tag:blogger.com,1999:blog-28721735495592651072024-03-19T12:42:38.826+05:30Online CA Services - Ovakil.comOvakil one of the finest legal firm in India working in wide range of legal compliances. We are having experienced Chartered Accountants, Company Secretaries and Advocates in panel who are working for running your business in regular and smooth way. Get your work done with the most professional team in legal field. Visit here https://www.ovakil.com/.Ovakilhttp://www.blogger.com/profile/09723338262582572563noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-2872173549559265107.post-76671525500337017012020-05-25T18:44:00.002+05:302020-05-28T19:27:03.796+05:30Nidhi Company Registration Process and Documents<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-family: "arial" , "helvetica" , sans-serif; mso-ansi-language: EN-US;">Nidhi Company registration process is not very
difficult and not take much the whole process. To proceed with the concept
of nidhi company, we like to give a brief introduction to Nidhi Company. <o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif; mso-ansi-language: EN-US;">Nidhi Company is a company work as a small bank, this is
the reason some people use to know this company as a Nidhi Bank company. In
this company directors manage the whole process of collecting the fund from
the market and distribution the fund in the market. We need to understand that
the Nidhi Company only works for their own members not for any other person. If
any person wants to take loan from the Nidhi bank then they need to become a member of the company. <o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif; mso-ansi-language: EN-US;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Nidhi company follow all rules of Nidhi rules 2014
prescribed by the Ministry of corporate affairs. The process of registration
and all applications can be read in The nidhi rules 2014. </span><span style="font-family: "arial" , "helvetica" , sans-serif;"><o:p></o:p></span></span></div>
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<b><u><span style="font-family: "arial" , "helvetica" , sans-serif; mso-ansi-language: EN-US;"><span style="font-size: large;">Nidhi Company Registration
Process </span><o:p></o:p></span></u></b></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif; mso-ansi-language: EN-US;">For Registration of Nidhi company, we need to consider
many facts. So we are describing the steps involved in the process of <b><a href="https://www.ovakil.com/Nidhi-Company" target="_blank"><span style="color: orange;"><span id="goog_641060230"></span>Nidhi Company registration</span></a></b><span id="goog_641060231"></span>. <o:p></o:p></span></div>
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<b><span style="font-family: "arial" , "helvetica" , sans-serif; mso-ansi-language: EN-US;">Step 1: Collection of Seven members </span></b></h3>
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<span style="font-family: "arial" , "helvetica" , sans-serif; mso-ansi-language: EN-US;">Nidhi Company is the public limited company and every
<b><a href="https://www.ovakil.com/public-limited-company" target="_blank"><span style="color: #cc0000;">public limited company</span></a></b> needs to have at least 7 members which are also known as
the shareholders or promoters of the proposed company. So we need to arrange 7
members for the nidhi company for the registration. At the time of finding new
members we need to consider Rule 8 of Nidhi rules.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b><span lang="EN-IN" style="font-family: "arial" , "helvetica" , sans-serif;">Rule 8. Membership.—</span></b><span lang="EN-IN"><span style="font-family: "arial" , "helvetica" , sans-serif;">(1) A Nidhi<i> </i>shall
not admit a Company or trust as a member, which means only an Individual and a partnership firm can become members.</span><span style="font-family: "arial" , "helvetica" , sans-serif;"><o:p></o:p></span></span></span></div>
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<span lang="EN-IN" style="font-family: "arial" , "helvetica" , sans-serif;">(2) No Nidhi company
can reduce there members blow 200 at any time of there operation, in any
circumstances its happens then the company must take prior approval of the RD.<o:p></o:p></span></div>
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<span lang="EN-IN" style="font-family: "arial" , "helvetica" , sans-serif;">(3) Age of member must
not blow then 18 years old:</span></div>
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<span lang="EN-IN" style="font-family: "arial" , "helvetica" , sans-serif;">In case of <span style="mso-spacerun: yes;"> </span>deposits, minor may be accepted as a member, if
they are made by the natural or legal guardian who is a member of Nidhi.<o:p></o:p></span></div>
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<b><span lang="EN-IN" style="font-family: "arial" , "helvetica" , sans-serif;">Step 2: Determine
Director </span></b></h3>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span lang="EN-IN" style="font-family: "arial" , "helvetica" , sans-serif;">In Nidhi company, there must be at
least 3 directors at the time of registration, so we need to choose any of 3
from the 7 members to be a director at the time of nidhi company registration
process. </span><span style="font-family: "arial" , "helvetica" , sans-serif;">At the time of finding new member, we need to consider the Rule 17 of
Nidhi rules.</span><span style="font-family: "arial" , "helvetica" , sans-serif;"><o:p></o:p></span></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b><span lang="EN-IN">Rule 17. Rules relating
to Directors.—</span></b><span lang="EN-IN">(1)
The Director must be a member of Nidhi company in which he wants to be
director.<o:p></o:p></span></span></div>
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<span lang="EN-IN" style="font-family: "arial" , "helvetica" , sans-serif;">(2) The director of
Nidhi Company cannot hold the office of director for more than 10 years continuously.</span></div>
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<span lang="EN-IN" style="font-family: "arial" , "helvetica" , sans-serif;">(3) The director can
be reappointed in any Nidhi company after the expiration of 2 years from the date
of resignation or removal. <o:p></o:p></span></div>
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<span lang="EN-IN" style="font-family: "arial" , "helvetica" , sans-serif;">(4) Central the government may increase the tenure of any director in the nidhi company <o:p></o:p></span></div>
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<span lang="EN-IN" style="font-family: "arial" , "helvetica" , sans-serif;">terminate on expiry of
such extended tenure.<o:p></o:p></span></div>
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<span lang="EN-IN" style="font-family: "arial" , "helvetica" , sans-serif;">(5) Coming Director must
comply with the requirements of subsection (4) of Section 152 of the Act and
shall not have been disqualified under section 164 of the companies act 2013.</span><br />
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<b style="font-family: arial, helvetica, sans-serif;"><span lang="EN-IN" style="font-family: "times new roman" , "serif";">Step 3: </span><span lang="EN-IN">Documents required for nidhi company registration</span></b></h3>
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<span lang="EN-IN" style="font-family: "arial" , "helvetica" , sans-serif;">Every member of the company need to provide the following documents
at the time of the </span><span lang="EN-IN" style="font-family: "arial" , "helvetica" , sans-serif;">Nidhi Company registration process. <o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: "arial" , "helvetica" , sans-serif;"><span lang="EN-IN" style="font-family: "arial" , "helvetica" , sans-serif;"><span style="mso-list: Ignore;"> 1)<span style="font-size: 7pt; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;">
</span></span></span><!--[endif]--><span lang="EN-IN"><span style="font-family: "arial" , "helvetica" , sans-serif;">PAN
card (Permanent Account Number)</span><span style="font-family: "arial" , "helvetica" , sans-serif;"><o:p></o:p></span></span></span></div>
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</span></span></span><!--[endif]--><span lang="EN-IN"><span style="font-family: "arial" , "helvetica" , sans-serif;">Adhaar
Card </span><span style="font-family: "arial" , "helvetica" , sans-serif;"><o:p></o:p></span></span></span></div>
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<!--[if !supportLists]--><span style="font-family: "arial" , "helvetica" , sans-serif;"><span lang="EN-IN" style="font-family: "arial" , "helvetica" , sans-serif;"><span style="mso-list: Ignore;"> 3)<span style="font-size: 7pt; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;">
</span></span></span><!--[endif]--><span lang="EN-IN"><span style="font-family: "arial" , "helvetica" , sans-serif;">Bank
statement / Passbook ( Must not be old more than 60 days )</span><span style="font-family: "arial" , "helvetica" , sans-serif;"><o:p></o:p></span></span></span></div>
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<!--[if !supportLists]--><span style="font-family: "arial" , "helvetica" , sans-serif;"><span lang="EN-IN" style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;"><span style="font-family: "arial" , "helvetica" , sans-serif;"> 4)</span><span style="font-size: 7pt; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"><span style="font-family: "arial" , "helvetica" , sans-serif;"> </span><span style="font-family: "arial" , "helvetica" , sans-serif;">
</span></span></span></span><!--[endif]--><span lang="EN-IN"><span style="font-family: "arial" , "helvetica" , sans-serif;">Photo
</span><span style="font-family: "arial" , "helvetica" , sans-serif;"><o:p></o:p></span></span></span></div>
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<!--[if !supportLists]--><span style="font-family: "arial" , "helvetica" , sans-serif;"><span lang="EN-IN" style="font-family: "arial" , "helvetica" , sans-serif;"><span style="mso-list: Ignore;"> 5)<span style="font-size: 7pt; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;">
</span></span></span><!--[endif]--><span lang="EN-IN"><span style="font-family: "arial" , "helvetica" , sans-serif;">Email
ID </span><span style="font-family: "arial" , "helvetica" , sans-serif;"><o:p></o:p></span></span></span></div>
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<!--[if !supportLists]--><span style="font-family: "arial" , "helvetica" , sans-serif;"><span lang="EN-IN" style="font-family: "arial" , "helvetica" , sans-serif;"><span style="mso-list: Ignore;"> 6)<span style="font-size: 7pt; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;">
</span></span></span><!--[endif]--><span lang="EN-IN"><span style="font-family: "arial" , "helvetica" , sans-serif;">Phone
number</span><span style="font-family: "arial" , "helvetica" , sans-serif;"><o:p></o:p></span></span></span></div>
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<span lang="EN-IN" style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif;">After collection of
all these documents of the members we need to apply for the Digital Signature. </span><span style="font-family: "arial" , "helvetica" , sans-serif;"><o:p></o:p></span></span></div>
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<b><span lang="EN-IN" style="font-family: "arial" , "helvetica" , sans-serif;">Step 4: Digital
Signature (DSC)</span></b></h3>
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<span lang="EN-IN" style="font-family: "arial" , "helvetica" , sans-serif;">A <b><a href="https://www.ovakil.com/digital-signature" target="_blank"><span style="color: #0b5394;">digital signature</span></a></b> is a
signature under a pan drive token, this signature is required for every step of
company registration and management after company registration. The Digital
signature of members who are not a director of the company is not required after
Nidhi company registration. This signature looks like a normal pen drive and the
life of this signature is not more than 2 years. Every person needs to create a digital signature after 2 years.<o:p></o:p></span></div>
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<b><span lang="EN-IN" style="font-family: "arial" , "helvetica" , sans-serif;">Step 5: Name Approval
of Nidhi Company</span></b></h3>
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<span lang="EN-IN" style="font-family: "arial" , "helvetica" , sans-serif;">Name approval is very
important in the Nidhi company registration process. If you like you can file your
company directly to the department without any name approval, but we suggest taking name approval first so that chances of getting company is very high. Name
must contain Nidhi as a middle name and Limited as the last name of the
company. We cannot use any other last name or middle name in the nidhi company.
<o:p></o:p></span></div>
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<span lang="EN-IN" style="font-family: "arial" , "helvetica" , sans-serif;">We should understand
that the first name of the nidhi company must not resemble or same to any
other nidhi company or any other company having the financial objects in the
MOA. <o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span></div>
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<b><span lang="EN-IN" style="font-family: "arial" , "helvetica" , sans-serif;">Step 6: Preparation of
document and submit to the department </span></b></h3>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-layout-grid-align: none; text-align: justify; text-autospace: none;">
<span lang="EN-IN" style="font-family: "arial" , "helvetica" , sans-serif;">After all the above
process of Nidhi company registration we need to create some specific document
which need to submit with Spice + from issued by the department, these
documents are as follow<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span></div>
<div class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-layout-grid-align: none; mso-list: l0 level1 lfo2; text-align: justify; text-autospace: none; text-indent: -.25in;">
<!--[if !supportLists]--><span style="font-family: "arial" , "helvetica" , sans-serif;"><span lang="EN-IN"><span style="mso-list: Ignore;"><span style="font-family: "arial" , "helvetica" , sans-serif;"> </span><span style="font-family: "arial" , "helvetica" , sans-serif;">1)<span style="font-size: 7pt; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;">
</span></span></span></span><!--[endif]--><span lang="EN-IN" style="font-family: "arial" , "helvetica" , sans-serif;">DIR
2 to be created in which every director will give permission to becoming
director and other details like any other company in which he is already a
director. <o:p></o:p></span></span></div>
<div class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-layout-grid-align: none; mso-list: l0 level1 lfo2; text-align: justify; text-autospace: none; text-indent: -.25in;">
<span lang="EN-IN" style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-layout-grid-align: none; mso-list: l0 level1 lfo2; text-align: justify; text-autospace: none; text-indent: -.25in;">
<!--[if !supportLists]--><span style="font-family: "arial" , "helvetica" , sans-serif;"><span lang="EN-IN" style="font-family: "times new roman" , "serif";"><span style="mso-list: Ignore;"> 2)<span style="font-size: 7pt; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;">
</span></span></span><!--[endif]--><span lang="EN-IN"><span style="font-family: "arial" , "helvetica" , sans-serif;">Declaration
is required to be given by all the members of the Nidhi company, these
declarations must be created as per the rule 6 of the Nidhi rules 2014. There
are some restriction on the working of the nidhi company and all those
restriction to be signed by all promoters of nidhi company.</span><span style="font-family: "arial" , "helvetica" , sans-serif;"><o:p></o:p></span></span></span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-layout-grid-align: none; mso-list: l0 level1 lfo2; text-align: justify; text-autospace: none; text-indent: -.25in;">
<span lang="EN-IN" style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span></div>
<div class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-layout-grid-align: none; mso-list: l0 level1 lfo2; text-align: justify; text-autospace: none; text-indent: -.25in;">
<!--[if !supportLists]--><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span lang="EN-IN"><span style="mso-list: Ignore;"> 3)<span style="font-size: 7pt; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;">
</span></span></span><!--[endif]--></span><span lang="EN-IN"><span style="font-family: "arial" , "helvetica" , sans-serif;">INC
9 to be filed by all members of the new company, in this form very promoters
need to give a clarification that he had not committed any mistake in any other
law of the companies act. </span><span style="font-family: "arial" , "helvetica" , sans-serif;"><o:p></o:p></span></span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><span lang="EN-IN" style="font-family: "times new roman" , "serif";"><br /></span></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-layout-grid-align: none; text-align: justify; text-autospace: none;">
<span lang="EN-IN" style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif;">So above we have
discussed the Nidhi Company registration process which also known as Nidhi bank
registration. The registration is very simple and easy but we should understand
that the registration process required the Chartered accountant or a Company secretary
for preparing the documents, We are the CA firm providing services of Nidhi
Company registration. Our Online CA service is best in this Nidhi Company
registration. </span><span style="font-family: "arial" , "helvetica" , sans-serif;"><o:p></o:p></span></span></div>
<div style="text-align: justify;">
<br /></div>
</div>
Ovakilhttp://www.blogger.com/profile/09723338262582572563noreply@blogger.com7tag:blogger.com,1999:blog-2872173549559265107.post-73388511774891159042018-07-30T12:21:00.000+05:302018-08-07T17:55:24.328+05:30Mandatory KYC of Directors To Be Done Before 31st August 2018?<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="color: #475055; font-family: "arial" , "sans-serif";">We all know that the
ministry of corporate affairs regulates companies in India is taking many steps
to stop the close the bogus and inactive companies. With the same aim of
removing not active or disqualified directors the department wants directors to
fill one form for KYC.<o:p></o:p></span></div>
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<br /></div>
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<o:p></o:p>
</div>
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<span style="color: #475055; font-family: "arial" , "sans-serif";">ROC already issued
notices to companies which are not active, but main problem with these
companies are they don’t have any accurate communication details of directors,
now MCA has issued one form which need to submit by all director with some
documents and one unique phone number and mail id. <o:p></o:p>More
information on roc filing on <b><i><a href="https://www.ovakil.com/Annual-Compliances-for-PVT">https://www.ovakil.com/Annual-Compliances-for-PVT</a>.</i></b></span><span style="font-family: "arial" , sans-serif;"><o:p></o:p></span></div>
</div>
<div style="text-align: left;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgkjPuR3HOETSLm3hDuQH_Nj5gfX65MyUjbf8qQ__k_7FpwVCsb1IjuyVMohX98AcQFF1eVbVAD_6lFaNyZe8xoFQv_k5Q-H_mw_iDmZf1bXSmS69T4Ejre6-b5t7tgT9owHzKI_4Y5874/s1600/Director+kyc.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="Mandatory KYC of Directors" border="0" data-original-height="360" data-original-width="630" height="226" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgkjPuR3HOETSLm3hDuQH_Nj5gfX65MyUjbf8qQ__k_7FpwVCsb1IjuyVMohX98AcQFF1eVbVAD_6lFaNyZe8xoFQv_k5Q-H_mw_iDmZf1bXSmS69T4Ejre6-b5t7tgT9owHzKI_4Y5874/s400/Director+kyc.jpg" title="Mandatory KYC of Directors" width="400" /></a></div>
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<div style="text-align: justify;">
<span style="color: #475055; font-family: "arial" , sans-serif;">ROC issued notices to
Companies concerned but not informed directors associated with them because ROC
doesn’t have any database of individual directors. So, as a part of creating
database of directors consisting mobile number, email Id and residential
address of Directors, MCA issued a new form which is required to be filled
every year by every DIN holder.</span></div>
</div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: center;">
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<span style="color: #475055; font-family: "arial" , "sans-serif";"><br /></span></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<b><u><span style="color: #0c343d; font-family: "arial" , "sans-serif";">WHAT IS FORM DIR-3 KYC?</span></u></b><span style="font-family: "arial" , sans-serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<span style="color: #475055; font-family: "arial" , "sans-serif";"><br /></span></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<span style="color: #475055; font-family: "arial" , "sans-serif";">Form DIR 3 KYC is to be
filled by every director to the ROC even regardless he is appointed as a
director or not, whether he is qualified or disqualified.</span><span style="font-family: "arial" , sans-serif; font-size: 18px;"> </span><span style="color: #475055; font-family: "arial" , sans-serif;">DIR-3 KYC is introduced
vide MCA notification dated 05th July 2018 by which Companies (Appointment and
Qualification of Directors) Rules, 2014 been amended by release of Companies
(Appointment and Qualification of Directors) fourth Amendment Rules, 2018</span><span style="font-family: "arial" , sans-serif;">.</span></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<br /></div>
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<b><span style="color: #0c343d; font-family: "arial" , "sans-serif";">LAWS GOVERNING PROVISIONS</span></b><span style="font-family: "arial" , sans-serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<span style="color: #475055; font-family: "arial" , "sans-serif";"><br /></span></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<span style="color: #475055; font-family: "arial" , "sans-serif";">E-Form DIR-3 KYC is
required to be filed pursuant to Rule 12A and Rule 11(2) and (3) of the
Companies (Appointment and Qualification of Directors) Rules, 2014.</span><span style="font-family: "arial" , sans-serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<span style="color: #475055; font-family: "arial" , "sans-serif";"><br /></span></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<b><u><span style="color: #475055; font-family: "arial" , "sans-serif";">Rule 12A</span></u></b><span style="font-family: "arial" , sans-serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<span style="color: #475055; font-family: "arial" , "sans-serif";"><br /></span></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<span style="color: #475055; font-family: "arial" , "sans-serif";">Every individual who has
been allotted a Director Identification Number (DIN) as on 31st march of a financial
year as per these rules shall, submit e-form DIR-3-KYC to the Central
Government (ROC) on or before 30<sup>th</sup> April of immediate next
financial year.</span><span style="font-family: "arial" , sans-serif;"><o:p></o:p></span></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<span style="color: #475055; font-family: "arial" , "sans-serif";">Provided that every
individual who has already been allotted a Director Identification Number (DIN)
as at 31<sup>st</sup> March, 2018, shall submit e-form DIR-3 KYC on or
before 31<sup>st</sup> August, 2018.</span><span style="font-family: "arial" , sans-serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<br /></div>
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<b><span style="color: #0c343d; font-family: "arial" , "sans-serif";">CONSEQUANCES OF NO-FILING</span></b><span style="font-family: "arial" , sans-serif; font-size: 13.5pt;"><o:p></o:p></span></div>
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<b><u><span style="color: #475055; font-family: "arial" , "sans-serif";"><br /></span></u></b></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<b><u><span style="color: #475055; font-family: "arial" , "sans-serif";">Rule 11(2)</span></u></b><span style="font-family: "arial" , sans-serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<b><u><span style="color: #475055; font-family: "arial" , "sans-serif";"><br /></span></u></b></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<span style="color: #475055; font-family: "arial" , "sans-serif";">The Central Government
or any officer authorized by the Central Government shall, deactivate the
Director Identification Number (DIN) of an individual who does not intimate his
particulars in e-form DIR-3-KYC within stipulated time in accordance with rule
12A.</span><span style="font-family: "arial" , sans-serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<i><span style="color: #475055; font-family: "arial" , "sans-serif";">DIR- 3 KYC after Due
date – permissible? Yes If you want to spent Rs. 5,000/-.</span></i><span style="font-family: "arial" , sans-serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<b><u><span style="color: #475055; font-family: "arial" , "sans-serif";"><br /></span></u></b></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<b><u><span style="color: #475055; font-family: "arial" , "sans-serif";">Rule 11(3)</span></u></b><span style="font-family: "arial" , sans-serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<span style="color: #475055; font-family: "arial" , "sans-serif";"><br /></span></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<span style="color: #475055; font-family: "arial" , "sans-serif";">The de-activated DIN
shall be re-activated only after e-form DIR-3-KYC is filed along with Rs.
5,000/- additional fees.</span><span style="font-family: "arial" , sans-serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<b><span style="color: #0c343d; font-family: "arial" , "sans-serif";"><br /></span></b></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<b><span style="color: #0c343d; font-family: "arial" , "sans-serif";">GUIDE TO FILE YOUR KYC</span></b><span style="font-family: "arial" , sans-serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<span style="color: #475055; font-family: "arial" , "sans-serif";"><br /></span></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<span style="color: #475055; font-family: "arial" , "sans-serif";">1. Enter Name of
Director as per PAN database</span><span style="font-family: "arial" , sans-serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<span style="color: #475055; font-family: "arial" , "sans-serif";">2. Enter Father’ Name
(Married woman must also mention her father’s name)</span><span style="font-family: "arial" , sans-serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<span style="color: #475055; font-family: "arial" , "sans-serif";">3. Enter Nationality,
Date of Birth, Income Tax PAN</span><span style="font-family: "arial" , sans-serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<span style="color: #475055; font-family: "arial" , "sans-serif";">4. Select whether do you
have a Passport? If Yes, enter passport number and attach copy of passport</span><span style="font-family: "arial" , sans-serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<span style="color: #475055; font-family: "arial" , "sans-serif";">5. Enter Aadhar Number
and attach copy of aadhar card</span></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<span style="color: #475055; font-family: "arial" , sans-serif; font-size: 11pt; text-align: center;">6. Enter Personal
Mobile No and Email Id</span></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<span style="color: #475055; font-family: "arial" , sans-serif; font-size: 14.6667px; text-align: center;">7. Enter Permanent residential address and present residential address</span></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<span style="color: #475055; font-family: "arial" , sans-serif; font-size: 14.6667px; text-align: center;">8. Compulsory Attachments:</span></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<span style="color: #475055; font-family: "arial" , sans-serif; font-size: 14.6667px; text-align: center;">•</span><span style="color: #475055; font-family: "arial" , sans-serif; font-size: 14.6667px; text-align: center; white-space: pre;"> </span><span style="color: #475055; font-family: "arial" , sans-serif; font-size: 14.6667px; text-align: center;">Proof of Permanent residential address – Aadhar Can be used</span></div>
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<span style="color: #475055; font-family: "arial" , sans-serif; font-size: 14.6667px; text-align: center;">•</span><span style="color: #475055; font-family: "arial" , sans-serif; font-size: 14.6667px; text-align: center; white-space: pre;"> </span><span style="color: #475055; font-family: "arial" , sans-serif; font-size: 14.6667px; text-align: center;">Copy of Aadhar Card</span></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<span style="color: #475055; font-family: "arial" , sans-serif; font-size: 14.6667px; text-align: center;">•</span><span style="color: #475055; font-family: "arial" , sans-serif; font-size: 14.6667px; text-align: center; white-space: pre;"> </span><span style="color: #475055; font-family: "arial" , sans-serif; font-size: 14.6667px; text-align: center;">Copy of Passport – If Having</span></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<span style="color: #475055; font-family: "arial" , sans-serif; font-size: 14.6667px; text-align: center;">•</span><span style="color: #475055; font-family: "arial" , sans-serif; font-size: 14.6667px; text-align: center; white-space: pre;"> </span><span style="color: #475055; font-family: "arial" , sans-serif; font-size: 14.6667px; text-align: center;">Proof of Present residential address – If different from permanent address</span></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0in 0in 0.0001pt; text-align: justify;">
<span style="color: #475055; font-family: "arial" , sans-serif; font-size: 14.6667px; text-align: center;"><br /></span></div>
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<span style="color: #475055; font-family: "arial" , "sans-serif"; font-size: 12.0pt;">The above attachments
must be self-certified by concerned DIN holder and also attested by
professionals’ along with his signature and membership number.<o:p></o:p></span></div>
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</div>
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<span style="color: #475055; font-family: "arial" , "sans-serif"; font-size: 12.0pt;">After affixing DSC of
Concerned Director and Practicing Professional (CS/CA/CWA), Pre-scrutinize the
form, and then click on ‘Send OTP’ button. Please note that OTP can be
successfully sent to the mobile number and email ID against one form, for a
maximum of 10 times in one day and twice in a span of 30 minutes. Once, OTP
received on both mobile number and email id, enter the both OTPs and click on
verify OTP button. After verification, file the form and save the
acknowledgement.<o:p></o:p></span><br />
<span style="color: #475055; font-family: "arial" , "sans-serif"; font-size: 12.0pt;"><br /></span>
<span style="color: #475055; font-family: "arial" , "sans-serif";"><b><i>For more details, go here:</i></b></span><br />
<span style="color: #475055; font-family: "arial" , "sans-serif";"><br /></span>
<span style="color: #475055; font-family: "arial" , sans-serif;"><b><i><a href="https://www.ovakil.com/Income-tax-return-filing" target="_blank">income tax return filing</a></i></b> | </span><span style="color: #475055; font-family: "arial" , sans-serif;"><b><i><a href="https://www.ovakil.com/Professional-Tax-Registration" target="_blank">professional tax registration online</a></i></b> | </span><span style="color: #475055; font-family: "arial" , sans-serif;"><b><i><a href="https://www.ovakil.com/gst-registration" target="_blank">gst registration online</a></i></b> | </span><span style="color: #475055; font-family: "arial" , sans-serif;"><b><i><a href="https://www.ovakil.com/Partnership-Firm" target="_blank">partnership firm registration</a></i></b> | </span><span style="color: #475055; font-family: "arial" , sans-serif;"><b><i><a href="https://www.blogger.com/"><span id="goog_1870631231"></span>ca for company registration<span id="goog_1870631232"></span></a></i></b> | </span><span style="color: #475055; font-family: "arial" , sans-serif;"><b><i><a href="https://www.ovakil.com/private-limited-company" target="_blank">private limited registration</a></i></b> | </span><span style="color: #475055; font-family: "arial" , sans-serif;"><b><i><a href="https://www.ovakil.com/" target="_blank">online ca services india</a></i></b> | </span><span style="color: #475055; font-family: "arial" , sans-serif;"><a href="https://www.ovakil.com/" target="_blank"><b><i>online company registration</i></b></a></span><br />
<div>
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</div>
<div>
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<o:p></o:p></div>
</div>
Ovakilhttp://www.blogger.com/profile/09723338262582572563noreply@blogger.com1India20.593684 78.962880000000041-8.6041045000000018 37.654286000000042 49.7914725 120.27147400000004tag:blogger.com,1999:blog-2872173549559265107.post-20160619297114275822018-06-28T17:31:00.000+05:302018-08-07T17:55:42.067+05:30Five Reasons You Should Done Your Income Tax Return Filing Before 31 July 2018<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="color: #3e3e3e; font-family: "arial" , "sans-serif"; font-size: 13.0pt;">The income tax
department makes it compulsory for every person to done <b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><a href="https://www.ovakil.com/Income-tax-return-filing" target="_blank">income tax filing</a></i></b> if his
gross total income before allowing the deduction of 80C to 80U, exceeds Rs 2,50,000/-
in the financial year. However this limit is 3 lakh for senior citizen and 5
lakh for super senior citizens. <o:p></o:p></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh7GLzTwm0X-855bgWJO16-At_I-7_q_ZBPyz8a55bDwe3tFqu4xcVw31HYSx11vstmnHyL5aop9btxIrUK2VvPQte6qkZfp-42Brj68dlqlahAxcsn7E1P44OlvDn-XATh4T8Olt50C_M/s1600/tax+time2018.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="900" data-original-width="1600" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh7GLzTwm0X-855bgWJO16-At_I-7_q_ZBPyz8a55bDwe3tFqu4xcVw31HYSx11vstmnHyL5aop9btxIrUK2VvPQte6qkZfp-42Brj68dlqlahAxcsn7E1P44OlvDn-XATh4T8Olt50C_M/s400/tax+time2018.jpg" width="400" /></a></div>
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<span style="color: #3e3e3e; font-family: "arial" , sans-serif; font-size: 13pt;">Senior citizen means
any person more than the age of 60 year at the time of filing return or super
senior is the persons whose age is more than 80 years at tha time of filing
return.</span></div>
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<span style="color: #3e3e3e; font-family: "arial" , "sans-serif"; font-size: 13.0pt;"><br /></span></div>
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<span style="color: #3e3e3e; font-family: "arial" , "sans-serif"; font-size: 13.0pt;">Normally above limit
is to be considered but the assesse can file on voluntary basis even if the
income of that assesse is below the above limit.<o:p></o:p></span></div>
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<b><span style="color: black; font-family: "times new roman" , "serif"; font-size: 13.0pt;">Now here we will discuss
about the 5 reasons of doing <i style="mso-bidi-font-style: normal;">income tax filing</i>
before 31<sup>st</sup> July 2018.<o:p></o:p></span></b></div>
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<b><span style="color: black; font-family: "times new roman" , "serif"; font-size: 13.0pt;">1) <o:p></o:p></span></b><span style="font-family: "times new roman" , serif;"><span style="font-size: 17.3333px;"><b>Carry Forward The Loss Of Business</b></span></span></div>
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<span style="color: #3e3e3e; font-family: "arial" , sans-serif;"><span style="font-size: 13pt;">The loss done by any
individual or business firm in business are known as business loss and it can
be forward and settle with the profit </span><span style="font-size: 17.3333px;">up to</span><span style="font-size: 13pt;"> the next 8 years (Some conditions
are there). This loss can be settle in next year only in the case the where
income tax return filing done before the due that. In this financial year due
that for filing is 31</span></span><sup style="color: #3e3e3e; font-family: Arial, sans-serif; font-size: 13pt;">st</sup><span style="color: #3e3e3e; font-family: "arial" , sans-serif;"><span style="font-size: 13pt;"> July 2018.<o:p></o:p></span></span></div>
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<b><span style="color: black; font-family: "times new roman" , "serif"; font-size: 13.0pt;">2) <o:p></o:p></span></b><span style="font-family: "times new roman" , serif;"><span style="font-size: 17.3333px;"><b>No Income Tax Refund After Due Date</b></span></span></div>
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<b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span style="color: #3e3e3e; font-family: "arial" , "sans-serif"; font-size: 13.0pt;"><a href="https://sites.google.com/site/ovakilonlineca/home/if-we-don-t-have-two-directors-then-one-person-company-registration-is-best-option" target="_blank">EFiling income tax</a></span></i></b><span style="color: #3e3e3e; font-family: "arial" , sans-serif;"><span style="font-size: 13pt;"> is not mandatory for
the </span><span style="font-size: 17.3333px;">assesse</span><span style="font-size: 13pt;"> who wants to take back taxes paid as TDS, in case any TDS paid in
extra by any </span><span style="font-size: 17.3333px;">assesse</span><span style="font-size: 13pt;"> then they need to complete filing before due date.
Otherwise income tax refund will not provide by the department.<o:p></o:p></span></span></div>
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<b><span style="color: black; font-family: "times new roman" , "serif"; font-size: 13.0pt;">3) <o:p></o:p></span></b><span style="font-family: "times new roman" , serif;"><span style="font-size: 17.3333px;"><b>Avoidance Of Heavy Penalty</b></span></span></div>
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<span style="color: #3e3e3e; font-family: "arial" , "sans-serif"; font-size: 13.0pt;">As per amendment under
section 234F of the Income-Tax Act, if a person required to furnish a return of
income by July 31 fails to do so, then a fee of Rs 5000 shall be
levied if the return is furnished before 31st December. However, the fee
shall be Rs 10,000 if it is filed after 31st December. Moreover, if the
total income of the person doesn’t exceed Rs 5 lakh, then fee payable shall not
exceed Rs 1000.<o:p></o:p></span></div>
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<b><span style="color: black; font-family: "times new roman" , "serif"; font-size: 13.0pt;"><o:p> </o:p></span></b><b><span style="font-family: "times new roman" , serif; font-size: 13pt;">4) <o:p></o:p></span></b><span style="font-family: "times new roman" , serif;"><span style="font-size: 17.3333px;"><b>Legal Sanction To Your Income</b></span></span></div>
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<b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span style="color: #3e3e3e; font-family: "arial" , "sans-serif"; font-size: 13.0pt;"><a href="https://sites.google.com/site/ovakilonlineca/home/if-we-don-t-have-two-directors-then-one-person-company-registration-is-best-option" target="_blank">Filing income tax return</a></span></i></b><span style="color: #3e3e3e; font-family: "arial" , "sans-serif"; font-size: 13.0pt;"> provides you a proof
of income. It is suggestion to all assesse to file return even it they are not
legally bound for this. However the date for that person should 30<sup>th</sup>
September. Filling a return gives a legal sanction to your income even if you
are not liable to pay taxes for the year.</span></div>
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<b><span style="font-family: "times new roman" , serif; font-size: 13pt;">5) </span></b><span style="font-family: "times new roman" , serif;"><span style="font-size: 17.3333px;"><b>Advantages In The Processing Of A Loan</b></span></span></div>
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<span style="color: #3e3e3e; font-family: "arial" , sans-serif;"><span style="font-size: 17.3333px;">Banks and other financial institution always demand for income tax return before sanction the loan to any assesse. Its depend on the norms of the bank to take return for continuous 2 or 3 years. So it’s better to file return for maintaining the trend if you want to take loan in coming years.</span></span><br />
<span style="color: #3e3e3e; font-family: "arial" , sans-serif;"><span style="font-size: 17.3333px;"><br /></span></span>
<span style="color: #3e3e3e; font-family: "arial" , sans-serif;"><span style="font-size: 17.3333px;">Click here to know more about detail :-</span></span><br />
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<td align="left" class="xl65" height="20" style="height: 15.0pt; width: 227pt;" width="303"><a href="https://www.ovakil.com/Income-tax-return-filing"><b><i>https://www.ovakil.com/Income-tax-return-filing</i></b></a></td></tr>
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<span style="color: #3e3e3e; font-family: "arial" , sans-serif;"><span style="font-size: 17.3333px;">.</span></span></div>
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Ovakilhttp://www.blogger.com/profile/09723338262582572563noreply@blogger.com3tag:blogger.com,1999:blog-2872173549559265107.post-90796572589786980262018-06-12T15:30:00.003+05:302018-08-07T17:57:18.793+05:30Complete Guide To Online Income Tax Return Filing For Fy 2017-18<div dir="ltr" style="text-align: left;" trbidi="on">
<div style="text-align: justify;">
This year deadline for income tax return filing for FY 2017-18 or AY 2018-19. The last day for filing ITR is July 31, 2018, and you should not miss the chance at any cost. Filing returns on time is proof of financial prudence.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
If you are filing ITR for AY 2018-19 for the first time then its better to go with the quick guidelines, here is a quick guide on what you need to know as a salaried employee.</div>
<div style="text-align: justify;">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgw_tNGcOfxAmpyoRVcBujujRAibO6HFHaxX6IvrhIR_S9vYJQAzRt_7NHuegWpZZVJaWJe9cMzIeJdy_7KuIPD6SwuYn3P1LFEsJbaWEYg_8b_WJoRXaeakS00yVYq0F3-is7tyZ7KL8o/s1600/Tax+Return.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="460" data-original-width="800" height="230" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgw_tNGcOfxAmpyoRVcBujujRAibO6HFHaxX6IvrhIR_S9vYJQAzRt_7NHuegWpZZVJaWJe9cMzIeJdy_7KuIPD6SwuYn3P1LFEsJbaWEYg_8b_WJoRXaeakS00yVYq0F3-is7tyZ7KL8o/s400/Tax+Return.jpg" width="400" /></a></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<b><br /></b></div>
<div style="text-align: justify;">
<b>The Amendments</b></div>
<div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Many employees believe that they are the most burdened lot, which is clearly a mental trap. The amendments have been introduced to make the <b><i><a href="https://www.ovakil.com/Income-tax-return-filing" target="_blank">online income tax return filing</a></i></b> more transparent for assesse.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Some of the notable changes introduced under the Finance Act, 2018, include reintroduction of standard deduction, elimination of allowances (medical and HRA), long-term capital gains (LTCG) tax on equity, and increased income tax cess.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
The simplified e-version of the <b><i><a href="https://www.ovakil.com/Income-tax-return-filing" target="_blank">efiling income tax</a></i></b> form is not only faster to file but also helps the tax department to keep a strict vigil on those who under report or over report their incomes and expenditures to evade the tax net.</div>
<div style="text-align: justify;">
<br /></div>
<h3 style="text-align: justify;">
Here's A Handy List Of Documents Required For Efling Income Tax:</h3>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
1) Permanent Account Number or PAN card</div>
<div style="text-align: justify;">
2) Adhaar card</div>
<div style="text-align: justify;">
3) All bank statements with bank account details</div>
<div style="text-align: justify;">
4) Form 16 issued by your employer or any other TDS information</div>
<div style="text-align: justify;">
5) Copy of your last year's ITR</div>
<div style="text-align: justify;">
6) Proof of investments for deductions under Section 80 C:</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Section 80 C allows the taxpayer to save up to Rs 1.5 lakh in the financial year. It is certainly one of the major parts of tax planning and saving income tax.</div>
<div style="text-align: justify;">
You can claim following investments under section 80 C:</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
1) Premium paid for Life insurance</div>
<div style="text-align: justify;">
2) ELSS or Mutual Fund investments</div>
<div style="text-align: justify;">
3) Contributions towards Provident Fund</div>
<div style="text-align: justify;">
4) Premiums paid for retirement</div>
<div style="text-align: justify;">
5) Tuition fees for children</div>
<div style="text-align: justify;">
6) Principal for home loan</div>
<div style="text-align: justify;">
7) National Savings Certificate bonds</div>
<div style="text-align: justify;">
8) Bank FD or similar deposits</div>
<div style="text-align: justify;">
9) Amount paid to National Pension System or other similar account</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<b>Other Investments</b></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
1) Excess house rent paid over the HRA. (Only when the assesse doesn't own a house)</div>
<div style="text-align: justify;">
2) Deduction for higher education loans</div>
<div style="text-align: justify;">
3) Medical insurance premiums for self, family, or parents</div>
<div style="text-align: justify;">
4) Saving account Interest up to Rs 10,000</div>
<div style="text-align: justify;">
5) Interest paid on home loan</div>
<div style="text-align: justify;">
6) Donation to Prime Minister's Relief Fund</div>
<div style="text-align: justify;">
7) Income from patents and royalties</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
This is an indicative list of documents that will help you claim deductions and save tax. You would need to get the original copies scanned to file the <b><i><a href="https://www.ovakil.com/Income-tax-return-filing" target="_blank">IT return online</a></i></b>.</div>
<div style="text-align: justify;">
<br /></div>
</div>
</div>
Ovakilhttp://www.blogger.com/profile/09723338262582572563noreply@blogger.com3India20.593684 78.962880000000041-8.6041045000000018 37.654286000000042 49.7914725 120.27147400000004tag:blogger.com,1999:blog-2872173549559265107.post-76909901450162283722018-06-02T16:59:00.000+05:302018-08-07T17:56:51.419+05:30What Time Duration Involve For Different Type of Business Registration Online?<div dir="ltr" style="text-align: left;" trbidi="on">
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "arial" , "sans-serif";">For
doing business in India we need to use some identity, and for this purpose Firm
registration online is the option to do. Aspirants of business have
many option, they can chose different type of business entity.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "arial" , "sans-serif";"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "arial" , "sans-serif";">Every
business registration involves some time to get done. Now we will explain time
duration with reasons for every type of <b><i><a href="https://www.ovakil.com/" target="_blank">business registration online</a></i></b>.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "arial" , "sans-serif";"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEipslg_HJE8Qkk5qW3SshKcthlzVP9RQeSoEsi032VziUY1bhZdrsy9GjFrEgMvaBjLmJs2dJh0V5EGOiYT23LGpaP9phZbU_Dq1p-7ITOayI58IaW_z32kt60sdAu2FCct92d6InI4-Tc/s1600/business+registration.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="375" data-original-width="500" height="300" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEipslg_HJE8Qkk5qW3SshKcthlzVP9RQeSoEsi032VziUY1bhZdrsy9GjFrEgMvaBjLmJs2dJh0V5EGOiYT23LGpaP9phZbU_Dq1p-7ITOayI58IaW_z32kt60sdAu2FCct92d6InI4-Tc/s400/business+registration.jpg" width="400" /></a></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "arial" , "sans-serif";"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<b><u><span style="font-family: "arial" , "sans-serif";">Company Registration:</span></u></b><span style="font-family: "arial" , "sans-serif";"> Company may be public or private
limited company people use to take registration. Both companies have almost
same method of registration. Only part which make private limited different
from the public limited company is rules and regulation to be follow after new
company registration.</span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "arial" , "sans-serif";"><b><i><br /></i></b></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "arial" , "sans-serif";">It
take almost 10 working days for whole process to be done, which involves name
approval, DSC creation, MOA and AOA, Documentation and other procedures. For <b><i><a href="https://www.ovakil.com/" target="_blank">New Company registration</a></i></b> the all documents to be submitted by the
professional to the MCA in Manesar (Near Delhi). The process is 100% and
directors need not to present at the time of registration.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "arial" , "sans-serif";"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<b><u><span style="font-family: "arial" , "sans-serif";">LLP Registration</span></u></b><b><span style="font-family: "arial" , "sans-serif";">:
</span></b><span style="font-family: "arial" , "sans-serif";">Limited liability
partnership is advance form of normal partnership. This is combination of
partnership and company registration. LLP is normal partnership with limited
liability provision. Normally LLP take 20-25 working days for registration.
After LLP registration we need to apply for pan card, which also takes almost
15 days.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "arial" , "sans-serif";"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<b><u><span style="font-family: "arial" , "sans-serif";">Partnership
Registration</span></u></b><b><span style="font-family: "arial" , "sans-serif";">: </span></b><span style="font-family: "arial" , "sans-serif";">Partnership firm registration is done by creating simple
deed between partners, which normally takes 1 day. With the help of partnership
deed we will apply pan card, but will help of deed and Pan card we cannot open
bank account and banks demands some government registration for this purpose. <o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "arial" , "sans-serif";"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "arial" , "sans-serif";">GST
registration is best option for opening bank account, so its better to open
take registration so that we can open bank account for the company. Partnership
<b><i><a href="https://www.ovakil.com/" target="_blank">firm registration online</a></i></b> is possible with simple steps.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "arial" , "sans-serif";"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "arial" , "sans-serif";">Note:
In case we are not cover in the GST, then its better to take company
registration or LLP registration, because in these registration there is no
requirement of GST for opening bank account with the name of business entity. <o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "arial" , "sans-serif";"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<b><u><span style="font-family: "arial" , "sans-serif";">Sole Proprietorship Firm</span></u></b><b><span style="font-family: "arial" , "sans-serif";">: </span></b><span style="font-family: "arial" , "sans-serif";">If any person wants to register business with his own
name then sole proprietorship is best option. This registration requires GST
registration. Normal GST registration takes 5 working days. It take almost 1
hour to fill all details for registration. After that department will issue
certificate for GST. <o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "arial" , "sans-serif";"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
</div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "arial" , "sans-serif";">Now,
we understand that in case we want to register our business in fatest form then
its better to go for company registration. If we are individual for doing
business the Sole proprietorship is best. All above firm registration online
is possible to done with simple steps.<o:p></o:p></span></div>
<br /></div>
Ovakilhttp://www.blogger.com/profile/09723338262582572563noreply@blogger.com9Agra, Uttar Pradesh, India27.1766701 78.00807450000002126.9506581 77.685351000000026 27.4026821 78.330798000000016tag:blogger.com,1999:blog-2872173549559265107.post-70672640832948341892018-05-16T15:13:00.000+05:302018-08-07T17:56:43.946+05:30Online CA for Private Limited Company Registration in India<div dir="ltr" style="text-align: left;" trbidi="on">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12pt;">Online Company Registration in India</span><span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 12.0pt;"> is not difficult now. Ovakil provides services
for business registration which include different type of company registration,
sole proprietorship, partnership etc. Total process of registration is
generally takes 10-12 working days will all document completion and process. <o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 12.0pt;">As per the Company Act
2013, We need CS or <i><a href="https://www.ovakil.com/private-limited-company" rel="nofollow" target="_blank"><b>CA for Company registration</b></a></i>. These professionals complete all documents and signature the
documents were required.<o:p></o:p></span><br />
<span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 12.0pt;"><br /></span>
<span style="clear: left; color: #222222; float: left; font-family: "arial" , "sans-serif"; font-size: 12pt; margin-bottom: 1em; margin-right: 1em;"><img alt="Image result for private limited registration" height="211" src="https://4.imimg.com/data4/SL/FV/ANDROID-24833447/product-500x500.jpeg" width="320" /></span><br />
<b><span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 12.0pt;">Process of Online Company Registration in
India</span></b></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 12.0pt;">Step 1 Name Approval: </span></b><span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 12.0pt;">We need to apply for name approval in the RUN
form provided on the website of MCA for <span style="mso-bidi-font-weight: normal;">Private
limited Company Registration.<b><o:p></o:p></b></span></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 12.0pt;">Step 2 Digital Signature: </span></b><span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 12.0pt;">All directors of new company must have valid
digital signature (DSC) for singing the PDF documents which to be upload on the
government portal. <o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 12.0pt;">Step 3 Preparations of Documents</span></b><span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 12.0pt;">: For Company registration in India we need
consider that all documents should be forwarded by client to our <span style="mso-bidi-font-weight: normal;">CA for Company registration</span>. All
documents should be properly scanned and clear image from phone can be taken
for forwarding Documents,<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 12.0pt;">CA will collect and
create MOA and AOA for <b style="mso-bidi-font-weight: normal;"><a href="https://www.ovakil.com/private-limited-company" rel="nofollow" target="_blank">Online Company Registration in India</a></b>. These documents along with the normatl KYC and
address proof will be uploaded on the government for approval. <o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 12.0pt;">We need to understand
that at the time of submitting documents to the department the Chartered
accountant who are getting your company ready will fill the form of PAN card.
So on the certificate of the company there are PAN number will be written on
original copy.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 12.0pt;">Step 4 Company Auditor: </span></b><span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 12.0pt;">After submitting all documents and receiving
approval from the department all new company needs to appoint the auditor for
company within 30 days from the date of approval.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 12.0pt;">This auditor will
appoint up to the conclusion of first AGM which will take place after 31<sup>st</sup>
march 2018.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 12.0pt;">At the time of company
formation director don’t need to be present in person in front of chartered
account or department. CA only need properly scanned documents for working. <o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 12.0pt;">Company can be registered at home address?<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12pt;"><br /></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12pt;">General question
usually come in mind while at the time of company formation is whether it’s
possible to open new company at home address or specific commercial area is
required. </span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12pt;"><br /></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 12.0pt;">There is no specific
area is required for company formation. Resident address of director can work
for company registration. We just only need No objection certificate for <a href="https://www.ovakil.com/private-limited-company" rel="nofollow" target="_blank"><i><b>registration of Private limited Company</b></i></a><b>.<o:p></o:p></b></span></div>
<div style="text-align: justify;">
<br /></div>
</div>
Ovakilhttp://www.blogger.com/profile/09723338262582572563noreply@blogger.com73India20.593684 78.962880000000041-8.6041045000000018 37.654286000000042 49.7914725 120.27147400000004tag:blogger.com,1999:blog-2872173549559265107.post-31668646140482125562018-05-08T13:54:00.000+05:302018-08-07T17:56:36.737+05:30Difference Between Composition And Regular GST Registration <div dir="ltr" style="text-align: left;" trbidi="on">
<div style="text-align: justify;">
(1) <b>What Is Gst Registration?</b></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
GST registration is new form of taxes comes in India in the place of various taxes like vat, service tax, custom, entertainment tax etc. It is a one nation tax which has a dream of Indian government for so many years. Now you only need to pay GST in place of other indirect taxes, which has been mentioned above.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
(2) <b>Types Of Gst Registration?</b></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
There are two types of <b><i><a href="https://www.ovakil.com/gst-registration" target="_blank">GST registration</a></i></b> one in regular which further divides in to mandatory or optional and the other one is composition registration.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
(3) <b>What Is Regular Mandatory And Optional Registration?</b></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Every person whose turnover exceeds 20 lacs or want to sale interstate sale (from one state to another) irrespective of turnover shall, mandatory register themselves in GST registration. </div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
When a person whose turnover does not exceed 20 lacs but voluntary they want to register themselves it’s called optional registration.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
(4) <b>What Is Composition Registration?</b></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Where a businessman who does not want to maintained books of account , or taking input tax credit, or setting off output tax liability, they register themselves in a composition dealer and give flat @1% tax on sale, neither they maintained books nor maintained any details.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
(5) <b>Is There Any Monetary Limit For Composition Dealer Registration?</b></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Under GST registration a person can opt for composition registration whose turnover does not exceed 75 lacs can opt for composition scheme.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
(6) <b>Is Person Can Change From Composition To Non-composition Or Vice Versa?</b></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Yes, you can change from composition to non-composition or vice versa, but that can be done after on year only, because once you choose for composition or out from composition, that will remain for one year, and you can change after that financial year.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
(7) <b>Who Cannot Opt For Composition Scheme?</b></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
There are two types of tax payers who cannot opt for composition scheme</div>
<div style="text-align: justify;">
(i)<span style="white-space: pre;"> </span>Who’s turnover is more than 75 lacs</div>
<div style="text-align: justify;">
(ii)<span style="white-space: pre;"> </span>Who want to sale interstate sale.</div>
<div style="text-align: justify;">
(iii)<span style="white-space: pre;"> </span>Service sector industry cannot opt for composition scheme</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
(8) <b>What Are The Benefits Of Composition Scheme?</b></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
There are few benefits available in composition scheme in GST registration , these are</div>
<div style="text-align: justify;">
(i)<span style="white-space: pre;"> </span>Cannot required to maintained detail records</div>
<div style="text-align: justify;">
(ii)<span style="white-space: pre;"> </span>Submit tax and tax returns quarterly</div>
<div style="text-align: justify;">
(iii)<span style="white-space: pre;"> </span>Flat rate of tax @1% on sale</div>
<div style="text-align: justify;">
(iv)<span style="white-space: pre;"> </span>No need to claim input tax credit</div>
<div style="text-align: justify;">
(v)<span style="white-space: pre;"> </span>Businessperson does not require following too much guidelines.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
(9) <b>What Are The Drawbacks Of Composition Scheme?</b></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
There are few drawbacks also available on composition scheme, these are:</div>
<div style="text-align: justify;">
(i)<span style="white-space: pre;"> </span>No Input tax credit available, hence taxes paid on input would ultimately increase the cost of the product</div>
<div style="text-align: justify;">
(ii)<span style="white-space: pre;"> </span>No big house is interested to purchase goods from a person who opts for composition scheme, because they cannot claim input tax credit, which they paid on purchase.</div>
<div style="text-align: justify;">
(iii)<span style="white-space: pre;"> </span>Cannot sale interstate sale.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
(10) <b>Is Any Survey Or Inspection Will Be Required For Gst Registration?</b></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Yes, department will conduct a survey , on the premises where you register yourself in GST registration, and give you survey report, but no time has been prescribed in GST act for conducting survey.<br />
<br />
Click here to know more about <b><i><a href="https://www.ovakil.com/">https://www.ovakil.com/</a></i></b>.</div>
<div style="text-align: justify;">
<br /></div>
<div>
</div>
</div>
Ovakilhttp://www.blogger.com/profile/09723338262582572563noreply@blogger.com1India20.593684 78.962880000000041-8.6044825 37.654286000000042 49.791850499999995 120.27147400000004tag:blogger.com,1999:blog-2872173549559265107.post-20184410365380457802018-04-27T14:07:00.000+05:302018-04-27T14:12:24.494+05:30What Are The Documentation / Pre-requisite Required For Startup India?<div dir="ltr" style="text-align: left;" trbidi="on">
<br />
<div class="MsoNormal" style="text-align: justify;">
In our earlier blog of startup India we tell you what is start up India and their benefits of <b><i><a href="https://www.ovakil.com/" target="_blank">registration in startup</a></i></b> India. Now we tell you what the pre-requisite for making registration in startup India are.</div>
<div class="MsoNormal" style="text-align: justify;">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjAtl95vyGFGgXgo4iasv_I-YWeJ_XbUfm-Gyu60dhPjWlecUNDdeyjdPha3IKhCD7bfzEOqrhuJQJMv9duRKOBiHipJcxomy7qMazD1klqYeAOK_kycytev6J0cAK4YuNmnPunMX7tVeQ/s1600/Documentation+startup.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="600" data-original-width="1000" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjAtl95vyGFGgXgo4iasv_I-YWeJ_XbUfm-Gyu60dhPjWlecUNDdeyjdPha3IKhCD7bfzEOqrhuJQJMv9duRKOBiHipJcxomy7qMazD1klqYeAOK_kycytev6J0cAK4YuNmnPunMX7tVeQ/s400/Documentation+startup.jpg" width="400" /></a></div>
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<b>Startup India Registration is Divided in to 7 steps:</b></div>
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(1)<span style="white-space: pre;"> </span><b>Entity details:</b> Here in first step you need to filled your entity information like entity you belongs, further classified you industry then to sector then to categories you belong like if you belong telecom industry then you have to classified yourself in to what actually you done in telecom sector in to categories what you actually do. You also give Your registration detail like registration no, pan card no of entity, registration date etc. along with registration certificate like company incorporation certificate which need to be uploaded.</div>
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(2)<span style="white-space: pre;"> </span><b>Address Detail:</b> in this column all you need to give your address details.</div>
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(3)<span style="white-space: pre;"> </span><b>Authorization Detail:</b> Here you give detail of authorized person who are filling who are actually working in your entity or a signing person.</div>
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(4)<span style="white-space: pre;"> </span><b>Director/ Partner Detail:</b> In this step you need to give detail of Director/ Partner like Name, gender, mobile no, email id etc.</div>
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(5)<span style="white-space: pre;"> </span><b>Information Required:</b> This is a most important step here you give details of your entity employees, your innovative product, your level of business etc.</div>
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(6)<span style="white-space: pre;"> </span><b>Tax Benefits:</b> In this step on the basis of information you have provided system will automatically see whether you are eligible for the tax exemptions it’s based on the department criteria are match with your self-declaration information that you had provided.</div>
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(7)<span style="white-space: pre;"> </span><b>Self-Deceleration:</b> In this step you have to self-declare that all the information that you have provided are true and correct.</div>
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The only documents you required mandatory is the registration certificate, apart from this no documents are required for compulsory uploading, however if you want to filled additional documents you can filled the same like , hyperlink of your website, videos etc.<br />
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After filling the same, department will analyses your application and give certification or decline the application on the basis of your correctness of your information.</div>
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<b>Where I get my Certificate of Startup India Registration?</b></div>
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After Analyzing the information, department will grant you certificate on the email id which you have been provided on your information column. This certificate will be evidence that you have registering yourself in startup India initiative.</div>
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To know more about:-</div>
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<b><i><a href="https://ovakilservice.blogspot.in/2018/04/what-is-startup-india_61.html" target="_blank">What Is Startup India?</a></i></b></div>
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Ovakilhttp://www.blogger.com/profile/09723338262582572563noreply@blogger.com4tag:blogger.com,1999:blog-2872173549559265107.post-20905857284579018462018-04-26T16:55:00.000+05:302018-08-07T17:56:27.041+05:30Process Of New GST Registration in India<div dir="ltr" style="text-align: left;" trbidi="on">
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After July 2017, it is almost become compulsory to have <b><a href="https://www.ovakil.com/gst-registration" target="_blank"><i>GST Registration</i></a></b> for doing business in India, there are some conditions for doing business without registration but it’s not applicable on mostly business.<br />
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<b>
Who Are Eligible For GST Registration?</b></div>
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There are basically two conditions for GST registration. We need to register even if the one condition completed.</div>
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1) Business must cross limit of 20 Lakhs per annum </div>
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2) Sales of good crosses the state of business </div>
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In case no condition is fulfilled then any person can take registration on voluntary basis </div>
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Documents required for GST registration.</div>
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<b>In Case Of Individual </b></div>
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1)<span style="white-space: pre;"> </span>PAN card of Individual </div>
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2)<span style="white-space: pre;"> </span>Adhaar card of Individual </div>
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3)<span style="white-space: pre;"> </span>Bank Statement/ Passbook/ Cancelled Cheaque of saving bank account of Individual </div>
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4)<span style="white-space: pre;"> </span>Electricity bill/ Rent Agreement/ Consent Letter of property owner </div>
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5)<span style="white-space: pre;"> </span>Passport size photo of Individual </div>
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<b>In Case Of Partnership Firm /LLP</b></div>
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1)<span style="white-space: pre;"> </span>PAN card of all partners </div>
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2)<span style="white-space: pre;"> </span>Aadhaar card of all partners </div>
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3)<span style="white-space: pre;"> </span>Bank Statement/ Passbook/ Cancelled Cheaque of saving bank account of any partner </div>
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4)<span style="white-space: pre;"> </span>Electricity bill/ Rent Agreement/ Consent Letter of property owner </div>
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5)<span style="white-space: pre;"> </span>Passport size photo of all partners</div>
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<b>In Case Of Company </b></div>
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1)<span style="white-space: pre;"> </span>PAN card of all Directors </div>
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2)<span style="white-space: pre;"> </span>Adhaar card of all Directors </div>
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3)<span style="white-space: pre;"> </span>Bank Statement/ Passbook/ Cancelled Cheaque of Company current account </div>
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4)<span style="white-space: pre;"> </span>Electricity bill/ Rent Agreement/ Consent Letter of property owner </div>
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5)<span style="white-space: pre;"> </span>Passport size photo of All director </div>
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6)<span style="white-space: pre;"> </span>Digital Signature of any one Director</div>
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<b>How Much Time It Will Take To Register GST?</b></div>
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It will take 1 working day to submit and create account with department but almost 4-5 day for GST registration approval.</div>
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<b>Is There Any Chance Of Non-approval Of GST Registration?</b></div>
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Yes, in case department thinks the documents deposited with GST department is not sufficient then department notice known as Show cause notice (SCN) and for approval of GST registration we need to reply the notice and complete the documents.</div>
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In case we don’t reply on the said SCN then application of GST registration will automatically rejected by the department.</div>
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<b>Is This Possible To Use Online Ca For GST Registration?</b></div>
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<b><a href="https://www.ovakil.com/" target="_blank"><i>Online CA</i></a></b> in India working almost for all field related to taxation and business matters. In case of GST registration we only need soft copy of all documents, so it’s practically possible to done GST registration with the help of Online CA.<br />
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Ovakilhttp://www.blogger.com/profile/09723338262582572563noreply@blogger.com8India20.593684 78.962880000000041-8.6044825 37.654286000000042 49.791850499999995 120.27147400000004tag:blogger.com,1999:blog-2872173549559265107.post-32883102080306240932018-04-26T15:48:00.003+05:302018-08-07T17:56:18.944+05:30What Is Startup India ?<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-family: "times new roman" , serif; font-size: 12pt;">A startup India registration is an initiative run by
the Indian government to promote the new business in India. The government of
India provides various benefits to the concern who registered themselves in
startup India initiative.</span></div>
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<b><span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">Now The Question Arise Who
Can Registered Themselves In Startup India Initiative?</span></b><span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;"><o:p></o:p></span></div>
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<b><span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;"><br /></span></b></div>
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<span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">For Registration in Startup India there
is specific type of business registrations which are as follow :<o:p></o:p></span></div>
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<span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">(1)Registered partnership firm<o:p></o:p></span></div>
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<span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">(2)Limited Liability Partnership<o:p></o:p></span></div>
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<span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">(3)A company registered in company act<o:p></o:p></span></div>
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<b><span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">Condition For Apply Startup
India Initiative:</span></b><span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;"><o:p></o:p></span></div>
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<span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">The condition required for startup India
registration is:<o:p></o:p></span></div>
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<span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">(i) The entity should registered
themselves with in 7 years from the date of incorporation (in case of
bio-technical sector 10 years from the date of incorporation)<o:p></o:p></span></div>
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<span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">(ii)Turnover of the entity does not
exceeds 25 crore.<o:p></o:p></span></div>
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<span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">(iii)Entity should not form by splitting
or reconstruction of new entity.<o:p></o:p></span></div>
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<span style="line-height: 115%;"><span style="font-family: "times new roman" , serif;"><b style="font-size: 12pt;">Benefits Of </b><b>Registration</b><b style="font-size: 12pt;"> In
Startup </b><b>India</b><span style="font-size: 12pt;"><b> Initiative:</b></span></span></span><span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;"><o:p></o:p></span></div>
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<b><span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;"><br /></span></b></div>
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<span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">Following are the benefits of startup
India initiative:<o:p></o:p></span></div>
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<span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">(1)</span> <b><span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">Tax
Ememption</span></b><span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">: There would be tax exemptions for 3
years and also in capital gains.<o:p></o:p></span></div>
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<span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">(2)</span> <b><span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">Easily
Avilabilty Of Loan</span></b><span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">: Government of India has
provided a fund of rupees 10,000 cr for funding of startup India initiative.<o:p></o:p></span></div>
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<span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">(3)</span> <b><span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">Self
Certification Of 9 Environmental And Labour Laws:</span></b><span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;"><o:p></o:p></span></div>
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<span style="color: black; font-family: "times new roman" , "serif"; font-size: 12pt; line-height: 115%;">Startups may self-certify
compliance in respect of following 6 Labour Laws:</span><span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;"><o:p></o:p></span></div>
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<span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">(i)The Building and Other Constructions
Workers’ (Regulation of Employment & Conditions of Service) Act, 1996<o:p></o:p></span></div>
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<span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">(ii)The Inter-State Migrant Workmen
(Regulation of Employment & Conditions of Service) Act, 1979<o:p></o:p></span></div>
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<span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">(iii)The Payment of Gratuity Act, 1972<o:p></o:p></span></div>
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<span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">(iv)The Contract Labour (Regulation and
Abolition) Act, 1970<o:p></o:p></span></div>
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<span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">(v)The Employees’ Provident Funds and
Miscellaneous Provisions Act, 1952<o:p></o:p></span></div>
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<span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">(vi)The Employees’ State Insurance Act,
1948<o:p></o:p></span></div>
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<span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">(4)</span> <b><span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">Fess
Concession In Case Of Filling Of Patents: </span></b><span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">Government
of India provide fees exemptions in case of you want to filled patent
application.<o:p></o:p></span></div>
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<span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">(5)</span> <b><span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">Easy
W0inding Up Procedure: </span></b><span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">There would be
procedure for faster winding up of the company within 90 days.<o:p></o:p></span></div>
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<b><span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">Is There Any Government Fees
Required For Start Up India Registration?</span></b><span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;"><o:p></o:p></span></div>
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<b><span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;"><br /></span></b></div>
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<span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">No there would be no government fees
required for registration them-self in startup India.<o:p></o:p></span></div>
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<span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;"><br /></span></div>
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<b><span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">Is There Any Physical
Documents Submission Required?</span></b><span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;"><o:p></o:p></span></div>
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<b><span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;"><br /></span></b></div>
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<span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">No, there is no such conditions exist
for physical submission of documents; the only thing required is uploading of
prescribed documents.<o:p></o:p></span></div>
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<span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;"><br /></span></div>
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<span style="color: black; font-family: "times new roman" , "serif"; font-size: 12.0pt; line-height: 115%;">For More Information Visit here: <b><i><a href="https://www.ovakil.com/">https://www.ovakil.com/</a></i></b></span><span style="font-family: "times new roman" , serif; font-size: 12pt;">. </span></div>
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Ovakilhttp://www.blogger.com/profile/09723338262582572563noreply@blogger.com5India20.593684 78.962880000000041-8.6044825 37.654286000000042 49.791850499999995 120.27147400000004