TDS on payment of interest on listed debentures to a resident: Section 193 of the Income Tax Act now requires the deduction of TDS on payment of any income to a resident by way of interest on securities, including listed debentures. Interest on housing loan not treated as cost of improvement: Interest on housing loans […]
Time Limit for the issuance of orders for recovery of tax Notification No. 09/2023, issued on March 31st, 2023 by the Central Government regarding the Central Goods and Services Tax Act, 2017, has extended the time limit for the issuance of orders for the recovery of tax not paid or short-paid or of input tax
Management Responsibility: The management of a company is primarily responsible for ensuring that an appropriate accounting software is selected and used for compliance with applicable laws and regulations. This includes ensuring that the software has an audit trail feature that records each and every transaction and change made to the books of account, and that
The Foreign Contribution (Regulation) Act (FCRA) is a legislation in India that regulates the acceptance and utilization of foreign contributions by individuals, associations, and organizations. Any organization that intends to receive foreign contributions in India needs to register under FCRA. In this article, we will discuss the step-by-step process to apply for an FCRA license.
We understand that as a taxpayer, you want to stay updated on the latest tax regulations and updates that may impact your finances. In this article, we will provide you with the most relevant information on the Central Board of Direct Taxes (CBDT) circular on TDS for salaries in FY 2023-24, issued on April 5,
According to the tax slabs of the old and new tax systems, each salaried employee is subject to income tax. Income tax is calculated based on various tax brackets after deducting various deductions, so tax planning must start at the beginning of the new tax year. The Finance Law of 2023 proposes new income tax
New Tax Rules in India: What You Need to Know As of April 1, 2023, the Indian government has introduced several new income tax rules related to accounting, taxation, and compliance. These new rules have important implications for individuals, businesses, and other entities operating in India. In this article, we’ll take a closer look at
Recently, the Government of India has issued GST notifications regarding updates to the Central Tax system in India, which will be effective from April 1, 2023. These GST notifications updates cover various topics, including late fees for certain returns, changes in registration and assessment procedures, and more. Here are some important points to note: Late
TDS or Tax Deducted at Source is a tax collection method in India where the individual or entity making the payment deducts a specific percentage of tax from the payment and submits it to the government. TDS is applicable to a wide range of payments, including salaries, interest, rent, commission, professional fees, and more. The
The Startup India Initiative was introduced on January 16th, 2016, with the aim of providing assistance to entrepreneurs, developing a strong startup ecosystem, and changing India’s status from a nation of job seekers to a country of job creators. A specialized Startup India Team oversees these programs and reports to the Department for Industrial Policy
What is FSSAI Compliance FSSAI compliance refers to adhering to the regulations and guidelines set by the Food Safety and Standards Authority of India (FSSAI) to ensure that food products are safe and of good quality for consumption. FSSAI compliance involves obtaining a food license, adhering to food safety and labeling standards, maintaining proper hygiene
MSME Registration The Ministry of Micro, Small and Medium Businesses, or MSME Registration for brief, is the principal government agency responsible for developing and monitoring the laws, regulations, and norms that apply to India’s small-scale industries. On October 2, 2006, the MSME went into force. It seeks to promote, encourage, and increase the
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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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