GST on Export Freight GST on Export Freight is the tax levied by the Indian government on the transportation of goods from India to a place outside India. This tax is applicable on the services provided by the transporter, such as freight charges, handling charges, and other related expenses. Why is GST on Export Freight …
ITR stands for “Income Tax Return”. It refers to a document or form that individuals or businesses are required to file with the tax authorities to report their income earned and taxes paid during a given financial year. The purpose of filing an ITR is to calculate the amount of tax liability owed to the …
An annual return is a mandatory filing that every company incorporated in India is required to submit to the Ministry of Corporate Affairs. It is a summary of a company’s activities during the financial year and must be filed by all companies, regardless of their size or turnover. Failure to file an yearly return can …
The Companies Act of 2013 outlines the regulations for removing the names of companies from the Register of Companies. This process, governed by Sections 248 to 252 of the Act, provides underperforming businesses with an opportunity to eliminate their names from the list of registered companies maintained by the Registrar of Companies. A company that …
Individuals or businesses that sell goods or services on online platforms such as Amazon, Flipkart, eBay, etc. are commonly referred to as e-commerce sellers. These can include manufacturers, wholesalers, merchants, or even private individuals who wish to sell their products or services online. In India, e-commerce sellers are required to comply with the rules and …
Discussions have been ongoing regarding the suitable tax rate for online gaming. With the increasing number of individuals engaging in online games for monetary purposes, the growth of the gaming industry has sparked debates on the taxation and associated ITR Filing.It’s interesting to note that the industry has been looking for and debating the need …
The Development of Premium Online Gaming: Taxation in the modern era Read More »
The Reserve Bank of India (RBI) has updated the rules that lenders must abide by when applying loan penalties. When a borrower delays a payment or violates the terms of the loan, many lenders now impose additional interest, known as penal interest. The RBI has proposed that fines be assessed as a fixed fee instead …
The Indian taxation system follows a progressive approach where the tax payable increases as income rises, with Income Tax slabs introduced to facilitate this approach. The applicability of these slabs depends on factors like the taxpayer’s residential status, income level, category, and age. Income Tax Rates in India are reviewed annually after the budget announcement, …
Income Tax Slabs rates for AY 2024–25 (FY 2023–24) Read More »
In the Financial Year 2022–23 (Assessment Year 2023–24), several significant changes made by the Finance Act of 2023 will be highlighted in this article. When submitting the Income Tax Return (ITR) for Assessment Year 2023–24, certain adjustments must be taken into consideration. The Agnipath plan’s Section 80CCH deduction, which is applicable to people who are …
Income Tax Modifications Effective for AY 2023–24 (FY 2022-23) Read More »
Introduction In this article, we will discuss Section 16 of the CGST Act 2017, which deals with the eligibility and conditions for taking Input Tax Credit (ITC). As a registered taxpayer, it is important to understand the provisions of Section 16 to ensure that you are able to claim the ITC to which you are …
Filing income tax return (ITR) can be a difficult task, especially for freelancers and self-employed professionals. However, it is essential to file your tax returns accurately and on time to avoid any penalties or legal issues. In this comprehensive guide, we will provide you with step-by-step instructions on how to file your income tax returns …
Tips for Self-Employed and Freelancers to File Income Tax Return for FY 22-23 Read More »
Digitization Revolution in Indian Taxation: A Comprehensive Overview The digitization of the Indian taxation system has been one of the most significant developments in the country’s financial sector in recent years. The government has taken several initiatives to simplify the taxation process and make it more transparent and efficient. In this article, we will provide …
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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