Business Registration, taxation and compliance for enterpreneurs in India

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Information about Business Registration, taxation and compliance for enterpreneurs in India
Business & Mgmt

Published on March 7, 2014

Author: AshishBihani

Source: slideshare.net

Description

Business in India
Starting business in India is dream of every offshore Business to grab market share in India's huge potential. Right from business registration and working on various tax laws and other compliance it becomes important to have advise from some experts.

CA Ashish Bihani Senior Advisor Corpsquare.In

  India is Most Preferred Offshore Destination across the Globe Ample opportunities Corpsquare.In

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      Legal Formalities Human Resource Nature of Business Capital Taxation Long Run Corpsquare.In

Nature of Business Registrations Sole Proprietorship Partnership Limited Liability Partnership (LLP) Corpsquare.In Company (Pvt Ltd & Public Ltd)

• One Man Army Sole Proprietorship • Concentration of Decision Making Powers & Responsibilities • No Legal Framework • Capital Contribution • Small Business Corpsquare.In

• Partners & Mutual Understanding Partnership Firm • Partnership Act 1932 • Partnership Deed – Main Clauses • Unlimited Liability • Old Business Type Corpsquare.In

Limited Liability Partnership (LLP) • Partnership in Corporate Form • LLP Act 2008 • LLP Agreement – Ministry of Corporate Affairs • Limited Liability • Good form for Professionals Corpsquare.In

•Shareholders & Directors •Companies Act 1956 & 2013 Company •Memorandum (MoA), Articles ( AoA) •Limited Liability •Pvt, Public, Listed •Global recognition Corpsquare.In

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 Proprietorship Taxability Criteria Business income along with any other income of proprietor is chargeable to tax Rate of tax Slab rates applicable to Individual; further subject to age of proprietor Corpsquare.In

 Proprietorship Slab Rate Applicable 0 to 200,000 0% (NIL) 200,000 to 500,000 10% ( Tax Credit 10%, Maximum Rs.2,000) 500,000 to 10,00,000 20% 10,00,000 & Above 30% * 10% Surcharge is applicable for Income above 1 Cr * 3% Education Cess on applicable on tax Corpsquare.In

 Partnership Firm & LLP (Governed by Section 40b of Income Tax Act) Remuneration to Partners Taxable in hands of partners as per Slab rates Profits of Firm 30% * 10% Surcharge is applicable for Income above 1 Cr * 3% Education Cess on applicable on tax Corpsquare.In

 Companies Remuneration to Directors Taxable in hands of Directors as per Slab rates Profits of Company 30% Dividend Distribution 15% (Surcharge 5%) * 5% & 10% Surcharge is applicable for Income above 1 Cr & 10 Cr respectively * 3% Education Cess on applicable on tax Corpsquare.In

 Indirect Taxes VAT/CST •Burden of Consumers Service Tax •Essential Element in Excise Duty Product Pricing Customs •Applicable as per Duty nature of Business Corpsquare.In

      Applicable on Trading Product wise Rates (Schedules) Set Off/ Input Tax Credit VAT & CST – An Analysis Registration MVAT Act & CST Act & Compliance Corpsquare.In

        Applicable on Services Negative Regime - Changes from July 2012 Service Tax Rate – 12.36% Set Off/ Input Tax Credit Abatement Reverse Charge Mechanism Registration Compliance Corpsquare.In

     Applicability Manufacturing Import & Export Basic Compliance Set Off/ Duty Drawbacks Corpsquare.In

Accounting Auditing RoC Corpsquare.In

      Importance of Accounting Accounting Data Analysis Book Keeping & types of records Legal View – Invoices/ Vouchers Evidence Internal Business Structure & Procedures Corpsquare.In

  Auditing – Verification of Accounts Audit under various Statutes ◦ ◦ ◦ ◦   Companies Act LLP Act Income Tax Act MVAT Act Internal / Management Audits Benefits & Usefulness to Business Corpsquare.In

     Statutory Audit Annual Return Filing Annual General Meeting Board of Director Meetings Compliance for any change in MoA & AoA Corpsquare.In

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       Global Market Online presence across the World Savings in Set Up Costs & Overheads Transparency (Tracking) Ease of Payment (Payment Gateway) Business Promos and Offers Strong Back end processing is MUST Corpsquare.In

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CA Ashish Bihani +91.98908 19029 | ashish.bihani@gmail.com 020 2444 0444 | www.corpsquare.in 302B, CTS 43, Nav Maharashtra House, Opp. Shaniwar Wada, Shaniwar Peth, Pune – 411030 Corpsquare.In

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