Registering Company
- Indian Entrepreneurs who wish to set up a new business seek our advice on the type of the entity to set up. There are many types ranging from proprietary concerns to private limited companies. It is really confusing to choose among them for a start-up business. This is where our expertise comes into play. We are providing services in the area of setting up business for over three decades! On a personal interaction with the prospective clients, we suggest the most suitable model for their type of business.
Type of entity
- Proprietary Concern
- Partnership Firm
- Private Limited Company
- Limited Liability partnership (LLP)
- One Person Company (OPC)
- Trusts and Societies
- Association of Persons (AOP)
Zero-in the organization
- Incorporation of the business
- Equity Share capital structuring
- Preference Share capital structuring
- Loan Structuring
- Opening Bank Account
- Commencement of Business
INCOME TAX
PERMANENT ACCOUNT NUMBER (PAN)
Permanent Account Number (PAN): Permanent Account Number (PAN) is a ten-digit alphanumeric identification number allotted to every taxpayer. It is mandatory to quote PAN on return of income and other important financial transactions.
Tax deduction Account Number (TAN)
TAN or Tax Deduction and Collection Account Number is a 10 digit alpha numeric number required to be obtained by all persons who are responsible for deducting or collecting tax. Under Section 203A of the Income Tax Act, 1961, it is mandatory to quote Tax Deduction Account Number (TAN) allotted by the Income Tax Department (ITD) on all TDS returns.
Tax Residency Certificate
A resident taxpayer can file an application in Form 10FA to the Assessing Officer (‘AO’) for obtaining a TRC in India. The application form along with supporting documents has to be submitted to the AO. The New Rule provide that the AO, on receipt of the application and on being satisfied of the particulars contained therein, should issue the TRC to the resident assessee in Form 10FB.
Goods and Service Tax Act
Goods and Service Tax (GST) is a destination based tax on consumption of goods and services. It is levied at all stages right from manufacture up to final consumption with credit of taxes paid at previous stages available as setoff. In a nutshell, only value addition will be taxed and burden of tax is to be borne by the final consumer.
Who has to get registered under GST Act?
Every supplier whose aggregate turnover exceeds Rs. 20 Lacs in a financial year is liable to get himself registered within 30 days, in a State from where he makes taxable supplies. Further, a casual taxable person or a non-resident taxable person shall apply for registration at least 5 days prior to the commencement of business. Our team is well versed with GST matters. In case, you need these services, we would be glad to assist you
Who is responsible to pay taxes?
Generally, the person effecting taxable supplies is liable to pay taxes. However, Import of service will be taxable in the hands of the recipient i.e., importer
Registration under Karnataka Shops Act
THE KARNATAKA SHOPS AND COMMERCIAL ESTABLISHMENTS ACT 1961 provides for the regulation of conditions of work and employment in Shops & commercial establishments in the State of Karnataka.
Who has to register?
Every Shop or Establishment carrying trade, business or services within the notified areas of State of Karnataka, compulsorily, within 30 days from starting the business shall register his establishment under this Act.
MSME or Udyog Aadhaar Registration or Udyam Registration
Micro, Small and Medium Enterprises (MSME) sector has emerged as a highly vibrant and dynamic sector of the Indian economy. MSMEs not only play a crucial role in providing large employment opportunities but also help in industrialization of rural & backward areas, thereby, reducing regional imbalances, assuring more equitable distribution of national income and wealth. MSMEs are complementary to large industries as ancillary units and this sector contributes enormously to the socio-economic development of the country.MSMEs need assistance and help from the Government as they are not equipped with technology and resources like big companies. Hence, the government provides schemes, incentives and rebates to this sector of the economy.
Profession Tax
Profession Tax is levied by State Governments in India. We are covering the details of Karnataka Tax on Profession, Trade, Callings and Employment Act, 1976 (Call it as PT Act). We help the entities to obtain new registration, amendment of existing registrations, filing of monthly and annual returns, etc.Yes. Every person who is engaged in any profession or business in the State of Karnataka has to get PT registration. This means, the following entities have to get PT registrations.
- Hindu undivided family (HUF).
- Firm.
- Company (Public or Private Limited).
- Other Corporate bodies.
- Any Society.
- Any Club or Association.
Employee Provident Fund
The Employees' Provident Fund (EPF) Organization, a statutory body under the Ministry of Labour and Employment, Government of India administers social security schemes framed under the Employees' Provident Funds & Miscellaneous Provisions Act, 1952 Provident Fund, Pension and Insurance to industrial employees. Any business/establishment with 20 or more employees working in any specified industries should register with EPFO. The establishments can get voluntary registration if the employee strength is less than 20
Employee State Insurance
Employees’ State Insurance Scheme of India is a multi-dimensional Social Security Scheme tailored to provide Socio-economic protection to the 'employees' in the organized sector against the events of sickness, maternity, disablement and death due to employment injury and to provide medical care to the insured employees and their families. All business or establishments employing 10 or more persons during any part of the year has to get themselves registered under Employee State Insurance (ESI) Act. The ESI coverage extends to all the employees who earns a monthly salary upto Rs.21000/
Employee State Insurance
Employees’ State Insurance Scheme of India is a multi-dimensional Social Security Scheme tailored to provide Socio-economic protection to the 'employees' in the organized sector against the events of sickness, maternity, disablement and death due to employment injury and to provide medical care to the insured employees and their families. All business or establishments employing 10 or more persons during any part of the year has to get themselves registered under Employee State Insurance (ESI) Act. The ESI coverage extends to all the employees who earns a monthly salary upto Rs.21000/
Non STPI and STPI
Software Technology Park of India (STPI), an autonomous society under the Ministry of Communication and Information Technology, Dept. of Electronics and Information Technology, Govt. of India has been set up with a distinct focus to boost up Software export from the country. STPI is constantly working with an objective to implement STP/EHTP scheme formulated by Govt. of India, to set up and manage infrastructural facilities.
Who can become a STP unit and how?
- An Indian company.
- A Subsidiary of a Foreign Company.
- A branch office of Foreign Company.
Import Export Code
Importer Exporter Code (IEC) is a unique 10 digit code issued by Director General of Foreign Trade (DGFT), Ministry of Commerce, Government of India. To import or export in India, IEC is mandatory without which, no person or entity shall make any Import or Export.However, Persons importing or exporting goods for personal use not connected with trade or manufacture or agriculture are exempt from obtaining IEC.
Trade License
Importer Exporter Code (IEC) is a unique 10 digit code issued by Director General of Foreign Trade (DGFT), Ministry of Commerce, Government of India. To import or export in India, IEC is mandatory without which, no person or entity shall make any Import or Export.However, Persons importing or exporting goods for personal use not connected with trade or manufacture or agriculture are exempt from obtaining IEC.