Company Registration

GST Filing Process Online in Bangalore Goods and Services Tax is the one of the most revolutionary steps taken by the government of India to bring a unified form of taxes across all states in the country. The system has replaced the multiple taxes that existed in the country including Central Excise, Service Tax and State VAT. It also provides the benefit of a single identification number to all the businesses registered with GST. This is called the GSTIN or Goods and Services Tax Identification Number. The process of filing the return online has been made very simple in this digital era where all information is available in just a click of a button. GST filing is an essential process for all businesses as it ensures that the correct amount of taxes is paid by the business. This is done by keeping track of all the invoices that are received and supplied to the customers. There are various forms to be filled for GST filing online. Some of the prominent ones are...

Who Are Eligible For GST Registration Every business or entity that provides any supply of goods and services to customers must get registered under GST, unless they fall under certain exceptions. A person or entity that is required to register for  Goods and Services Tax     must apply for it within 30 days of becoming liable to do so. Businesses that provide interstate supplies must be registered under GST as they are subject to IGST (Integrated Goods and Services Tax) while those who have a turnover of more than 20 lakh rupees in a year must register for VAT/CST (Central Sales Tax). Those who supply services through an internet platform must also get themselves registered for GST as they are considered as suppliers according to the GST laws. They can collect GST from their clients and claim input tax credit on their purchases. Even those who are not required to register for GST can still apply voluntarily, according to the rules of the CGST Act and SGST Act. ...

What Are the Compliance Required for OPC Private Limited Company A One Person Company is a business entity that enjoys limited liability (means, your personal assets are safe). Like any other business, you need to comply with various laws. These compliances are necessary to keep your company active and avoid any penalties. It also helps you to get better loans from banks and financial institutions. There are various annual filings required for One Person Company like DIN KYC of directors, annual statement, income tax returns etc. Non-filing of these filings can lead to heavy penalties. You can file these filings online at the ROC's official website. It is mandatory for an OPC to appoint a statutory auditor and get its accounts audited. This is to ensure that your company is following the right accounting practices and is in good standing with the ROC. You should display the name of your company and its registered office address on a prominent place at every ...

What Are the Procedures for Formation of LLP in India Unlike a partnership firm an LLP is considered a legal entity separate from its partners. It can own, acquire or dispose of assets and also sue or be sued in its own name. Its continuity is independent of death or bankruptcy of its partners. There is a minimum requirement of two designated partners and at least one should be an Indian citizen. The process of forming Limited Liability Partnership is now easier as compared to the erstwhile regime. The new procedure requires applicants to fill up a web form named RUN-LLP which is similar to the existing web form for filing company name reservation.  The new form is simple which can be filled with up to 2 names in preference order along with their significance. The application must also comply with the guidelines set by the Ministry of Corporate Affairs. After submitting the RUN-LLP form an approval notification is received from the State Registrar of Companies ...

Why is IT Filing Mandatory in India If you are an individual with business income or a professional having income exceeding Rs 1 crore or Rs 25 lakh respectively, filing your tax return is mandatory. It is also compulsory to e-file your tax return for those whose books of accounts have to be audited under section 44AB of the Income Tax Act. You have the option of e-filing your income tax return either on the direct website of the Income Tax Department or on a number of intermediary websites that offer both free and paid services. Once you complete the e-filing process, an acknowledgment form called ITR-V is generated. You need to print it, sign it and send it by ordinary or speed post to the Centralized Processing Center, Bengaluru within 120 days from the date of e-filing. Why is IT Filing Mandatory in India The central board of direct taxes has made e-filing of returns mandatory for individuals whose income exceeds the basic exemption limit (for individuals, it's R...

How to Incorporate a New Limited Liability Partnership Registration India A partnership firm is a form of business where two or more people work together. In the case of a partnership, the owners of the firm are not liable for any debts that the firm incurs. However, this is not the case with a Limited Liability Partnership (LLP) whose owners are only liable for the amount of money invested. Incorporating a new LLP is quite a straightforward process. You have to fill up Form 2 and provide all the requisite documents to the Registrar ofCompanies . This includes the subscribers' sheet including consent of all the partners. You will also need to submit proof of address of the registered office of the LLP and a photograph of all the partners. The process can take up to 14 days. Once the application is approved, you will be allotted a unique LLP Identification Number (DPIN). You will need to file an LLP agreement that defines the rights and duties of the partners. ...

What are the Documents Required for Company Registration in India? The process of starting a new business requires a lot of paperwork. Any mistake in the paperwork may result in a delay or rejection of your application. It is important that the stakeholders involved in the company registration procedure complete all the legal requirements to avoid any lapses. In this article, we will discuss the documents required for company registration in India. The first step in registering a new company is to choose a unique name for your business and get it approved by the Registrar of Companies (ROC). It is recommended that you select at least four possible names, just in case someone else has already registered the same name with ROC. Once you have chosen a name for your company, the next step is to register your business with ROC online. During this process, you will need to provide details about the company, its shareholders, and directors. You will also need to submit a f...

How to Register Private Limited Company Online in India A private limited company is one of the most beneficial forms of business structures for entrepreneurs as it shields the personal assets of shareholders. This form of business is also more investor-friendly and can help in securing better bank loans and credit lines. It is important to choose the correct business structure as different types have different rules and regulations regarding business expansion, income tax, and more. In India, the process of registering a private limited company has been completely shifted online. All the documents required are scanned and self-attested, and can be submitted directly via the MCA portal or email. Once all the formalities have been completed, the Registrar of Companies will issue the Certificate of Incorporation along with PAN and TAN to the registered business. To begin the process of a Private Limited Company Registration, you must first acquire a Director Iden...

How to ROC Annual Filing of Company in India How to ROC Annual Filing of Company in India: Every company whether it is Private Limited, One Person Company, or a Limited Liability Partnership must file its annual return with the Registrar of Companies. This is also known as the Statement of Accounts and Solvency and consists of details regarding the financial statements of the company for a given year. This must be filed within 60 days from the date of holding the annual general meeting. The Registrar of Companies is the official office that manages and administers a large number of companies secured under the Companies Act 1956 or Companies Act 2013 in India. The ROC's role is to ensure that all enlisted companies are complying with the relevant regulations and that their accounts and other information are recorded accurately. It is important for businesses to comply with the various ROC requirements to avoid fines and penalties. There are many different RO...