#HelloTaxIndia

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DOCUMENTS REQUIRED FOR GST REGISTRATION

• WHO CAN GO FOR GST REGISTRATION???

• ELIGIBILITY CRITERIA:-

Specified States:- Assam, Arunachal Pradesh, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, J&K, Uttarakhand,Himachal Pradesh

CURRENTLY THRESHOLD LIMIT :

Aggregate Turnover =10 Lakhs

FROM 01.04.2019 (Other than Service Providers)

Aggregate Turnover =20 Lakhs

Other than Specified States :

Aggregate Turnover =20 Lakhs

Aggregate Turnover =40 Lakhs( Applicable From 01.04.2019)

• DOCUMENTS REQUIRED FOR GST REGISTRATION:-

A.INDIVIDUAL/SOLE PROPRIETORSHIP:-

1. PAN, ID Proof (Aadhar Card) and Photograph, Mobile Number, Mail ID of Proprietor.

2. Address Proof for Business Place-

A. If own by Proprietor (Electricity Bill, municipal tax bill etc.)

B. If Rented, Rent Agreement and No Objection Certificate from Owner to run Business.

C. Scanned copy of Cancelled check and first page of Bank Passbook.

B. PARTNERSHIP FIRM:-

1. PAN Card of the Partnership

2. Partnership Deed

3. Copy of Bank Statement

4. Declaration to comply with the Provisions

5. Letter of Appointment of Authorized Signatory

6. Partner’s related Documents (PAN, ID proof, Photograph, Mobile Number, and Mail ID)

7. Address Proof for Business Place- -Copy of Electricity Bill, Municipal tax bill etc. -NOC of Owner -Rent Agreement C.PRIVATE LIMITED COMPANY/ONE PERSON COMPANY/LIMITED LIABILITY PARTNERSHIP:-

1. PAN Card of the Company / OPC / LLP

2. Certificate of Incorporation of Company/ Partnership Agreement in Case of LLP.

3. Memorandum of Association / Article of Association of Company

4. Copy of Bank Statement

5. Declaration to comply with the Provisions

6. Copy of Board Resolution

7. Letter of Appointment of Authorized Signatory

8. Director’s related Documents (PAN, ID proof, Photograph, Mobile Number, and Mail ID)

9. Address Proof for Business Place-

o Copy of Electricity Bill, Municipal tax bill etc.

o NOC of Owner

o Rent Agreement

• NON ELIGIBILITY:-

1. Person Engaged in Agriculture.

2. Individual Advocates not Associates with any Advocacy Firm.

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#GST

#GSTRegistration

#GSTApplicability

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Residential Status of an Individual | Residents and Non Residents

Residential Status of an Individual | Residents and Non Residents There are two categories of taxable entities viz. (1) Residents and (2) Non-Residents 1. Residents A Person is said to be ‘’Resident’’ in India in any previous year if such person is : • An Individual living in India from 182 Days or more is a resident. • From Preceding Financial year if Individual is living from 4 years or 365 days or more is a resident. • ‘’For individual who is working in Indian ship’’ As per Merchant Shipping Act if person is living 60 days in India so he will be resident. 2. Non Residents A person is said to be ‘’Not Ordinarily Resident’’ in India in any Previous year if such person is: • An Individual who has been a non-resident in India in nine out of the ten years preceding that year. • During the Seven previous years preceding that year has been in India for a period of or period amounting in all to seven hundred and twenty nine days or less. Social site link 1)https://www.facebook.com/HelloTaxIndia/ 2)https://hellotaxindia.tumblr.com/ 3)https://twitter.com/HelloTaxIndia/ 4)https://plus.google.com/u/0/112271030624516106296 5)https://www.linkedin.com/company/hello-tax/ 6)https://www.instagram.com/hellotax_india/ 7)https://www.youtube.com/channe....l/UCcIX9jMD73dUzla7a Google play store link 1)https://play.google.com/store/apps/details?id=com.future.hellotaxindia&hl=en_GB (HelloTax India) 2)https://play.google.com/store/....apps/details?id=com. (ITR Efiling) Website link 1)http://www.hellotaxindia.in/ (for more video) 2)https://hellotax.co.in/ (ITR Efiling HelloTax ) #Residents #Non-Residents #MerchantShippingStatus #NRI 

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PPF:  Long Term Debt Scheme run by Govt. of India

Today We will discuss about PPF, Tax and How to Withdraw PPF?

Anyone can open either Salaried or Self Employed or any other Category can open the PPF Account. 

1. How to Open

 • Through SBI or any Nationalized Banks. 

 2. Who Can Open  

 • Any Individual. 

 3. Who Can’t Open

 • NRI are not allowed to open PPF Account but if someone open a PPF Account while he is   a resident of India but subsequently become NRI he shall be allowed to continue   Investing in his Account. 

 4. You can have only One PPF Account

 5. You can’t open joint Account.

6. Mini or Mix Deposit 

• 500 Minimum or 1.5L Maximum yearly. 

 • @7.6 Maximum Deposit 12 Times. 

 7. Payment Mode

 • By Cheque, DD and NEFT. 

 8. Continuing PPF Account after 15 years 

• You can withdraw entire amount after 15 Years. 

 • If you want to continue the account after 15 Years then you can go with 5 years block. 9. PPF Account for Minor 

• Can Open account as a Guardian and on behalf of Guardian you can Operate the   account. 

 10. Loan or PPF 

 • 3rd Financial year excluding the year of Deposit. 

 11. Tax Benefit u/s 80C 

• No Tax on Interest 

 • Interest will be Free.

 12. PPF Withdraw

 • Withdraw Possible only after completing 6 years it means in 7 year you can withdraw the   amount easily. 

 • 50% Limit of amount can be withdrawn which is deposited in starting 4 Years.

 • Able to withdraw 1 Time in a year. 

 13. How to Withdraw – Form C 3 Parts 

 • Declaration – Have to Inform about PF Number, How much Amount you want to   withdraw or from how many years you are Operating PPF Account and What is the   Purpose to Withdraw the Amount? 

 • Official – Have to provide normal information about When Started the Account and how   much is deposited?

 • Bank Detail – Have to mention the details of Bank where you would like to transfer the   amount? 

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1)https://play.google.com/store/apps/de...   (HelloTax India) 2)https://play.google.com/store/apps/de...   (ITR Efiling) 

 Website link 

1)http://www.hellotaxindia.in/   (for more video) 

2)https://hellotax.co.in/    (ITR Efiling HelloTax ) 

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Today we will discuss about What are the Solutions for Problem in INC- 22A ? MAJOR TWO ISSUES 

   ISSUE NO.1 :- 

 DIN DEACTIVATE:- -Because Directors KYC is not submitted within specified time limit mentioned. SOLUTION:- -FILE FORM DIR-3 KYC WITH ROC AND PAY PENALTY OF RS.5000. 

   ISSUE NO.2 :- 

 DIN DISQUALIFIED:- 

 GENERAL CONDITIONS:-

  Person unsound Mind.

  Undeclared Insolvent.

   Convicted in any offence 

  E.T.C  SPECIFIED CONDITIONS 

 Failed to file Financial Statement and Annual Return for last three year continuously. 

 Fail to repay the Liabilities like (Repayment of deposits and interest there on, declared dividend). 

 SOLUTION:- 

1.IF ANY ONE DIRECTOR IS STILL ACTIVE AND APPROVED:- 

 Pass a Resolution to appoint a new Director. 

 Remove the Disqualified Directors.

 2. IF ALL THE DIRECTORS ARE DISQUALIFIED:-        

STATUS OF COMPANY IS STRIKE OFF AND DIRECTORS DISQUALIFIED                   

           DIRECTOR WANTS TO CONTINUE WITH COMPANY 

 1.Appeal for Revival of company to NCLT 

2.Once the order Received from NCLT ,physically file the Annual filling to ROC COMPANY WILL REVIVE                   

          DIRECTOR DON’T WANT TO CONTINUE WITH COMPANY

 1.Appeal for Removal of Disqualification to High Court 

2.Once the order Received from H.C ,physically file the Annual filling to ROC COMPANY WILL STRIKE OFF AS VOLUNTARY STRIKE OFF                         

               COMPANY WANTS TO CONTINUE DAILY WORK 

 1.File a Application to ROC(form no DIR-9) and RD(form no RD-1) To Appoint a New Director 

2.Once Permission Granted Appoint a new Director 

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Google play store link 

1)https://play.google.com/store/apps/de... (HelloTax India) 2)https://play.google.com/store/apps/de... (ITR Efiling) 

 Website link

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 2) https://hellotax.co.in/            (ITR Efiling HelloTax ) 

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New Format for Form 16 and TDS Certificate. We are coming with New video for Salary class must watch. The CBDT has notified a new format for Form 16 – the salary TDS certificate – requiring a detailed break up of tax exempt allowances paid to the employee and also of all tax breaks claimed by him/her. The earlier format allowed companies to give consolidated figures or break-up in different formats for both these thereby leaving some ambiguity regarding their individual composition. Concurrent changes have been made in the format of the TDS return (details of TDS from employees’ salaries .. 

 Read more at: //economictimes.indiatimes.com/articleshow/68915048.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst 

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Google play store link 

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 2) https://hellotax.co.in/          (ITR Efiling HelloTax ) 

  #NewForm16 #NewTDSCertificate #SalaryClass

[hellotaxindia-blog]

In this Video we will Explain you about How to  Improve your Wealth and Wealth Rating ? 

 • Cover Risk 

 1. Life 

 2. Health 

 • Fixed Return 

1. Fixed Deposit 

2. Bond 3. Govt. Securities 

 4. PPF 5. Post Office 

 • Market Link Return 

1. SIP 

 2. Share 

3. Mutual Fund 

4. Rental Property

 5. Real Estate

 • Aggressive Investment 

 1. New Business 

2. Running Business 

 Social site link

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 3) https://twitter.com/HelloTaxIndia/ 

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Google play store link 

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(HelloTax India) 2)https://play.google.com/store/apps/de... (ITR Efiling) 

 Website link 

 1) http://www.hellotaxindia.in/  (for more video) 

 2) https://hellotax.co.in/         (ITR Efiling HelloTax ) 

[hellotaxindia-blog]

• Who can not use ITR -1? 

 1. If Business Income

 2. Any Capital Gain 

3. Any Asset outside India.

 4. Signing Authority for Foreign Account. 

5. Any Foreign Income. 

 6. If you are Claiming benefit for Taxes paid outside India 

 7. Agricultural Income more than Rs. 5000 

8. Not for an Individual who is either Director in a Company or has invested in unlisted Equity Share. 

 • Additional details for those who are Filling ITR 2 and ITR 3 

 1. Have to provide history of their stay in India. 

2. If Agriculture Income Exceed Rs. 500000 need Addition in fund. 

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Google play store link 

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 Website link 

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 2) https://hellotax.co.in/            (ITR Efiling HelloTax ) 

[hellotaxindia-blog]

Why NRIs must invest in Indian Financial Market Today ?

1. Introduction

2. Basic Types of Accounts NRO/NRE

3 Fixed Doposits

4. Mutual fund

5. Direct Equity  

6. How to Open Demat account today for NRI

7. Concept of PIS.

8. Conclusion.

Social site link

1) https://www.facebook.com/HelloTaxIndia/

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3) https://twitter.com/HelloTaxIndia/

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Google play store link

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Website link

1) http://www.hellotaxindia.in/  (for more video)

2) https://hellotax.co.in/            (ITR Efiling HelloTax )

#BestInvestmentOptionForNRI

#NRI

#InvestmentByNRI

[hellotaxindia-blog]

HRA(House Rent Allowances) HRA exemption can be claimed under section 10(13A) of the Income-tax Act, 1961. To calculate this exempted amount, lowest of these three is considered: 

1) Actual HRA received from the employer,

 2) 50% of salary if employee lives in a metro city; and 40% if the employee lives in a city other than a metro, and 3) actual rent paid minus 10% of salary (basic plus dearness allowance plus turnover-based commission). 

We will talk about situations where you can lawfully claim both deductions: Situation

 1. You own a house in same city but you live in a rented premise There might be the possibility that your office is too far and it takes too much time to reach office and that’s one of the reasons to stay near to your office so that you can serve your duty hassle free. But in this case please remember that you must show income of your rental premise in your income tax return (ITR). If your own house is vacant, then show in “nominal value”. Situation 

2. If you are staying in different city other than the place where your own house is situated. Then you can claim both (HRA, Home-Loan interest and capital) without any problem. Situation 

3. If you are staying in the property of your parents or spouse (property owned by parents and spouse respectively). If you are staying with your parents/spouse then property must be owned by parent/spouse. And you must pay monthly rent or timely rent to the owner (parent/spouse). Also the receiver of the rent (parents/spouse) is responsible to file ITR and disclose this income in their respective ITR. In case, if you are paying annual rent more than INR 100,000 (One Lakh) then you have to submit owner’s PAN (parents/spouse) to your employer. Note of Caution: Such kind of claim is generally on the eye of tax authority, so be careful on documentation parts. Situation 

4. If you are staying in your own house: If you are staying in your own house then you cannot claim HRA (House Rent Allowances) and Home Loan both.

[hellotaxindia-blog]

LumpSum Investment in Mutual Fund In this video i have tell you top   best funds for lump sum investment. These funds are very good for shorter duration, you can invest in these funds if you want to invest for short term. For more watch this video till end.

[hellotaxindia-blog]

4E (End to End Energy Efficiency) Launched in: September 2016 Headed by: Small Industries Development Bank of India (SIDBI) Industry: Sector-agnostic Eligibility: MSME startups in the manufacturing or services sector that have been operating for at least three years and have earned cash profits in the last two years are eligible for the loan. Here are the specific eligibility criteria. The startup should not be in default with any bank/financial institutions It should have undergone a process of detailed energy audit (DEA) through a technical agency/consultant that is a Bureau of Energy Efficiency (BEE)-certified energy auditor The detailed project report (DPR) prepared by the technical agency/consultant should have been vetted by the Energy Efficiency Cell (EEC), SIDBI The unit should not have availed a performance linked grant under the World Bank-Global Environment Facility (WB-GEF) Project for the proposed energy efficiency (EE) Project and should be in compliance with the Environment and Social Management Framework Overview: This MSME scheme for entrepreneurs has been launched jointly by India SME Technology Services Ltd (ISTSL) in association with World Bank. The main objective is to implement energy efficiency measures across Indian industries on an end-to-end basis. Also, it aims to help startups finance purchases of second-hand machinery/equipment. The business loans for startups under this scheme meet part costs of: capital expenditure, including for the purchase of equipment/machinery, installation, civil works, commissioning, etc. any other related expenditure required by the unit provided it is not more than 50% of capital expenditure. Fiscal incentives under the 4E scheme: The MSME startup has to pay only INR 30,000 and applicable taxes and the balance fee will be paid by SIDBI to auditors Up to 90% of the project cost with a minimum loan amount of INR 10 Lakh and a maximum loan amount not exceeding INR 150 Lakh per eligible borrower can be granted under this scheme. Eligible loan amount should not exceed one-fifth of the total turnover of the applicant unit. Time period: The repayment period, including the initial moratorium period of up to six months, shall not be more than 36 months for loans up to INR 100 Lakh and 60 months for loans beyond INR 100 Lakh. Bank Credit Facilitation Scheme Launched in: NA Headed by: National Small Industries Corporation (NSIC) Industry: Sector-agnostic Eligibility: MSMEs registered in India Overview: The scheme aims to meet the credit requirements of MSME units. The NSIC has entered into a MoU with various nationalised and private sector banks for the purpose. Through syndication with these banks, the NSIC arranges for credit support (fund- or non-fund-based limits) from banks without any cost to MSMEs. Fiscal incentives: NA Time period: The repayment period varies depending on the income generated from the startup and generally extends from five to seven years. However, in exceptional cases, it can go up to to 11 years. Credit Guarantee Scheme (CGS) Headed by: Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) Industry: Sector-agnostic Eligibility: The scheme is applicable to new and existing MSMEs engaged in manufacturing or service activities, excluding retail trade, educational institutions, agriculture, self-help groups (SHGs), training institutions, etc. Overview: The Credit Guarantee Scheme was launched by the government to strengthen the credit delivery system and to facilitate the flow of credit to the MSME sector. The lending institutions under this scheme mainly include public, private, and foreign banks, along with regional rural banks and the SBI and its associate banks. Fiscal incentives: This MSME scheme for entrepreneurs comes with a number of benefits, including term loans and/or working capital loan facility up to INR 200 Lakh per borrowing unit. Here are some more details of the scheme: The guarantee cover provided is up to 75% of the credit facility up to INR 150 Lakh 85% of credit facility for loans up to INR 5 Lakh is provided to micro-enterprises 80% of credit facility for MSMEs owned/operated by women and all loans to NER including Sikkim 

 source https://inc42.com/features/10-busines... 

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Documents Required for Foreign Nationals In case the applicant is a Foreign National, please submit the following documents for identity and address proof: Identity Proof -------------------------------------------------

1. Attested copy of Applicant Passport

2. Attested copy of VISA (If applicant is out of native country).

3. Attested copy of Resident Permit certificate (If applicant is in India) Address Proof -----------------------------------------------

1. Attested copy of Applicant Passport

2. Attested copy of any other Government issued Address Proof

3. The identity and address proof of foreign nationals must be attested by the following authorities: Embassy of Native Country (If applicant is out of native country) Apostilized by Native Country, after Public Notary (if country is in Hague Convention) Consularized by Native Country, after Public Notary (if country is not in Hague Convention)

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Hello Tax Official Youtube Channel. HelloTax is an easy, cost effective and quick way to file income tax return (ITR Filling App) and stay updated with income-tax information for the salaried class assesses in India. HelloTax is available for Android users in Play Store, for Apple users in iOS Store Phone users, also for desktop and mobile browser. HelloTax aims to empower customer with user friendly and efficient income tax filling Solution. One can file ITR filling in three minutes and track tax data online thereafter. The app comes with some interesting features such as, quick income tax refund status, transaction history, tax calculator, PAN card details, document storage, etc. One of the best Income Tax Return (ITR) Application. (Income Tax Return Application, ITR APP, Income Tax, Online Return, ITR, Income Tax, Easy ITR, Easy Income Tax Return Application). Income Tax filing is now a mandatory compliance requirement as per section 139 (1) of the Income tax act in India. Also, E-retun

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8 Habit make you dream true by your financial coach CA Himanshu Kumar : 1. invest 10% of your income

2. Avoid using late payment of credit card or EMI

3. Create emergency fund for any extraordinary situation

4. 4 to 6 month exp.fund

6. Always  reinvest your earning  

7. Consider with your investment plan 8. Always check your investment performance  

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Hello Tax Official Youtube Channel. HelloTax is an easy, cost effective and quick way to file income tax return (ITR Filling App) and stay updated with income-tax information for the salaried class assesses in India. HelloTax is available for Android users in Play Store, for Apple users in iOS Store Phone users, also for desktop and mobile browser. HelloTax aims to empower customer with user friendly and efficient income tax filling Solution. One can file ITR filling in three minutes and track tax data online thereafter. The app comes with some interesting features such as, quick income tax refund status, transaction history, tax calculator, PAN card details, document storage, etc. One of the best Income Tax Return (ITR) Application. (Income Tax Return Application, ITR APP, Income Tax, Online Return, ITR, Income Tax, Easy ITR, Easy Income Tax Return Application). Income Tax filing is now a mandatory compliance requirement as per section 139 (1) of the Income tax act in India

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• HOW CAN A TAXPAYER OPT FOR COMPOSITION? To opt for Composition Scheme a Taxpayer has to file FORM GST CMP-02. This can be done online. Also, furnish a statement in FORM ITC-03 within 60days of filing GST CMP-02 to declare ITC claimed earlier that has to be reversed.

A taxpayer who wanted to opt for Composition scheme for a Financial Year during middle of such financial year then such person has to inform the GOVERNMENT about their choice. They also required to file GST CMP-02.

If filed the rules applicable will be same and applicable from month immediately succeeding the month in which FORM GST CMP-02 filed.

For example: - if one file form in month of MAY the same will be applicable from JUNE.

• PROCEDURE FOR FILING FORM GST CMP-02:- • LOGIN TO GST PORTAL • GO TO SERVICES • REGISTRATION • CLICK ON APPLICATION TO OPT FOR COMPOSITION LEVY • ON THIS WINDOW READ COMPOSITION DECLARATION & VERIFICATION AND TICK ON TICKBOX. • CHOOSE AUTHORISED PERSON & ENTER PLACE & DO SAVE. • IF YOU WANT TO SUBMIT AT THAT TIME, THEN; o SUBMIT IT WITH DSC/EVC/E-SIGNATURE. • IF YOU WISH TO SUBMIT IT LATER, THEN; o LOGIN - SERVICES -USER SERVICES -MY SAVED APPLICATION - AND SUBMIT WITH DSC/EVC/E-SIGNATURE. • AFTER THIS,ONE POPUP WILL BE OPEN • CLICK TO PROCEED • ACKNOWLEDGEMENT WILL BE GENERATED. • FORM GST CMP-03:-

After submitting FORM GST CMP-02, stock details are required to be submitted with FORM GST CMP-03 in which following details need to be intimated:

• Details of STOCK held • Inward supply of GOODS received from unregistered person held by him person who fill above forms on the date preceding the day of exercise of option. • RETURNS:- The payment can be done quarterly with declaration and return will be filed annually.

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[hellotaxindia-blog]

1.   PURPOSE TO INTRODUCE FORM INC-22A:- 

 The Govt. has recently come up with the new form called INC-22A on 21st Feb 2019, in which Govt. Notified the Companies (Incorporation) Amendment Rule, 2019, The new rule is inserted Rule-25A, ACTIVE means Active Company tagging identifies and verification to vanishing Companies to defraud the Investors, Authorities. Verification of Registered address of Active Companies because earlier ROC  send the notices but does not Delivered at correct address and use of companies for any money laundering process . 

 2. APPLICABILITY AND NON-APPLICABILITY:- 

 APPLICABILITY

 Every company Incorporated on “ÖR” Before 31st December 2017, and have comply all the mandatory provisions of filling of Annual returns and Financial Reports Of company Law.                 

NON-APPLICABILITY 

 This E-form is not Required to be filled by the Following Companies:- 

• Has been struck off.

 • Are under process of strike off. 

• Under liquidation.

 • Are dissolved. 

 3. DUE DATE OF FILLING AND FILLING FEE:-                         

DUE DATE E-Form INC-22A need to be filled On “OR” Before 25th April, 2019. 

  FILLING FEE Only IF, Filling after 25th April, 2019. RS.10000/- ONLY (TILL 25th APRIL –NO FEES) 

 4. ATTACHMENTS AND DOCUMENTS REQUIRED:- 

 • CIN NO. Of companies 

• Latitude and Longitude of Regd. Office

• Director’s DIN no (Should be Approved), if not First Activate it   and follow the procedure for Approval.  

 • Photos of Regd. Office showing external building and inside  office also showing at least one director/KMP who has affixed  his/her Digital Signature to this Form. •  Digital signatures of Directors (Any Two, if more than two). 

•  Declaration by Director/KMP signing the form. 

• Verification by any Practicing Professional (CA, CS). 

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[hellotaxindia-blog]

COMPOSITION SCHEME • WHAT IS COMPOSITION Scheme in GST :- MEANS: - Composition scheme defines a specified criteria under which eligible and opted person pay tax on specified rates. • WHAT IS ELIGIBILITY CRITERIA:- ELIGIBILITY: - Following are the eligibility criteria for composition scheme: • Whose turnover less than 1 crore (as amended 1.5 crores applicable from 1.04.2019) • FOR special category states* turnover less than 75 lakhs. • FOR service providers (restaurant related only), turnover less than 50 lakhs. WHO CAN NOT OPT FOR COMPOSITION:- • SUPPLIER OF SERVICES other than restaurant related services. • Manufacturer of NOTIFIED GOODS (i.e. ice cream, pan masala, tobacco). • Making INTER-STATE supply. • Casual taxable person, NoN-Resident taxable person. • Business which supply goods through E-Commerce operator. CONDITIONS TO BE SATISFIED:- • NO Input Tax Credit will be allowed. • Can’t Supply GST exempted Goods. • Taxpayer has to pay tax at Normal Tax on Reverse charge mechanism. • If a taxable person has different segment of business (such as textile, electronic, groceries etc.) under same PAN, must opt for all. • Mention ‘COMPOSITION TAXABLE PERSON’ on every signboard/notice displayed at their PLACE OF BUSINESS. • Mention ‘COMPOSITION TAXABLE PERSON’ on every Bill of Supply. • CAN’T Issue tax invoice, issue bill of supply. 

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