FORM RFD 11: FILING OF LUT UNDER GST A Letter of Undertaking (LUT) is a legal document that is required to be submitted by certain taxpayers under the Goods and Services Tax (GST) law in India. LUT is a declaration by a registered person that they will follow all GST compliance regulations and will […]
IMPORTANCE OF FORM 12BB What is Form 12BB? Form 12BB is a document used in India by salaried individuals to claim tax deductions for various expenses. It is a declaration form that is used to claim deductions under Sections 80C, 80D, and other sections of the Income Tax Act. The form is to be
LEAVE ENCASHMENT What is Leave Encashment? Every salaried person, as per labor law, is entitled to a minimum number of paid leave every year. However, it is not necessary that an individual employee utilizes all the leave he is entitled to in a year. In fact, most employers allow employees an option of carrying
Leave Encashment: Meaning, Taxability and Exemption Read More »
EPF E-PASSBOOK FACILITY AND THEIR BENEFITS What is Employees Provident Fund? The Employees’ Provident Fund (EPF) is a scheme governed by the Employees’ Provident Fund Organization. EPF basically aims to provide social security and offers retirement benefits. Basics of Employees’ Provident Fund (EPF)- EPF comprises of the following three different schemes- 1. EPF Scheme,
TAX BENEFITS OF STARTUP INDIA The Startup India campaign was announced for the first time on 15th August 2015 by the Prime Minister of India, Shri Narendra Modi. However, the action plan of the Startup India Scheme was unveiled on 16th January 2016. Startup India Scheme is one of the flagship initiatives of the Central Government
IMPORT AND EXPORT CODE UNDER GST The main purpose of the IEC is to regulate the import and export of goods and to ensure that all the necessary documents are in place. The IEC also helps the government to keep track of all the imports and exports and to monitor the trade balance between
AN OVERVIEW OF NIDHI COMPANY A Nidhi company is a company that is recognized under section 406 of the Companies Act, 2013 read with Nidhi Rules 2014. Their core functions are borrowing and lending money among its members and fall under the non-banking Indian finance sector. It is a company that has been incorporated
Differences in ITC availed in GSTR-3B Vs GSTR-2A INTRODUCTION: As per the GST Law, input tax credit [ITC] can be availed by the registered person on the inward supplies of goods/services used/intend to be used in course of business of making taxable supplies/zero-rated supplies. ITC can be availed subject to satisfaction of conditions set
SECTION 194Q: TDS APPLICABILITY ON PURCHASE OF GOODS Finance Act, 2020, sub-section (1H) was inserted into section 206C of the Income Tax Act. As per section 206C(1H), the seller of the goods receiving the consideration of value exceeding INR 50 Lakhs was required to collect TCS @ 0.1%. The provisions are effective from 1st
Exemption from filing form 10F till 31ST MARCH 2023 Form 10F is an Income tax form that is giving benefits to the non-resident taxpayer by reducing the tax rate from a higher rate to a lower rate of TDS (tax deduction at source) in India. NRIs can avoid paying double tax as per the Double
New Guidelines under Section 194R are aimed at providing greater clarity and simplification of the provisions of Section 194R, which deals with the taxability of payments made by companies to banks and NBFCs. GUIDELINES UNDER SECTION 194R OF THE INCOME TAX ACT 1961 Section 194R was introduced by Finance Act w.e.f 1st July 2022 What
Starting an edtech business in India can be a rewarding and lucrative venture. Starting edtech startup is good idea to reach wider audience. Here are some steps you can follow to start an educational technology company in India: Research the market: Look into the current state of the educational technology market in India and
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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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