Business Registration

 

ABOUT PAN

Permanent Account Number (PAN) is a code that acts as identification of Indians or Corporates registered in India to pay Income Tax. It is a unique, 10-character alpha-numeric identifier, issued to all judicial entities identifiable under the Indian Income Tax Act 1961. It is Mandatory Number to start, initiate any kind of business. A proprietor need not apply for a separate PAN Card as the business will be running on his own PAN.

APPLICATION PREPARATION

Our Expert will prepare your PAN Application and obtain your signature in the format along with the necessary supporting documents.

APPLICATION PROCESSING

Once the application is prepared and signed, we will submit the PAN Application to the Tax Department.

Time period: Usually takes 12-15 working days.

PAN ALLOTMENT & COMPLIANCE

Once the application and the attached supporting documents are verified, the Tax Department will allot a PAN for your business.

Payment Frequency : If TDS (Tax deducted at Source) is not deducted and liability is computed, then payment is to be paid before end of financial year.

Filing of Returns : Before 31st July in the Assessment year for Non Corporates.

Before 30st September in the Assessment year for Corporates.

My Office Accountant : can assist you periodically in filing of Income tax returns.

ABOUT TAN

Tax Deduction and Collection Number (TAN) is mandatory 10 digit alpha number required to be obtained by all persons who are responsible for Tax Deduction at Source (TDS) or Tax Collection at Source (TCS) on behalf of the Government.

APPLICATION PREPARATION

Our Expert will prepare your TAN Application and obtain your signature in the format along with the necessary supporting documents.
Dependencies
1. Availability of PAN.

APPLICATION PROCESSING

Once the application is prepared and signed, we will submit the TAN Application to the Income Tax Department.
Time period: Usually takes 12-15 working days.

TAN ALLOTMENT

Once the application and the attached supporting documents are verified, the Tax Department will allot a TAN for your business.
TAN number is used to deduct taxes known as TDS (Tax Deducted at Source) before making payments for various expenses as per slabs.

Payment frequency: Monthly.

Payment Due Date: 7th of every month (April to Feb) and 31st March for the month of March.

Filing of TDS return: Quarterly Returns to be filed within 15 days from end of every quarter.

My Office Accountant can assist you periodically in filing of TDS returns.

ABOUT SERVICE TAX

Service tax is an indirect tax levied on a wide array of services specified by the Central Government under the Finance Act, 1994. To pay this tax, the service provider must be registered with the Central Government if the fiscal year's turnover is Rs. 10 lakhs and above.

APPLICATION PREPARATION

Our Expert will prepare your SERVICE TAX Application and obtain your signature in the format along with the necessary supporting documents.

Dependencies

1. Availability of PAN.
2. Corporate Address proofs and KYC's.

APPLICATION PROCESSING

Once the application is prepared, We will submit the Application to the Tax Department.

Time Period: Within 10 working days.

SERVICE TAX NUMBER ALLOTMENT & COMPLIANCE

Once the application and the attached supporting documents are verified, the Tax Department will allot a Service TAX Number for your business.

Payment frequency: Monthly

Payment Due Date: 5th of every month.

Filing of return: Quarterly.

My Office Accountant can assist you periodically in filing of Service Tax Returns.

ABOUT SALES TAX

Sales Tax Registration is mandatory for any business entity with a turnover specified limits in a year as per given state VAT Act*.
We are currently taking up Assignment for following states:- New Delhi, Karnataka, Mumbai, Rajasthan, Andhra Pradesh, Tamil Nadu, Gujarat & West Bengal.

APPLICATION PREPARATION

Our Expert will prepare your VAT Application and obtain your signature in the format along with the necessary supporting documents.
Dependencies
1. Availability of PAN.
2. Business location premises with Rental Agreement and utility Bill.

APPLICATION PROCESSING

Once the application is prepared, we will submit the VAT Application to the sales tax Department.
Time Period: Within 10 to 15 working days.

VAT NUMBER ALLOTMENT & COMPLIANCES

Once the application and the attached supporting documents are verified, the Department will allot a TIN for your business.

For VAT- ( Rules may vary from State to State).

Payment frequency: Monthly /Quarterly /Half yearly as per limits of Turnover.
Payment Due Date: 20th of every month.
Filing of return: 20th of every month. Audited VAT Statement : yearly

My Office Account can assist you periodically in filing of VAT returns.

ABOUT SHOPS & ESTABLISHMENT

The Shops and Establishments Act regulates conditions of work, lists rights of employees in the unorganized sector and provides a list of obligations for every employer (Rules may vary from State to State).

APPLICATION PREPARATION

Our Expert will prepare your Application and obtain your signature in the format along with the necessary supporting documents.

APPLICATION PROCESSING

Once the application is prepared, we will submit it to the local municipal corporation/Labour Department.

Time period: Within 7 working days.

SHOP & EST. ALLOTMENT

Once the application and the attached supporting documents are verified, the department will allot the registration copy for your business.

Validity: For 5 years and then renewal to initiated. (Rules may vary from State to State).

My Office Account can assist you for applying new registration or renewal of registration.

ABOUT REGISTRATION

Excise duty is a Tax on manufacture or production of goods. Excise duty on alcohol, alcoholic preparations, and narcotic substances is collected by the State Government and is called "State Excise" duty. The Excise duty on rest of goods is called "Central Excise" duty and is collected in terms of Section 3 of the Central Excise Act, 1944. Sales Tax/ VAT is different from the Excise duty as former is a tax on the act of sale while the latter is a tax on the act of manufacture or production of goods.

APPLICATION PREPARATION

Our Expert will prepare your Application and obtain your signature in the format along with the necessary supporting documents.

APPLICATION PROCESSING

Once the application is prepared, we will submit it to Central Excise Division Office.

Time period: Within 7-10 working days.

REGISTRATION COPY

Once the application and the attached supporting documents are verified, the department will allot the registration copy for your business. It's only a registration and not to be treated as a license.

My Office Account can assist you for applying new registration and filing of returns.

ABOUT IEC

An IEC (10 digit code) is mandatory before you start an import/ export business in India. An IEC is necessary for import/ export of goods. It is applied with DGFT(Directorate General of Foreign Trade).

APPLICATION PREPARATION

Our Expert will prepare your Application(ANF2A Form) and obtain your signature in the forms along with the necessary supporting documents. It is linked with entity PAN.
Dependencies
1. PAN.
2. Bank Account for Bank Certificate.

APPLICATION PROCESSING

Once the application is prepared, documents are collected, we will submit it to Dept or Online and follow up with Dept for approval process. If any queries are enquired, We shall assist you in resolving the same.

Time period: Within 7-10 working days.

IEC NUMBER

Once the application is approved by DGFT, the IEC is available online and certificate will be attested by the Dept.

My Office Accountant can assist you for applying new registration.

ABOUT PROFESSIONAL TAX REGISTRATION

Professional tax is levied under the Karnataka Tax on Professions, Trades, Callings and Employments Act, 1976.

Professional Tax is different for Employers and Employees and they have separate registrations.

Note: (Professional Tax for Companies are also collected during application for VAT/ TIN ).

APPLICATION PREPARATION

Our Expert will prepare your Application and obtain your signature in the format along with the necessary supporting documents.

APPLICATION PROCESSING

Once the application is prepared, we will submit it to the local Professional tax Dept.

Time period: Within 4-5 working days.

PROFESSIONAL TAX CERTIFICATE

Professional tax for Employers is paid annually. A certificate and receipt is provided by the Dept.

Professional Tax for Employees Registration is one time registration and RC number is allotted.

Employee Salaries above Rs.15000/- per month are subjected to pay Rs. 200 as Professional Tax(for Karnataka).

Payment Frequency: Monthly.

Due Date: 20th of Every Month.

Returns: Annually (by 30th of the next financial year).

My Office Accountant can assist you for new applying new registration and filing of returns.

ABOUT EPF

Employee Provident Fund (EPF) is one of the main platforms of savings in India for nearly all people working in Government, Public or Private Sector Organizations.

EPF contributions by Employer and Employees are calculated based on basic salary and dearness allowance.

An establishment with 20 or more workers should register with EPFO(Employee Provident Fund Organization).

APPLICATION PREPARATION

Our Expert will prepare your application and obtain your signature in the format along with the necessary supporting documents.

APPLICATION PROCESSING

Once the application is prepared, we will submit it to the EPFO Dept. The Dept will come for inspection of the premises , conduct their due diligence and approve the Registration.

Time period: Within 7-10 working days.

EPFO NUMBER

Once the application is approved, EPF registration number is provided.

Payment Nature: Employers have to deduct and Pay both contributions on a monthly basis to the EPF Dept.

Payment Type: Monthly.

Last Date: 15th every month.

Filing of Returns:

Monthly Returns – 25thof every month.

Annual Returns – 25th April of every year.

My Office Accountant can assist you for new applying new registration and filing of returns.

ABOUT TRADE MARKS

Every Business entity would like to protect its core area which might be in products or Services. We can assist you in applying for Trademarks, Patents, for various products/ services which have been developed/ provided by you.

APPLICATION PREPARATION

Our Expert will check whether the product / service indicated by you is already existing or not by preparing and providing you a search report. Based on the results of the search , We can assist you in applying the Trademark under a predefined class and apply for registration.

Our Expert will prepare your Application and obtain your signature in the format along with the necessary supporting documents.

APPLICATION PROCESSING

Once the application is prepared, We will submit it to the Office of the Registrar of Trademarks.

Once a Trademark is applied and acknowledged you will get an acknowledgement. You can start using TM in the product logo or service rendered.

Time period: Within 2 working days.

There is a waiting time of 1 year for the Trade mark to be approved. If there any objections against the trademark application, we shall guide and assist you with the help of lawyers empanelled with us.

TRADEMARK APPROVAL

Once the application is approved, you can use ® in the product logo or services rendered.

ABOUT FINANCIAL STATEMENTS

BALANCE SHEETS & PROFIT –LOSS STATEMENTS

Every Business Entity has to prepare its balance sheet and Profit-Loss Statements to arrive at the profitability of their business. These business numbers helps a corporate entity to plan his business, prepare a growth map, make financial decisions and raise money from Financial Institutions.

ASSISTANCE IN AUDIT

My Office Account can be one stop solution right from incorporation, business registrations, compliances, accounting and help you prepare and keep track of your financial statements. We provide assistance in audit and taxation matters and can provide monthly MIS reports to support your business.

NETWORK OF CHARTERED ACCOUNTANTS

We have a network of Chartered Accountants and professionals who can assist you in auditing , preparation of financial statements and finalization of accounts.