ANALYSIS OF UAE CORPORATE TAX The Government of UAE announced on 31st January 2022 that UAE would be promulgating legislation for levying federal Corporate Tax (C T) on business profits and the same shall be effective for the tax period commencing on or after 1st June, 2023. For years UAE has been considered as a …
Compliance Calendar For The Month Of August 2022 Compliances under Income Tax: Due date of depositing TDS/TCS liabilities under Income Tax Act, 1961 for the previous month is 07.08.2022. Due date for furnishing of form 24G by an office of the government where TDS/TCS for the month of July 2022 has been paid without the …
Filing of Non-Preferential Certificate of Origin is Extended till march 2023 What is Certificate of Origin? A Certificate of Origin is a certificate ial that is used to identify the country of manufacturing of any goods or commodity. The Certificate of Origin carries many other points of information such as what the product is, its …
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CBIC Reduces Limit for E-invoice from Rs. 20 Crore to Rs. 10 Crore w.e.f 1ST OCT 2022 What is E-invoice? E-Invoicing/E-Invoice is a form of electronic billing which is increasingly mandated by Governments across the World due to tax evasion. A. E-invoicing shall not be applicable to the following categories of registered persons irrespective of …
Certificate of Commencement of Business Commencement of Business’ this concept was there in the erstwhile Companies Act, 1956 and it was also introduced by the Companies Act, 2013 under the Section 11 of the Companies Act, 2013. However, section 11 was omitted (deleted) LATER ON by the companies (Amendment) Act, 2015 w.e.f. 29th May 2015. Declaration …
Time Limit of ITR verification is reduced to 30 days (from 120 days ) ITR-V stands for ‘Income Tax Return – Verification’ form. Income Tax Department needs to verify the authenticity of income tax return when filed online without using a digital signature/ Aadhaar OTP/ EVC mode. On receipt of ITR-V you have to sign …
RECENT AMENDMENT IN EQUALISATION LEVY Equalisation Levy was introduced in India in 2016, with the intention of taxation the digital transactions i.e. the income accruing to foreign e-commerce companies from India. It is aimed at taxing business to business transactions. Over the past few years, Information Technology has gone through an exponential expansion phase in …
Filling of Annual Return of Companies is necessary with the registrar of companies (ROC). The annual return contains all the information related to the shareholders, directors, debenture holders, and shareholding pattern as of the last day of the financial year. Every company incorporated under the Companies Act, 2013 or any other previous Companies Act other …
Filing Income Tax Return What’s an ITR? ITR stands for Income Tax Return. A form you have to submit to the Income Tax Department that carries information about your annual income and the taxes you’re liable to pay income during the year. Why is it Important to file an ITR? Filing your ITR is legally …
ARTIFICIAL INTELLIGENCE AND ITS IMPORTANCE Artificial Intelligence in simple terms means an ability of a computer or a robot controlled by a computer to do tasks that are usually done by humans because they require human intelligence and discernment. Creating a chat box, MCA helps and improves the ease of doing business, resolve the doubts …
Analysis of ITR-U Return During Budget 2022, Nirmala Sitharaman announced that taxpayers may now file Updated Income Tax returns (ITR-U). The Finance Bill 2022 introduced subsection 8A to section 139 of the Income Tax Act, which allows taxpayers to file an Updated ITR if their earlier ITR contains omissions or errors. What is ITR-U? The …
Taxation on Gratuity under the head “Salaries” in the hands of the employee. However, there is an exemption limit of Rs. 20,00,000 (limit applicable for FY 2020-2021) which means that gratuity received up to this limit is tax-free. Any amount received above this limit is taxable. TAXATION AND LEGAL PROVISIONS ON GRATUITY What is Gratuity? …
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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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