Capital Required to Start a Company

A company can be started in India with a very minimum amount of capital. There is no fixed amount and the shareholders of the company being incorporated can determine the capital they wish to contribute. While setting up the capital structure of the company, the following are some of the concepts to be kept in mind:

Face Value of Share: The face value of a share is the price per share with which the company is incorporated. Normally, the face value of share is Rs. 1 or Rs. 10 or Rs. 100 or Rs. 1000 or Rs. 10,000.

Authorized Capital: Authorized capital is the total value of shares a company can issue to shareholders. Normally, all companies are incorporated with an authorized capital of Rs. 1 lakh or Rs. 10 lakhs. If a higher authorized capital is required, the company would be required to pay additional fees to the Ministry of Corporate Affairs. The authorized capital of a company can be increased at any time after incorporation.

Paid-up Capital: Paid-up capital of a company is the number of shares issued to shareholders for which they have paid or deposited money to the company. Paid-up capital of a company cannot be more than the authorized share capital of the company.

Steps to form a Private Limited Company:
Step 1: Obtain Digital Signature Certificate (DSC)
Step 2: Obtain DIN
Step 3: Name Availability*
Step 4: Form SPICe+ INC-32
Step 5: e-MOA and e-AOA
Step 6: PAN and TAN Application

Limited Liability Partnership

What is an LLP?

A Limited Liability Partnership (LLP) is a unique type of business setup that blends a partnership’s and a company’s features. In an LLP, partners enjoy limited liability, similar to shareholders in a company, while also benefiting from the flexibility and simplicity of a partnership. This arrangement grants the LLP its legal identity, allowing it to take legal actions and be subject to legal actions separately from its partners.
LLPs have become popular among entrepreneurs in various industries because they shield partners’ assets and have more straightforward regulatory requirements than traditional corporations. The concept of LLP was introduced in India in 2008 and is governed by the Limited Liability Partnership Act, offering a dependable and adaptable option for businesses of all sizes.

LLP Registration Prerequisites and Eligibility Conditions

To qualify for the registration of an LLP company in India, you must adhere to the subsequent criteria:

Minimum of Two Partners: Establishing a Limited Liability Partnership in India necessitates a minimum of two partners, with no upper threshold on the maximum number of partners.

Designated Partners: Within the partnership framework, at least two selected partners are obligatory, and they must be natural individuals. At least one of these designated partners must also maintain residency in India.

Nomination for Body Corporate Partner If a body corporate assumes the role of a partner, the designation of a natural person must act as its representative.

Agreed Contribution: Each partner is required to contribute the shared capital of the LLP, as stipulated and agreed upon.

Minimum Authorized Capital: The LLP is mandated to possess an authorized capital of at least Rs.1 lakh.

Indian Resident Designated Partner: At least one designated partner of the LLP must hold a resident status in India.
By satisfying these prerequisites, you can progress with the registration of an LLP in India and avail the advantages bestowed by this business structure.

Government Fees / Cost for LLP registration:
For registration of Limited Liability Partnership, government fees are as below. Note that there are additional costs such as DIN application fees, stamp duties, LLP form filing fees as well:
★ Limited Liability Partnership whose contribution does not exceed Rs. 1 lakh Rs. 500/-.
★ Limited Liability Partnership whose contribution exceeds Rs. 1 lakh but does not exceed Rs. 5
lakhs Rs. 2000/-.
★ Limited Liability Partnership whose contribution exceeds Rs. 5 lakhs but does not exceed Rs. 10
lakhs Rs. 4000/-.
★ Limited Liability Partnership whose contribution exceeds Rs. 10 lakh Rs. 5000/-.
However, it may vary according to the stamp duties of respective states.
★ Solo Proprietorship

Who is a sole proprietor?

A sole proprietor is the sole owner of the proprietorship business. Hence, a business will be carried forward by making new bank account for the business and GST registration will be done by using PAN and Aadhar of the proprietor. The proprietor is completely responsible for all the assets and liabilities of the business.

How to check proprietorship status?

In India, we don’t have to register sole proprietorship. Hence, there is no platform to check the status of a sole proprietorship. However, if a proprietor has applied for GST registration, the GST registration and filing status of the proprietorship can be checked on the GST Portal to confirm the existence of the proprietorship.

Proprietorship legal entity status and recognition

There is no separate recognition of proprietorship as a separate legal entity. Hence, the business owner and the proprietorship are considered one and the same for all legal and official purposes.

Sole Proprietorship Firm Registration:
★ The government of India has not prescribed any sole proprietorship firm rules and regulation in India or there is no registration mechanism for Sole Proprietorship Firm registration.
★ Thus, the registration of a proprietorship can only be recognized through tax registrations that the business is required to have as per the rules and regulations.
★ These tax registrations may include GST Registration and/or SSI/MSME / Udyam Aadhar Registration that should be obtained in the name of the Proprietor to establish that the Proprietor.
is operating a business as a sole proprietorship.

Introduction to One Person Company (OPC)

One Person Company (OPC) registration in India was introduced as a concept under the Companies Act of 2013, enabling a single individual to establish a company and enjoy the combined benefits of both a sole proprietorship and a traditional company structure. This concept became available with the implementation of the Companies Act in 2013.
The primary objective behind creating one-person companies was to foster entrepreneurship and encourage the formalization of Micro, Small, and Medium Enterprises (MSMEs). According to Section 2(62) of the Companies Act 2013, a company can be formed with just one director and one member, and interestingly, these roles can be held by the same individual.

Eligibility Criteria

Before you go ahead and register a one-person company (OPC), it’s crucial to understand the specific eligibility criteria and limitations that govern its formation. The Companies Act sets out clear requirements that must be met to ensure that the individual promoting the OPC is eligible to do so.

Natural Person and Indian Citizen: Only a natural person who is an Indian citizen can establish an OPC. Legal entities like companies or LLPs cannot create an OPC.

Resident in India: The promoter must be a resident in India, meaning they should have lived in India for at least 182 days (about 6 months) during the previous calendar year.

Minimum Authorized Capital: The OPC must have a minimum authorized capital of Rs 1 00,000, the amount stated in the company’s capital clause during the registration.

Nominee Appointment: The promoter must appoint a nominee during the OPC’s incorporation. This nominee would become a member of the OPC in the event of the promoter’s death or incapacity.

Restrictions on Certain Businesses: Businesses involved in financial activities such as banking, insurance, or investments cannot be established as OPCs.

Conversion to Private Limited Company: If the OPC’s paid-up share capital exceeds 50 lakhs or its average annual turnover surpasses 2 Crores, it must be converted into a private limited company to comply with the regulatory requirements for larger companies.
It’s worth noting that an individual can establish only one OPC, and an OPC cannot have a minor as its member.

Public limited company
Public Limited Company Registration in India is administered by the Registrar of Companies India (ROC). We help you to register a limited company in India. Before registering a start-up company in India.
A ‘Public Company’ is a limited company formed with minimum of 7 members and 3 Directors. There is no restriction for Maximum number of members in a Public Company.
The name of the company should end with the words ‘Limited’. Subject to the compliance of the Companies Act, a company can issue shares to the public and can accept deposits from the public. Operations of public limited companies are subject to more stringent compliance of many of the restrictive provisions of the Companies Act.
Generally, companies that require huge capital investments opt to be registered as a Public Limited Company.
Features that make a Public Limited Company Different from Private Limited Company:
★ Shares offered by a public Ltd. Co. are easily transferable to any other person, such that it merely requires filing and signing of share transfer form to transfer the shares.
★ A Public Ltd. Co. is the highest corporate structure to start with.
★ In Public Limited Company shareholders have a claim to part of the company’s assets and profits.
★ Public Limited Company can have any number of members.
★ Shares are easily transferable in Public Limited Company.

Partnership:

Partnership Firms

A partnership stands as one of the fundamental structures for conducting business. It materializes when two or more individuals collaborate to establish a business venture, sharing profits according to an agreed-upon ratio. This form of business encompasses a broad spectrum of trades, occupations, and professions. A notable advantage is that partnership firms entail relatively fewer regulatory requirements than companies.

Law Governing the Partnership Firms Registration
In India, the operation of partnership firms is governed by the Indian Partnership Act of 1932. Those who unite to create a partnership firm are referred to as partners, and the formation of the partnership firm is based on a
contractual agreement among these individuals. The agreement among partners is commonly referred to as a “partnership deed.”

Partnership Deed

A partnership deed is a legal document that outlines the terms and conditions of a partnership. It includes details such as the rights and duties of partners, the distribution of profits, individual capital contributions, and the
partnership’s duration.

Partnership Firm Registration

Partnership registration involves the formal registration of a partnership firm by its partners with the Registrar of Firms. This process typically occurs in the state where the firm is located. It’s important to note that partnership firm
registration is not mandatory; it’s optional. Partners can choose to apply for registration at the time of forming the firm or later during its ongoing operations.
For partnership registration to take place, two or more individuals must come together as partners, agree on a firm name, and create a partnership deed.

Who Can Be a Partner in India’s Partnership Firms?

To become a partner in an Indian partnership firm, you need to meet these conditions:

Mental and Legal Fitness: You must be mentally sound, not underage, not insolvent, and not legally prohibited from making contracts.

Registered Partnership Firms: A registered partnership firm can partner with other firms or businesses.

Head of a Hindu Family: A Hindu Undivided Family (HUF) leader can be a partner if they contribute their own skills and labor to the partnership.

Companies as Partners: Companies, considered legal entities, can also be partners if their objectives permit it.

Trustees of Specific Trusts: Trustees of private religious, family, or Hindu trusts can partner unless their rules explicitly prohibit it.

What is a Limited Company in the UK?
The Limited Company is the company where the liability of members or subscribers of the company is limited to what they have invested or guaranteed to the company. The Limited Company is separate from
its owners and hence, it can enter into contracts in its name and the company will be responsible for its actions, finances and liability. Also, The limited company is considered as Legal person.
The Limited company in the UK can be incorporated at the Company house (UK registrar of companies).
There are two types of Limited Company that can be incorporated in the UK as follows:

Limited Company by shares: Limited by shares companies are owned by one or more shareholders and managed by one or more directors.

Limited Company by guarantee: Limited by guarantee companies are owned by one or more guarantors and managed by one or more directors.
In the UK, registering your business as a Limited company is very beneficial. However, the process of the formation of Limited Company is complex and hence requires to be handled carefully.

Minimum Requirement for starting an incorporation process for the Limited Company in the UK:
★ A name for the company
★ An address for the company – this can be any UK address
★ At least one director – this person does not need to be a UK resident
★ At least one shareholder – this can be an individual or another company

Required Documents:
★ Telephone number
★ National insurance number in case of Director is from UK
★ ID proof, Address proof and Tax ID proof in case of Indian National
&straf; Registered office – your company’s official address
★ Director information – name, date of birth, nationality, occupation, service address, residential address (Proof of the same)
★ Shareholder/Share information – name, number of shares held, currency of shares, value of shares (Proof of the same)
★ Copy of the Passport in case of non-resident
★ A copy of Driving License

Company Registration in USA
The USA is considered to be a world-class economy and first business hub. The US economy is nearly 20 trillion dollars which is nearly 14 times the size of the Indian economy. Hence, setting up a company in
the USA gives global class benefit. Further being a developed nation, rules and regulations for Company Registration in USA are much regularized, and corporate tax rates are much lower.
There are two types of companies that Indians may register in the USA. One is C- Corporation and the other is LLC.

C- Corporation (closely held corporation):
★ C-Corporations are an independent legal entity separate from the people who own, control and manage it.
★ Due to this recognition as an individual entity, it is viewed as a legal “person” in the view of tax laws.
★ It can be engaged in business and contracts, can initiate lawsuits and itself be sued.

LLC (Limited Liability Corporation):
★ LLC is a type of entity that has features of both a Corporation and a Partnership.
★ LLC provides the owners with limited liability protection in case of a lawsuit or bankruptcy.
★ LLCs are also operationally flexible and the compliance requirements for a LLC are simple.

Required Documents:
★ A Certified Copy of Passport
★ Existing Foreign Tax Id Number (Pan Card)
★ Original Voter I’D and Driving License (Incase Certified Passport is not available)

Subsidiary Company

A subsidiary company is often referred to as a sister company, while the company that exercises control over it is known as the parent company or holding company. The parent company holds the authority to control the
subsidiary company, either in part or entirely.
The registration process for an Indian subsidiary company is governed by the Companies Act of 2013. According to the Companies Act of 2013, a subsidiary company can be defined as a company in which a foreign corporate
body or parent entity holds a minimum of 50% of the total share capital. In essence, the parent company exerts a significant influence and control over the subsidiary company.

Types of Subsidiaries in India

In India, there are two primary categories of subsidiaries:

Wholly-Owned Subsidiary
In a wholly-owned subsidiary, the parent company possesses 100% ownership of the subsidiary’s shares. However, it’s important to note that wholly-owned subsidiaries can only be established in sectors that permit
100% Foreign Direct Investment (FDI).

Subsidiary Company
In this category of subsidiary, the parent company owns 50% of the subsidiary’s shares.
Before proceeding with the establishment of a subsidiary in India, obtaining approval from the Reserve Bank of India is a crucial prerequisite. This regulatory step ensures compliance with the country’s foreign investment
regulations and safeguards the interests of all stakeholders involved.

Company Registration By Foreigner
To register a business in India is a very quick and online process. There is a good number of advantages for foreigners to start a company in India. India is very good for business as India is the fastest growing
country and it is also 6th in growing international economy. Career focused youth to large amount of experienced specialists, support of the Government to business friendly laws attractive foreign policies
and skilled workforce are a few factors which helps easy company registration in India.
Requirements for Company Registration in India
Step1: Minimum 2 Directors
Step2: No Minimum Share Capital
Step3: Mininum 2 share holders
Step4: Business Place in India
Step5: Permissible Activity

What is Non-Profit Organization (NPO)?
A Non-Profit Organization means a trust, company, or other association of persons
★ established for a public purpose and
★ The income and property of which are not distributive to its members or office bearers except as reasonable compensation for services rendered.

In India, NGO is a term for all non-profit organizations including Trust, Society and Section 8 Company.

Trust: In Charitable Trust at least two people are required, there is no limit of maximum members

Society: In society, the minimum seven members are required to be the members

Section 8 Company: A non-profit Company can be registered under section 8 of the Companies Act with the Registrar of Companies.
Other names for such not-for-profit organizations are “Sangathan”, “Sangh”, “Sangam”. Income tax exemption is available for all non-profit

Benefits of registering an NPO:
★ Improves the credibility of the sector because NPOs can account for a public office.
★ Brings organizations into a formal system
★ Helps the sector to get organized.
★ Helps in finding ways of getting benefits like tax exemptions and funding opportunities.
★ Donations made by individuals to the nonprofit corporation may be tax-deductible

Nidhi Company Overview

Nidhi Companies are registered Limited Companies involved in taking deposits and lending to their members. The activities of a Nidhi Company does fall under the purview of Reserve Bank of India, as it is similar to an
NBFC. However, as Nidhi Companies ONLY deal with shareholder-members money, RBI has exempted Nidhi Companies from the core provisions of the RBI and other regulations applicable to an NBFC.

Restrictions on Nidhi Company

The following are some of the restrictions a Nidhi Company is subject to under Nidhi Rules, 2014. As per Rule 6 of Nidhi Rules, 2014, a Nidhi Company shall NOT:
2. carry on the business of chit fund, hire purchase finance, leasing finance, insurance or acquisition of securities issued by any body corporate;
3. issue preference shares, debentures or any other debt instrument by any name or in any form whatsoever;
4. open any current account with its members;
5. acquire another company by purchase of securities or control the composition of the Board of Directors of any other company in any manner whatsoever or enter into any arrangement for the change of its management, unless it has passed a special resolution in its general meeting and also obtained the previous approval of the Regional Director having jurisdiction over such Nidhi;
6. carry on any business other than the business of borrowing or lending in its own name: Provided that Nidhis which have adhered to all the provisions of these rules may provide locker facilities on rent to its members subject to the rental income from such facilities not exceeding twenty per cent of the gross income of the Nidhi at any point of time during a financial year.
7. accept deposits from or lend to any person, other than its members;
8. pledge any of the assets lodged by its members as security;
9. take deposits from or lend money to anybody corporate;
10.enter into any partnership arrangement in its borrowing or lending activities;
11.issue or cause to be issued any advertisement in any form for soliciting deposit: Provided that private circulation of the details of fixed deposit Schemes among the members of the Nidhi carrying the words “for private circulation to members only” shall not be considered to be an advertisement for soliciting deposits.
12.Pay any brokerage or incentive for mobilising deposits from members or for the deployment of funds or for granting loans

Nidhi Company Registration

To start a Nidhi Company in India, the first step is to incorporate a Limited Company, under the Companies Act, 2013. Hence, it requires a minimum of three Directors and seven shareholders to start the Limited Company
incorporation process. During incorporation of the Nidhi company, care must be taken to ensure that the object of the Limited Company mentioned in the Memorandum of Association is that of cultivating the habit of thrift
and savings amongst its members, receiving deposits from, and lending to, its members only, for their mutual benefit.
Post incorporation of the Limited Company, within a period of one year from the commencement, the Nidhi Company must meet all of the following criteria:
★ not have less than two hundred members (shareholders);
★ Have Net Owned Funds (NOF) of ten lakh rupees or more;
★ Have unencumbered term deposits of not less than ten per cent of the outstanding deposits; and
★ Have a ratio of Net Owned Funds to deposits of not more than 1:20.
“Net Owned Funds” means the aggregate of paid-up equity share capital and free reserves as reduced by accumulated losses and intangible assets appearing in the last audited balance sheet.
If the Nidhi Company satisfies the above conditions required for operating as a Nidhi Company, the company shall within ninety days from the close of the first financial year after its incorporation and where applicable,
the second financial year, file a return of statutory compliances in Form NDH-1 duly certified by a practising CA/CS/CWA along with the requisite fees.
In the case at the end one year from commencement the Nidhi Company is not able to meet the above requirement, the Company may within thirty days from the close of the first financial year, apply to the
Regional Director in Form NDH-2 for extension of time.
If even after the second financial year the Nidhi Company is not able to meet the requirements for a Nidhi Company, then the Nidhi Company shall not accept any further deposits from the commencement of the
second financial year till it complies with the provisions for operating as a Nidhi Company and be liable for penal consequences.

What is Producer Company?
A Producer Company is a company, formed with an objective of production, harvesting, procurement, grading, pooling, handling, marketing, selling, export of primary produce of the Members or import of
goods or services for their benefit. Term “Produce” means things that have been produced or grown, especially by farming. This means that, a Producer Company deals primarily with agriculture and post-harvest processing activities.

Conditions to form a Producer Company:
★ A Producer Company can be formed by 10 or more Individuals as producers.
★ Two or more producer institutions or a combination of 10 or more producers and producer institutions.
★ A minimum capital of Rs. 500,000 is required to incorporate a Producer Company.
★ The share capital of a Producer Company shall consist of equity shares only.
★ The shares held by a Member in a Producer Company, shall be in proportion to the backup of that company.
★ There should be minimum 5 directors and maximum of 15 directors in aProducer Company.
★ A full time chief executive (CEO) should be appointed by the board.
★ There is no maximum limit of the members
★ The Producer Company in India cannot be deemed as a public company.
&straf; There should be at-least four boards meetings every year and the meetings should not be held less than once every three months.

Who can become a Member in Producer Company?
★ A person being a “producer” or a “producer institution” (whether incorporated or not) can be admitted as member of Producer Company

Documents Required for Producer Company Registration
★ Photograph of all the Directors and Members
★ PAN Card of all the Directors and Members
★ ID Proof of all the Directors and Members (Driving License/Passport/Voter ID)
★ Electricity Bill or any other utility bill for the address proof of the Registered Office
★ Special requirement: Proof of farming in the form of 7/ 12 extracts of Agricultural Land or certificate from District Tahsildar (proof of farming will differ from state to state)

Startup India Recognition
Startup India is an Indian Government initiative that is intended to build a strong eco-system for nurturing innovation and startups in the country to drive sustainable economic growth and generate large scale
employment opportunities. Through this initiative, the government aims to empower Startups to grow through innovation and design.
The objectives of the Startup India Movement are outlined below. The action plan envisages supporting the startups and more:
★ Enhanced infrastructure, including incubation centres
★ IPR facilitation, including easier patent filing
★ The better regulatory environment, including the tax benefits, easier compliance, improved setting up of a company, fastest mechanism and more.
★ A goal to increase the funding opportunities
★ Provide a vast networking database for the entrepreneurs and other stakeholders in the startup ecosystem.

Eligibility Criteria

Period of Existence of Entity: The Period of existence and operations of the company should not exceed 10 years from the date of formation

Type of Entity: The DPIIT Certificate of Recognition is provided for the company which is incorporated as a Private Limited Company, a Limited Liability Partnership (LLP) or a Registered Partnership Firm.

Annual Turnover: To get the DPIIT Certificate of Recognition, The firm should have an annual turnover of Rs. 100 crore for any of the fiscal years since its federation

Original Entity: To avail the DPIIT Certificate of Recognition, the company should not have been incorporated by splitting up or recreating an already existing entity.

Innovative & Scalable Entity: The entity should be working towards development or improvement of a product, process or service.
The entity should have a scalable business model with high potential for the creation of wealth and employment. The firm should have the potential to generate employment or create wealth.

Procedure to get DPIIT Certificate

The entity should follow the below-mentioned simple steps to get the DPIIT certificate of recognition.
Get in touch with https://www.indiafilings.com/ to register your company.

Registering Business with the Startup India Scheme
The business needs to be registered with the Startup India Scheme to get the DPIIT certificate of recognition.

Apply for Start-up Recognition
The applicant unit need to access the Start-up India Recognition portal for Register with Start-up India to get the DPIIT Certificate of Recognition for Startups.
Provide the following details in the Start-up Recognition application :
★ Entity Details: Nature of Entity, Industry, Sector, Categories and Company Incorporation Number and Registration Date
★ Full Address of the Entity
★ Details of the Authorized Representative
★ Directors or Partner Details
★ Details of Intellectual Property Right
★ Details of funding
★ Recognition received by the entity
Benefits for DPIIT Recognized Startups
Self Certification
Start-Up Patent Application
Easier Public Procurement Norms
• The DPIIT recognized startups will get an opportunity to list the product on Government eMarketplace
• DPIIT recognized startups are exempted from submitting Earnest Money Deposit
• Exemption from Prior Experience/Turnover is provided for Start-ups in all Central Government ministries and departments.
Easy winding up of Company
Funds of Funds
Credit Guarantee fund
Tax Exemptions
• After obtaining the Certificate of Recognition, the startup can apply for Tax exemption under section 80 IAC of the Income Tax Act.
• The DPIIT recognized startups can apply for Angel Tax Exemption.
• After obtaining the clearance for Tax exemption, the DPIIT recognized startups are exempted from income tax for 3 consecutive fiscal years out of its first ten years since formation.

2.Registrations
★ Gst Registrations
GST is a single comprehensive tax on the supply of goods and services across India, right from the manufacturer to the Consumer. GST is applicable to the whole of India except the state of Jammu &
Kashmir. GST would be levied on Supply of goods and services or both and hence the present prevalent concepts of levy of Excise Duty on manufacture, VAT on sales, Central sales Tax on sales, Service tax on
services, Entry tax on entry of goods in local area would no longer be in existence.

Who is Liable for GST Registration?
Every person needs to get registered under GST in the state from where he makes taxable supply of goods and/or services, if his aggregate turnover in a financial year exceeds Rs.20 Lakhs (Rs.10 Lakhs in
North Eastern States including Sikkim)
Generally, the liability to register under GST arises when you are a supplier within the meaning of the term, and also your aggregate turnover in the financial year is above the Exemption threshold of Rs.20
lakh rupees. However, the GST law enlists certain categories of suppliers who are required to get compulsory registration irrespective of their turnover that is to say, the threshold exemption of 20 lakh
is not available to them.
The Following suppliers are required to obtain GST Registration compulsorily irrespective of the size of their turnover are:
★ Inter-state suppliers
★ A person receiving supplies on which tax is payable by recipient on reverse charge basis
★ Casual taxable person who is not having fixed place of business in the State or Union Territory from where he wants to make supply
★ Non-resident taxable persons who are not having fixed place of business in India
★ A person who supplies on behalf of some other taxable person (i.e. an Agent of some Principal)
★ E-commerce operators, who provide platform to the suppliers to supply through it
★ Suppliers who supply through an e-commerce operator
★ Those ecommerce operators who are notified as liable for GST payment under Section 9(5)
★ TDS Deductor
★ Those supplying online information and database access or retrieval services from outside India to a non-registered person in India.

GST Registration – Requirements

Process of GST Registration

Business Registration
Before obtaining the GST Registration, the required business entity registration is required to be obtained except the case of Sole Proprietorship, The business to be registered as Partnership
or One Person Company (OPC) or Limited Liability Partnership (LLP) or as Private Limited company. Sole Proprietorship does not require any specific registration before obtaining GST Registration.

Business PAN
Obtain PAN for the business. PAN is must for registering under GST. In case of sole proprietorship, the PAN of Individual is enough

Opening Current Account
A current Account is required to be opened and the details of Current Account Number and Bank details are mandatory for obtaining GST Registration.

Online Application to ww.gst.gov.in
Submit application online at ww.gst.gov.in with documents required for GST Registration

Obtaining Application Reference Number (ARN)
On successful filing of Application, an Application Reference Number (ARN) will be generated by the GST Portal. With the ARN, we can track

Generation of User ID and Password at ww.gst.gov.in
Once Registration is approved, generate a user id and Password at GST Portal

Download the GST Registration Certificate
GST Registration Certificate can be downloaded from GST Portal

Documents Required

Business Registration
The following are the documents for GST Registration
★ Incorporation Certificate Company / LLP
★ PAN of Company / LLP
★ Cancelled Cheque Leaf with Company name / Bank Statement

Directors / Promotes
★ PAN and Address Proof of all the Promoters
★ Photograph of all the Promoters / Directors (jpeg format)
★ Authorization letter to the Primary Signatory
★ Digital Signature Certificate Authorized Signatory / Signatories

Business Address Proof
★ Electricity Bill or Tax Paid Receipt with the address and NOC From the Owner of Premises / Rental Agreement (Commercial Purpose) in Business Name

GST Registration

Business Registration
Business to be registered as Partnership or Company or Limited Liability Partnership (LLP). Sole Proprietorship does not require any business registration.

Business PAN
Obtain PAN for the business. In case of sole proprietorship, the PAN of Individual is enough

Current Account
Current Account details of Business are mandatory for obtaining GST Registration.

Address Proof / Rental Agreement
Electricity Bill or Tax Paid Receipt with the address and NOC From the Owner of Premises / Rental Agreement (Commercial Purpose) in Business Name
PAN Application:
Permanent Account Number (PAN) is a ten-digit alphanumeric number, for eg. AAAAA0000A, issued in the form of a laminated card, by the Indian Income Tax Department, to any “person” who applies for it or
to whom the department allows the number without an application.

Procedure for PAN Application
★ Online application of PAN can be made on the NSDL website OR UTIITSL website.
★ Upon the receipt of documents, PAN application is processed by NSDL and PAN is issued.
★ Submit the PAN card application Form 49A available on the NSDL.
★ Payment of application fee can be made through credit/debit card, demand draft or netbanking.
★ Once the application and payment are accepted, the applicant is required to send the supporting documents through courier/post to NSDL.
★ Upon the receipt of documents, PAN application is processed by NSDL and PAN is issued.
GST Modifications:
After receipt of GST Registration Certificate, if you wish to modify any fields such as name, address, email ID, contact details, you need to apply for GST Modification request.
GST Modification is divided into two parts: Core Fields and Non-Core Fields. Core Field changes require supporting documents to be attached while applying. Non-Core Fields can be updated without submitting
any proofs.
TAN
TAN i.e. Tax Deduction and Collection Account Number is a 10 digit alphanumeric number, e.g. DELM12345L, required to be obtained by all persons who are responsible for deducting tax at
source or collecting tax at source. It is compulsory to quote TAN in TDS/TCS return (including any e-TDS/TCS return), any TDS/TCS payment challan, TDS/TCS certificates, Annual Information
Return and other documents as may be prescribed.
IEC:
Importer Exporter Code (IEC) is a unique 10-digit code issued by the Director General of Foreign Trade (DGFT), Ministry of Commerce, Government of India.
Importer Exporter Code (IEC) is mandatory for export/import from/to India. No person or entity can make any import or export without IEC number. DGFT has recently introduced the facility of issuing
Importer Exporter Code in electronic form (e-IEC).
If there is any change in the particulars of a company, changes in directors, change of address, an application has to be made to the Director General of Foreign Trade to effect such changes in the IEC
Records/Certificate. Processing of would be done online and a digitally signed e-IEC would normally be issued/ e-mailed to the applicant within 2 working days on submission of all required particulars and
documents.

Process for obtaining Import Export Code (IEC)

Business Registration
Business to be registered as Company / LLP / Partnership. In case of Proprietorship, there is no registration required.

Apply for Business PAN
Company / LLP PAN is must for applying IEC in the name business. In case of proprietors, the individual PAN is sufficient.

Current Account
Open a Current Account in the name of the business. Details of Current Account and copy of Cheque leaf with name of the business is required for making an application for IEC.

Online Application for IEC with Digital Signature
Application for IEC is required to be filed online with copy of all required documents. On verification and approval of application, the department will issue the IE Code to the applicant.

Documents Required

Business Details
★ PAN of the business /Individual in case of Proprietorship firms
★ Business Registration Details
★ Current Account details and Cheque leaf

Details of the Proprietor/ Partners/ Directors
★ PAN of All Directors / Partners
★ Name / Address /DIN of Directors
&satrf; Digital Signature of the Applicant

Import Export Code (IEC)

Copy of PAN Card
Copy of PAN is the primary requirement for filing application for IEC

Current Account Details
The Applicant to provide Current Account Details and Copy of Cheque leaf with Business name.

What is ESI registration?

The employee state insurance (ESI) is managed and regulated by the Employee State Insurance Corporation which is an autonomous body under the Ministry of Labour and Employment, Government of India. The ESI
scheme was started for the Indian Employees that provided monetary, medical, and other benefits from the employer to the employee.
Currently any factor or employment or any establishment that has employed over 10 employees with a minimum salary of Rs. 21,000 has to mandatorily register itself with the ESIC.

Eligibility

Who is eligible to obtain ESI registration in India?
To be eligible for ESI registration is to have more than 10 workers. In some regions, ESI registration is possible for establishments only if there are more than 20 employees. Here are some other criteria that need to be
satisfied for obtaining ESI registration.
★ An employee whose gross salary is up to Rs. 21,000 per month can avail of this with the help of the employer.
★ The establishment is registered with the EPFO.
★ The total contribution to ESI is 6.5% of the gross salary and it can be further divided as:
★ 4.75% by the employer
★ 1.75% of the employee
★ For industrial units where there are chances of occurrence of injury or health issues all the employees with a salary less than Rs.21,000 compulsorily need to get ESI registration.

Documents required for obtaining ESI registration

For obtaining ESI registration in India here is the list of documents that is to be submitted by the employer along with the application:
★ Registration Certificate of the Shops and Establishment Acts.
★ Factories Act
★ Address proof of Principal place of business
★ Copy of PAN Card
★ Bank statement (Latest)
★ Memorandum and Articles of Association or the partnership deed or trust deed depending on the nature of the entity.
★ Certificate of Commencement registration no
The monthly pay sheet is also required for computing the contribution amount for each employee for ESI filings.

Definition of Factory under ESI Act

A Factory is any premise where ten or more than ten persons are employed or were employed for wages on any day of the preceding twelve months, and, in any part of which a manufacturing process is being carried
with or without the aid of power. In case within the same premises of a factory, several departments are situated and the departments are engaged in the work in connection with or incidental to a manufacturing process of the factory, they would fall apart from the factory.
This definition of a factory under the ESI includes a seasonal factory that is working for a period of not exceeding seven months in a year and is engaged during that period in any process related to blending, packing, or
repacking of tea or coffee or other manufacturing processes that are process notified by the central government.
Mines are not included in this definition under the definition, subject to the operation of Mines Act,2952 or a railway running shed.
Hence, if the number of persons working in the factory premises is ten or more the premise is factory irrespective of the consideration of whether they are paid wages or not. Also, all people working in the factory
need not be employed in the manufacturing process.

Definition of Establishment under ESI Act

Under the ESI Act, an establishment is an organized body of men or women or an institution, It is not necessary for an establishment confined to a particular premise or place. If an establishment employs 20 or more persons,
it will be required to obtain ESI registration in India. Hence, the establishments employing less than 20 employees who are drawing less than Rs.21,000 a month as a wage should not get ESI registration.
Shops must also be registered under the ESI Act. The supreme court has defined a shop as any premises where economic activities leading to sale or purchase are carried on. Thus, the essential ingredient for determining a
shop is that services are rendered to the customer. So service providers like advertisement agencies, liaison offices, consultancy services, real estate services will need to get ESI registration in India.
In this educational institution, hospitals, dispensaries, offices of auditors and solicitors, chartered accountants, and private commercial hospitals are excluded.

Benefits of ESI registration in India

What are the advantages of getting ESI registration in India?
ESI registration allows the employees to enjoy a lot of benefits under the Employees State Insurance corporation scheme.

Medical Aid- From the very first day of employment the registered ESI members and the family members enjoy the benefits of complete medical care and insurance. Retired members and permanently disabled insured
persons and their spouses can also avail medical care on payment of an annual premium of Rs.120.

Maternity benefit- Pregnant women can avail of maternity benefits that are payable up to twenty-six weeks. This maternity leave period can be extended on medical advice by 30 days at the rate of full wage subject to
contribution for 70 days in the preceding year.

Disablement benefit- From the day of the employees irrespective of having done any contribution, 90% of the wage is payable as long as the temporary disability continues. Permanent disablement benefit is payable at
90% of the wage as a monthly payment.

Sickness benefits- Absent at work due to illness is allowed for a maximum of 91 days per year along with 70% of the monthly wages.

Dependent benefits- In case of the sudden demise of an employee during the employment, the dependents of the deceased employee will receive 90% of his or her monthly salary.

Funeral expenses- The family members of the deceased employees are entitled to an additional amount of Rs.10,000 for the funeral expenses.

Confinement expenses- Confinement expenses can be availed in case of confinement of an insured woman or wife of the employee with no medical facilities under the ESI scheme.

Here are some need-based benefits:

Vocational Rehabilitation: Permanently physically challenged employees who are insured are entitled to vocational rehabilitation training at VRS.

Physical Rehabilitation: Can be availed by the employees in case of physical disablement or injury or hazards due to employment.

Old Age Medical Care: By the annual payment of Rs.120 medical care benefits can be availed for the ESI employees or for those who are opting for VRS/ERS. The members who retiring on account of permanent disability can also avail themselves the same.

Extended Sickness Benefits: Insured employees who are suffering from chronic diseases can avail of the extended sickness benefit up to 2 years, the sick leave of 91 days should be expired.

Enhanced Sickness Benefit: Enhanced sickness benefit was an encouragement measure for ESI employees to undergo vasectomy or tubectomy for the welfare of the family. Extension of this benefit can be availed in case there are post-operative complications.

Digital Signature Certificate Online
A Digital Signature Certificate (DSC) is a cryptographically secure key issued by certifying authorities (CAs) to validate and verify the identity of the person who holds this certificate. DSCs are predominantly issued and
utilized when businesses need to digitally sign documents online, securely authenticate the Signature, and validate the signed copy.
DSC is a statutory requirement for submitting various forms to the Government of India. DSC uses public-key encryption for the creation of a signature. A digital signature certificate will be embedded in electronic
documents, emails, and other digitally transmitted documents. These signatures provide and enhance security using encryption technology.
The Controller of Certifying Authority issues Digital Signature Certificate in India. The Office of the Controller of Certification Agencies (CCA) has given authority to 8 Certification Agencies to give DSCs to persons seeking
the same. EMudhra is one of the Certifying Authorities that issue the Digital Signature Certificate in India.
IndiaFilings can help you obtain an eMudhra Class 3 Digital Signature certificate in India with a validity of 2 years and a secure USB token. No need to submit your documents manually or through a courier because the
application process will be completely online. All the Digital Signatures are provided with a FIPS-compliant ePass USB token to protect the Signature until the end of validity.

Class 3 Digital Signature Certificate

Class 3 DSC is the most secure certificate with a signature and encryption certificate. IndiaFilings will help you get the Class 3 DSC with an encryption certificate and a USB token; it can use for encryption and signing. A
signature certificate is used to sign a document, while an encryption certificate is used to encrypt the data. Class 3 DSCs will be issued to individuals and companies/organizations.
Class 3 Digital Signature can use for many purposes such as MCA e-filing, Income Tax e-filing, e-Tendering, LLP registration, GST application, IE code registration, Form 16, Patent and trademark e-filing, Customs e-filing, eProcurement, e-Biding, e-Auction and more.

Class 3 DSC for Individual

IndiaFilings can help individuals to obtain Class 3 Digital Signature with ePass Token. The authorized person can attach DSC to documents that are submitted electronically. It guarantees the confidentiality and validity of
electronically supplied records.

Class 3 DSC for Company/Organization

Class 3 DSC is valid for companies, NGOs, trusts, government departments, and organizations. IndiaFilings can help you obtain an eMudhra Class 3 Digital Signature certificate in India with two-year validity and a secure
USB token.
DSC will be issued in the Company’s name; this proves the user’s right on behalf of a company and contains personal and Company details. Class 3 DSC for Company is issued to authorize the signatory of any company.

Renewal of Class 3 DSC

According to Controller of Certification Agencies (CCA) guidelines, renewing Digital Signatures requires fresh identity verification. You can renew your Class 3 DSC by following the same process as buying a new Digital
Signature Certificate on the IndiaFilings website.
★ You can apply for DSC renewal through our website once it is expired or before the expiry date.
★ Pricing for renewal remains the same as buying a new DSC through our website.

What is DIN?
DIN number or Directors Identification Number is a unique identification number provided by the Ministry of Corporate Affairs to an individual who intends to be a director of a company in India.
DIN number or Directors Identification Number of a director is a unique 8-digit number which allows a person to legally act as a Director of a company. The DIN number is granted only one time to a person and
an individual acting as the Director of multiple companies does not require to obtain multiple DINs to act as a director in those companies.

Rules for obtaining DIN:
★ In the case of new companies, first Directors up to number of 3 can apply for a DIN number only through the SPICe plus Form.
★ In the case of already existing companies, the Directors can apply for a DIN number only through the DIR-3 Form.
★ In case of already existing companies, the applicant director must attach a signature of any existing company director wherein he wants to get added.
★ For E.g. Mr. Manoj wants to apply for DIN wherein he wishes to be a director in ABC company. Here, Mr. Manoj will require a board resolution of “ABC’ company along with the digital signature of any of the existing director of ABC company.

Validity of DIN:
★ Once the DIN number is given to a Director, it does not require any reactivation or renewal and has lifetime validity.
★ However, the MCA may deactivate or disqualify the Director if the Director or the company is in violation of any of the laws or, its guidelines or notifications.

Who is eligible to get EPF registration?

For Employer
PF Registration is mandatory for all the establishments-
★ That has engaged 20 or more than 20 people.
★ For any other establishment that has less than 20 people then the central government has to specify the same in the notification on the behalf.

For Employee
Employees drawing less than Rs.15000 per month need to mandatorily become members of the EPF. According to the guidelines, employees whose basic pay is more than Rs. 15000 a month at the time of joining are not
required to make any PF contributions.
But an employee who is drawing pay of more than Rs.15,000 can still be a member and make contributions with the employer and the Assistant PF commissioner.

The amount for the contribution of PF
The employer has to obtain the PF registration within 1 month of attaining the strength, in case of failure to abide by applicable penalties. A registered establishment continues under the purview of the Act even in case
the No of employees falls below the required limit.
The employer has to contribute 12% of the (Basic Salary + Dearness Allowance + Retaining Allowance). An equal amount of contribution is to be made by the employee. If the establishment has engaged less than 20
employees the EPFO rules state that the contribution rate for both the employees and the employer is limited to 10 %. In most cases the employees who are employed in the private sector it is on the basic salary on which
the whole contribution is calculated.

The breakup of the PF contribution
★ The 12 % contribution is divided into the following subdivision:
★ 3.67% of the contribution towards the Employees Provident Fund
★ 1.1% of the contribution towards the EPF administration Charges
★ 0.5% of the contribution towards the employee’s deposit linked insurance
★ 0.01% contribution towards the EDLI administration charges
★ 8.33% towards the Employees Pension Scheme.

What is the Employees Pension Scheme?
8.33% of the employer’s contribution is routed towards the Employees Pension Scheme that is calculated at Rs.15,000. The amount routed to the Employee Pension Scheme would be Rs.1250 in case the basic pay of the
person is Rs.15,000. If the Basic Pay is less than Rs.15,000 then 8.33% of the amount will be routed and the balance will be retained in the EPF scheme. On superannuation, the employee would receive the full share with
the employer’s share reserved for credit in the EPF account.

Documents Required for Registration

The employer has to attach the following documents with the registration form:
13. PAN of the Partner, Proprietor, or the Director
14. Address proof (can be any utility bill but should not be older than 2 months)
15. Aadhar card of Proprietor, Partner, or Director.
16. Canceled Cheque Or Bank Statement
17. Digital Signature of the Proprietor/ Partner or Director.
18. Hired/ Rented or Leased Agreement If there is any.

EPF charges

★ The contribution is rounded to the nearest rupee for each of the employees for the employee share, the contribution towards pension, and the EDLI contribution.
★ The employer share is the difference between the employee Share and the pension contribution.
★ The monthly payment amount towards the EPF administrative charges is rounded to the nearest rupee and a minimum of Rs.500 is payable.
★ In case the establishment has no member in the month the minimum administrative charges applicable will be Rs.75.
★ The monthly payment amount under the EDLI administrative charges is rounded to the nearest rupee and a minimum of Rs.200 is payable.
★ In case the establishment has no member in the month, the payable minimum administrative charge is Rs.25
★ Suppose the establishment is exempted from the PF scheme inspection charges of 0.18% ( Minimum Rs 5 ) is payable in place of the admin charges
★ In case the establishment is exempted under the EDLI scheme. The inspection charges of minimum Rs.1 @0.005% are payable in place of the administrative charges.
SSI/MSME/Udyog Aadhar Registrations:
Udyam Registration or MSME Registration is the new process for registering MSME (micro, small and medium enterprises) launched by the Ministry of Micro, Small & Medium Enterprises on July 1, 2020. The Ministry had
also revised the definition of MSMEs from the same date. An enterprise for this process is known as Udyam, and its Registration Process is known as Udyam Registration. A permanent registration number along with a
recognition certificate will be issued after Registration.
The Udyog Aadhaar registration has been transformed to the Udyam registration since July 2020. Udyam registration has made the process more accessible than it was earlier, at the time of Udyog Aadhaar
registration. Udyam registration is essential for availing the various benefits of schemes or programs of the Ministry of MSME, such as the Credit Guarantee Scheme, public procurement policy, additional edge in
Government Tenders and protection against delayed payments, etc.

Udyam Registration Benefits

The Udyam Registration is a simple process and there is no need to handle the paperwork for obtaining Udyam Registration. Having Udyam Registration for your venture entitles your Business to the following benefits:
★ Special Preference in Procuring Government Tender
★ Udyam registration will help to get the bank loans without Collateral/ Mortgage. 1 % percent Exemption on the interest rate on Bank Overdraft (OD)
★ There are various tax rebates available for Udyam registered enterprises.
★ Higher preference is provided to businesses registered under Udyam for government license and certification.
★ Registered Udyam gets tariff subsidies and tax and capital subsidies
★ Concession in Electricity Bills
★ It gives protection against the delay in payment from Buyers
★ Tax Rebates
★ Special 50% discount on Government fees for Trademark and Patent filing
★ Fast Resolution of Disputes

What are Udyog Aadhar Fees?
The Registration for MSMEs under Udyam Registration Portal is entirely online, and there is no fee for MSME registrations. It is free of cost.
The registration process can be tedious and time-consuming, but we can help you make it easier. With our assistance, you can quickly get your Udyog Aadhar/Udyam Registration done with minimal effort and hassle.

Who is eligible to apply for MSME registration?
MSME registration can be obtained by the following entities that fulfill the revised MSME classification criteria of annual turnover and investment:
★ Individuals, startups, business owners, and entrepreneurs
★ Private and public limited companies
★ Sole proprietorship
★ Partnership firm
★ Limited Liability Partnerships (LLPs)
★ Self-Help Groups (SHGs)
★ Co-operative societies
★ Trusts
These entities involved in the following activities are eligible for Udyam registration:
★ Manufacturing Enterprises
★ Service Enterprises
★ Small retailers or wholesalers

SSI Registration Eligibility Criteria
SSI registration can be obtained for manufacturing units if the investment in plant and machinery (excluding land & buildings) is within any of the following levels:
★ Micro Enterprises: Investment of up to Rs.25 lakhs in plant and machinery
★ Small Enterprises: Investment of up to Rs.5 crores in plant and machinery
★ Medium Enterprises: Investment of up to Rs.10 crores in plant and machinery
SSI registration can be obtained for service rendering units if the investment in equipment (excluding land & buildings) is within any of the following levels:
★ Micro Enterprises: Investment of up to Rs.10 lakhs in equipment
★ Small Enterprises: Investment of up to Rs.2 crores in equipment
★ Medium Enterprises: Investment of up to Rs.5 crores in equipment

Benefits of obtaining SSI Registration
SSI registration is not a mandatory requirement for a small business in India. However, businesses that have SSI registration can avail some benefits, incentives or support given either by the Central or State Government.
Some of the incentives offered for SSI businesses include:
★ Priority sector lending in Banks
★ Reduction in bank loan interest rate
★ Excise exemption scheme
★ Exemption under direct tax laws
★ Statutory support such as reservation
★ Interest on Delayed Payments Act

What is GST return filing?

Businesses that are registered under GST have to file the GST returns monthly, quarterly, and annually based on the business. Here it is necessary to provide the details of the sales or purchases of the goods and services
along with the tax that is collected and paid. Implementation of a comprehensive Income Tax System like GST in India has ensured that taxpayer services such as registration, returns, and compliance are in range and
perfectly aligned.
An individual taxpayer filing the GST returns has to file 4 forms for filing the GST returns such as the returns for the supplies, returns for the purchases made, monthly returns, and the annual returns.
GST return filing in India is mandatory for all the entities that have a valid GST registration irrespective of the business activity or the sales or the profitability during the period of filing the returns. Hence, even a dormant business that has a valid GST registration must file the GST returns.
GST return is a document that contains the details of all the income or the expenses that a taxpayer is required to file with the tax administrative authorities.

Eligibility Criteria

Who should file the GST returns?
GST Return filing in India is to be done by the following:
★ A person having a valid GSTIN has to compulsorily file the GST returns.
★ Also, a person whose annual turnover is crossing Rs. 20 lakh has to obtain a GST registration and file the GST returns mandatorily.
★ In the cases of Special states, the limit for the annual turnover is Rs.10 lakh

Due dates for filing the GST returns

Who should file the GST returns?
What are the due dates for filing GST returns?
GSTR 1: The 11th of Subsequent of that month
GSTR 3B: The 20th of that subsequent month
CMP 08: 18th of the month succeeding the quarter of the specific fiscal year.
GSTR 4: 18th of the month succeeding the quarter.
GSTR 5: 20th of the subsequent month
GSTR 6: 13th of the subsequent month
GSTR 7: 10th of the subsequent month
GSTR 8: 10th of the subsequent month
GSTR 9: 31st December of the Fiscal year.
GSTR 10: Within 3 months of the date of cancellation or the date of cancellation order whichever is earlier.
GSTR 11: 28th of the month that is following the month for which the statement was filed.

What is TDS Return?
The TDS stands for tax deducted at source. As per the Income Tax Act, any company or person making a payment is required to deduct tax at source if the payment exceeds certain threshold limits. TDS has to
be deducted at the rates prescribed by the tax department and TDS Return needs to be filed in appropriate TDS Return Forms.

Types TDS return forms:
TDS return Form 24Q: Statement for tax deducted at source from salaries
TDS return Form 26Q: Statement for tax deducted at source on all payments other than salaries.
TDS return Form 27Q: Statement for tax deduction on income received from interest, dividends, or any other sum payable to non residents.
TDS return Form 27EQ: Statement of collection of tax at source.
PF Returns:

Provident Fund:

PF Return: Provident fund return must be filed by all entities having PF registration every month. PF return is due on the 25th of each month. Further, a final PF return is due on the 25th
of April for the year ended on 31st March.

PF Payment: Provident Fund (PF) payments are due on the 15th of each month. The employer must deposit a total of 12% or 10% of the employee wages towards PF on or before this date
every month. For most entities, the PF rate of 12% would be applicable.

UAN: The Employee Provident Fund has launched the Unified Portal to streamline and simplify all aspects of provident fund for both employers and employees. Employees who have the
newly allotted UAN can use the Unified Portal for various services.

Due date for Filing PF Returns:
★ The due date for Monthly Challan remittance to Bank for PF is 15th of Every Month
★ The due date for Monthly PF returns is 15th of subsequent month
★ The due date for yearly returns is 30th April every year.

What is ITR?

An Income Tax Return (ITR) is a document used by taxpayers to report details about their income earned and the corresponding tax liability to the income tax department. It serves as a formal declaration of an individual
or entity’s financial information, ensuring transparency and compliance with tax regulations.
The ITR landscape includes seven different forms: ITR-1, ITR-2, ITR-3, ITR-4, ITR-5, ITR-6, and ITR-7. Each taxpayer is required to file their ITR on or before the specified due date. The choice of ITR form depends on
factors such as the sources of income, the amount of income earned, and the taxpayer’s category, which can include individuals, HUFs (Hindu Undivided Families), companies, and more.
TDS RETURN REVISE:
TDS Return is required to be filed by any person who is liable to deduct tax at source. A TDS Return is a quarterly statement which has to be submitted to the Income Tax Department of India. Submitting TDS
Return is mandatory if you are a diductor. It should contain all details of TDS deducted and deposited by you for a particular quarter.
You may need to file TDS correction or TDS revision if you have wrongly shown any details in original TDS Returns. Such mistakes can be wrong PAN, wrong date, or short or no tax deduction. In all such cases, in
order to ensure seamless credit to the person whose TDS is deducted, you should revise your TDS Return.
You may also need to revise your TDS return if you have short paid any TDS and received any notice from income tax department. It should be noted that only by paying short deducted TDS, your work is not over.
This has to be given effect through a correctly filed TDS statement.
TDS return may be corrected as many times as needed. There is no due date by which a TDS return has to be revised. Hence, as soon as an error is discovered, you should file a correction return.
Documents Required
★ Your TAN
★ Challans of TDS Payment
★ Details of Deduction
★ Ack Receipt of Original Return
ESI RETURNS FILLINGS:
Employee’s State Insurance(ESI) is a self-financing social security and health insurance scheme for Indian workers. ESI Registration is mandatory for employers having 10 or more employee. For all employees earning
Rs.15,000 or less per month as wages, the employer must contribute 4.75% and employee must contribute 1.75% towards ESI. The ESI fund is managed by the ESI Corporation (ESI) according to rules and regulations
stipulated therein the ESI Act 1948, which oversees the provision of medical and cash benefits to the employees and their family through its large network of branch offices, dispensaries and hospitals throughout India. ESI is
an autonomous corporation under Ministry of Labour and Employment, Government of India.
All employers having 10 or more employees are required to be registered with Employee State Insurance (ESI) Corporation. Those entities having ESI Registration must then file ESI returns. ESI returns are due half-yearly.
WE can help file ESI returns for your business.
Private limited company Annual ROC
Every company registered in India, including private limited, limited company, one person company and section 8 company must file annual returns with ROC every year. It requires conducting of an Annual General Meeting
and filing annual accounts with ROC. AGM must be held within 6 months from the end of the financial year i.e. 30th September every year. In case of new companies, first AGM should be held within 18 months from the
date of incorporation or 9 months from the close of financial year whichever is earlier. Companies Act 2013 mandates that your financial year should start from 1st April and end on 31st March.
Annual return consists of information and documents that include the Balance Sheet of the Company, Profit & Loss Account, Compliance Certificate, Registered Office Address, Register of Member, Shares and Debentures
details, Debt details and information about the Management of the Company. The annual return would also disclose the shareholding structure of the Company, changes in Directorship and details of transfers of
securities.

LLP Annual Filing Compliances?
LLP are separate legal entities; therefore, it is the responsibility of the Designated Partners to maintain a proper book of accounts and file an annual return with the MCA each financial year.
LLP form 11, Form 8 & Income tax return are main compliances.

LLP Annual Filing Forms:

Form 11:
Form 11 is a statement of annual return. Every LLP is required to file Annual Return in Form 11 to the Registrar within 60 days from the closure of financial year i.e. Annual Returns have to be
filed on or before 30th May every year.

Form 8:
Form 8 is a statement of accounts. Every LLP is required to prepare and close its accounts until the 31st March every year. From 8 is to be filed by at least two Designated Partners with the
Registrar within 30 days after completion of six months of Financial Year i.e. 30th October every year.
Late filing of such forms entail penalties of Rs. 100/- per day of default.

What is a Public Limited Company?
★ A Public Limited Company is a company that offers shares to the general public and has limited liability.
★ Moreover, Public Limited Company is required to publish its true financial status to its shareholders.

Annual Return of the Public Limited Company
★ The Public Limited Companies are undoubtedly required to make the largest number of compliances every year, as compared to those by all other types of companies.
★ Every Public Limited Company in India mandatorily required to file annual filling every year as per the Companies Act, 2013.
★ The Public Limited Company needs to file the Balance Sheet, P&L Account and other documents with MCA.
★ The Annual Return is totally different from the income tax department and it’s governed by Ministry of Corporate Affairs.
Documents Required
★ Balance sheet
★ Consolidated financial statements
★ Directors report
★ P&L Account
★ Details of the Members
★ Details of Directors and Secretarial Certificate (if applicable) & other necessary documents

OPC Filings?
Every company registered in India, including private limited, limited company, one person company and section 8 company must file annual returns with ROC every year. OPC is required
to hold an annual general meeting, and annual accounts with ROC is required. Companies Act 2013 mandates that your financial year should start from 1st April and end on 31st March. As far
as the OPC Annual Filings (OPC Annual Compliances) are concerned, these are just fewer as compared to those required by a private or public limited company.

Usually, a company is required to file three forms with ROC:

ROC Form MGT 7: which contains details of shareholding structure, change in directorship and details of the transfer of shares during the year if any. The due date for ROC Form,
MGT 7 would be 28th November. As One Person Company does not require to hold AGM, the due date for filing Form MGT 7 shall be 60 days from the completion of the 6 months
from the end of the financial year.

ROC Form AOC4: which contains details and annexures relating to the Balance Sheet of the Company, Profit & Loss Account, Compliance Certificate, Registered Office Address,
Register of members, Shares and Debentures details, and Debt details and information about the Management of the Company. The due date for ROC Form AOC 4 would be 180
days from the close of the financial year. That means the due date for AOC 4 for OPC shall be 27th September. (If we count 180 days from 1st April).

ROC Form ADT 1: is filed for auditor appointment. The due date for ROC Form ADT 1 would be 14th October i.e within 15 days from the conclusion of AGM.

What is a Non-Profit Organization / Non Government Organization?
★ A Non-Profit Organization means a trust, company or other association of persons, that is established and incorporated for a public purpose.
★ The income and property of such organization are distributive neither to its members nor to office bearers except as reasonable compensation for services rendered.
★ In India, NGO includes all kinds of Non Profit Organization i.e. Trust, Society and Section 8 Company.
★ In a Charitable Trust at least two people are required, there is no limit of maximum members.
★ In society, a minimum of seven members are required to be members.
★ A non-profit Company can also be registered under section 8 of the Companies Act with the Registrar of Companies.
★ Other names for such not-for-profit organizations are “Sangathan”, “Sangh”, “Sangam”. Income tax exemption is available for all non-profit NGOs.

Annual Compliance of NPO / NGO / Section 8 Company
Section 8 Company is registered under the Companies Act, 2013. Hence the Section 8 Company has to comply with the Compliance mentioned in the said act for the companies. It is necessary
for the Section 8 Company to follow the compliances prescribed by the Ministry of Corporate Affairs.
Documents Required
★ Article of Association of the company
★ Memorandum of Association of the company
★ DSC or Digital Signature Certificate
★ Certificate of Incorporation of Section 8 Company

Nidhi Company Annual FIling:
Nidhi Company is required to file returns twice a year and yearly returns once with ROC every year. Apart from this Nidhi Company is also required to file its Financial Statements in Form AOC
4 and Annual Return in form MGT 7 annually with ROC.

Following are the forms required to be filed by Nidhi company every year with ROC:
★ Form NDH 1
★ Form NDH 3
★ MCA Form MGT 7
★ MCA Form AOC 4

Producer Company Filings:

Annual Compliance of the Producer Company
★ Annual Compliance refers to specific forms that the Companies are required to file with the Registrar of the Companies during a year.
★ Be it any type of company, to be adhere to the Annual ROC Compliance is mandatory.
★ The Producer Company needs to file the Balance Sheet, P&L Account and other documents with MCA.
★ Hence, being a Producer Company, you need to file your Annual Compliance Forms correctly on a regular basis in order to ensure that your company gets good legal standing.
The Following are the main annual compliance for a Producer Company.
1. Hold Annual General Meeting each financial year.
2. Audit balance-sheet and profit and loss accounts of the Producer Company.
3. File annual Return.
Documents Required
★ Memorandum of association
★ Article of association
★ Directors identity proof
★ PAN cards of the directors
&straf; Balance sheet
★ Consolidated Financial Statements
★ Director’s Report
★ Profit and Loss Account
★ Details of the Members / Producer

What is a Trust?
A trust is a legally formed organization where the owner is the trustor and beneficiary is the trustee. The main purpose of forming a trust is to ensure an effortless transfer of the property of
the owner of the trust in the name of the beneficiaries (trustees) as per the provisions mentioned in the trust deed. All the registered trusts in India are governed by the Indian Trust Act 1882. The
registered trusts in India, hence, shall have to adhere to the legal provisions of the said Act.

Types of Trust in India

Public Trust
A Public Trust is an organization created to benefit the public in general or different classes of people and is not restricted to a selected group of people. A trust created with a charitable or
religious purpose shall be called Public Charitable Trust.

Private Trust
A Private Trust is an organization which is created for the advantage of a specific person or a specific class of people.
Documents Required
★ Name & Address of the Trust
★ Name and Address and Aadhar Card of the trustees
★ PAN Card of the Trust
★ Audit Report prepared by CA (Including Audit report, Income and Expenditure Statement, Balance sheet, Contribution Calculation etc.)
★ Affidavit of the trustees
★ Membership certificate of the CA issued by ICAI
★ Other Documents, if any
★ Corpus certificate, if any