Tax Services Chennai

How to Create a Business Plan for a New Company in India? "Call Our Business Plan Experts at +91-72999-72500" Creating a business plan for a new company can seem like a daunting task, especially when you're looking to attract investors. However, a well-written business plan can help you set your goals, evaluate your progress, and make decisions that will benefit the company's future. In this article, we'll discuss the essential elements of a good business plan and provide some tips on how to create your own. We'll also talk about some of the reasons why a business plan is so important, and how it can help you succeed as an entrepreneur in India. A business plan is a document that details the goals, strategies, and tactics that a company uses to achieve its goals. It includes a description of the company, its products or services, and a financial analysis . The financial analysis outlines the one-time and recurring costs associated with running...

Who Are Liable to File ROC Annual Returns in India 2023? "Call Our Business Plan Experts at +91-72999-72500" A key aspect of business operations and compliance is ROC filing, which involves submitting essential documents and financial statements to the Registrar of Companies. This process is mandatory for all companies registered under the Companies Act and ensures transparency, accountability, and compliance with statutory regulations. The ROC Annual filing process involves a variety of steps, including gathering documentation, verifying and preparing financial documents, and uploading the final forms to the MCA portal. The submission must also include a fee payment and the verification of the filed documents by a certified professional such as a Company Secretary or Chartered Accountant. For example, a private limited company is required to submit Form 11 and Form 8 to the ROC  within 30 days of the AGM. This is in addition to submitting their ITR a...

Is it Necessary to Register a Start-up in India? "Call Our Business Plan Experts at +91-72999-72500" Getting your business idea to become a reality takes a lot of work and commitment. Oftentimes, the biggest challenge lies in finding funding. It is not uncommon for many startups to fail within the first five years due to lack of funds. The good news is that with a little bit of research, you can find the best financing options available to ensure your startup is set up for success. To qualify as a startup, your company must meet several requirements and eligibility criteria. You must be a private limited or a partnership firm with a turnover of less than Rs 100 crore in the past financial year and have a scalable business model that has the potential to generate employment and wealth. Additionally, you must be working towards innovation, development or deployment of a new product or service driven by technology. It is essential to register your company ...

A Successful Business Ideas for Small Business Entrepreneurs in India "Call Our Business Plan Experts at +91-72999-72500" A common reason for business failure is under capitalization. This is when the owner has not raised enough money to meet anticipated revenue and start up expenses.  One way to avoid this problem is to conduct market research before launching a new business. This can help to produce an appropriate marketing mix and boost sales. One of the most important is finding a  good business idea . This means choosing an idea that fits your skills and interests. It should also be profitable and fill a gap in the market. This will make it easier to attract investors. Online Business An online business is an excellent choice for small business entrepreneurs in India because it's relatively inexpensive to start. You don't have to rent an office space, purchase inventory or hire employees. You can also sell digital products, such as software ...

10 Common Mistakes to Avoid While Filing GST Returns in India GST is a complex tax system with multiple forms, formats and rules. Due to the sheer number of data points taxpayers have to input it's not surprising that human errors are a part of the process. But if these errors are not corrected on time they can lead to serious consequences and compliance issues. Taxpayers often assume that if they have no transactions in a particular period, there is no need to file a  GST return .  One of the most common mistakes that taxpayers make is not verifying the invoice details before submitting them in GSTR-1. This can result in a mismatch between the details filed in GSTR-1 and the data that is auto-populated in GSTR-3B. It is also important to check for incorrect HSN/SAC codes as these can result in erroneous calculation of tax. Another mistake that many taxpayers make is not reporting exempted or nil-rated turnover in GSTR-1. This can lead to an unfavourable cash...

Importance of Start-up India Registration "Call Our Business Plan Experts at +91-72999-72500" The Government of India has recognised startup companies that have a significant potential to grow, and has introduced the Startup India initiative in 2016. The scheme offers multiple opportunities and recognition to startups.  It also provides several benefits, like tax exemptions, mentorship programs and funding opportunities.  The government has established an online portal for  Startup India registration , which simplifies the process and makes it quick and easy to register your business.  It also facilitates networking with other entrepreneurs, investors and industry experts. To qualify for the Startup India scheme, the enterprise must be a new business or not older than five years and should have the following requirements: The firm must be a private limited company or a partnership firm. The firm must be working towards innovation, development or commerci...