SECTION 233: FAST TRACK MERGER UNDER COMPANIES ACT,2013 Section 233 of the Companies Act, 2013 introduces the globally accepted concept of the Fast Track Merger Process which introduces a slightly simpler procedure for mergers and amalgamations of certain classes of companies including small companies, holding and subsidiary companies. This process, enables these companies to …
CHANGES IN ITR FORMS FOR THE A.Y 2023-24 New ITR forms for AY 2023-24: The Income Tax Department has notified Income Tax Return forms (ITR 1-6) and Income Tax verification form (ITR V) for the assessment year 2023-24. These forms will be used for return filing for income made in FY 2022-23. The last …
GUIDE ON TDS PAYMENT TO CONTRACTOR What is Section 194C? Section 194C states that any person responsible for paying any sum to the resident contractor for carrying out any work (including the supply of labor), in pursuance of a contract between the contractor and the following: The Central Government or any State Government Any …
SECTION 50 OF CGST ACT: INTEREST ON DELAYED PAYMENT OF TAX The Government of India has specified the due dates to pay Goods and Services Tax. The due date to pay GST is different for different types of taxpayers. If one fails to pay GST within the due date, one must pay the interest …
HOW TO GENERATE CARO REPORT? Ministry of Corporate Affairs vide its Order Dated 25.02.2020 has issued the Companies (Auditor’s Report) Order, 2020 applicable from 01.04.2019 in suppression of the CARO 2016, the applicability of which has been extended on 24.03.2020, to be applicable from 01.04.2020. However, the said order has been further extended by …
FORM INC-20A: DECLARATION FOR THE COMMENCEMENT OF BUSINESS ON V3 PORTAL Introduction As per the Companies (Amendment) Ordinance 2018, there is a requirement for all the companies registered on or after 2 November 2018 to file a certificate of commencement of business. Form 20A is a declaration filed by the directors within 180 days …
TAXATION OF GIFTS TO NRIs “A Gift” is a voluntary transfer of Cash, Movable /Immovable property by one person to another person without consideration in lieu of love and affection. A gift may be given by a person to his/her relatives or to friends or to any other person without consideration. Some gifts are …
BUDGET 2023: TDS RATE ON EPF WITHDRAWALS FOR NON-PAN HOLDERS What is EPF? The Employee Provident Fund (EPF) is a retirement savings scheme for employees in India. It is a mandatory contribution made by both the employee and the employer, and the funds collected under the EPF scheme are managed by the Employees’ Provident …
AMENDMENT IN SECTION 44AD & 44ADA Meaning of Presumptive taxation scheme: As per the Income-tax Act, a person engaged in business or profession is required to maintain regular books of account and further, he has to get his accounts audited. To give relief to small taxpayers from this tedious work, the Income-tax Act has …
FORM CMP-08: PROCESS OF FILING THROUGH GEN GST SOFTWARE What is CMP-08? FORM CMP-08 is a tax return form under the Goods and Services Tax (GST) regime in India. It is a monthly self-declaration form that a taxpayer has to file if they have opted for the Composition Scheme under GST. Under the …
ENHANCEMENT OF 1+YEAR ON EV BATTERIES UNDER SUBSIDY An electric vehicle (EV) is a type of vehicle that runs on electricity, instead of gasoline or diesel fuel. It uses an electric motor and a rechargeable battery to power the vehicle, which can be charged from an external source or generated onboard through regenerative braking. …
BUDGET 2023: OLD TAX REGIME OR NEW TAX REGIME In the Budget 2023, Finance Minister Nirmala Sitharaman proposed to make the new income tax regime the default tax regime for taxation purposes. However, taxpayers will continue to have the option to avail the benefit of the old tax regime. This means, if an employee does …
Old Tax Regime or New Tax Regime? Which one is Beneficial Read More »
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.
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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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