Legal services

  Income tax Return : All Indian citizens are required to pay income tax to the Government of India in accordance with the income tax laws and regulations. Income Tax laws apply to all individuals, associations, firms, LLPs, local authorities, and Hindu undivided families in each financial year. It is therefore important to file your income tax return (ITR) annually. Income tax returns may be filed online or offline based on your convenience. How does an income tax return ? Individuals are required to file Income Tax Returns (ITRs) with the Income Tax Department of India to report their income and taxes for the year. ITRs should be filed by the end of a particular financial year between April 1st and March 31st. There are many ways to earn income, such as salary, profits, sale of property or house, dividends, capital gains, interest, and dividends. Tax excesses are refunded to you by the Income Tax Department if you paid them during the year. Does ITR filing have to be done ? In o...

Filing an Annual Return for a Private Limited Company : After the end of each financial year, every company (Private Limited Company, Limited Company, One Person Company) must file an annual return. Financial advisors can easily complete the process of filing the annual return for a private limited company . Our article looks at how a private limited company files its annual return. Accounting records to be maintained : The requirement of a Book of Accounts for all companies is important not only for compliance with the law, but also so that the company can exercise control over its finances. In 2013, the Companies Act, 2013 made maintaining book of accounts a requirement for all corporations. The Directors may not even know if the company is in the red or in the black without a book of accounts and an accounting system. The industry also has difficulties filing regulatory returns such as service tax returns, VAT returns, TDS returns, etc. In order to maintain a proper accounting recor...

  MCA requires all Indian companies – private limited companies, limited liability companies, corporations, and sections 8 companies – to file an annual report every year. Generally, filing annual returns is used to confirm that the company is still in the market, in business, or planning to start soon. A company that fails to file its Annual Return with the MCA for three successive fiscal years may lead to the director of that company being disqualified and to various penalties and punishments under the Companies Act, 2013. An annual report is required with the MCA by companies (private companies, limited companies, section 8 companies, and so on). The company would also have to file an income tax return, in addition to the MCA annual return. Annual General Meetings should be held by companies at the end of every fiscal year, before filing the annual return. Within 18 months after incorporation, newly combined companies should hold their first Annual General Meeting. From April 1...