One of the most common choices for entrepreneurs who want flexibility and shared responsibility is a partnership-based startup. This guide will walk you through the step-by-step process of How to register a partnership-based startup in India while addressing key considerations like trademark, GST, ITR filing, and Company Registration. Step 1: Understand the Concept of a … Read more
For Sartup founders, business owners, and those dealing with legal or financial matters, it is important to know the terms Corporation and Incorporation. Even though they may seem like synonyms, these words bring out two different ideas in business law. This article deals with the Difference between corporation and incorporation while incorporating necessary topics such … Read more
When a person starts to build a business is exciting, but handling the business and all the legal and regulatory steps can feel overwhelming. If you’re an individual entrepreneur looking for a simple and effective way to handle your business, One-Person Company Registration (OPC Registration) might be the perfect option. It offers the benefits of … Read more
The Company Registration Number is a unique number assigned to a business at the time of its registration with the concerned government authorities. It is crucial for several business operations and legal procedures. Being an entrepreneur, investor, or simply someone who wants to check whether a business is genuine or not, they need to know … Read more
Businesses in India are mostly run by a single owner or entity that is operating from different locations or in various industries. It is therefore very important to understand how to add multiple businesses under the same GST number, in order to achieve smooth tax compliance and proper business operation. This article details the process, … Read more
We understand you may find filing for IT returns burdensome, especially if you are young and have barely filed a couple of IT returns. But its benefits are far more than the labor involved in filing it. Also, it is the duty of all the responsible citizens of the country. The income tax laws state … Read more
Value-Added Tax (VAT) is an indirect tax on goods and services applied at each stage of production, ultimately paid by consumers. It varies by state in India, with different rates for essential items (0%), precious goods (1%), basic consumables (4-5%), and general items (12-15%). VAT is calculated as the difference between output and input taxes. … Read more
Filing Income Tax Returns (ITRs) ensures legal compliance, enables tax refunds, and supports financial credibility. ITRs act as income proof, aid in carrying forward losses, and assist in obtaining loans, visas, and government benefits. Timely ITR filing prevents penalties, helps secure insurance, startup funding, and government tenders, fostering financial stability. Why Filing ITRs is Important … Read more
The deadline for individuals required to submit an income tax audit report to file their income tax return (ITR) is October 31, 2024. It is important to note that the Central Board of Direct Taxes (CBDT) has not extended the deadline for those needing an audit to submit their ITR yet. The deadline for filing … Read more
GST in e-commerce simplifies tax compliance for both sellers and buyers, ensuring transparency and reducing tax ambiguities that existed earlier. It streamlines tax collection by defining place-of-supply rules, which clarify whether CGST, SGST, or IGST applies based on transaction location. This clarity helps prevent revenue loss from misapplied taxes. For sellers, GST reduces logistical complexities … Read more