's the procedure to envision the standing of such returns online

FDI amendments in India

The Union cupboard Ministry crystal rectifier by the Prime Minister Narendra Modi gave its endorsement to varied amendments to the FDI Policy in an exceedingly Press note of last year. Foreign Direct Investment (FDI) could be a noteworthy driver of {monetary|of economic} development and a wellspring of non-debit finance for the monetary improvement of the state.

According to the press note that was discharged last December, the subsequent FDI amendments were created throughout the cupboard meeting:

India Interim Budget 2019

The Interim Budget, 2019, presented by the Union Finance Minister, Mr. Piyush Goyal, is a progressive budget for small taxpayers and real-estate sector. The proposals made in the interim budget would provide immediate relief to small taxpayers and incentivize the salaried taxpayers, who have continuously been hailed as the most honest taxpayer The incentives proposed for the taxpayers would be beneficial both for revenue and taxpayer.outgoes and the revenue would get the opportunity to reduce its administrative cost. Low-income groups and senior citizens generally

2019 Promises To Be The Year Of MSME Start-Ups?

Over the most recent two years, that spoke to difficulties looked by businesses subsequent to demonetisation and prologue to GST, the year 2019 is probably going to be an favourable year for smaller scale, little and medium dimension ventures (MSME). While money crunch portrayed the year 2017, absence of access to credit, fall in the estimation of rupee and expanded consistence costs from changing over to the routine to GST added to the agonies of the little scale businesses.

Start a regulated and recognised business in India

To register business name in India, one must have to visit the official website of Ministry of Corporate Affairs (MCA) and have to apply for new business registration. MCA as sole business invigilator deals with complete administration of all businesses running under Companies Act, LLP act and various other allied acts. It is also responsible for regulating running business enterprises and helping new business ideas to get incorporated with no delay in grounded documentation.

Transfer pricing in India

Introduction

Transfer Pricing (“TP”) regulations have been at the forefront of corporate headlines over the last few years due to the increasing number of controversies resulting out of tax structuring by multinational companies in India. What makes the topic both contentious and interesting is that regulators view the various techniques applied to inter-corporate transactions as purportedly planned with the intent of achieving benefits of comparable labor cost and tax advantage at the cost of a countries tax revenues.

Advantages of a private limited company?

Introduction
Private Limited Company can be formed with a minimum of two members; this number can be extended up to two hundred members. A minimum of two directors is needed which can go up to fifteen. This form of business shares many similar traits with partnership firm. A total of two hundred shareholders is acceptable in a private limited company. A properly formulated registration procedure has been mentioned in companies Act. You may ask that why you should opt for Private Limited Company when there is LLP and One Person Company. There are some advantages of Private Limited Company below:

Registering a wholly owned subsidiary company in India

MNC's who choose to operate in more than single country can operate its business through a wholly owned subsidiary. Wholly owned subsidiaries can be called as those companies in which Parent Company owns all the shares of the subsidiary which gives access to the parent company to select a board of directors of the subsidiary or control the subsidiary.Wholly owned subsidiaries can also be a part of a different industry.

Online Taxation & VAT registration

After having registered their business to sell their products online or offline the next big step is how to register for VAT so you can then charge your customers. VAT registration is required when you are in business of any goods or products that can be felt or touched and exceeds specified amount of annual turnover

Why its Important to outsource Finance and Accounting Services?

Accounting outsourcing is about a contract signed by an organization with third party consultant to outsource partially or fully their accounting services. Finance and accounting outsourcing activities are trending in various organizations, as outsourcing accounting and book keeping services helps to work on main functions of business and to work more efficiently with the business core area and improve decision making and other tactics. It can bring considerable increase in company’s level of productivity and efficiency.

FDI is a source of Indian Economic Growth

India is turning into an open-market economy. India has been attraction for overseas investers, after the United States, China and Britain.

The Indian economy has continuously recorded high growth rates and become an attractive destination for investment. In India to attract investors there are stable economic policies, availability of cheap and quality human resources, and new unexplored markets. The government initiatives like-

A Comprehensive Guide for Incorporation of One Person Company

Here is step-by-step guide for starting your company individually — the understanding of an OPC, the benefits of incorporating it and the legal formalities in its formation.

As per the Companies Act,1956, a Public Ltd Company requires at least 7 members or shareholders wherein a Pvt Ltd Co requires to have at least 2 members. Hence, a One Person Company was never allowed to be formed in our country earlier. However, under the provisions of the Companies Act 2013, Sec 2(62), One Person Company (OPC) is being allowed to form.

Reverse Charge Mechanism Under GST

Reverse charge is a mechanism under which the recipient of the goods or services is liable to pay the tax instead of the provider of the goods and services. Under the normal taxation regime, supplier collects the tax from the buyer and deposits the same after adjusting the output tax liability with the input tax credit available. But under reverse charge mechanism, liability to pay tax shifts from supplier to recipient.

Points to remember for filing GST Returns

First, the very basic: All registered business owners come under the GST regime, and must furnish details about their sales and purchases on the GST portal. In other words, the process is online. And yes, this also holds true for businesses that had zero operations the previous month, the only difference being that they need to file a “NIL return”, just as it was under the earlier VAT and service tax laws.

Corporate Tax Filing & Returns

More than only standard accounting and tax filling services, We helps in corporate tax filings and annual returns for the companies. We work closely with all our clients as we firmly believe that clear understanding of their business goal is crucial to impart the best online payroll services.

GST anti-profiteering body set up

The government has set up the National Anti-Profiteering Authority amid reports that some companies, particularly restaurants, are not passing on the benefit of the goods and services tax (GST) rate cuts to consumers. B N Sharma, additional secretary in the department of revenue, was on Tuesday appointed chairman of the authority.
Now, guidelines on what exactly constitutes profiteering are awaited. The authority will exist for a period of two years from the date Sharma takes charge.

08 Dec, 2017

Lates Changes In GST 23rd Council Meeting

In the 23rd GST Council Meeting, GST rate reduction for various goods and services was announced. A major highlight of the 23rd GST Council Meeting was the reduction of GST rates for various goods listed under the 28% slab. The GST rates changes will tremendously reduce the tax burden on the common man and boost the economy. In this article, we look at a summary of GST rate changes announced in the 23rd GST Council Meeting held on 10th November 2017.

09 Nov, 2017

GST Council to trim list of items in 28% tax slab

The GST Council is set to trim the list of items in the highest tax slab of 28% by shifting some items of common use as well as products made predominantly by small and medium enterprises (SMEs) to a lower tax slab.The tax rate fitment committee, a panel of central and state officials assisting the GST Council, is rigorously combing through the list of items in the highest slab to identify such items, two people with knowledge of the development said on condition of anonymity.The GST Council wants to address the public perception of high tax rates on certain items of common use as well as give further relief to SMEs, which are labour-intensive.

24 Oct, 2017

Government Notifies Rules For Registered Valuers.

If you're a service supplier with operations in just one state, GST goes to be wonderful as a result of while not an excessive amount of of compliance burden, you tend to induce additional input-tax credits. But, if you're a service supplier in additional than one state, and that i believe, the bulk would have operations in multiple states; therein case it might be vastly completely different below GST.

10 Oct, 2017

GST: When Does a Service Provider Need to Register Across Multiple States?

Individuals, partnership entities as well as companies can act as valuers under the Companies Act after getting registered with an authority specified by the government, says a notification.

26 Sep, 2017

Procedure for Company Incorporation in India

We give advice on how to Company incorporate your company in India and provide the complete solution for Company Formation in India, Private limited Company Formation and Company Incorporation in India. Company is a voluntary association of persons formed for the purpose of doing business having a distinct name and limited liability.

13 Sep, 2017

Procedure for new Company Registration in India

We give advice on Company Registration in India and provide the complete solution for Company Formation in India, Private limited Company Formation and Company Incorporation in India. Company is a voluntary association of persons formed for the purpose of doing business having a distinct name and limited liability.

05 Sep, 2017

India's GDP Growth Seen Picking up to 6.6 pct but GST Fogs Outlook

India economic process probably accelerated to six.6 p.c within the quarter simply concluded, however analysts polled by Reuters are sounding more and more distressed that confusion over a replacement product and services tax can dampen activity in coming back months.

18 Aug, 2017

Casual taxpayers registration goes live on GSTN portal?

Casual taxpayers who conduct businesses occasionally can now register for the goods and services tax (GST), which will allow them to execute work that comes their way once in a while.

02 Aug, 2017

Govt Moves To Check Benami, Aadhaar To Be Made Must For Property Deals

In a move meant to curb benami transactions and therefore the use of black cash in realty deals, the govt. is going to build Aadhaar-based authentication necessary at the time of registration of documents like agreement purchasable, power of lawyer and can among others. The govt. has additionally firmed up plans to modify electronic registration of properties, that Aadhaar-based authentications are going to be a requirement in company formation in India.

18 July, 2017

GSTN registrations set to open for ecommerce vendors

Ecommerce companies such as Amazon, Flipkart and Swiggy concerned about losing business after the rollout of the goods and services tax (GST) on July 1 shouldn’t have to worry about being forced to exclude products sold by unregistered vendors in company formations services.

08 July, 2017

Land leasing, renting to attract GST from July 1

Come July 1 and leasing of land, renting of buildings as well as EMIs paid for purchase of under-construction houses will start attracting the Goods and Services Tax.Sale of land and buildings will be however out of the purview of GST, the new indirect tax regime. Such transactions will continue to attract the stamp duty, according to the legislations Finance Minister Arun Jaitley introduced in the Lok Sabha yesterday for approval.Electricity has also been kept out of the GST ambit in pvt ltd company registration in Delhi.

23 June, 2017

GST Anti-profiteering Rules Released: Firms Face Cancellation of Registration if found Guilty.

The government on Tuesday free anti-profiteering rules underneath the products and Services Tax (GST) regime that offer for cancellation of pvt ltd company registration in India of any entity or business if it fails to expire the good thing about lower taxes or input diminution to customers during a conterminous manner.

14 June, 2017

Registration for GST reopens on June

If you have not already registered your business under GST or you are a new business and do not have a VAT or service tax or excise registration, you may be worried about how to go about this. It is widely known that GST registration is mandatory when aggregate turnover exceeds Rs 20 lakh (Rs 10lakh for NE States).

Aggregate turnover is the basis on which GST registration is done and determines who needs to register on the GSTN. So how does one calculate aggregate turnover? Whether it is possible to have multiple company formation in Delhi for a business that operates in one state? Are centralized registrations possible? Let us delve deep into these issues.

06 June, 2017

Tax rates under GST, The gains and losses for the Indian middle class

It's only less than a month left until Goods and Service Tax (GST) sees the light of the day. India's biggest tax overhaul crossed its final hurdle last week when GST Council agreed to tax gold and silver jewellery at 3 per cent tax rate.

With GST to be implemented from July 1, it's the ideal time to check if your monthly budget will be affected under the new tax regime. We've put down a list of goods and services that will become cheaper or costlier once GST comes into force.

20 May, 2017

How to ensure new business setup in India

Description - Due to the increasing working population and their enhancing buying power, retail is one of the fastest growing economic sectors of India. If ventured correctly, you can reap significant profit in the retail field. But always remember the fact that a new business setup in India needs great research, hard work and investment of time and money. So, if you are a novice in this field, it is advisable to search for a credible company that can help you set up your new business venture following the right procedure, rules and regulations.

12 May, 2017

GSTN enrolment window to re-open on June 1 for 15 days

The enrolment window for Goods and Services Tax Network (GSTN), the IT backbone of GST, will be reopened on June 1 for 15 days, the finance ministry said in a statement. Around 61 lakh taxpayers out of total 84 lakh assesses have already enrolled under the first phase of enrolment on the new payment portal of GSTN that ended on April 30, it said.

21 April, 2017

How GST will impact the wallet of the common man

Since the passing of the GST Constitutional Bill by the Rajya Sabha in August last year, the country has been preparing itself for the new tax regime. The new GST law is India?s biggest tax reform initiative which is expected to improve compliance levels, increase government revenue in company registration in India and create a common playing field for businesses by amalgamating a host of central and local taxes.

7 April, 2017

Revenue department allows more time for GST registration till april.

The revenue department has extended by a month till April-end the enrolment of dealers with GSTN, the IT backbone for the new set-up, as so far only 60 per cent of the existing assesses are done with the switchover.

21 March, 2017

Private Ltd, LLP or public Ltd which to choose when going for new company registration in India

Fortunately, the new rules and regulations are easier when it comes to start-up a new business in India. Also, there are hassle free new company registration service providers available in India who take care of A to Z of forming and registration of the company. In this post, we will touch upon various forms of new company registration In delhi presently available and which is best suited for your business.

07 March, 2017

Ease of doing business: Government plans to introduce new integrated from for company registration

The government plans to introduce a new version of the integrated company incorporation gurgaon form in a measure aimed at enhancing ease of doing business that targets reduction in average number of days for incorporating a company to one to two days from more than four days at present.

03 March, 2017

Govt to centralise new company registration process to improve ease of doing business.

In a significant step towards improving the ease of doing business in India, the Corporate Affairs Ministry will soon centralise the whole process related to registering a new company formation gurgaon and strive to complete the processing within a day.

17 Feb, 2017

Register a new company with company formation India

Registering a new company could not be simpler when registering online with company formation India. We are companies house e-filing partner which allows us to set up new limited companies online for our clients in the UK and overseas through our sister company. The company incorporation India website is integrated directly with companies house allowing you to check the availability of your company name. We can help clients from their companies within just 3 hours through our quick online company formation service.