Company Registration in Kerala

(1) Income tax returns cannot be filed beyond the time permitted for belated filing which normally 31st march of the assessment year. However, in a hypothetical situation, if the ITR is filed with a delay of 1 year, then late fees shall be applicable resulting in the reduced refund or increased tax liability. (2) As of now, the GST compliance rating has not been introduced it’s still in the planning stage. However, you can get the details of GST filing by your vendor by visiting the link https://services.gst.gov.in/services/searchtp give the GSTIN and clicking show filing table in the inside window For information on Company Registration, visit https://www.parpella.com/one-person-company-registration

(1) No it will not come under the notion of fraud unless it is a willful/ intentional misstatement to evade tax. (2) The advantages of OPC are 1. Separate legal entity 2. Limited Liability 3. Perpetual existence For information on Company Registration, visit https://www.parpella.com/one-person-company-registration

(1) No. Only a limited company can apply for Section 8 company license. (2) Yes. There is no deadline for processing refunds. There are several cases where the refunds are issued even after a year. For information on Company Registration, visit https://www.parpella.com/one-person-company-registration

A director need not necessarily become the shareholder of a company. One can become the director even without holding shares. For information on Company Registration, visit https://www.parpella.com/one-person-company-registration

Pros of Section 8 Company: 1. Tax benefits 2. No/ Minimal stamp duty 3. Minimal share capital   Cons of Section 8 Company: 1. Increased compliance 2. Profits can't be distributed 3. Profit should not be the motive For information on Company Registration, visit https://www.parpella.com/one-person-company-registration

(1) The first form to be filed is INC 20 A within 6 months from the date of incorporation. After that the annual filings such as AOC 4, MGT 7/ MGT 7A, DIR 3 KYC and DPT 3 need to be done. (2) If you have LIC premium or tax-saving mutual funds aggregating to Rs.1 lakh or more, you can bring down the total income to Rs.5 lakhs and pay zero tax. For information on Company Registration, visit https://www.parpella.com/one-person-company-registration #incometaxreturn #incometax #gst #tax #incometaxindia #incometaxseason #taxes #taxseason #business #itr #accountant #taxreturn #taxpreparer #incometaxes #gstindia #gstupdates #finance #taxation #accounting #taxconsultant #taxrefund #gstregistration #incometaxreturnfiling #gstreturns #incometaxrefund #taxprofessional #taxplanning #income

Income tax consultants can help you with the following areas. 1. Ensuring compliances and thereby reducing penalties. 2. Proper tax planning for tax savings 3. Advising on several tax benefit schemes. For more information, visit https://www.parpella.com

 In India, there is no limit on statutory audits applicable to companies under the Companies Act, 2013. Every company registered in India is required to do the statutory audit irrespective of the level of turnover/ capital/ borrowings. For information on registering a Company , visit https://www.parpella.com

A condonation request for delay is to be placed before the assessing officer for filing ITR for AY 2021-22. Once the AO accepts the condonation, ITR can be filed. A valid reason should be there for accepting a condonation requests. The returns prior to this AY cannot be filed now. For information on registering a Company , visit https://www.parpella.com

If the income tax notice is not responded in time properly, the AO has the power to demand the tax, interest and penalty based on their best judgement and the demand if not paid in time can lead to interests and penalties upon that amount and ultimately result in revenue recovery and bank account freezing. Think of us for  Company Registration in Kerala  and  Business Registration in Kerala  -  https://www.parpella.com/

For small businesses with turnover less than 20 lakhs only income tax return will be applicable that too when the income goes beyond 2.5 lakhs in case of individuals. Once the annual turnover crosses the 20/ 40/ 10 lakhs mark as prescribed, GST will be applicable. For small businesses with turnover less than 20 lakhs only income tax return will be applicable that too when the income goes beyond 2.5 lakhs in case of individuals. Once the annual turnover crosses the 20/ 40/ 10 lakhs mark as prescribed, GST will be applicable. Think of us for  Company Registration in Kerala  and  Business Registration in Kerala  -  https://www.parpella.com/

Since the transfer is between father and daughter, the amount is not taxable in the hands of daughter without any limit. Think of us for  Company Registration in Kerala  and  Business Registration in Kerala  -  https://www.parpella.com/

It depends upon the level of income and the TDS deducted. The refund amount shall be the difference between the TDS deducted and the tax liability. Think of us for  Company Registration in Kerala  and  Business Registration in Kerala  -  https://www.parpella.com/

  You can print out the acknowledgment, sign it and send it to CPC for everification instead of using aadhar otp. Other methods are through DSC and Net Banking. Think of us for  Company Registration in Kerala  and  Business Registration in Kerala  -  https://www.parpella.com/

You can print out the acknowledgment, sign it and send it to CPC for everification instead of using aadhar otp. Other methods are through DSC and Net Banking. Think of us for  Company Registration in Kerala  and  Business Registration in Kerala  -  https://www.parpella.com/

Yes you can file the ITR for the FY 2020-21. Think of us for  Company Registration in Kerala  and  Business Registration in Kerala  -  https://www.parpella.com/

The authenticity of the ITR filed can be checked by various means such as crosschecking with the TDS Statement i.e. the 26 AS, GST Returns filed if applicable and by going through the bank statement. Think of us for  Company Registration in Kerala  and  Business Registration in Kerala  -  https://www.parpella.com/

Company is a perpetual entity which can be closed down only by law. Hence, there is no expiry date for a company. However, if there is any default in filing the annual returns or other MCA forms, the ROC may on its own close down a company. Think of us for  Company Registration in Kerala  and  Business Registration in Kerala  -  https://www.parpella.com/

Section 194Q of the Income Tax Act is recently introduced vide the Finance Act, 2021. Under section 194Q “It is provided for TDS by the person responsible for paying any sum to any resident for purchase of goods. The rate of TDS is kept very low at 0.1%. Think of us for  Company Registration in Kerala  and  Business Registration in Kerala  -  https://www.parpella.com/

  Yes. The ITR filed cannot be validated unless the return is e-verified Think of us for  Company Registration in Kerala  and  Business Registration in Kerala  -  https://www.parpella.com/

  There cannot be a single answer to this question. Notices may be issued for various reasons under-reporting of income and short payment/non-payment of tax can be the major two. Other than that, notices may be issued for clerical errors in the returns submitted Think of us for  Company Registration in Kerala  and  Business Registration in Kerala  -  https://www.parpella.com/

There cannot be a single answer to this question. Notices may be issued for various reasons under-reporting of income and short payment/non-payment of tax can be the major two. Other than that, notices may be issued for clerical errors in the returns submitted Think of us for  Company Registration in Kerala  and  Business Registration in Kerala  -  https://www.parpella.com/

  Basic steps are as follows. 1. Name application 2. Incorporation form filing by attaching the id proof, address proof, PAN, declaration and estimated income and expense for 3 years. Think of us for  Company Registration in Kerala  and  Business Registration in Kerala  -  https://www.parpella.com/

Basic steps are as follows. 1. Name application 2. Incorporation form filing by attaching the id proof, address proof, PAN, declaration and estimated income and expense for 3 years. Think of us for  Company Registration in Kerala  and  Business Registration in Kerala  -  https://www.parpella.com/

As per the latest amendments, GST is not payable on sale of ready to move in properties. Think of us for  Company Registration in Kerala  and  Business Registration in Kerala  -  https://www.parpella.com/

  Every person who is of sound mind and who has attained eighteen years of age can become partners. Other than that a company can also become the partner in a firm. Think of us for  Company Registration in Kerala  and  Business Registration in Kerala  -  https://www.parpella.com/

Every person who is of sound mind and who has attained eighteen years of age can become partners. Other than that a company can also become the partner in a firm. Think of us for  Company Registration in Kerala  and  Business Registration in Kerala  -  https://www.parpella.com/

Investment proofs are not required to be uploaded unless notice is issued by the income tax authorities. As of now they are only meant for safe custody. Think of us for  Company Registration in Kerala  and  Business Registration in Kerala  -  https://www.parpella.com/

All e-filed returns will be available in your income tax account. You can get them anytime by logging into your income tax account by giving your PAN and password. Think of us for  Company Registration in Kerala  and  Business Registration in Kerala  -  https://www.parpella.com/

All e-filed returns will be available in your income tax account. You can get them anytime by logging into your income tax account by giving your PAN and password. Think of us for  Company Registration in Kerala  and  Business Registration in Kerala  -  https://www.parpella.com/

If the total income including salary and professional income is less than Rs.50 Lakhs, ITR 4 can be used otherwise ITR 3 should be used. Think of us for  Company Registration in Kerala  and  Business Registration in Kerala  -  https://www.parpella.com/

If your income is less than the basic exemption limit which is normally Rs.2,50,000, then you need not file the return. Think of us for  Company Registration in Kerala  and  Business Registration in Kerala  -  https://www.parpella.com/

If your salary is more than Rs.2,50,000 in year, you need to file the ITR. Think of us for  Company Registration in Kerala  and  Business Registration in Kerala  -  https://www.parpella.com/

Normally it is 30th September of every year. Think of us for  Company Registration in Kerala  and  Business Registration in Kerala  -  https://www.parpella.com/

  A CA is not required for GST registration. You can even do it yourself or through consultants. Think of us for  Company Registration in Kerala  and  Business Registration in Kerala  -  https://www.parpella.com/

A CA is not required for GST registration. You can even do it yourself or through consultants. Think of us for  Company Registration in Kerala  and  Business Registration in Kerala  -  https://www.parpella.com/

ITR cannot be filed for AY 2020-21. The ITR for AY 2021-22 can be filed only if the AO accept our condonation request. For AY 2022-23, the ITR can be filed now. Think of us for  Company Registration in Kerala  and  Business Registration in Kerala  -  https://www.parpella.com/

Yes, you can claim the health insurance paid for your parents. You need to claim the deductions under Section 80 D. However, there is an upper limit of Rs.50,000 in case of senior citizens and Rs.25,000 in case of others. Think of us for  Company Registration in Kerala  and  Business Registration in Kerala  -  https://www.parpella.com/

Yes you can. However, it is to be ensured that the same name is not trademarked earlier. Think of us for  Company Registration in Kerala  and  Business Registration in Kerala  -  https://www.parpella.com/

You will have to pay tax on the entire 7 lakhs now. The taxablity of the investment of 5 lakhs will become applicable only when you sell those investments later. Think of us for  Company Registration in Kerala  and  Business Registration in Kerala  -  https://www.parpella.com/

The Income Tax Act allows you to claim a maximum deduction of Rs 50,000 (as of FY 2021-22) on medical expenses incurred on the healthcare of senior citizens (eligible parents) in a financial year. Think of us for  Company Registration in Kerala  and  Business Registration in Kerala  -  https://www.parpella.com/

It depends upon your level of income. If you're in the highest slab of 30% tax, you can save upto Rs.45,000 on a saving of Rs.1,50,000. Think of us for  Company Registration in Kerala  and  Business Registration in Kerala  -  https://www.parpella.com/