Complaince Calendar for the month of January 2021

07.01.2021 • Payment of TDS/TCS deducted /collected in December 2020. 10.01.2021 • GSTR 7 for December 2020 • GSTR 8 for December 2020 • Form- 1 to 7 for FY 2019-20 for Filing ITR for AY 2020-2021 for non-audit cases. (extended due date) • Form- 1 to 7 for FY 2019-20...

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Business registration in India

Particulars Partnership Firm Limited Liability Partnership Private Limited Company Recommended for Home businesses Professional services firms Start-ups and growing companies Ease of Accommodating Investment Almost impossible Possible, but unlikely Very easy to...

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Types of business registration in India

The Indian promoters and the foreign promoters can form the following business entities:  Private Limited Company,  Public Limited Company,  Limited Liability Partnership, Unlimited Company, Partnership and Sole Proprietorship. The foreign companies also have the...

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Business registration fees in India

The cost is shown in INR. The cost of registration depends upon the share capital contribution as well since the stamp duty increases with the increase in capital contribution. Why choose Accountingbuzz to register your business online? We provide services which are...

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Benefits of outsourcing bookkeeping and accounting

If your business’ goal is to grow, then you want to have a proactive bookkeeping and accounting solution. Here are the benefits that a business will have: Privacy When it involves a business or organization’s finances, there’s tons of data that has got to be kept...

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Registration of a small business in India

The various type of entity that a small business owner can register the business are: Firm LLP Company A Partnership firm has no legal entity distinct from its partners. In partnership each partner has unlimited liability and is personally liable for all the debts of...

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old scheme or switch to new scheme of Income Tax?

The Budget 2020 has introduced a New Tax Regime in addition to the existing, i.e. Old Tax Regime. However, the New Tax Regime is optional. To put it simply, the assessee can choose between the New Tax Regime and the Old Tax Regime depending on what is best suitable...

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Small business registration in India

Type of business registration is different depending upon the business of the owners and their goal for business.  The Indian promoters and the foreign promoters can form the following business entities:  Private Limited Company,  Public Limited Company,  Limited...

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When to get tax audit done?

What is tax audit? Section 44AB gives the provisions relating to the class of taxpayers who are required to get their accounts audited from a chartered accountant. The audit under section 44AB aims to ascertain the compliance of various provisions of the Income-tax...

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Registration of business licenses in India

Basic registration for carrying out  business in India are: Trademark registration if you want to register trademark of its business logo or name GST Registration (For sale of Goods- If Aggregate T/o exceeds 40 lakhs in Normal category states and 20 lakhs in special...

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Failed to get Accounts Audited under section 44AB

Tax payers who are required to get their Accounts Audited under section 44AB are required by their Chartered Accountant to file form 3CA3CB / 3CB3CD within the due dates as provided in the Act. If the above form is not filed, the Assessing officer may direct that such...

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Business registration certificate in India

In this article we will look at various type of company that can be incorporated along with the final registration certificate when application is approved by the authority. Types of company that a person can incorporate in India to run a business are: Type...

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Tax Benefits under NPS

What is NPS (National Pension Scheme) The National Pension Scheme is a social security initiative by the Central Government. This pension program is open to employees from the public, private and even the unorganized sectors with the exception of those from the armed...

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Benefits of opting for cloud accounting

As we know due to covid-19 pandemic everyone is forced to work from home. In such scenario cloud accounting has emerged as one of the best tool for businesses to manage accountings and bookkeeping needs. Indian outsourcing providers have expertise in using all the...

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