Conversion of OPC into Private Limited Company What is One Person Company (OPC)? Pursuant to Section 2(62) of Companies Act, 2013, One Person Company means a company which has only one person as a member. What are the Provisions involved? Section 18 and 122 of Companies Act, 2013 Rule 6 & 7 of Companies (Incorporation) […]
GST Council Meeting The 47th GST Council Meeting under the Chairmanship of Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman was held on 28th & 29th June 2022. The council deliberated upon various burning issues under GST and made various recommendations. The council also accepted the recommendations of the Group of Ministers (GoMs)
INCOME TAX ADVANCE RULING: MEANING AND PROVISIONS A resident taxpayer may have some taxation issues in respect of a transaction which has been undertaken or proposed to be undertaken with a non-resident. Similarly, a non-resident may have some taxation issues in respect of transaction which has been undertaken or proposed to be undertaken by him
All About Company’s Strike off Notices (STK-1 & 5) The action of striking off by the Registrar of Companies (ROC) has started again, and many of the corporates who have failed to file their annual returns have received the notice under Section 248 of the Companies Act, 2013 (hereinafter referred as “ 2013 Act”) in
FSSAI registration for Amazon warehouses is necessary to sell food items on their platform. FSSAI REGISTRATION FOR AMAZON WAREHOUSES What are Amazon Warehouses? Amazon is the largest e-commerce platform in the world. They promote and sell products online. People who sell their products through the Amazon platform are known as Amazon sellers. These sellers don’t
TDS Under Section 194H What is Section 194H? Section 194H is for income tax deducted on any income by way of commission or brokerage, by any person responsible for paying to a resident. Individuals and Hindu Undivided Family who were covered under section 44AB are also required to deduct TDS. From FY 2020-21, individual and
Non-Compliance with NFRA Rules Overview of National Financial Reporting Authority (NFRA), Rules 2018 MCA has introduced National Financial Reporting Authority Rules, 2018 vide notification dated 13th November, 2018 to provide for matters relating to accounting and auditing standards under the Companies Act, 2013. Applicable Laws: Section 132(2) :Constitution of National Financial Reporting Authority. Section 132(4) :
Guidelines under section 194S(6) Government of India, Ministry of Finance, Department of Revenue, Central Board of Direct Taxes(TPL Division) File No. F. No. 370142/29/2022-TPL (Part-I) vide Income Tax Circular No. 13 of 2022 dated 22nd June, 2022 has released “Circular regarding Guidelines for removal of difficulties under sub-section (6) of section 194S of the Income-tax
GEM REGISTRATION: MEANING AND BENEFITS The Government of India has introduced a digital e-commerce portal named GeM to enhance transparency and efficiency in the public procurement of Goods & Services for Government Organizations and Departments. The purchases through GeM by Government users have been authorized and made mandatory by the Ministry of Finance by adding
DUE DILIGENCE- MEANING AND PROCESS The process of due diligence is a continuous procedure to be carried out which is initiated right since the inception of the proposal of acquisition and goes on till the finalization of proposal into actual buyout. The need for carrying out the due diligence has its roots from the legal
GST Refunds guidelines need to follow To claim GST refunds NEW GUIDELINES FOR GST REFUNDS What is GST refund? Usually when the GST paid is more than the GST liability a situation of claiming GST refund arises. Under GST the process of claiming a refund is standardized to avoid confusion. The process is online and
CBIC introduced changes in system w.r.t AD Code Registration in exports INTRODUCTION: For starting an Import and Export business in India, you must have two registrations as per Government regulations. One is IEC Registration, and another one is AD Code Registration. Without these two registrations, you can not start an import-export business in India. 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.
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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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