#open a current account without gst

[openflo]

How to Open A Current Account Without GST As a Freelancer

Learn how to open a current account without GST as a freelancer. Discover the steps and requirements to easily open a current account online without GST hassle-free.

[rinkushaw]

How to Be a Tax Consultant in India?

Becoming a tax consultant in India can be a meeting together with rewarding work choice. As the country's economic environment increases so does the in and out of its tax commitment system creating a requirement for well-informed professionals that can aid individuals plus companies browse their tax commitment commitments. In this introduction we will definitely discover the activities to coming to be a tax commitment professional in India, focusing on obtaining tax obligation expert qualification along with leveraging on-line training courses for tax commitment preparer accreditation.

Comprehending the Role of a Tax Consultant A tax commitment expert additionally called a tax responsibility professional is an economic expert especially educated tax commitment regulation. If you can't stand up to a particular a glass of wine, probably it's as a result of your individuality, just how you've really felt that day or maybe also that you're with at the time. Sometimes however poor a glass of wine can trigger cardiovascular disease. My point of view is individuals must be a lot more careful. They help customers with tax obligation preparation, conformity plus declaring returns. Tax obligation professionals guarantee that their customers stick to tax obligation laws while decreasing obligations and also optimizing reductions together with credit scores.

Actions to Becoming a Tax Consultant in India.

Educational Qualifications. While there is no obligatory level to come to be a tax consultant certification, having a history in business, financing, or regulation can be useful. Usual instructional courses consist of:

Bachelor's Degree in Commerce (B.Com): A level in business gives fundamental understanding in bookkeeping, financing, as

well as taxes. Chartered Accountant (CA): Pursuing a CA accreditation is a respected course that covers comprehensive tax obligation regulations as well as monetary policies. Bachelor's Degree in Law (LLB): Understanding lawful facets of taxes can be useful for complicated tax obligation problems.

Acquire Professional Certifications. To improve your reliability and also knowledge getting a tax obligation specialist accreditation is essential. These qualifications show your efficiency and also devotion to the career. Secret qualifications consist of:.

Qualified Income Tax Professional Course: This qualification covers numerous facets of earnings tax obligation regulations, preparation as well as conformity. Diploma in Taxation: Offered by different establishments this diploma gives extensive expertise of straight and also indirect tax obligations. GST Practitioner Certification: Specializing in Goods coupled with Services Tax (GST) can open up extra possibilities specifically for companies.

Register in Online Classes for Tax Preparer Certification. With the arrival of innovation, many on the internet courses for tax obligation preparer qualification are offered providing versatility and also comfort. Online training courses can assist you obtain sensible understanding and also keep up with the current tax obligation laws. Advantages of on the internet courses consist of:.

Versatile Schedules: Study at your very own speed without jeopardizing your existing work or researches. Accessibility to Resources: Online systems give considerable sources, consisting of video clip talks, technique examinations, as well as conversation online forums. Specialist Instruction: Learn from knowledgeable experts and also sector professionals.

Gain Practical Experience. Practical experience is crucial to coming to be an effective tax obligation expert. Think about the complying with opportunities:.

Teaching fellowships: Work with well established tax obligation working as a consultant companies or hired accounting professionals to obtain hands-on experience. Freelancing: Start supplying tax obligation solutions to pals, household or small companies to construct your profile. Part-time Jobs: Join as a part-time tax obligation professional or aide in bookkeeping companies to acquire real life direct exposure.

Keep up with Tax Laws. Tax obligation legislations are regularly progressing and also remaining up-to-date is vital for giving exact suggestions. Frequently check out tax obligation magazines, go to workshops as well as join specialist workshops. Signing up with specialist bodies like the Institute of Chartered Accountants of India (ICAI) can supply accessibility to beneficial sources as well as networking possibilities.

Create Key Skills. To succeed as a tax consultant certification establishing specific abilities is vital. These consist of:.

Logical Skills: Ability to translate complicated tax obligation regulations together with laws. Interest to Detail: Precision in taking care of monetary papers along with estimations. Interaction Skills: Explaining tax obligation ideas in easy terms to customers. Problem-Solving: Offering services to reduce tax obligation responsibilities and also make sure conformity. Profession Prospects as well as Opportunities. The need for tax obligation specialists in India is high, with possibilities in different industries consisting of:.

Business Sector: Large firms need tax obligation professionals for calculated tax obligation preparation plus conformity. Working As A Consultant Firms: Many companies concentrate on tax obligation working as a consultant, providing solutions to a wide variety of customers. Self-Employment: Many tax obligation professionals begin their very own methods providing solutions to people as well as small companies. Federal Government and also Public Sector: Opportunities feed on tax obligation authorities plus federal government divisions for tax obligation consultatory duties. Final thought. Becoming a tax obligation professional in India calls for a mix of education and learning, qualification plus sensible experience. By getting a tax obligation professional qualification and also leveraging on the internet courses for tax obligation preparer accreditation you can boost your abilities as well as understanding making you an important possession in the area of tax. With commitment and also constant understanding you can construct an effective job as a tax consultant certification, assisting customers browse the complexities of the Indian tax obligation system.

Recap Checklist. Educational Qualifications: Consider B.Com, CA or LLB. Specialist Certifications: Obtain Certified Income Tax Professional Course, Diploma in Taxation or GST Practitioner Certification. Online Courses: Enroll in adaptable plus thorough on-line training courses. Functional Experience: Gain hands-on experience via teaching fellowships, freelancing as well as part-time work. Remain Updated: Regularly checked out tax obligation magazines coupled with participate in specialist occasions. Establish Skills: Focus on logical, interaction as well as problem-solving abilities. Check Out Career Opportunities: Look for functions in the company industry, working as a consultant companies, self-employment and also the general public industry. Triggering the trip to end up being a tax consultant certification in India can be satisfying and also monetarily fulfilling, supplying varied chances to make a considerable effect on companies together with people alike.

[taxandaccountingmumbai]

Tally and GST Training in Mumbai: Choosing the Right Course for Your Career

In the bustling financial hub of Mumbai, where commerce thrives and businesses flourish, the demand for skilled professionals well-versed in Tally and GST is on the rise. As these accounting software applications become indispensable tools for managing finances and ensuring compliance, choosing the right training course is crucial for individuals aspiring to build a successful career in the financial domain.

Understanding the Importance of Tally and GST Skills in Mumbai's Job Market

In a city driven by diverse industries, from finance to manufacturing, possessing proficiency in Tally and GST has become a prerequisite for job seekers. Employers seek candidates who can navigate the complexities of financial management efficiently, making specialized training in these areas highly valuable.

Exploring Course Options in Mumbai

Mumbai offers a myriad of Tally and GST training courses, ranging from basic certifications to advanced diploma programs. Prospective students should consider their current skill level, career goals, and the specific aspects of Tally and GST they wish to master when selecting a course.

Certification Relevance in Mumbai's Job Market

Many employers in Mumbai prioritize candidates with recognized certifications in Tally and GST. A well-structured course that culminates in certification not only enhances one's knowledge but also adds a valuable credential to the resume.

Industry-Relevant Curriculum

An ideal training course should cover a comprehensive curriculum that aligns with the industry's requirements in Mumbai. Topics such as GST compliance, TDS, financial reporting, and advanced Tally features should be included to ensure students are well-prepared for real-world challenges.

Faculty Expertise and Industry Exposure

The quality of instructors can significantly impact the learning experience. Look for courses where faculty members have practical experience in Mumbai's financial sector, providing valuable insights and real-world examples that go beyond textbook knowledge.

Flexible Learning Options

Considering the busy lifestyle of many Mumbaikars, flexibility in learning options is key. Courses that offer a mix of online and offline classes, weekend batches, or self-paced learning can accommodate diverse schedules, allowing individuals to pursue education without disrupting their current commitments.

Placement Assistance and Networking Opportunities

A good training institute should not only equip students with knowledge but also provide support in finding job opportunities. Look for courses that offer placement assistance, internships, or networking events to help kickstart your career in Mumbai.

Reviews and Alumni Feedback

Before enrolling in a course, research reviews and feedback from alumni. Insights from those who have completed the training can provide valuable information about the course quality, faculty, and post-training support.

Conclusion

Choosing the right Tally and GST training course in Mumbai is a crucial step toward building a successful career in finance. By considering factors like course content, certification, faculty expertise, and flexibility, individuals can make informed decisions that align with their career aspirations. In a city where opportunities abound, investing in the right education can open doors to a fulfilling and prosperous career in the dynamic world of finance.

[danishkhan786]

Trademark Search Bangalore

A partnership firm in Bangalore is the association of partners to run the business in Bangalore.

Partnership firm Bangalore is a mutual agreement among the partners about the new business setup, sharing the profit, etc., purely a contract between the partners of the business.

Under partnership business, Who shall execute an agreement or partnership Deed among the partners on a stamp paper about the objective of the company, place of office, duties of partners, capital structure, profit/ loss sharing, continuity of the business in the event of death, do's and don'ts etc.

Under Partnership Act 1932, the partnership is not a separate body; it merely represents the relationship between the partners.

Partnership business is best for non-risk-oriented services, where the partner's responsibility is unlimited to the associated decision taken by the Firm.

Partnership Deed is the master.

The entire partnership firm depends on the agreement entered in the signed Deed.

The partnership deed must contain critical information about the partner's mutually agreed terms and conditions.

Partners with two witnesses must sign the finalized partnership Deed as proof of the Contract agreed upon among the partners. The clauses on each in the Deed must be vetted by an excellent legal consultant to avoid risks and litigations in the future. Team IN Filing legal Team helps make good Deeds of the partnership firm in Bangalore.

The partnership deed must be printed in Rs.2000 e-stamp in Karnataka.

Partnership Firm Registration procedure

A partnership Firm is an agreement among the partners of the business, just similar to a contract.

It has a minimum of two partners to manage the Firm.

Steps in Firm Registration in Bangalore

·         Select the unique Business name for the Trade Name of the business

·         Obtain the documents from each partner (Pan, Aadar, photo)

·         Get the Rental agreement for the office place of the Firm

·         Finalize the capital clause, profit sharing, and other terms and conditions

·         Registration of the Firm in Bangalore

·         Apply for a new Pan card in the name of the Firm

·         Get the GST registration in Bangalore

·         Get the MSME for the Firm in Bangalore

·         Open a Current account in the firm name

Documents required under Firm Registration

Before proceeding with Firm Registration, we must make sure the below.

Get the unique business name without copying any Brand or existing Tradename, and get it vetted with the firms' register for the name's availability.

Once the Firm name is available, we can proceed with the Firm's Registration.

Steps involved in Firm Registration in Bangalore

There are three main steps in the Firm registration

·         Name finalization with Registrar of Firms

·         Registration of the Firm

·         Applying for Pan, Tan, Gst

Below are the essential documents must for Partnership firm registration.

·         Pan and aadhar of each partner

·         Capital and profit sharing of each partner

·         Get the business rental agreement in the Firm name

·         Utility bills like electric bills or phone bill

·         Partners consent letter

·         Deed drafting and finalization with Partners' consent

Partnership firm Features

As the partnership firm is a contract agreement among the partners of the Firm, the main features of the Firm are

·         A partnership firm is an agreement between the partners

·         Partnership firm allows sharing of the profit of the Firm. Each partner

·         A partnership firm is a mutual agency kind of agreement

·         A partnership firm has unlimited risk 

·         Partners have a contractual relationship due to the agreement

Partners of the Firm responsibility

A partnership Firm's main character is its partners are exposed to unlimited liability to the business.

The agreement between the partners laid out the dos and don'ts, along with profit and loss sharing.

Also, the partnership law Act doesn't give separate legal entities to the Firm.

If any unforeseen event happens and the business gets lost, the partners are liable for the risk to the company.

Partnership firm Filings in Bangalore

A partnership Firm as a business unit must comply with the income tax, Gst, PF and ESI rules and regulations for compliance.

TDS Filings

The Firm must comply with the TDS provisions as and when TDS is to be deducted and issue Form 16/16a

Non-filing of TDS liable for late fee and penalty

Gst filings

If the partnership firm business crosses Rs.20Lac, then you must do GST registration and filing.

PF and ESI filings

If you have an employee count of more than 10, you must have PF and ESI compliance in place. The partnership firm business must file the monthly PF and ESI return with the help of Team IN filings.

Benefits from Partnership Firm

·         Minimum capital required for Firm Registration

·         Start the Firm instantly no need for any separate license

·         Significantly lower cost to register the Firm

·         No statutory audit is directed to your Firm

·         Easy to operate and manage the books

Partnership Firm ITR tax filings in Bangalore

Income tax returns filings the partnership business.

Every year, the Firm's ITR filed before the 31st of July

Form ITR 5 is to be used to report the business's net profit or loss along with capital, liability, assets etc.

The partnership Firm Income tax rate is 30% of the net taxable income after adjusting the partner's remuneration interest payment etc.

Benefits from our Firm's in-house consultants

·         Professionally qualified consultants

·         Expert in the partnership Act and filings

·         Error-free Firm ITR tax filings from the last ten years

Apart from tax return filing, they are engaged in handling tax department notices, advising clients about resolving tax disputes, etc.

Partnership Firm Registration fee in Bangalore

Partnership registration fee is relatively lesser compared to other Companies.

·         Partnership Firm Registration fee: Rs.5000 plus govt. fee

·         Time required: 15 days from the date of receipt

Difference between Partnership Firm & LLP

The main difference is given below

LLP has a separate legal business, but the partnership has no such independent legal status

Under LLP, the partner has limited risk, whereas in partnership partner has unlimited risk

In LLP, there is no limit for the number of partners, but in partnership, it has 100 only 

LLP can hold property in its name, but a partnership cant hold property in its name

NRI can form LLP with foreign nationals, but in a partnership firm, no such option

Law creates LLP, but Contract creates partnerships with partners.

Why are Team partnership consultants different?

Our expert team of Firm registration consultants have worked with Big MNCs in the firm Registration, taxation department, and Accounting department for more than ten years; they hold LLP Act, taxation and financial management degrees from reputed institutes, including ICAI and ICSI etc.

They are giving benchmark advisory services at affordable fees across Bangalore.

They properly review the partnership Deed, Firm accounting, invoicing, purchase, etc., before taking a call on the tax planning and filings.

They have a good network with MCA, Roc and Tax office to minimize the litigations to clients.

We have a partnership firm registration and filing process with a benchmark fee.

Our partnership firm experts do quick checks. 

·         Review the required documents and advise accordingly

·         Internal assessment and update to management

·         Advise on the best option for management

·         Handover the finalized report for finalization of Firm books

The Team In filings Bangalore based consultants Firm comprised team members from CA and CS professionals practising from the last 10+ years in Bangalore, providing a host of services including partnership firm advice, tax advisory services, Company Registration, Trademark registration, Trademark objection filing, Trademark hearing, Company Registration, GST services, Tax return filing as well as Gst advice Service, Tax consultancy, and Management have been providing various tax planning, business setup filing-related services from the 15 years in India.

Find your Team IN Filings Firm management consultant to get the assured firm Registration and firm’s tax filing service on time with the best tax plansfast and efficiently with our Team members and get expert advice to help you with minimized risk advise Trademark renewal update. This includes LLP law periodical updates, Trademark status reports, Firm tax compliance, GST support invoicing software and free filing software. GST invoicing, cloud-based filing software, as well as Accountants Assistance. Partnership Firm Registration 5K+ is processed. Rapid and reliable Company tax filing service provider in Bangalore. Karnataka

Contact Team IN Filings

Trust our dedicated Team of professionals to get your Partnership Firm ready within 10 working days. 

Get in touch with our Team today and get a FREE consultation!

Reach us to manage your Accounting, Gst, Tax services, and Trademark.

Call at +91-7019827351 team@teamIndia.co.in to get your Firm done!

[asawari13]

Which are top-notch GST certificate courses available online?

Are you a GST aspirant looking for the top GST certificate courses accessible online? Don't be worried about it. In this post, we will provide you with expert GST advice to help you start your career and advise you in the proper direction. Along with this, we'll address the most frequently asked questions and quickly describe how certified GST professional training benefits professionals across the country.

In this day and age, the market has become cluttered with certification and training courses. Choosing the best GST certification is a critical step in breaking the ice. Furthermore, certificates can help you be hired right away with fairly high pay, professional advancement, and prospects to advance to senior levels.

The designation of Certified GST Professional provides significant value to your profession and allows you to stand out from the crowd of clones. So, without further delay, let's get started.

Understanding GST

GST is a term that we are all familiar with. But, exactly, what is it? First and foremost, GST stands for Goods and Services Tax. Furthermore, GST is a sort of indirect tax that is levied on the supply of goods and services in India. Furthermore, it is a comprehensive and multistage tax since it applies at every stage of the manufacturing process.

The tax, however, went into effect on July 1, 2017, as a result of the Indian government's enactment of the One Hundred and First Amendment to the Indian Constitution. 

Now that we've covered the basics of GST, let's look at who a GST practitioner is and what their obligations are.

GST Practitioner

A GST Practitioner is a counselor who provides services to other taxpayers over the Internet. Before beginning his or her employment, a GST Practitioner must register on the GSTN Portal and get a certificate through an application process. 

GST Practitioner's Role

Being a GST practitioner is a very responsible profession. Nowadays, the position of a GST practitioner is moving towards more forward-thinking practices. As a result, the GST practitioner must do any or all of the following activities:

First, provide information about outside and inward supply.

Second, you must submit monthly, quarterly, yearly, or final returns.

After that, enter any assets into the computerized cash ledger.

In addition, make a refund claim.

Finally, apply for registration cancellation.

Now that we've covered everything there is to know about a GST practitioner. Similarly, let us examine why there is ever buzz in the first place.

What’s with the GST hype?

The number of openings for GST practitioners in India is currently on the rise. Certainly, the need for GST practitioners is at an all-time high as a result of the country's diverse economic changes. However, because of the concept's novelty, professional GST talent is scarce. Not to mention a lack of expertise on the subject. As a result, the number of specialists capable of handling the new reform is insufficient.

As a result, profitable employment possibilities in GST are knocking on the doors of prospective GST specialists!

Because there is a scarcity of skilled tax practitioners in the sector. As a result, the present scarcity is encouraging young minds who want to understand the fresh and exciting GST law to make their professional debut in the GST area.

As a result, there is a greater emphasis on GST changes, which has boosted the need for GST specialists. Furthermore, it has greatly increased work prospects across industries. This has also created quite a stir in the market. 

The recruiting industry anticipates a significant increase from the new GST system, with over a lakh new job possibilities available immediately, mainly in taxation, accounting, and data analysis.

Jobs related to the application of GST (Goods and Services Tax) have been in high demand, particularly in the industries listed below, ahead of the July 1 rollout, as contrasted to the availability of GST practitioners.

GST Certification Is in High Demand

As GST is absorbed by a nation of 1.2 billion people, it has created a job scarcity for numerous accounting, finance, and tax specialists. Certainly, a GST certification course will demonstrate a thorough comprehension. Not to add, the practical features of GST will assist students in gaining visual acknowledgment for this understanding.

Jobs related to the application of GST (Goods and Services Tax) have been in high demand, particularly in the industries listed below, ahead of the July 1 rollout, as contrasted to the availability of GST practitioners.

GST Certification Is in High Demand

As GST is absorbed by a nation of 1.2 billion people, it has created a job scarcity for numerous accounting, finance, and tax specialists. Certainly, a GST certification course will demonstrate a thorough comprehension. Not to add, the practical features of GST will assist students in gaining visual acknowledgment for this understanding.

Now that you've learned everything you need to know to become a GST Professional. Let's go right to the point and find out which is the greatest GST certification course accessible online. But, just to be safe, let's first define the intended audience.

Who should take GST Certification?

The GST Certification Course can be audited by the following set of professionals –

Firstly, graduates of arts or commerce or engineering, Chartered accountants, Certified Management Accountants, Company Secretaries, and law aspirants.

Secondly, experts move from the finance domain to taxation.

Subsequently, individuals who require career opportunities in taxation.

Last but not least, finance experts who wish to meet their professional requirements in taxation.

What are the prerequisites for GST Certification?

This is the most often asked question. To be more specific, the answer to this question is no. To register for our certification course, you do not need any prior knowledge or experience. We welcome our students as blank slates so that our faculty may actively construct a picture of knowledge and confidence for them by guiding them through each step gently and progressively toward a bigger picture.

Now that you understand the GST certification's intended audience and criteria. Let's go right into the part on which certification body to choose.  

GST Certifications in 2023

Understand and keep in mind that there are just a few generally recognized certification bodies. As a result, make an informed decision. To make things easier for you, we've prepared a list of certification bodies that we strongly recommend. As a result, we will give you a selection of certifying bodies from which to pick. So, let's get started-

1. IIPTR Institute: As a certified Government entity, we strongly suggest IIPTR Institute. Aside from that, the IIPTR Institute offers the candidate all the relevant information. Furthermore, IIPTR Institute Professional Certifications are a win-win situation for everyone. There is no doubt that certification increases an individual's marketability as well as earning potential. Furthermore, several studies show that persons who possess an IIPTR Institute accreditation earn greater pay than those who do not.

2. ClearTax: This is also a good option to choose from. Not to mention, they provide detailed information regarding the same.

3. ICT Academy: You may have come across this one. If not, let’s be clear they are also a suitable match for GST Certification.

4. CAclubIndia: This is also among the leading certification bodies. They offer training and coaching that will be beneficial.

Candidates who complete the GST certification can do the following tasks:

First and foremost, the applicant acquires a general understanding of the GST legislation, including implementation, compliance, and enforcement.

Following that, comprehend how GST influences the operation of any organization. Furthermore, how the company process must adapt to comply with the new law.

Furthermore, get a practical understanding of the many procedures required by the GST Act, such as registration, return filing, obtaining Input Tax Credit, TDS (Tax Deduction at Source for Government Buyers) compliance, and refunds.

After completing the GST certification course, you should be thrilled about the benefits you will receive. So, let us examine all of the GST Certification Course's advantages.

GST Certification Course Advantages

Following successful completion of the course, the applicant will get the following perks. Listed below are a few advantages.-

First and foremost, it helps to increase an individual's wage by 15% to 25% on average.

Second, it expands the number of career options available to people.

As a result, it enables anyone to establish a consulting firm.

Furthermore, it aids in the development of various tax, financial, and accounting professionals' skills.

Finally, it provides a classroom setting for improved learning as well as planned course content.

Career Opportunities

This is to tell all graduates and prospective applicants that GST has opened the door to a whole new world of career opportunities. 

Whether in the industrial or service industries, practically every firm (large or small) must keep adequate books of accounts. Accounts executives, accounts managers, or even chartered accountants with GST understanding are required for this purpose. As a result, Certified GST Professionals are in high demand. Capgemini, Times Group Publications, and EY are among the top companies.

GST positions pay an average of Rs. 600,000 per year. In addition, the typical yearly pay for an Accounts Manager in GST Practitioner in India is INR 4.9 - 6.4 lakhs. These compensation estimates, however, are based on GST Practitioner salaries gathered from various GST Practitioner workers.

Final Words

The implementation of GST has the greatest impact on a variety of industries. Automobiles, Logistics, Home Décor, E-commerce, Media and Entertainment, and many more are among these industries. So, if you want to further your job, GST certification classes are an essential component.

Remember that during the interview, recruiters like to offer more credit and attention to candidates with certification vs those who are not qualified in any profession. As a result, it is strongly encouraged and a wise decision to enroll in a certification program in your desired area before attempting the recruiting process, which will almost surely boost your chances of acceptance.

[estartup2017]

Gst registration without bank account.

However, when you register under the GST scheme, you do require a functional Current Account. Therefore the business owner does not have to pay GST on Current Bank Account set up or functioning. Requirement of bank account details has been removed at the time of GST Registration. Now it is required after first login because normally a bank account cannot be opened before commencement of business. Bank account details can be added vide amendment of non-core field.

[realestateexperttips]

Importance of Linking Aadhar for Property Registration

When it was announced that the government would link all Indian properties with Aadhar, the decision was considered a crucial one. This would lead to the creation of a central database of ownership for each and every property. This, in turn, would help in identifying whether a property owner is paying all taxes properly and whether his /her income justifies the ownership of a property. If it doesn’t, then the government has the right to confiscate the property as a benami one. Of course, the entire process of linking all properties with Aadhar would be time-consuming and will require the help of state governments.

Making Aadhar Mandatory

Using Aadhar card for property registration is a strategic move to curb the problem of black money in property deals. Aadhar is an essential proof of identity from opening a bank account, getting a PAN Card to getting an LPG connection. The current government has massive plans to make Unique Identification Authority of India-based transactions mandatory in real estate dealings. All buyers and sellers must have a valid Aadhar number for registration of property. The government is also planning to make amendments to Section 32 and 32A of the Registration Act.

This would mean that any person who presents registration documents to sub-registrar of the state must undergo Aadhar registration. The registration process involves a bio-metric technique where the property is transferred to the buyer after the provision of the Unique ID and other bio-metric details. In the second half of 2017, it was reported that the Aadhar linked registration system was already in action on a pilot basis across many states of India. Local authorities were cross-verifying all proprietorship documents provided through online systems and they were also linking the documents with the unique Aadhar number.

Aadhar To Bring Ease Of Transactions All sub-registrar services have been linked to Aadhar servers so that it is easy to extract information during property registration. Moreover, as Aadhar is already linked to bank accounts of individuals, it will significantly ease-out the process of Property for Sale in Jodhpur, real estate transactions and securing home loans. However, what does a person do when s/he has lost the Aadhar card or does not have one yet?

Misplaced / Stolen / Not Possessing Aadhar If you have lost or misplaced your Aadhar card or number, there is no need to get a new one. All you have to do is visit your nearest Aadhar center in your city and provide bio-metric details, identity proofs etc. You will be provided with the card with the same Aadhar unique number. If you do not yet possess an Aadhar card, you should apply immediately. However, it is also possible to go ahead with property registration without a permanent Aadhar number through your temporary Aadhar, which is basically the Aadhar Enrollment ID, and register the property sale deed.

Getting Aadhar – Why It Is Important In case you don’t even have the temporary number, you have to apply for the card online and produce the acknowledgement receipt to the sub-registrar. Once you receive your Aadhar card, you need to visit the office once again to get eKYC-verified. Very soon the government could make linking of all properties mandatory. It would be the “next big move” after demonetization and GST. Hence, it is advisable to have your Aadhar card in place.

Are you looking for the best investment ways in Jodhpur? Surana Realtors is one of the Best Real Estate agent in Jodhpur, Rajasthan. The key to having a successful portfolio is to engage Rajasthan. The key to having a successful portfolio is to engage in different investments, and one of the most lucrative is Real estate Investment.

[emdunstall-blog]

Preparation Post: 

Hey Guys! My name is Emily and I have chosen to participate in the Welfare Food Challenge as my blogging assignment in my Global Health and Development course. Within this blog I will make daily posts that document my meals and experiences during this challenge. As I am currently in my second year of the BScN program, I believe that this challenge will open my eyes to the differences in socio-economic class and how this creates obstacles to maintaining a healthy lifestyle. This challenge was created to raise awareness of the inadequate welfare rates in British Columbia. They analyzed the amount of money that was received from Welfare and broke it down to cover an individual's necessities. After breaking down, they estimated that an individual supported by Welfare only had $21 for a weeks worth of food. This challenge lasts for one week and you may only eat what is purchased with 21 dollars (Welfare Food Challenge, 2017). 

Before heading to the grocery store, I had researched the cheapest foods available in my area, little did I know that it was “Dollar Days” at my hometown grocery store in Whitecourt, AB. After reading through the flyer, I had asked my super saver sidekick to help me make the most of 21 dollars. My mom. This grocery trip took over an hour and my mom taught me how to read price tags, weigh my produce and account for the GST. Now this was overwhelming, as I am the girl that runs to the grocery store, not taking the time to look at labs or read the price per 100kg. Lets just say that I had a little reality check when it comes to pricing produce. I was lucky that this grocery had Dollar Days on as I was able to buy fresh produce without breaking the bank. After placing items in my bag, I was keeping a running total on my phone calculator. Once I had reached the till, I was so nervous, waiting to see what I would need to put back or leave behind, this was a feeling I had never felt before.  I watched the cashier ring through my items, I was relieved when the total came up 20.91 dollars, nothing like cutting it close hey? 

I ended up coming home with..

4 ambrosia apples 

6 bananas 

1  head of iceberg lettuce 

1 lb bag of mini carrots 

1 bag of mixed frozen vegetables 

1 lb of lean ground chicken 

1 pkg of chicken hot dogs

1 dozen medium eggs 

1 can of crushed tomatoes 

1 pkg of chocolate pudding 

1 box of granola bars 

6 english muffins 

1 box of pasta 

4 pkg of instant noodles 

1 bottle of ranch 

1 pkg of mini chocolate chip muffins

I chose to sacrifice two kiwis and a second pkg of pudding for a bottle of ranch. I felt like a little kid when mom tells you to pick one or the other. And yes, I chose universal white sauce!

After taking my groceries home, I was happy with my choices yet I had this feeling of anxiety. Food insecurity is not a good feeling. As someone who grew up in a household where food was plentiful, I am curious to see how I feel and function by the end of the week. I’ll keep you posted, stay tuned!

[dgxltd-blog]

Forex, Stocks, Commodities, Indices on dgxltd

BSE, NSE, Commodity & Forex Markets Shut For Trade Today On Account Of Muharram

The National Stock Exchange and the BSE are shut for trade on September 10 on account of Muharram.

There will be no trading activity in forex and commodity futures markets as well. Wholesale commodity markets, including metal and bullion, too are closed for trade today.

Benchmark indices continued to gain on September 9 with the Nifty rising for the fourth consecutive session and closing above the psychological 11,000 mark for the first time in the last five trading days.

Despite hopes of a cut in the Goods & Service Tax (GST) rate for the auto sector fading and dragging indices lower in opening trade, the market recouped its initial losses and trended higher for the rest of session on positive global cues.

The Sensex on September 9 rallied 163.68 points to close at 37,145.45 and the Nifty 56.80 points to 11,003, driven by banking and financials, auto and FMCG stocks.

Technically, the Nifty has formed a bullish candle on the daily charts, followed by Doji candle formation on the weekly scale last week.

"The support for the index has shifted to 10,950-10,900 levels with resistance near the 11,070-11,130 zone. If it manages to sustain above 11,000 levels, the index can see a decent move towards 11,200 in the near term," Rohit Singre, Senior Technical Analyst, LKP Securities, said.

"In the absence of any major event, domestic macroeconomic data and global cues would dictate the market trend ahead. We expect the recovery to extend further and Nifty to retest 11,150 levels," Ajit Mishra, Vice President - Research, Religare Broking, told Moneycontrol. He advises traders to stick to go long on private banks, auto and infra counters.Are you happy with your current monthly income? Do you know you can double it without working extra hours or asking for a raise? Rahul Shah, one of the India's leading expert on wealth building, has created a strategy which makes it possible... In just a short few years. You can know his secrets in his FREE video series airing between 12th to 17th December. You can reserve your free seat here.

More information on https://www.dgxltd.com/

[legalservicesin]

Goods and Services Tax (GST) Registration and Its Types

If you're looking to register as a new taxpayer in India, it's crucial to understand the several types of GST registration. Then, you should be aware of the Taxpayer type you should select while registering as a new Taxpayer. For a flawless GST registration that is beneficial for your business and for you, you must be aware of the types and categories of your company.

Therefore, in order to launch and develop your business, you must now be aware of the meaning, requirements, and forms of applying for GST online.

What is Goods and Services Tax (GST) registration?

A taxpayer registers for Goods and Service Tax (GST) under one of the several categories of applying for GST online based on their needs through the GST registration procedure. After the registration process is complete, the GSTIN (Goods and Service Tax Identification Number) is provided. The 15-digit GSTIN, which is made available by the Central Government, is used to help determine whether a business must pay GST.

Who are eligible for various types of GST registration?

The following people and businesses need to apply for GST online:

People who registered for tax services prior to the implementation of the GST law.

A non-resident taxpayer and a transient taxpayer.

Those who use the reverse charge system to pay their taxes.

All aggregators for e-commerce.

Companies whose annual revenue exceeds Rs. 40 lakh. For exceptional categories, indicate Rs. 20 lakh.

Distributors and agents of a supplier should be included.

people who deliver things via an e-commerce aggregator.

Those who grant database access and online information to people who live in India from outside of India, aside from people who are registered as taxable persons.

What are the benefits of GST registration?

The following points are just some of the many advantages of GST registration:

Without worry, products can be offered both online and offline.

Products can be sold all around the nation.

No problems with the movement of goods.

Being a registration of a legal entity, GST registration serves as credible proof.

When purchasing any goods or services, an input tax credit is available.

A GSTIN is required to open a current bank account.

The GSTIN aids in boosting the company's brand value.

The acceptance of large projects by multinational corporations (MNCs).

Different types of GST registration

Compulsory registration

Depending on the circumstances, the dealer may need to register for GST regardless of revenue. For instance, interstate transactions of taxable commodities, e-commerce sellers, operators, etc.

Voluntary registration

Businesses that do not need to register for compulsory purposes can do so on a voluntary basis. Under GST, it is referred to as Voluntary Registration.

Registration under the composition scheme

The dealer can register under the composition scheme if the total turnover is greater than the prescribed threshold limit of Rs. 40 lac (Rs. 20 lac for special category states) for goods or Rs. 20 lac (Rs. 10 lac for special category states) for services, but less than Rs. 1.5 Cr. (Rs. 75 lac for special category states). In the case of services, the dealer may register under the Composition Scheme if the total annual revenue exceeds Rs. 20 lacs (Rs. 10 lacs for special category states). In accordance with this plan, the taxpayer is required to pay GST at a fixed rate on revenue, and compliance is lower than in the case of regular registration.

No registration

The following group of people are exempt from GST registration requirements:

The company whose total annual revenue does not exceed Rs. 20 lacs for special category states or Rs. 40 lacs for commodities during the financial year (Rs.10 lacs for special category states).

The company is exempt from the requirements for mandatory registration.

individuals who offer goods or services that are either GST-exempt or not subject to GST.

Agriculturists for the provision of crops made through land cultivation.

[auditorsandsecretaries]

Auditor In Tambaram

Auditor In Tambaram An Importer Exporter Code (IEC) is a key business identification number which mandatory for export from India or Import to India. No export or import shall be made by any person without obtaining an IEC. For services exports however, IEC shall be not be necessary except when the service provider is taking benefits under the Foreign Trade Policy. An individual or a business entity needs a 10 digit code to import or export products or services.

This code is known as Import Export Code or IEC and it is issued by DGFT, Ministry of Commerce and Industries, Govt. of India.Custom authorities need it to clear shipments during imports. The bank needs it to transfer the money when imports are made. Similarly during export the shipments the IEC is required. When exporter is supposed to receive money in foreign currency, IEC code is required to transfer the money to his account directly.

GSTR-9A:GST Composition Scheme under Goods and Services Tax (GST) are required to file GSTR-9A. GSTR 9C is applicable who obtain an annual GST audit of their accounts. GSTR-9C must be prepared and certified by a Chartered Accountant or Cost Accountant. GST audit is applicable for person having GST registration with an annual aggregate turnover of above Rs. 2 crores in a particular financial year. Every food business operator involved in the manufacturing, processing,

storage distribution and sale of food products must compulsorily obtain FSSAI Registration or License. FSSAI Registration is different from FSSAI License in the sense that depending on the size and nature of the business, FBO should obtain the necessary registration or license. FSSAI registration or license is based on the business volume and premises. Depending upon the installed capacity or turnover or location, applicant premises are eligible for the license such as basic license, central license, and state license.

Auditors in Tambaram The FSSAI license is essential to commence the food business, similarly it is imperative to renew the license. The license is issued for a validity of 1 year or 5 years.An improvement notice is if a Food Business Operator fails to comply with the food regulations set in the FSS Act, 2006. An improvement notice can be issued by a Designated Officer (DO) of the food safety department. Obtaining a license can provide the food business with legal benefits, build goodwill, ensure food safety, create consumer awareness, and assist in business expansion.

Also it helps regulate, manufacture, storage, distribution and sale of import food. Every banks is required a legal entity proof to open a current bank account. Each shop have to open a separate bank account for the daily transactions as per the RBI Compliance. so on the basis of the shop certificate you can easily open a current business bank account. Each state have a DIC Department which create the policy in the respective state for the all small business. On the basis of Shop License Registration Certificate you can easily avail the government benefits.

[onlineregistration]

What is the Procedure of Conversion Sole Proprietorship to Partnership Firm

What is Sole Proprietorship?

Partnership business is an association of two or more people, who agree to carry on the business together by combining their financial funds and managerial abilities and skills and share its gains and losses.

On the other hand, Sole Proprietorships are unregistered business institutions owned, managed, and operated by a single person. All the investments for the Sole Proprietorship business is done by the single proprietor who bears all the losses and enjoys all the profits. The overall control of the business as well as its management is in his hands.

Although, Sole Proprietorship is easy to start but with time it slows down your growth because a single person cannot expand his/her firm alone. So, if one is looking to add partners to their business without any hassle or hindrance, then it is advised to switch to partnership from proprietorship. Conversion is always possible provided that you fulfill the eligibility criteria of the business structure to which you are switching.

Procedure of Converting Sole Proprietorship to Partnership

Drafting of Partnership Deed

It would be the first step in conversion of your proprietorship firm into a partnership that begins with the drafting of the partnership deed of your firm.

Declaration of Transfer

The deed would be different from a regular partnership deed, as it would also make several references to the proprietorship business and declare that it has been transferred to the partnership firm. It must state how much capital will be invested by each partner, how profits and losses will be split and what will happen in case of the retirement of a partner for any reason.

The deed must also state all the changes that will occur on account of the introduction of the new business partners. Due care should be taken to include the details of the capital invested by each partner, salaries and shares in profits to be paid to partners, rate of interest on capital, profit sharing mechanism and responsibilities in case of losses. There should be no reason that may lead to unnecessary future disputes between the partners.

Important Inclusions:

All important details need to be included like the date of formation of the sole proprietorship, the name of the proprietor, the type of business and any other details, such as VAT and Service Tax registration, in which case the TIN and Service Tax number would need to be disclosed. You should ensure clear transparency in front of the authorities.

Registration

A new registration is not a necessary procedure in this case. Registering the deed will enable the partners to file suits between them or on the behalf of the partnership firm.The sole proprietorship immediately gets dissolved after the deed is attested and accepted by all the partners and the partnership deed comes into effect. Or alternatively, the deed could mention a date on which the partnership will commence.

Other Registrations

The partnership firm shall also have to apply for registration under other statutes as the nature of the business demands. For eg. In case the turnover exceeds the threshold limit, you have to  apply for registration under GST. Once the GSTIN is successfully generated, you are required to open a current account of the firm. After this, complete the process of seeding such Bank account details to GST registration.

Final Thoughts

It was the complete process of converting a proprietorship firm into a partnership. The entire conversion process takes time between a range of 7-10 days  and also depends on the documents provided by the person and the verification speed by the authorities. It should also be noted that similar procedures apply in other cases, where one legal entity converts into any other legal firm.

[taxacademy]

Benefits of Import Export Code Registration

In India, all individuals who conduct a business exporting and importing goods or services should obtain the IEC registration. The Directorate General of Foreign Trade (DGFT) issues a unique 10-digit code to the person after the IEC registration process is completed. Registration of the Import Export Code aids in the growth of a business. The authorities can issue IECs IEC only once, and the company's owner retains it for the time that the company is in existence.

Important in the context of the IEC Code

There is no time limit for validity. Once you've completed the IEC Registration process and provided all the required documents, The Import Export Code (IEC) is valid for the company's entire life and doesn't need to be renewed.

Business Growth - Introducing your products or services to the world market will allow you to expand your business. The Import Export Code (IEC) permits you to market your products in countries other than India.

No Return Filing Required - There is no obligation to file a return within the IEC Code. There is no further action necessary to ensure its validity. IEC Code once it has been issued.

Export Subsidies: Companies and companies can benefit from subsidies from DGFT and The Export Promotion Council based on IEC and the Customs department. Custom department.

The benefits of the IEC Code for Business

To obtain the IEC is the most effective method to establish yourself on the international market. Here are some points that can help you comprehend the benefits of IEC. Import Export Code

Simple Registration Procedure

The Directorate General of Foreign Trade (DGFT) has started an online registration process to register for ICE. Registered and unregistered organizations can request the permits and will receive the IEC code in 10 days. If you've already been reported for GST and have not registered for GST, you don't have to fret about a different IEC code. On the exchange level, the GSTIN is used as an identification number.

Benefits of the Government Scheme

Benefits provided by subsidies or other declarations through or otherwise declared by the Export Promotion Council, Customs, or other organizations could be offered at the discretion of IEC Code registered business organizations. Exporters can make exports without paying taxes once they have written a letter of commitment under GST. When taxes have been paid for the exports, exporters are entitled to reimbursement of the amount of taxes paid.

Exploring global markets

The essential advantage for your business will be the registration process for export and import codes. This will allow you to connect with an even more comprehensive array of nations and broaden your reach. This will significantly speed up the growth of your business, and this opens up a whole world of possibilities for your business and you.

There isn't a requirement for annual maintenance.

There is no annual or monthly maintenance charge after you've acquired your export and import codes, and the registration cannot be transferred and lasts for the entire duration of the existence of your business. Therefore, there is no requirement to schedule any reminders to ensure IEC Code filing and renewal.

Registration Based on PAN

The company's Permanent Account Number can generate this code. This means that registration is not dependent on the area of the business's location. Instead, an individual business might only have to register only once, and the registration is canceled or surrendered when the company dissolves.

Documents required for Import Export Code License

The PAN Card of a person or company copy

Copy of the electricity bill or rent agreement for the building

The individual's Aadhar Card, voter's ID, or passport duplicate

Self-addressed envelopes to allow registered mail to be delivered with the Import-Export Code (IEC) certificate.

Refuse to accept cheques for current accounts at banks of companies or firms and individuals.

FAQs on the Import Export Code

1. Do you need to get an IEC code to import personal items for personal use or exports?

An IEC Code is not required for personal use exports or imports, and it is not necessary for personal use imports or exports. Import Export Code is only needed for corporate and commercial reasons.

2. Do you need to submit IEC returns?

In the case of importing or exporting, receiving or making payments when making payments or receiving them, making payments, the IEC code is mandatory. There is no post-registration compliance; therefore, there is no requirement to make returns for the Import Export Code in India.

3. What is the validity of the Import-Export Code, which is valid in India?

IEC registration is a one-time event, and the IEC code is only a once-only registration that lasts for the remainder of the person's life. This means that the IEC code doesn't need to be renewed.

4. What are situations in which the IEC code isn't needed?

Departments of the government are in charge of export and import.

Personal-use items are either exported or imported.

Certain charitable NGOs that have been notified deal with exports and imports.

5. I run an export and import company; therefore, do I need an additional IEC Code for import-export activity?

There is no need to require any additional IEC codes to import or export, and there is just an IEC Code registration required for both Export and Import Activity in business.

Conclusion

In the current era of globalization, every business enterprise is looking for IEC Registration to expand their operations internationally. By obtaining an Import Export Code registration through appropriate compliances and procedures, entrepreneurs can grow their company to an international scale.

[superca]

Conversion of Sole Proprietorship to Partnership and its Governing Rules

Partnership Firm and Sole Proprietorship are two different business structures & also are different in terms of their working.

Sole Proprietorship registration is a popular type of enrollment of unregistered business institutions owned, managed, and operated by a single person.  The sole proprietorship is the “One Man Business Entity”. All the investments for the Sole Proprietorship business are done by the single proprietor who bears all the losses and enjoys all the profits. The overall control of the business, as well as its management, is in his hands. He can appoint individuals for conducting the business, but the ownership will rest solely with him.

A Sole Proprietorship is easy to start but can also hamper your growth with time. After all, it’s difficult to build a big business as a single person. If one is looking to add partners to their business without any hassle or hindrance, then it is recommended to switch to a partnership from sole proprietorship registration. Conversion of business to partnership is possible and you can always choose to do so. It is very common for sole proprietors to convert their business into partnerships and private limited companies after the business starts growing. But due to a ton of information scattered online, many people get confused.

It should be noted that there is no specified provision on how to convert a sole proprietorship registration into a partnership. But still, there are various mentions in the GST Act on converting a sole proprietorship registration into a partnership firm. It includes obtaining GST registration for partnership, Drafting a partnership deed followed by transfer of unutilised Input Tax Credit (ITC) to partnership firms, and cancellation of GST of sole proprietorship registration.

Procedure For Conversion Of Proprietorship Into A Partnership

Drafting of the Partnership Deed

Drafting of the Partnership Deed would be the first step in the conversion of a sole proprietorship into a partnership firm. The major inclusion in the deed must be the declaration about the sole proprietorship which is being converted into a partnership by adding more partners and bringing in investment. The deed must state how much capital will each partner invest, how the profits and losses are split and what happens after retirement to one or more partners.

The deed must also state the details of all the changes expected to occur with the introduction of the new business partners. Due sare should be taken to include the details of the capital invested by each partner, salaries and shares in profits to be paid to partners, rate of interest on capital, profit-sharing mechanism and responsibilities in case of losses. There should be no reason for vagueness that may lead to unnecessary future disputes. Further, the deed shall mention the proposed date for starting the operations of the partnership.

All changes that will occur on account of the introduction of the new partners should be recorded. If there is a change in the registered address of the business, the same should be included as well.

A new registration is not a necessary procedure in this case. Registering the deed will enable the partners to file suits between them or on the behalf of the partnership firm. The sole proprietorship immediately gets dissolved after the deed is attested and accepted by all the partners and the partnership deed becomes effective.

Obtaining GST Registration for Partnership

Once the partnership deed is ready, the taxpayer has to apply for the PAN number with the income tax department as it is a mandatory prerequisite to apply for registration under GST.

Once the GST number is successfully generated, it is required to open a current account of the firm. After this, complete the process of seeding such Bank account details to GST registration.

The partnership firm shall also have to apply for registration under other statutes as the nature of the business demands. In case the sole proprietorship firm owns a trademark, the change regarding the inclusion of partners needs to be added in the trademark registry as well.

Stamp Duty

For confirming the validity of a partnership deed, the partners must pay the stamp duty required as per the capital of the firm. The amount of stamp duty payable depends on the amount of capital contribution by partners. The rate of duty is prescribed under the State Stamp Act that differs for every State. Amount of ₹ 500 is included in our package.

Cancellation of Sole Proprietorship Registration

Now finally, in a proprietary firm, file all GST Returns and pay pending taxes.

Once all tax dues are paid off, apply for cancellation of Sole Proprietorship Registration through Form GST REG 16 giving reasons as ‘Change in legal Structure of firm’. It will also ask to enter the GST number of the new Partnership firm.

After this, transfer all assets and liabilities into partnership firms as the sale of the business by the proprietor to a partnership firm. Further, the proprietorship firm under offline or online sole proprietorship registration has to file all GST returns till the new GST registration of the partnership’s date is announced. The partnership firm has to start filing the GST returns from the date of new online GST registration.

It has been provided under the GST laws that in case of such conversion, there is no need to pay GST on such transfer of assets from one entity to another.

However, it is also provided that, in case of conversion, existing firms should cease to be taxable persons at all i.e there should not be any movement in existing firms after transfer of all assets.

It was the overall process of converting a proprietorship firm into a partnership business. It should also be noted that almost the same procedures mentioned above apply in other cases, where one legal entity converts into any other legal firm.