Filing income tax returns can often be a difficult task, but the prospect of a tax refund serves as a motivating factor for many taxpayers. If you’re looking to expedite the process of receiving your income tax refund in India, there are several steps you can take to ensure a smoother and faster experience. **File […]
In accordance with the provisions outlined in the Income Tax Act of 1961, the significance of adhering to the stipulated due date for filing Income Tax Returns (ITRs) cannot be overstated. The act of filing an ITR post the designated deadline carries a cascade of consequences that merit thorough contemplation. These multifaceted implications traverse various
This comprehensive article delves into the intricate nuances of tax liability under the Goods and Services Tax (GST) law in India, examining specific scenarios and their implications for both businesses and individuals. By analyzing the legal provisions and addressing ambiguities, the article aims to provide clarity on tax payment responsibilities in various situations. Introduction: The
The Income Tax Act of 1961 encompasses a comprehensive set of regulations pertaining to income and taxation, including provisions related to the treatment of losses under different income heads. Understanding the correct method to offset these losses can significantly influence your tax liability. Under the Income Tax Act of 1961, there are five distinct heads
Advance Tax is a pivotal aspect of the contemporary tax landscape, revolutionizing the traditional method of paying taxes as a lump sum at the end of the financial year. It embodies a progressive approach that requires taxpayers to fulfill their tax obligations in installments spread across the entire fiscal year. This dynamic system is primarily
Compliance with regulatory guidelines and statutory provisions is a crucial part of any company’s operations. For companies registered in India, one of these mandatory obligations includes the annual filing of accounts and returns as per the Companies Act, 2013. This comprehensive guide will provide an in-depth understanding of these annual filing requirements, the various financial
As tax season approaches, many individuals eagerly await their income tax refunds. However, this time of year also attracts scammers and cybercriminals who exploit people’s expectations of a refund. These criminals use various deceptive tactics, including sending fake income tax refund messages, to trick innocent taxpayers into revealing sensitive information or transferring money. In this
Embarking on the journey of establishing a startup business is an exhilarating endeavor that comes with numerous challenges. In India, the startup ecosystem has been witnessing a remarkable surge, and the government has played a pivotal role in nurturing and supporting aspiring entrepreneurs. To promote innovation, boost economic growth, and harness the potential of the
The Income-tax Department in India has witnessed a significant and unprecedented increase in the number of Income-tax Returns (ITRs) filed for the assessment year (AY) 2023–24, setting a new record in the nation’s tax history. According to an official statement from the Press Information Bureau, the total number of ITRs filed as of July 31,
The Department has recently released new Income Tax Return (ITR) forms for the Assessment Year 2024-2025. In this article, we aim to highlight the key changes in each ITR form to assist you in preparing the necessary documents during the filing of your ITR. ITR-1: The updated ITR-1 form now includes a new section requiring
In this blog, we will discuss the crucial matter of annual filing deadlines applicable to diverse corporate entities, including one-person companies, small and non-small companies, as well as public companies. The observance of these due dates is of paramount significance, demanding unwavering adherence from each company. In the present landscape, regulatory authorities, such as the
Tax Deducted at Source (TDS) is a fundamental method employed by governments to collect taxes efficiently. This mechanism requires employers and other deductors to withhold a certain portion of income as tax from their employees or payees. Subsequently, this deducted tax amount is remitted to the government in advance. The deduction is made at the
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.
Legal Suvidha © 2013-2024. All Rights Reserved.
