GST Registration Online: SuperCA

Within a few days of announcing various amendments to Form 26AS, the Income Tax Department has rolled out the new Annual Information Statement(AIS) on the Compliance Portal. It provides a comprehensive view of information to taxpayers, with the facility to capture online feedback. It includes detailed information of a taxpayer’s foreign remittance, mutual fund and other securities transactions, apart from details of the tax collected at source (TCS) and tax deducted at source (TDS).   The purpose of introducing the new AIS is to make taxpayers’ ITR return filing easier. New AIS not only contains a comprehensive outlay of the taxpayer information but also allows the taxpayer to submit feedback on the provided information What is AIS (Annual Information Statement)? AIS is a revised version and much more detailed than that of the existing Form 26AS. It will include various financial details of the taxpayers along with that of TCS and TDS. The main motive is to get a more simplified a...

Company Registration is the overriding and most important step for any business organization. In order to protect your business and secure its rights, company registration is very essential. It shields the business from personal liability and protects from other risks and losses and at the same time provides more customer attraction, promotes greater capital contribution and greater stability and increases the company's perspective to expand and grow. Choosing a company's name is a cautious step in the company registration process . It is very crucial to choose your business structure and its name as it indirectly affects your business. Thus, before going for company registration , you should have clarity on the kind of business you are into, the name, your goals and objectives since each of these has its own implications.  The name  of a company is something that needs to be unique, desirable and one of its kind to make it stand out from the rest. Hence, there are spec...

Director identification number (DIN) refers to a unique identification number that is given to a person desiring to be a director or an existing director. Through DIN, details of the directors are maintained in a database. It is an 8-digit unique identification number and has lifetime validity. The concept of a Director Identification Number (DIN) has been introduced for the first time with the insertion of Sections 266A to 266G of Companies (Amendment) Act, 2006. As such, all the existing and intending Directors have to obtain DIN within the prescribed time frame as notified. In this digitised era, application in eForm DIR-3 was sufficient to obtain DIN. For any individual who wants to be a director in one or more companies, this was only a one time process. However, now with the move of the MCA to update its registry, all directors with a DIN will have to update their KYC details annually in eForm DIR-3 KYC. This annual KYC for all DIN holders has been made mandatory by the MCA w.e.f...

A registered office of a company is a location where all the Legal and government communication related to business is held. It acts as the official address of the company recorded with the Registrar of Companies (RoC), India, where all communications are sent. While going for company registration , it is mandatory to declare the registered office of the company and to submit the relevant documents as proof. However, the Companies Act, 2013 also provides the option for the company to declare a temporary address in case the company has not decided on the registered office while filing for offline or online company registration . The company may also have a corporate office, sub-branch, factory site, or administrative office in addition to a registered office. However, the registered office of a company in India must be registered with the Ministry of Corporate Affairs (MCA), the other branches and offices can be opened by a company itself without any prior communication with the RoC. Ty...

A private limited company and Sole Proprietorship are two different business structures & also are different in terms of their working. Sole Proprietorship registration is a popular type of enrollment of unregistered business institutions owned, managed, and operated by a single person.  The sole proprietorship is the “One Man Business Entity”. All the investments for the business with sole proprietorship registration are done by the single proprietor who bears all the losses and enjoys all the profits. The overall control of the business, as well as its management, is in his hands. He can appoint individuals for conducting the business, but the ownership will rest solely with him. This type of business is easy to start but can also hamper your growth with time. After all, it’s difficult to build a big business as a single person. Also, a sole proprietorship registration cannot get all benefits of operation as it grows. So, a need to convert the proprietorship into a p...

One Person Company and Sole Proprietorship are two different business structures & also are different in terms of their working but sometimes people get confused between them due to their similar sounding words. Sole Proprietorship registration is a popular type of enrollment of unregistered business institution owned, managed, and operated by a single person.  Sole proprietorship is the “One Man Business Entity”. All the investments for the business with sole proprietorship registration is done by the single proprietor who bears all the losses and enjoys all the profits. The overall control of the business as well as its management is in his hands. He can appoint individuals for conducting the business, but the ownership will rest solely with him. Whereas one the other hand, One person company registration is an improved and better form of a sole proprietorship registration . One person companies are a great business organization structure for medium-sized businesses. The ...

Partnership Firm and Sole Proprietorship are two different business structures & also are different in terms of their working. Sole Proprietorship registration   is a popular type of enrollment of unregistered business institutions owned, managed, and operated by a single person.  The sole proprietorship is the “ One Man Business Entity ”. All the investments for the Sole Proprietorship business are done by the single proprietor who bears all the losses and enjoys all the profits. The overall control of the business, as well as its management, is in his hands. He can appoint individuals for conducting the business, but the ownership will rest solely with him. A Sole Proprietorship is easy to start but can also hamper your growth with time. After all, it’s difficult to build a big business as a single person. If one is looking to add partners to their business without any hassle or hindrance, then it is recommended to switch to a partnership from sole proprietorship registr...