Tax Services Chennai

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...

Benefit of Starting a Business in India by a Foreign Nation NRI "Call Our Business Plan Experts at +91-72999-72500" In recent times, there has been an increased interest from non-resident Indians (NRI) in setting up businesses in the country. This is because the country offers many benefits like low-cost labour, a large population, a market without borders, and a developed economy which make it an attractive place to start a business. However, it is important that NRIs keep in mind the legal requirements and complexities of doing business in India. This article will provide an overview of the steps involved in establishing a business in India as a non-resident Indian. NRI s can start a company in the form of a Private Limited Company or a Limited Liability Partnership depending on the type of business they want to set up.  The first step in establishing a company in India is to get a DIN (Director Identification Number) which can be obtained by providing identit...

GST Registration for Small Business in India "Call Our Business Plan Experts at +91-72999-72500" With a streamlined tax filing process, the goods and services tax (GST) system has encouraged many small-scale start-ups and businesses to materialize in India. The new indirect tax regime has also eliminated multiple taxes, which reduces the intrinsic cost of products and brings in higher price efficiency for consumers. Getting GST registration for your business can help you avail of several benefits such as a collateral-free loan, reduced procedural fees and easier tax compliance. However, it is important to know if your business is eligible for GST registration before you apply. According to the GST law, all businesses whose turnover is above Rs 20 lakh (Rs 10 lakh in special category states) should register for GST. This includes both manufacturing and service sector businesses. Persons supplying goods through e-commerce platforms should also get registered...

Who is liable to Deduct and Pay TDS under the Income Tax Act?  "Call Our Business Plan Experts at +91-72999-72500" TDS stands for "Tax Deducted at Source". The purpose of TDS is to ensure that the Government receives taxes straight from the origin of income. The income tax act lays down that any entity making a payment which is liable to TDS (such as commission or brokerage, fees for technical services, rent of property etc) is required to deduct tax at the time of such payment and deposit it with the Government. This is done with an aim to prevent tax evasion and make sure that the Government gets its due share of taxes. The person who is responsible for deducting tax at the time of payment and depositing it with the government is known as a 'deductor'. On the other hand, the person who receives the payment after the tax is deducted is called a 'deductee'. Individuals who get payments such as salaries, fixed deposits, recurring d...

How Can I Register Udyam for a Private Limited Company?  "Call Our Business Plan Experts at +91-72999-72500" Getting a Udyam for a private limited company is easy with the help of professionals. Moreover, it is affordable and helps in getting the desired benefits for your enterprise. The online process is hassle-free and takes a very short time to get the registration done. This makes the Udyam process an efficient one that is available for entrepreneurs all over the country. You can file for the Udyam through an online portal that is unified with GST and Income Tax systems. This system will verify your investment (plant and machinery or equipment) and turnover details. It will then provide you with a permanent Udyam registration number. This will give you several benefits like direct tax exemptions, interest subsidies on bank loans and more. During the filing process, the portal will ask you to fill out some basic personal details including your PAN ...

How to Register a Digital Marketing Company in India  "Call Our Business Plan Experts at +91-72999-72500" The first step is to get the Expert Consultant registered as a private limited company, LLP or one-person company (OPC). You need to submit the required documents to the Ministry of Corporate Affairs (MCA). You should also apply for DSC and DIN (Director Identification Number) for your business. After that, you should purchase a domain name for your website and create it according to your business requirements. If you're planning to start your own  Digital Marketing Consultant Business India , then you have come to the right place. This article will guide you on how to register a Digital Marketing Company in India.  Once the mandatory documents have been verified, your assigned will apply for DSC and DIN registration. These are two vital registrations needed to open a bank account and complete other important tasks. They'll verify the same and the...