Latest Services http://www.casumanjainassociates.co.in Latest Services Fri, 03 Jul 2020 17:22:12 +0530 en-us http://www.casumanjainassociates.co.in Registration Services http://www.casumanjainassociates.co.in/registration-services.htm http://www.casumanjainassociates.co.in/registration-services.htm Fri, 22 Jun 2018 00:00:00 +0530 Computerized Bookkeeping and Accounting Services http://www.casumanjainassociates.co.in/computerized-bookkeeping-and-accounting-services.htm http://www.casumanjainassociates.co.in/computerized-bookkeeping-and-accounting-services.htm Tue, 23 Jun 2020 00:00:00 +0530 Here’s how it could benefit your business too: Create branded invoices and quotes Quickly generate and customise professional invoices and quotes, then send them by email. Get things done when you are on the go Access real-time customer information and send estimates or invoices from your iPad, iPhone or Android device. Connect to your business bank account Automatically import and reconcile bank account transactions from major banks. QuickBooks Online is # 1 cloud accounting solution for small business worldwide*  DSC Services http://www.casumanjainassociates.co.in/dsc-services-in-baghpat.htm http://www.casumanjainassociates.co.in/dsc-services-in-baghpat.htm Fri, 22 Jun 2018 00:00:00 +0530 Digital signature certificate aka DSC is a secure digital key that certified the identity of the holder. It is issued by a certifying authority with one year validity and two year validity. If you are seeking professional assistance for acquiring any class of DSC without hassles, then come directly to SJ&A. We are based in Baghpat (Uttar Pradesh, India) and can be your trusted partner for acquiring DSC in less time. GST Consultancy Services http://www.casumanjainassociates.co.in/gst-consultancy-services-in-baghpat.htm http://www.casumanjainassociates.co.in/gst-consultancy-services-in-baghpat.htm Tue, 23 Jun 2020 00:00:00 +0530 SJ&A is a bankable name in the service industry and specialized in providing GST Consultancy Services to the clients throughout Baghpat (Uttar Pradesh, India). We are associated with a crew of skilled professionals including tax personnel, who assist clients and guide them in maintaining regulatory compliance and provide advisory to manage their business accordingly. For a detailed discussion, clients can reach us through our contact us page. GST Registration Services http://www.casumanjainassociates.co.in/gst-registration-services-in-baghpat.htm http://www.casumanjainassociates.co.in/gst-registration-services-in-baghpat.htm Tue, 23 Jun 2020 00:00:00 +0530 What is GST RegistrationIn the GST Regime, businesses whose turnover exceeds Rs. 40 lakhs* (Rs 10 lakhs for NE and hill states) is required to register as a normal taxable person. This process of registration is called GST registration. For certain businesses, registration under GST is mandatory. If the organization carries on business without registering under GST, it will be an offence under GST and heavy penalties will apply. GST registration usually takes between 2-6 working days. We’ll help you to register for GST in 3 easy steps. *CBIC has notified the increase in threshold turnover from Rs 20 lakhs to Rs 40 lakhs. The notification will come into effect from 1st April 2019.Who Should Register for GST? Individuals registered under the Pre-GST law (i.e., Excise, VAT, Service Tax etc.) Businesses with turnover above the threshold limit of Rs. 40 Lakhs* (Rs. 10 Lakhs for North-Eastern States, J&K, Himachal Pradesh and Uttarakhand) Casual taxable person / Non-Resident taxable person Agents of a supplier & Input service distributor Those paying tax under the reverse charge mechanism Person who supplies via e-commerce aggregator Every e-commerce aggregator Person supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person CBIC has notified the increase in threshold turnover from Rs 20 lakhs to Rs 40 lakhs. The notification will come into effect from 1st April 2019. Documents Required for GST Registration PAN of the Applicant Aadhaar card Proof of business registration or Incorporation certificate Identity and Address proof of Promoters/Director with Photographs Address proof of the place of business Bank Account statement/Cancelled cheque Digital Signature Letter of Authorization/Board Resolution for Authorized Signatory Penalty for not registering under GST An offender not paying tax or making short payments (genuine errors) has to pay a penalty of 10% of the tax amount due subject to a minimum of Rs.10,000. The penalty will at 100% of the tax amount due when the offender has deliberately evaded paying taxes GST Return Filing Services http://www.casumanjainassociates.co.in/gst-return-filing-services-in-baghpat.htm http://www.casumanjainassociates.co.in/gst-return-filing-services-in-baghpat.htm Tue, 23 Jun 2020 00:00:00 +0530 Filing GST return under the GST regime is crucial as delay or any non-compliance can impose penalties and affect timely returns and your compliance rating. Well, we can help you do it accurately and on time. We, SJ&A based in Baghpat (Uttar Pradesh, India), are providing GST return filing services to the businesses throughout Uttar Pradesh. With our services, we help you file monthly, quarterly and annual GST returns. So, contact us anytime. Income Tax Consultancy Services http://www.casumanjainassociates.co.in/income-tax-consultancy-services-in-baghpat.htm http://www.casumanjainassociates.co.in/income-tax-consultancy-services-in-baghpat.htm Tue, 23 Jun 2020 00:00:00 +0530 We also offer income tax services that comprise taxation on income earned in a financial year a part of which is taxable as per rates prescribed for that year. With the financial year running from 1 April to 31 March of following year, broadly taxpayers are classified as residents or non-residents where the individual taxpayers can be classified as ‘residents but not ordinary residents’. Our team of tax consultants and financial advisors also allows us to offer Income tax consultancy services that are aimed at offering business solutions to Manufacturers, Traders, Dealers as well as Service providers of industry.Residential StatusAn individual is considered resident in India if he is in India in tax year for: 182 days or more; 60 days or more where the period of 60 days stands changed to 182 days or more for – Indian citizens/persons of Indian origins on visit to India For citizens of India leaving India for employment abroad as members of crew of Indian ship during tax year A resident is “not ordinarily resident” in India in any tax year if he: Has been “non-resident” in India in nine out of 10 previous years preceding that year Has during previous seven years, preceding that year been in India for total period of 729 days/less Heads of IncomeIncome is categorized under five broad heads/classes where the taxable component of income is ascertained as per the rules for particular head/class of income followed by aggregation for determining total taxable income. These include: Salaries – Received against services rendered and include wages, pension, fees, commission and taxable value of perquisites. Income from house properties that comprise income that arises from use of residential/commercial properties. Here, only two prescribed deductions are permitted while computing income. Profits and Gains from Business/Profession that covers income earned from business/profession that is net of permissible deductions, against revenue earned. Capital Gains that covers gains which arise from transfer of capital assets and the period of holding determining classification of asset, which then determines manner of taxation. The gains comprise short-term assets and long-term capital assets. Sale of Certain Specified Investments that are subjected to taxation under which tax is levied on value of transaction. Income from Other Sources that are residuary head/class of income covering any income not specifically dealt with under other heads. Rules Governing Foreign NationalsFor foreign nationals, Indian tax law provides exemption of income earned subject to prescribed conditions. This is based on conditions like – Individual’s stay in India does not exceed 90 days Payment made is not deducted in computing income of employer Remuneration received by person employed on foreign ship provided his stay in India not exceeding 90 days Remuneration of foreign diplomats, consular staff, trade officials and their staff and family Income of employee/consultant of government approved foreign charitable institutions CompaniesDomestic Company Income-tax @ 25% of total income for companies having turnover does not exceed 400 crore, in other case 30% Surcharge at the rate of 7% of income tax provided that total income exceeds Rs. 1 crore and 12% in case income exceeds Rs. 10 crore Education Cess @ 4% of total of Income-tax and surcharge Firms Income-tax @ 30% of total income Surcharge at the rate of 12% of income tax provided that total income exceeds Rs. 1 crore Education Cess of 4% of total of Income-tax and surcharge Kinds of Taxes Annual Tax which is levied on income earned in a financial year and is based as per the rates declared in annual budget. With rates varying with each budget, the tax is payable in advance by way of quarterly installments during financial year. Minimum Alternate Tax (MAT) is tax levied @ 19.055% of book profit. Here, the surcharge is at the rate of 7% of such income tax provided that total income exceeds Rs. 1 crore. Further, the Education Cess is @ 4% of total Income-tax and Surcharge. Income Tax Return Filing Services http://www.casumanjainassociates.co.in/income-tax-return-filing-services-in-baghpat.htm http://www.casumanjainassociates.co.in/income-tax-return-filing-services-in-baghpat.htm Tue, 23 Jun 2020 00:00:00 +0530 The Ministry of Finance notified new Return Forms for the AY 2020-21, whereby firms who are liable for tax audit under s.44AB of the Income Tax Act 1961 and Corporate taxpayers mandatory to file their return electronically under digital signature. All other categories of taxpayers (other than charitable trusts, institutions, etc.) could file the return in a paper form or electronically, or in a bar-coded return form. Individual and HUF taxpayers were required to furnish only that information with regard to transactions, which were reported through Annual Information Returns (AIR). CBDT Introduces New Series of Forms for Filing of Income Tax Return for the Assessment Year 2020-21 The Forms for Return of Income are assessment year specific. For the assessment year 2020-21, the Central Board of Direct Taxes have introduced the following eight Return Forms under a new series.Last year, electronic filing was made compulsory for corporate tax-payers. E-filing of corporate returns has been a resounding success. Therefore, it is important to carry forward this successful initiative. In the Budget Speech – 2007, the Finance Minister had announced that electronic filing of returns would be made mandatory for more categories of taxpayers. Accordingly, for assessment year 2009-10, it would be mandatory for firms liable to tax audit under section 44AB to file their returns electronically. Corporate taxpayers and such firms may either file their return electronically under digital signature or may transmit the data of the return electronically and thereafter submit a one page verification Form which contains a summary of the return transmitted electronically.All other categories of taxpayers (other than charitable trusts, institutions, etc.) will have the option to file the return in a paper form or electronically, as mentioned above, or in a bar-coded return form. Last year, the Government had introduced a cash flow statement for Individuals and HUFs. However, in response to representations against the cash flow statement, the same has been withdrawn. Individual and HUF taxpayers would now be required to furnish only information with regard to transactions which are reported through Annual Information Returns (AIR). Pan Card Registration Services http://www.casumanjainassociates.co.in/pan-card-registration-services-in-baghpat.htm http://www.casumanjainassociates.co.in/pan-card-registration-services-in-baghpat.htm Tue, 23 Jun 2020 00:00:00 +0530 We offer clients services for getting Pan (Permanent Account Number). It is required as per the latest requirement of Income Tax Act. PAN is a number that is used by Income Tax Department for identifying a person as well as through this number get complete information about the assessed person. As a 10 digit alphanumeric number, it comes printed on laminated card and features information like PAN number, name of applicant, father’s name, date of birth and also carries passport size photo for identification purposes.PAN number has replaced General Index Registrar (GIR) Number which is provided by assessing officer to assessed and contains details of assessing officer. Based on the section 139A of Income Tax Act, 1961, PAN is required for the following: For filing income tax returns For undertaking any correspondence with income tax department For submitting challans for payment of tax levied to the department For conducting verification of identity of assessed in income tax department ROC Filing Services http://www.casumanjainassociates.co.in/roc-filing-services-in-baghpat.htm http://www.casumanjainassociates.co.in/roc-filing-services-in-baghpat.htm Tue, 23 Jun 2020 00:00:00 +0530 According to companies act, it is mandatory for every company to file an annual return. If you are seeking professional assistance for doing the same, look no further than SJ&A. Ours is a Baghpat (Uttar Pradesh, India) based service provider agency and can be trusted for carrying out each and every aspect of your ROC filing needs. We render services in accordance to the stated industry norms. Clients can contact us anytime for further discussion. Statutory Audit Services http://www.casumanjainassociates.co.in/statutory-audit-services-in-baghpat.htm http://www.casumanjainassociates.co.in/statutory-audit-services-in-baghpat.htm Tue, 23 Jun 2020 00:00:00 +0530 By the meaning of word the statutory audit in India is the audit which is prescribed by statute. There is many audit in India which is prescribed by the different statute like Income Tax Act require audit as per him similarly VAT Act require audit as per him so a CA need to conduct many audit as per different statute requirement. But known and popular terms used as a statutory audit is not an audit as required under Income Tax Act or VAT Act. It is similar different thing and it is required under the law of incorporating act like if company then audit required under Companies Act and if other body then body incorporated under that act. In India mainly statutory audit means audit under Companies Act in which auditor reports to the member of the company i.e. shareholders.How we do? Statutory Audit Execution General Process Our firm is well equipped and well experienced in Statutory Audit and we perform it as per the Audit Program designed for the company after assessment of their Internal Control.Steps generally we follow: Getting Appointment Letter & Board Resolution Copy Getting NOC from Previous Auditor Filing our no disqualification status to the company Filing of Form 23B to ROC Getting Letter of Engagement Assessment of Internal Control Formulation of Internal Audit Program Action Plan and Calendar Conduction Audit as per IGAAP Companies Act ICAI Accounting Standards and Auditing Standards Forming an opinion on financial statement prepared by the company Reporting to Shareholders Attending AGM Tax Audit Services http://www.casumanjainassociates.co.in/tax-audit-services-in-baghpat.htm http://www.casumanjainassociates.co.in/tax-audit-services-in-baghpat.htm Tue, 23 Jun 2020 00:00:00 +0530 Tax Audit comes under the purview of Section 44AB of the Act which specifies the persons who are required to get audit of their books of accounts. This section specifies particularly that except for the persons coming under the purview of the sections mentioned in the text of Section 44AB , all other have to get their accounts audited under Section 44AB. The object of audit under section 44AB is only to assist the Assessing Officer in computing the total income of an assessee in accordance with different provisions of the Act.This Audit effectively curbs tax Evasion and ensure tax compliance.  Therefore, Even though the income of a person is below the taxable limit, he will have to get his accounts audited and if his turnover in business exceeds the prescribed limit. If Assessing Officer wants the assessee to get his accounts audited in cases where the figures of turnover as appearing in the books of account of the assessee do not exceed the prescribed limits, he has no option but to pass an order under section 142(2A) directing the assessee to get his accounts audited from a chartered accountant as may be nominated by the Commissioner of Income-tax or the Chief Commissioner of Income-tax Hence, it must also be understood that the issue whether the turnover/gross receipt exceeds the prescribed limit is to be determined in each year independent of the results obtained in the preceding year or years.  This section applies only if turnover/gross receipt exceeds the prescribed limit according to the accounts maintained by the assessee.  It would be advisable to maintain basic records to support the turnover/gross receipt for declare audit required or not. Analysis of Section 44AB: Applicability: This section is applicable to every person: Carrying on business shall, if his total sales, turnover or gross receipts, as the case may be, in business exceed or exceeds one crore rupees in any previous year; or Carrying on profession shall, if his gross receipts in profession exceed fifty lakh rupees in any previous year; or Carrying on business as specified under Section(s) 44AE, 44BB, 44BBB and declared profit less then as specified in the respective sections Carrying on business/profession as specified under Section 44AD, 44ADA and income exceeds the limits as specified in the respective sections Deriving income under Sections 44B, 44BBA and declared profit less than the limits specified Penalty for failure to get accounts audited:If any person who is required to get his accounts audited by an Accountant as compliance provision of 44AB,  before the specified date fails to do so shall be liable for penalty under section 271B.  The amount of penalty shall be one-half percent of turnover / gross receipts or Rs.150000/- whichever is lower.  This penalty shows the seriousness that the Government affixes towards Tax Audit under section 44AB. Direct Tax Services http://www.casumanjainassociates.co.in/direct-tax-services.htm http://www.casumanjainassociates.co.in/direct-tax-services.htm Tue, 23 Jun 2020 00:00:00 +0530 We are a leading name in the field of offering Direct Tax Consultancy Services. Our direct tax services have helped a lot of small & medium entrepreneurs. This taxation is levied by Central Government. The direct tax services are based on a series of tax reforms that were introduced since early 1990’s where the focus of reforms is on rationalization of tax rates as well as in simplification of procedures. These direct taxes are levied by central, state and local government bodies and comprise principal taxes including – Corporate tax Income Tax Transfer Pricing GAAR We also offer customers direct tax consultancy support that is based on evolving taxation strategy that optimizes tax incidence through application of – Tax incentives Tax holidays and benefits Double tax treaty networks Use of intermediate companies Transfer pricing and other options Comprehensive worldwide tax planning Inbound and outbound investments Structuring of managerial remuneration Other than this, the services also include Direct Tax compliance and litigation support, International Tax Advisory, Transfer Pricing Advisory and Foreign Institutional Investor Services. TAN Registration Services http://www.casumanjainassociates.co.in/tan-registration-services.htm http://www.casumanjainassociates.co.in/tan-registration-services.htm Tue, 23 Jun 2020 00:00:00 +0530 TAN number is used for deduction of taxes and is required if you are – Paying salary Making payments in form of consultancy fees, rent, contractual payments With the tax deducted at source and paid to Income Tax Department, it is mandatory to deducting taxes and is quoted in TDS/TCS return including in – e-TDS/TCS return TDS/TCS payment challan TDS/TCS certificates TAN is 10 digit alpha numeric number that is needed by all persons responsible for deducting/collecting tax and as per Income Tax Act, 1961 is required by persons making payment/crediting income of specified type to another person. Here the payee deducts a specified amount payable/creditable at time of making payment/giving credit (whichever is earlier) and deposit sum deducted (TDS). Prior to making deductions, persons need to apply to assessing Officer for allotment of tax deduction account number (TAN) under section 203A of the Income Tax Act.TAN in quoted in following documents: Challans while depositing deducted tax Certificates issued against tax deducted Returns furnished in respect of tax deducted at source Other documents that pertain to transactions as may be prescribed eTDS Registration Services http://www.casumanjainassociates.co.in/etds-registration-services.htm http://www.casumanjainassociates.co.in/etds-registration-services.htm Tue, 23 Jun 2020 00:00:00 +0530 We offer clients competent service support for filing of eTDS. It is submitting TDS through electronics means and has emerged as convenient modes of collection of tax affected at the source from assessed in India. Here, in events where specified income is generated as per the Income-tax Act, the payer of such income needs to deduct stipulated percentage of such income through Income-tax and pay balance amount to the recipient. This dedicated tax is deducted at source by payer and is deposited in Government treasury through the means of eTDS. eTDS is deducted from income of recipient as payment of Income-tax by recipient at time of assessment.There are several listed income sources that are subjected to tax deduction at source and is presently also used as instrument to enlarge tax base like – Salary Interest/Dividend Interest on securities Winnings from lottery Commission & brokerage Rent Fees for professional & technical services As a form of Advance tax paid to government, E-TDS returns are prepared in form No. 24, 26 or 27 as per Govt. of India Income Tax Act. Under this act, all Government & Corporate deductors/collectors need to file TDS (Income Tax Deducted at Source) returns on electronic media. Here, our expertise lies in providing services in preparation of e-TDS through – Quarterly returns Annual filings Company Law Consultancy Services http://www.casumanjainassociates.co.in/company-law-consultancy-services.htm http://www.casumanjainassociates.co.in/company-law-consultancy-services.htm Tue, 23 Jun 2020 00:00:00 +0530 We are a leading name in the field of offering Company Law Consultancy Services. With Companies functioning in India governed by Companies Act, 2013, each company needs to get registered with Registrar of Companies (ROC) and file necessary documents for different statutory requirements.Mainly, Indian companies are of two types Where maximum numbers of members are 50 It prohibits any invitation to public to subscribe shares/debentures Restrict right to transfer its shares Public Limited Company Invite public to subscribe shares or debentures No limit on maximum members Formation of Private/ Public Limited companyThe process that involves formation of Private/ Public Limited company include drafting of memorandum & article of association of companies and converting a Private Company into Public company and Public Ltd. into a Private Ltd. The other steps that are part of formation include Changing name of company, Change of registered office, Alteration of main object of company and inclusion of new business in memorandum of company, Statutory meeting & report, Appointment of directors and their remuneration, Holding & subsidiary company, Inter corporate investments; Amalgamation, merger and acquisition of companies; Payment of dividend by companies Further, the Company Law consultancy services offered are designed to serve the demands of all big and small type of companies regardless of size who are regulated by Companies Acts 2013. Other than this, the Company Law Matters Consultancy service offered takes care of company’s legal compliance.Here, our team of experts assists firms to – Interpret and comply with rules and regulations Smoothly continue to operate in chosen sectors Some of the sections of Companies Act where we hold expertise in providing guidance/assistance/interpretation to Company Law include: Company formation – Company secretarial matters like necessary companies House filings Accounting matters like statutory disclosures, deadlines and exemptions Matters affecting share capital and distributions Statutory Audit – Statutory provisions that relate to different meetings like Statutory Meetings, Board Meetings Seeking Licenses and Approvals for start-up Other different provisions as applicable to Company Indirect Tax Services http://www.casumanjainassociates.co.in/indirect-tax-services.htm http://www.casumanjainassociates.co.in/indirect-tax-services.htm Tue, 23 Jun 2020 00:00:00 +0530 Types of GST ReturnsGSTR-1 GSTR-1 is the return to be furnished for reporting details of all outward supplies of goods and services made, or in other words, sales transactions made during a tax period, and also for reporting debit and credit notes issued. Any amendments to sales invoices made, even pertaining to previous tax periods, should be reported in the GSTR-1 return. GSTR-1 is to be filed by all normal taxpayers who are registered under GST. It is to be filed monthly, except in the case of small taxpayers with turnover up to Rs.1.5 crore in the previous financial year, who can file the same on a quarterly basis. GSTR-2AGSTR-2A is the return containing details of all inward supplies of goods and services i.e. purchases made from registered suppliers during a tax period. The data is auto-populated based on data filed by the suppliers in their GSTR-1 return. GSTR-2A is a read-only return and no action can be taken.GSTR-2 GSTR-2 is the return for reporting the inward supplies of goods and services i.e. the purchases made during a tax period. The details in the GSTR-2 return are auto-populated from the GSTR-2A. Unlike GSTR-2A, the GSTR-2 return can be edited. GSTR-2 is to be filed by all normal taxpayers registered under GST, however, the filing of the same has been suspended ever since the inception of GST. GSTR-3 GSTR-3 is a monthly summary return for furnishing summarized details of all outward supplies made, inward supplies received and input tax credit claimed, along with details of the tax liability and taxes paid. This return is auto-generated on the basis of the GSTR-1 and GSTR-2 returns filed. GSTR-3 is to be filed by all normal taxpayers registered under GST, however, the filing of the same has been suspended ever since the inception of GST. GSTR-3B GSTR-3B is a monthly self-declaration to be filed, for furnishing summarized details of all outward supplies made, input tax credit claimed, tax liability ascertained and taxes paid. GSTR-3B is to be filed by all normal taxpayers registered under GST. GSTR-4 / CMP-08 GSTR-4 is the return that was to be filed by taxpayers who have opted for the Composition Scheme under GST. CMP-08 is the return which has replaced the now erstwhile GSTR-4. The Composition Scheme is a scheme in which taxpayers with turnover up to Rs.1.5 crores can opt into and pay taxes at a fixed rate on the turnover declared. The CMP-08 return is to be filed on a quarterly basis. GSTR-5 GSTR-5 is the return to be filed by non-resident foreign taxpayers, who are registered under GST and carry out business transactions in India. The return contains details of all outward supplies made, inward supplies received, credit/debit notes, tax liability and taxes paid. The GSTR-5 return is to be filed monthly for each month that the taxpayer is registered under GST in India. GSTR-6GSTR-6 is a monthly return to be filed by an Input Service Distributor (ISD). It will contain details of input tax credit received and distributed by the ISD. It will further contain details of all documents issued for the distribution of input credit and the manner of distribution.GSTR-7GSTR-7 is a monthly return to be filed by persons required to deduct TDS (Tax deducted at source) under GST. GSTR 7 will contain details of TDS deducted, the TDS liability payable and paid and TDS refund claimed, if any.GSTR-8 GSTR-8 is a monthly return to be filed by e-commerce operators registered under the GST who are required to collect tax at source (TCS). GSTR-8 will contain details of all supplies made through the E-commerce platform, and the TCS collected on the same. The GSTR-8 return is to be filed on a monthly basis. GSTR-9 GSTR-9 is the annual return to be filed by taxpayers registered under GST. It will contain details of all outward supplies made, inward supplies received during the relevant previous year under different tax heads i.e. CGST, SGST & IGST and HSN codes, along with details of taxes payable and paid. It is a consolidation of all the monthly or quarterly returns (GSTR-1, GSTR-2A, GSTR-3B) filed during that year. GSTR-9 is required to be filed by all taxpayers registered under GST*, except taxpayers who have opted for the Composition Scheme, Casual Taxable Persons, Input Service Distributors, Non-resident Taxable Persons and persons paying TDS under section 51 of CGST Act. *As per the CBIC notification 47/2019, the annual return under GST for taxpayers having an aggregate turnover which does not exceed Rs.2 crore has been made optional for FY 2017-18 and FY 2018-19. GSTR-9A GSTR-9A is the annual return to be filed by taxpayers who have registered under the Composition Scheme in a financial year*. It is a consolidation of all the quarterly returns filed during that financial year. *GSTR-9A filing for Composition taxpayers has been waived off for FY 2017-18 and FY 2018-19 as per the decision taken in the 27th GST Council meeting. GSTR-9C GSTR-9C is the reconciliation statement to be filed by all taxpayers registered under GST whose turnover exceeds Rs.2 crore in a financial year. The registered person has to get their books of accounts audited by a Chartered/Cost Accountant. The statement of reconciliation is between these audited financial statements of the taxpayer and the annual return GSTR-9 that has been filed. GSTR-9C is to be filed for every GSTIN, hence, one PAN can have multiple GSTR-9C forms being filed. As per the CBIC notification 16/2020, GSTR-9C is waived off for the taxpayers with an aggregate turnover of more than Rs 5 crore for the financial year 2018-19. GSTR-10GSTR-10 is to be filed by a taxable person whose registered has been cancelled or surrendered. This return is also called a final return and has to be filed within 3 months from the date of cancellation or cancellation order, whichever is earlier.GSTR-11GSTR-11 is the return to be filed by persons who have been issued a Unique Identity Number(UIN) in order to get a refund under GST for the goods and services purchased by them in India. UIN is a classification made for foreign diplomatic missions and embassies not liable to tax in India, for the purpose of getting a refund of taxes. GSTR-11 will contain details of inward supplies received and refund claimed. LLP Registration Services http://www.casumanjainassociates.co.in/llp-registration-services.htm http://www.casumanjainassociates.co.in/llp-registration-services.htm Tue, 23 Jun 2020 00:00:00 +0530 Pre-requisites for registering a LLP- Minimum 2 Partners (Individual or body corporate) Minimum 2 Designated Partners who are individuals and at least one of them should be resident in India. Digital Signature Certificate LLP Name LLP Agreement Registered Office Pre-requisites for registering a LLPAn LLP should have minimum 2 partners. In case any Body Corporate is a partner, then it will be required to nominate any person (natural) as its nominee for the purpose of the LLP.Partner of LLP can be consisted of Companies incorporated in and outside India LLP incorporated in and outside India Individuals Resident in and outside India Partners of LLPEvery LLP should have minimum 2 designated partners who are individuals and at least one of them should be resident in India. A person or nominee of a body corporate, intending to be appointed as who is appointed as designated partner of LLP should hold a Designated Partner Identification Number (DPIN) allotted by the Ministry of Corporate Affairs. DPIN can be obtained by submitting application along with address proof and identity proof of the individuals.Digital Signature CertificateAll forms for registration of LLP shall be filed online after signing digitally and for this purpose, one of the designated partners shall take digital signature certificate.LLP NameSelection of business name is crucial for the image of your venture. You select a name which reflects the business you plan. Ensure selected name satisfy LLP Name Guidelines of Ministry of Corporate Affairs.LLP AgreementLike partnership, partners of LLP can frame agreement for defining their terms, profit sharing ratio etc. The basic contents of Agreement are, Name of LLP, Name of Partners and Designated Partners, and Form of contribution, Profit Sharing ratio and Rights and Duties of Partners. In case no agreement is entered into, the rights & duties as prescribed under Schedule I to the LLP Act shall be applicable. It is possible to amend the LLP Agreement but every change made in the said agreement must be intimated to the Registrar of Companies.Registered OfficeThe Registered office of the LLP is the place where all correspondence related with the LLP would take place, though the LLP can also prescribe any other for the same. A registered office is required for following purposes. At the time of incorporation, it is necessary to submit proof of ownership or right to use the office as its registered office with the Registrar of Companies. LLP Formation Services http://www.casumanjainassociates.co.in/llp-formation-services.htm http://www.casumanjainassociates.co.in/llp-formation-services.htm Tue, 23 Jun 2020 00:00:00 +0530 Stage I – PartnersTo form a LLP, there Minimum two partners and at least two shall be designated partners having DIPN. In case of body corporate as partners, their nominee can be act as designated partners. Out of two designated partners, one must be resident in India. (Who has stayed in India for a period of not less than one hundred and eighty two days during the immediately preceding financial year)Stage II – Obtaining DPIN & Digital SignatureDPIN can be obtained by making an application online with www.llp.gov.in After submitting the online application, signed physical copy of Form 7 has to be submitted to Ministry of Corporate Affairs along with certified copies of address proof and Identity proof of the applicant. Digital Signature can be obtained from any of the Certifying Authorities in India.Stage III – Name filingAfter finalization of name, an application of name availability has to be filed in form 1 with www.llp.gov.in for approval. Please note that selection of name is subject to Guidelines issued by MCA.Stage IV – AgreementLLP agreement has to be drafted line with LLP Act. It is not mandatory to file LLP agreement at the time of registration and same can be file with in 30 days. If no agreement is framed, provisions of Schedule I of the LLP Act shall be applicable.Stage V – Filing of Incorporation DocumentsThe following documents along with required attachments has to be filed Above said documents are required to be filed after signing digitally. After verification, registrar will register all documents and issue Certificate of Incorporation. LLP Online Registration Services http://www.casumanjainassociates.co.in/llp-online-registration-services.htm http://www.casumanjainassociates.co.in/llp-online-registration-services.htm Tue, 23 Jun 2020 00:00:00 +0530 CompaniesInn, the first LLP online registration portal offers following LLP Services.Name Reservation ServiceLLP Act 2008 provides special provisions for the Intellectual Property for Foreign Companies/LLP. Foreign Companies/LLP interested in establishing LLP in India can reserve its existing name by which it is registered in the country of its regulation or incorporation for forming an LLP in future on payment of fees of INR 10,000. No LLP will be formed with the reserved name during the course of reservation. The reservation is for a period of three years and can be renewed on fresh application with fees of INR.5,000.LLP Agreement Drafting ServiceLLP is governed by LLP Act, 2008 and the LLP agreement. Our experienced team of legal professionals can help you to draft LLp Agreement taking into account of requirements and applicable law. A well drafted agreement will help smooth running of your LLP.Annual Filing ServicesUnder LLP act, it is mandatory to file accounts and annual return with Registrar of LLP. CompaniesInn can help you in filing returns in time and thus avoid penalty.Induction of New Partners and changes thereofIn terms of LLP law, induction of partners and changes there of has to be intimated to Registrar by filing specified returns. Our LLP law experts can assist you in inducting new partners and effect the changes in partners.Other LLP Services Companies offers following LLP Services as well. Conversion of Firms / Companies to LLP Conversion of LLP to Company (under Part IX of the Companies Act,1956 Compromise, Arrangement or Reconstruction of Limited Liability Partnerships Payroll Processing Service http://www.casumanjainassociates.co.in/payroll-processing-service.htm http://www.casumanjainassociates.co.in/payroll-processing-service.htm Tue, 23 Jun 2020 00:00:00 +0530 Payroll processing is an important function for any business organization. It requires specialized knowledge and a clear understanding of the laws applicable in payroll processing. We provide a wide-range of payroll services to our clients. Our approach to payroll services involves appropriate planning for salary structure self serviced online access to employees and support to the organization from start to finish. Whether you’re a small business or a mid-sized business owner with payroll processing, tax filing and HR management, we have a comprehensive and affordable solution for you. We have a pan-India presence that enables us to serve the clients across the country.Our services mainly include –Payroll Processing Assistance in statutory compliances in relation to payroll services. Assistance in tax issues related to payroll of individuals. Personal employee support services concerning their payroll matters. We can customize our services to meet your particular requirements and can address your queries related to payroll matters. Our dedicated team of experienced professionals with extensive knowledge of methods relating to payroll processing can provide you with a full-fledged payroll services for all your employees and your top management. Partnership Firm Registration Services http://www.casumanjainassociates.co.in/partnership-firm-registration-services.htm http://www.casumanjainassociates.co.in/partnership-firm-registration-services.htm Tue, 23 Jun 2020 00:00:00 +0530 What is a General Partnership?A General Partnership is a business structure in which two or more individuals manage and operate a business in accordance with the terms and objectives set out in the Partnership Deed. This structure is thought to have lost its relevance since the introduction of the Limited Liability Partnership (LLP) because its partners have unlimited liability, which means they are personally liable for the debts of the business. However, low costs, ease of setting up and minimal compliance requirements make it a sensible option for some, such as home businesses that are unlikely to take on any debt. Registration is optional for General Partnerships.Essential Facts on PartnershipWhat is a partnership firm?A partnership firm is a business structure in which two or more individuals manage and operate a business in accordance with the terms and objectives set out in a Partnership Deed that may or may not be registered. In such a business, the members are individually partners and share the liabilities as well as profits of the firm in a predetermined ratio.Why should I set up a partnership firm?A partnership firm is best for small businesses that plan to remain small. Low costs, ease of setting up and minimal compliance requirements make it a sensible option for such businesses. Registration is optional for General Partnerships. It is governed by Section 4 of the Partnership Act, 1932. For larger businesses, it has lost its relevance with the introduction of the Limited Liability Partnership (LLP).. This is because an LLP retains the low costs of a partnership while providing the benefit of unlimited liability, which means that partners are not personally liable for the debts of the business.Is a partnership firm a separate entity?The partners in a partnership firm are the owners, and thus, are not a separate entity from the firm. Any legal issues or debt incurred by the firm is the responsibility of its owners, the partners.How many partners can there be?A partnership must have at least two partners. A partnership firm in the banking business can have up to 10 partners, while those engaged in any other business can have 20 partners. These partners can divide profits and losses equally or unequally.Is partnership firm registration necessary?No, partnership registration is not necessary. However, it is advisable for you to have a partnership firm registration online. Also, remember that for a partner to sue another partner or the firm itself, the partnership should be registered. Moreover, for the partnership to bring any suit to court, the firm should be registered. For this reason, it is recommended that larger businesses register the partnership deed.What are the main aspects of a partnership deed?The deed should contain names of the partners and their addresses, the partnership name, the date of commencement of operation of the firm, any capital invested by each partner, the type of partnership and profit-sharing matrix, rules and regulations to be followed for intake of partners or removal.Documents Required for Partnership Registration Form No. 1 (Application for registration under Partnership Act) Original copy of Partnership Deed, signed by all partners Affidavit declaring intention to become partner Rental or lease agreement of the property/campus on which the business is set Benefits of a PartnershipMinimum ComplianceFor General Partnerships, there is no need for an auditor to be appointed or, if the company is still in the process of registration or incase unregistered, annual accounts filing with the registrar is not necessary either. When compared to LLP, annual compliances are also fewer. Further, taxes depending on turnover, service and sales tax also need not be filed in General Partnerships.Simple To BeginGeneral Partnerships can begin simply with an unregistered deed of the partnership within 2-4 business days. However, having registration for the same has its own perks and advantages. The primary advantage for having a registered firm is that it will allow you to book lawsuits in courtrooms opposing another business or the business associates in the firm for the administration of rights addressed in the Partnership Act.Comparatively EconomicalIn comparison to LLP, a General Partnership is much cheaper to begin. Even in the longer run, it will still work out inexpensive as the compliance requirements are very minimal. For example, there is no need for an auditor. Therefore, Home businesses still opt for this, although it offers unlimited liability.