Income tax is a fundamental tool used by governments globally to generate revenue for public services and infrastructure development. It’s a way for countries to collect money from their citizens and businesses. However, it’s important to recognize that not all countries employ the same approach when it comes to income tax. There are four main […]
The Corporate Identification Number, or CIN for short, is like a digital fingerprint for businesses in India. It’s a unique code given to each company, making it easy to identify them among many others in the country’s business world. Why Does the CIN Matter? To understand why CIN is important, think of it as a
The GST number, also known as the GSTIN (Goods and Services Tax Identification Number), is like a special code given by the Indian government to businesses so that they can pay their taxes correctly. To check if a business has a valid GST number, you can use the GST portal. This portal has a search
A business sets up its main office in the place where it’s officially registered. This main office can be any important location, like the headquarters, a factory, a branch, or an office building. In India, where the company gets registered, this main office also acts as its legal home. The government office in the same
On the 8th of March 2022, the Ministry of Corporate Affairs initiated a significant transition by migrating Limited Liability Partnership (LLP) forms from the V2 version to the V3 version. This migration process posed many challenges for different groups, especially professionals and entrepreneurs trying to follow the rules of the LLP Act of 2008 and
When it comes to the realm of One Person Companies (OPCs) in India, adhering to OPC Annual Filing requirements is pivotal. One Person Company (OPC) is a distinct business structure specifically designed to cater to solo entrepreneurs in India. It offers a unique combination of benefits, including limited liability protection for the owner, ensuring that
When starting your own business, you’ll come across a big choice: Should you make your business official by incorporating it or not? This decision is crucial because it doesn’t just provide protection; it sets the stage for your business to grow and succeed. In this article, we’ll explore the benefits of incorporating your business. 1.
This statement pertains to recent adjustments made in the GSTR 3B returns to help taxpayers accurately report information regarding Input Tax Credit availed, ITC reversal, ITC re-claimed, and ineligible ITC. It is associated with Notification No. 14/2022 – Central Tax dated July 5, 2022, in conjunction with Circular 170/02/2022-GST, dated July 6, 2022. According to
Cash is viewed as a financial means to complete a transaction between a payer and a payee. In India, following the demonetization and the emergence of UPI as a money transfer method, the landscape of transaction settlements underwent significant changes. The government actively promotes cashless transactions over cash-based ones for reasons such as transparency, taxation
Enter a new world of money management that’s easier and smarter! The old ways of handling money are gone, and we’ve got a high-tech and smooth way to manage your cash. Picture yourself in control with just a few taps, whether you’re new to this or a money pro. The financial world has gone digital,
Presenting the September 2023 Statutory Tax Compliance Tracker, a thorough tool crafted to clarify the complexities of following the Income Tax Act of 1961 and the Goods and Services Tax (GST) Act of 2017 during the entire month of September 2023. We’ve included important dates you need to remember to submit your taxes correctly. Whether
The Income Tax Act of 1961 offers taxpayers the option to file a belated ITR should they miss the initial deadline for submitting their returns. This provision is covered in Section 139(4) of the Income Tax Act. The Indian Government requires all individuals, families, companies, partnerships, and other entities to pay taxes on their earnings.
MSME Suvidha Powered By Legal Suvidha has been a one-stop Compliance Provider for all start-ups and entrepreneurs.
Want to Setup your business in India? Connect with the best Online Registration, Licenses and Return filing solution providers for business across India. Since 2007, LegalSuvidha has been a one-stop shop for all startups or entrepreneurs looking for a chartered accountant, company secretary or lawyer. We have been ensuring Startups and SMEs are fully compliant with India’s legal system. Over the past 15 years, the depth of our offerings has increased and that too at affordable prices and customer satisfaction has made our standing different and we are giving a tough competition to other online facilitators of legal services in India. We have the best team for Company incorporation, Trademark Registration, Auditing, Advisory and Tax Filing for large, medium, small businesses and Startups in India.
Most of the budding entrepreneurs are in dilemma about what kind of entity to register when they start their business. Should it be a private limited company, limited liability partnership, partnership firm, one person company or a sole proprietorship? Each of these has its advantages and disadvantages. The type of entity should be chosen only after one round of consultation with our experts, as they will be in a better position to guide on the same. For example, Registering as a private limited company would be a good fit for any venture that will look for funding at a later stage. You can contact Legalsuvidha for any type of registration and advice you need for your business transactions. We assure you of great professional service at a reasonable price. You can connect with us for a free check on the Company name availability.
The importance of intellectual property is very much but most of the businesses are not aware of the same. We at LegalSuvidha simplify the process for you to register a Trademark for your brand, to get copyright for your artistic, creative ability and will also help you in patenting the process after a proper patent search patents which will ensure that you have sole rights to your creation, be it your brand, your designs or your inventions. At Legalsuvidha, we are very well equipped to handle all your IP requirements. We facilitate trademark applications in just two days, copyright registration for all your software, pictures, audio, and video content, and can connect you to patent attorneys to conduct a patent search and file your patent applications.
To do any business in India, you need a license for almost everything. Started a manufacturing business? You need a GST Registration and a Trade License. For a food business, you need an FSSAI license. In case you have employees, You need a Professional Tax registration and Shops & Establishments Act Registration. If that’s not enough, you also need to file GST Returns and Professional Tax Returns.
There is a lot of importance of legal documentation when you start your business, whether with your Investors, partners/co-directors, employees and any vendors you deal with. By getting a lawyer to draft contracts or agreements with new vendors, employees, and investors, you’re ensuring that you have all the downsides covered. At LegalSuvidha, we connect you to lawyers who will deliver complex documents, from shareholders’ agreements and founders’ agreements to terms of service/privacy policy and non-disclosure agreements, at a reasonable cost in a few days.
It’s not enough to have started a private limited company or an LLP. You need to comply with all the requirements of the Ministry of Corporate Affairs, Central Board of Indirect taxes and Central Board of direct taxes once you register your business. You need to inform them of every relevant change you make, whether it is adding a director, removing a partner or increasing authorized share capital. You also need to file annual returns and maintain your accounts. In the case of a private limited company, you even need them audited. At LegalSuvidha, we facilitate all these services completely online. This means you can engage a professional on retainer for the year and we’ll ensure that all the formalities are completed for you while you focus on your business.
We are Authorized e-return Intermediaries and have recently launched our own ITR filing platform, this will help the salaried employees and businesses to get their ITR filed within the time and at a reasonable price. Through the use of automation, the system is highly effective and will help in filing ITR in up to 10 minutes for Salaried employees. We have on-boarded the best Chartered Accountants who will provide consultation for both Salaried employees and Businesses to file proper taxes to the government of India. This will help in avoiding legal notices in the future and will also help in getting the returns processed at the earliest. We are the first in the market to launch the ITR filing facility for FY 2018-19.
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