With the rise in foreign investments, whether through Foreign Direct Investment (FDI) or Overseas Direct Investment (ODI), it has become crucial for businesses to comply with the regulations outlined in the Foreign Exchange Management Act, 1999 (FEMA 1999). One such compliance requirement is the filing of the FLA Return. This return must be submitted by …
Annual FLA Report on Foreign Assets and Liabilities under FEMA Read More »
The Indian government has introduced an amnesty scheme for small businesses, non-filers of final returns, and taxpayers who have had their Goods and Services Tax (GST) registration cancelled. The Central Board of Indirect Taxes & Customs (CBIC) has issued a notification stating that those affected can apply for the revocation of their cancelled registration by …
The Indian government has released various notifications regarding Amnesty & Compensation Cess in accordance with the proposals of the 49th GST Council Meeting. Notification No. 03/2023 – Central Tax dated 31.03.2023 is one of these notifications, which offers an amnesty scheme for registered individuals whose registrations were cancelled on or before 31.12.2022 due to non-filing …
How to take advantage of the amnesty for GST registration Read More »
Section 80GG in the Income Tax Law provides deductions for rental expenses based on certain criteria. These criteria include being an individual or a Hindu Undivided Family (HUF), being self-employed or salaried, and other conditions. One of the key deductions available is for rent paid on a house, which is covered under this section. This …
Income Tax Sec 80GG for Old Tax Regime FY 2023-24 Read More »
The saying “a penny saved is a penny earned” applies to tax planning, which presents an opportunity to avoid overpaying taxes. In India, individuals with an annual income of up to Rs. 2.5 lakhs are exempt from paying taxes. Deductions from gross total income for tax-saving investments, eligible expenses, donations, and more can be claimed …
The EPFO, responsible for managing the retirement savings of more than 60 million subscribers in India, has decided to modify its redemption policy for ETFs. The aim is to increase returns for its subscribers and protect its income from market volatility. This decision was made during a recent meeting of the EPFO’s highest decision-making body, …
OPC Annual Filing An OPC (One Person Company) has lower compliance requirements in comparison to Private Limited or Public Limited Companies, which leads to reduced costs associated with annual compliance. OPCs are obligated to submit two forms annually, namely MGT 7A and AOC 4. It’s crucial to comprehend the purpose of these forms and their …
Deadlines for OPC Annual Filing for FY 2022–2023 Read More »
The 14th section of the Real Estate (Regulation and Development) Act states that the promoter must follow the approved plans and specifications for the proposed project, as authorized by the competent authorities, throughout the development and completion of the project. Section 14 highlights that once the sanctioned plans, layout plans, specifications, and descriptions of fixtures, …
In recent years, digital payments have gained immense popularity in India due to the convenience and ease they offer. One such mode of digital payment is the Unified Payments Interface (UPI). While UPI transactions have several benefits, including quick and hassle-free payments, there are some charges associated with them that users need to be aware …
The Income Tax Department has recently introduced JSON Schema for ITR 1 and ITR 4 for the Assessment Year 2023-24, which corresponds to the Financial Year 2022-23. ITR 1 applies to individuals who are residents (but not ordinarily residents) and have a total income of up to Rs. 50 lakh, with income from salaries, one …
At the start of each financial year in India, companies are reminded to take note of important deadlines for their annual filings, regardless of their size or type (Private Limited, Public Limited, etc.). It is crucial for companies to be aware of all compliance-related deadlines in the new financial year. To assist with this, we …
Cost inflation index is a tool used in India to account for inflationary effects on asset costs. It reflects changes in prices of goods and services over time. The government releases the CII annually to help taxpayers adjust the purchase price of their assets for inflation when calculating their tax liability. By using the CII, …
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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