Incorporating a Business

We at My Office Account offer a highly professional service covering the entire gamut of legal and non legal processes involved in company formations. From choosing an appropriate name, registration, company's articles of association to directors, share capital information, we handle the services in totality whether it's for a proprietor firm or a private limited firm.

Public Limited Company

When you promote a public limited company, you have the greatest advantage of raising money from a large number of shareholders by listing the company on the Stock Exchange, where the company's shares are traded publicly. Since public money is involved, such companies are tightly regulated and monitored. A public limited company is mandated to publicly disclose its financial position fairly and truthfully enabling investors determine the worth of their stock.

There are many advantages to having a public limited company. First and the foremost, the company is viewed as a distinct legal entity and enjoys all the benefits such as perpetual existence, which means uninterrupted existence till legally dissolved, acquiring and holding assets, suing third parties and creditors, raising fund and limited liability for shareholders.

However, the legal process involving incorporation of a Public Limited Company involves extensive documentations, clearances from various authorities, filing documents with the ROC, follow up with the ROC, preparing & making changes to the MOA / AOA/other Incorporation documents, Certificate obtaining etc. It certainly requires experience and required expertise.

 

We at My Office Account have proven experience in rendering successful incorporation services to prompters who wanted to establish a Public Limited Company. We will first understand your nature of business, number of directors and subscribers involved, company structure, lines of business, suitable capital structure and other relevant details to finalize the constituents of the Incorporation. We also assist Clients in Planning of their location of Registered Office by indicating suitable office spaces.

Particulars Criteria/ Basic Information
Directors Minimum 3 directors, Maximum 50 directors, Minimum Age 18
No of Shareholders Minimum 7 subscribers/shareholders. Maximum No Limit
Paid up Share Capital Minimum 5 lakh
DIN Numbers Director Identification Number required for each Director
Digital Signature Minimum 1 Digital Signature required
Type of Directors Citizens of India can obtain DIN with documents being self attested and Notaries. Foreign Nationals require documents to be attested by Consulate of Indian Embassy or as per the prevailing rule.
MOA& AOA ( Memorandum of Association) & ( Articles of Association) MOA covers fundamental objects of the company. AOA contains internal rules and regulations governing the company.
Time Period for Certificate of Incorporation If all Documents* are obtained and company name is unique - 4 to 5 working days without any queries. If there are, 10-15 working days.
Certificate of Commencement Of Business Certificate of Commencement of Business is a mandatory document to be obtained from ROC prior to start of the business operations.

Our services include preparation, filling, registration and management of:

Goods and Services Tax (GST) is an indirect tax applicable throughout India which replaced multiple cascading taxes levied by the central and state governments. Under GST, goods and services are taxed at the following rates, 0%, 5%, 12% and 18%

Why is GST Registration required:
GST registration is important as it will allow you to avail various benefits that are available under the GST regime. One such benefit is to avail seamless input tax credit. Many multiple taxes are being clubbed added under GST and hence the cascading effect of taxes will no longer continue.
Also, timely registration will help you avoid any kind of interface with tax authorities.

Format of GSTIN

Applicability:

Any individual or entity that fulfils any of the following conditions needs to get GST Registration

1. Having an annual aggregate turnover from operations in the state which is above the threshold limit of 20 Lakhs (Rs. 10 Lakhs for North-Eastern States)

2. Currently registered under any of the existing indirect tax regimes (VAT, Excise Laws, Service Tax Laws) irrespective of the threshold limit

3. Having operations in multiple states

4. Having multiple business verticals in one state

5. Making any Inter-State taxable supply

6. Casual taxable persons & Non-resident taxable persons

7. Required to pay tax under Reverse Charge

8. Required to deduct tax at source

9. Agents of a supplier

10. Input Service Distributor

11. Supplying goods or services through E-commerce Operator

12. E-commerce Operator/ Aggregator who supplies goods or services under his brand name (e.g. Flipkart, Amazon, Ola)

13. 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

 

Filing Of GST Returns With Due Dates 

 

Return Form

What to file?

By Whom?

By When?

GSTR-1

Details of outward supplies of taxable goods and/or services effected

Registered Taxable Supplier

10th of the next month

GSTR-2

Details of inward supplies of taxable goods and/or services effected claiming input tax credit.

Registered Taxable Recipient

15th of the next month

GSTR-3

Monthly return on the basis of finalization of details of outward supplies and inward supplies along with the payment of amount of tax.

Registered Taxable Person

20th of the next month

GSTR-4

Quarterly return for compounding taxable person.

Composition Supplier

18th of the month succeeding quarter

GSTR-5

Return for Non-Resident foreign taxable person

Non-Resident Taxable Person

20th of the next month

GSTR-6

Return for Input Service Distributor

Input Service Distributor

13th of the next month

GSTR-7

Return for authorities deducting tax at source.

Tax Deductor

10th of the next month

GSTR-8

Details of supplies effected through e-commerce operator and the amount of tax collected

E-commerce Operator/Tax Collector

10th of the next month

GSTR-9

Annual Return

Registered Taxable Person

31st December of next financial year

GSTR-10

Final Return

Taxable person whose registration has been surrendered or cancelled.

Within three months of the date of cancellation or date of cancellation order, whichever is later.

GSTR-11

Details of inward supplies to be furnished by a person having UIN

Person having UIN and claiming refund

28th of the month following the month for which statement is filed

Type of Service

GST REGISTRATION

Turn around Time

Understanding requirement

  • We shall understand your requirement about the Goods & Service tax registration  and provide information on the rates and slab as applicable. We shall provide you list of documents required for obtaining the GST registration. Once the documents are with us  we shall apply for registration.

2-3 days

Application and Service Tax Number

  •  We shall create your login, fill the application data, enter list the details as per required.

2-3 days

GST CERTIFICATE

Once We submit the application, We have to wait until its approved by the Department.

7 days

Documents / Information required:

Documents required

Information required

  • Digital Signature of any One Director or shareholder.
  • ID proof and Address proof of Each Director ( self Attested)
  • Photographs of each Director / Partner ( 1 nos each)
  • PAN card of the business entity.
  • MOA AOA / Partnership Deed /LLP Agreement
  • Rental Agreement and recent utility bill of the Company
  • Bank Account statement for last 3 months.
  • Existing Service Tax , VAT Regn or other registration Certificates as applicable.
  • Company Authorization letter.
  • Nature of Business.

KYC data of the business
KYC details of all Directors /Partners
List of Services for registration.
Bank Account details.

Type of filing

Form no.

Due date

Outward Supplies

GSTR-1

10th

Inward Supplies

GST-2

15th

Monthly returns

GST -3

20th

Annual Return

GSTR-9

31st Dec. next FY.

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 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.