The Invoice Registration Portal (IRP) is an online platform introduced under the Goods and Services Tax (GST) system in India. It is a central government initiative aimed at ensuring the seamless generation and authentication of invoices for businesses. The IRP serves as a centralized system where taxpayers are required to upload their invoice details for […]
In today’s digital era, businesses in India are required to adhere to the Goods and Services Tax (GST) regulations. One crucial aspect of GST compliance is the generation of the Invoice Reference Number. The IRN serves as a unique identifier for invoices issued by businesses. Generating IRN ensures that businesses are following the necessary protocols
In India, the introduction of the Invoice Registration Portal (IRP) and the e-invoicing system has transformed the way businesses handle their invoicing processes. The government’s initiative aims to enhance tax compliance, minimize tax evasion, and streamline the overall invoicing ecosystem. To achieve these goals, it is crucial to explore how Invoice Reference Number can be
e-Invoicing, or electronic invoicing, refers to the process of creating, sending, receiving, and managing invoices in a digital format instead of using traditional paper-based invoices. It involves the automated exchange of invoice data between business partners using standardized electronic formats. The significance of e-Invoicing in modern business transactions is primarily driven by its numerous benefits
A Limited Liability Partnership (LLP) is a unique business structure that combines the advantages of a traditional partnership with the benefits of limited liability protection. Introduced in India through the Limited Liability Partnership Act, 2008, LLPs have gained popularity among professionals, entrepreneurs, and small to medium-sized businesses. To voluntarily dissolve a Limited Liability Partnership (LLP)
Income tax return (ITR) are important documents that individuals and entities in India need to file with the Income Tax Department to report their income and pay taxes accordingly. This includes sole proprietors and partnerships. Here are the basics of ITRs for sole proprietors and partnerships in India: 1. Sole Proprietorship: – A sole proprietorship
At our company, we understand the challenges faced by tax professionals when it comes to filing income tax returns (ITR) for their clients. We are committed to providing comprehensive solutions and safeguarding the interests of tax professionals throughout the entire ITR filing process. In this article, we will outline our approach to ITR filing, emphasizing
In India, the taxation of investment income is governed by the Income Tax Act, of 1961. The Act provides guidelines on how different types of investment income are taxed. Here is an overview of the taxation of investment income in India: 1. Interest Income: Interest earned on bank savings accounts, fixed deposits, recurring deposits, and
In recent years, the concept of home-based businesses has gained significant popularity in India. With the rise of digital technology and the increasing trend of remote work, more and more individuals are opting to run their businesses from the comfort of their homes. While this provides flexibility and convenience, it also brings certain responsibilities, including
A Limited Liability Partnership (LLP) is a unique business structure that combines the advantages of a traditional partnership with the benefits of limited liability protection. Introduced in India through the Limited Liability Partnership Act, of 2008, LLPs have gained popularity among professionals, entrepreneurs, and small to medium-sized businesses. Limited Liability Protection: One of the key
In this article, we will delve into the amendments made to Section 142(2A) of the Income Tax Act under the Finance Act 2023. These amendments have significant implications for taxpayers and require a comprehensive understanding to ensure compliance and optimize tax planning strategies. We will explore the key changes introduced and provide valuable insights to
Here are some tax-saving tips for start-up investors in India: 1. Utilize Section 54GB: Section 54GB of the Income Tax Act provides relief to start-up investors by allowing them to claim tax exemption on long-term capital gains arising from the sale of residential property if the proceeds are invested in eligible start-up companies. This exemption
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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