New Annual Information Statement (AIS) – Overview, Benefits, and How to Access and More
Last year in December, the Income Tax Department announced the new AIS (Annual Information Statement) to ease the income tax filings for the taxpayers. With all the important information being available now in one place through the new AIS, the tax filing has become hassle free. What is an Annual Information Statement (AIS) An Annual […]
Multiple GST Registration in the Same Address
GST registration is mandatory for many companies in India. While the requirements and process of registration are relatively simple and easy to follow, there are certain confusions and ambiguities. One of them is there is no provision to declare whether multiple GST registrations can be made at the same address by different entities. In this […]
Minimum Paid Up Capital for Private Limited Companies –
Private Limited Companies are becoming a preferred format of the constitution for businesses, especially in this start-up era. The Ministry of Corporate Affairs is the apex body for governing and laying down laws for the companies in India. While private limited company registration is not a difficult task, most people ask a question i.e., what […]
LLP Vs Private limited company – Comparison between two important forms of organisation in India
Considering registering a company in India and don’t know which one to pick? Well, there are two great options for you – A private limited company and a Limited Liability Partnership (LLP). Both are popular choices in India but there are some key differences between the two that make them suitable for different businesses. This […]
LLP Registration in 5 Easy Steps
The Limited Liability Partnership Act came into force in 2008. It introduced a new form of organization for entrepreneurs, i.e LLP, in the year 2010. LLP is a partnership formed and incorporated under the LLP Act 2008. It incorporates the benefits of both partnership firm and company. This is one of the reasons that it […]
LLP as a Startup- Advantages and Disadvantages
Looking to set up a startup and considering LLP as the structure? You are not alone. Many startups choose to operate as an LLP for a variety of reasons. An LLP is a business structure designed for partnerships between two or more co-owners. It gives the benefits of both a corporation and a partnership while […]
List of Post Incorporation Compliances for Private Limited Companies
While you may be excited to start your business after getting obtaining your private limited company registration, the story of compliances does not end here. There are certain post incorporation compliances that you need to take care of. In this guide, we have covered the post incorporation compliances for private limited companies. List of Post […]
Income Tax Rates Slab for FY 2022-23 or AY 2023-24
Under the Income Tax Act, 1961 specific slab rates are provided, on the basis of which tax is levied on the taxpayers. Different slab rates are applicable to different ranges of income as well as different types of taxpayers. These slab rates are often revised in the budget by the finance minister. However, there was […]
Income Tax for the self-employed, BusinessPerson and Freelancers
Income tax for the self-employed, business person and freelancers in India is a complex process. There are many deductions and exemptions that you can claim which will reduce your tax liability. This article will help to demystify the process and provide some tips on how to minimise your tax burden. How Your Income Is Treated […]
Income Tax Filing Using Form 16
Form 16 plays an important role while filing income tax returns for salaried individuals. It forms the basis of proof that the TDS has been deducted by the employer from the salary of individuals. All the necessary information that is required by the individuals for filing their returns is contained in this form. In this […]