A Director Identification Number (DIN) is a unique identification number assigned to individuals who are appointed as directors of companies in India. It is a unique 8-digit number that is assigned by the Ministry of Corporate Affairs (MCA) to track the activities of directors and ensure compliance with legal requirements. The DIN serves as a […]
According to the Income Tax Act of 1961, there are some organisations that are eligible for tax exemptions. Tax exemptions are made available to organisations that do not operate for profit, such as Section 8 businesses, charitable trusts, and NGOs. Institutions formed in India that are not operating for profit are eligible for such exemptions
Seed funding is a type of funding that startups typically receive in the earliest stages of their development.The first level of fundraising for a startup is seed funding. Angel investors, close friends and family, as well as the original firm founders, frequently provide seed funding. Although bank loans are another option for early-stage startups, angel
Startups may seek for a three-year tax exemption under the Startup India Plan of the Indian government within ten years of its formation. We help the start-up acquire Tax Exemption U/s Section 80IAC. During the early phases of business, newly formed and incorporated firms frequently experience a lack of financial resources, which further affects their
One country where frauds are common is India. Every now and again, we see something that is illegal in some way. Another sophisticated scam known as the “VPP SCAM” is added to this. So the question is, what exactly is this scam, and who should be concerned? This time, aspiring entrepreneurs are afraid of being
Income tax return is the form in which assessee files information about his/her income and tax thereon to Income Tax Department. Various forms are ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 and ITR 7. When you file a belated return, you are not allowed to carry forward certain losses. What
Accounting for Sole Proprietorship A sole proprietorship’s accounting needs are somewhat different from those of other kinds of business companies. As the owner is regarded as being inseparable from the business, it is not necessary to keep a separate set of accounting records. But, keeping track of business activities is necessary so that you can
Sole Proprietorship firm, also known as a sole trader, proprietorship or individual entrepreneurship’. It is a type of business/enterprise/firm that is owned by a single person leaving no distinction between the owner and the business entity. What is tax deduction For Sole Proprietorship In India? If you have investments in any of the investment instruments
SECTION 233: FAST TRACK MERGER UNDER COMPANIES ACT,2013 Section 233 of the Companies Act, 2013 introduces the globally accepted concept of the Fast Track Merger Process which introduces a slightly simpler procedure for mergers and amalgamations of certain classes of companies including small companies, holding and subsidiary companies. This process, enables these companies to
CHANGES IN ITR FORMS FOR THE A.Y 2023-24 New ITR forms for AY 2023-24: The Income Tax Department has notified Income Tax Return forms (ITR 1-6) and Income Tax verification form (ITR V) for the assessment year 2023-24. These forms will be used for return filing for income made in FY 2022-23. The last
GUIDE ON TDS PAYMENT TO CONTRACTOR What is Section 194C? Section 194C states that any person responsible for paying any sum to the resident contractor for carrying out any work (including the supply of labor), in pursuance of a contract between the contractor and the following: The Central Government or any State Government Any
SECTION 50 OF CGST ACT: INTEREST ON DELAYED PAYMENT OF TAX The Government of India has specified the due dates to pay Goods and Services Tax. The due date to pay GST is different for different types of taxpayers. If one fails to pay GST within the due date, one must pay the interest
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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