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Devna Juyal and Associates are the largest service provider on the PAN India basis and now we have expanded our areas in registration and compliance services as other registration services. We are committed to provide solutions to various business entities of their problems related to compliance with various laws and regulations which are applicable to them. Some of the services are herein listed below:-

Registration Services provided by Devja Juyal and Associates

1. PAN Card Registration :

 A PAN Card is an important document for any citizen of India for proof of their identity and all the tax purposes. PAN Card is a Permanent Account Number. A PAN Card Number is a special 10 digits number that is assigned to all the taxpayers of India. Application process of PAN Card can be done by online as well as offline mode. Applicants can visit NSDL OR UTIITSL Website for online registration. For offline registration, an applicant has to download the application form and submit this form to the agency.

2. ROC Filing :

Each and every company incorporated in India is mandatory to file the annual accounts and annual return with the Registrar of the Company as per the company Act, 2013 within 30 days and 60 days respectively from the conclusion of the Annual General Meeting. If a company fails to file the ROC then it could result in penalties and fines. For filing the ROC you can download the forms from MCA Website.

3. DSC Registration :

Digital Signature Certificate is nothing but the digital or electronic form of a physical certificate. Examples of physical certificates are Drivers’ license, membership card or passport. The purpose of these certificates is to behave as the identity of an individual. For example, a driving license is the proof of a driver that he/she can drive legally in a particular country. Similarly, a digital certificate behaves like the same. Here you can represent the certificate electronically to prove your identity, to retrieve information or services on the internet or to sign some documents digitally.

Digital Signature Applicants can directly contact the Certifying Authorities(CAs) and they need to submit the original documents and self-attested copies. Applicants can also get the DSCs from the CA using Aadhaar eKYC based authentication. Then a letter issued by a bank containing all the information of a Digital Signature Applicants can be accepted but the letter should be certified by the bank manager.

4. ESIC Registration :

 Employee State Insurance Corporation(ESIC) is an autonomous body make by the law under the Ministry of Labour and Employment, Government of India. Basically this plan is began for Indian Workers. In this plan, the workers are offer a different variety of medical and other benefits related to money from the employer. Any unseasonal factory or company which has  more than  employees (20 employees in some states) who have a maximum monthly salary of 21,000 has to compulsory register itself with the ESIC.

According to this plan, the boss of the company needs to contribute an amount of  3.25% of the total monthly salary that is payable to the employee. However the boss of the company needs to contribute only 0.75% of his/her monthly salary. There is only relief in the contribution to those employees whose salary is less than 176 rupees per day. This application process is completely online process. Applicant can register through ESIC Portal.

5. ESIC Return Filing :

ESI registered organizations have to File ESI Return on the monthly basis. This scheme comes under the ESI Act 1948. Employees’ State Insurance Corporation(ESIC) gives benefits to the employee in case of medical issues, death etc. You can File ESIC Return by login in to the ESIC Portal. The ESI Return is filed on the half-yearly basis. For the period of April to September is due by 12 November and October to March is due by 12 May.

6. EPF Registration :

EPF full form is “Employee Provident Fund”. Employee Provident Fund is a retirement saving scheme for the salaried employees provided by the government in India. In this scheme a fixed interest is paid on the regular basis. This benefit given by the employers to their employees on the basis of their salary. EPF Registration is compulsory for the organization which has more than 20 employees. The government announced that an organization which has less than 20 employees should contribute towards EPF by giving them two months’ notice. The employer and employee both have to contribute 12% of the employee’s salary towards the EPF. If the organization has less than 20 employees, then the contribution of the employee is 10%.

7. EPF Return Filing :

EPF full form is “Employee Provident Fund”. Employee Provident Fund is a retirement saving scheme for the salaried employees provided by the government in India. In this scheme a fixed interest is paid on the regular basis. This benefit given by the employers to their employees on the basis of their salary. 

Due dates of Filing EPF Return : Due date for filing EPF Return is every year of 30th April for yearly return and for monthly returns the due date is the 15th of the subsequent month.

8. TDS on Sale of Property :

As per provision of section 194-IA of Income Tax Act, TDS is required to be deducted by the buyer when he buys any property having a value of Rs.50 Lakhs or more @ 1% of Sale Consideration. TDS is required to be deducted at the time of making the payment or credit whichever is earlier. There is no obligation to deduct TDS if the amount of consideration is less than Rs.50 Lakhs. TDS is required to be deducted each time the payment is made in installment. PAN is mandatory while deducting TDS if PAN is not furnished by the seller then TDS is required to be deducted @ 20%. There is also an obligation on the buyer to furnish PAN details.

9. TDS Returns :

TDS Return is a statement  which needs to be filed quarterly by the deductor stating the amount of TDS deducted and deposited with the government. It is required to be deducted by a  person making specified payments and is required to be deducted at the time of making such payments. If TDS return is not filed within the due date than a fine of Rs.200/- day is required to be paid from the due date of filing the return till the date payment has been made. However the maximum fine cannot exceed  Rs. 5000.

10. Bookkeeping and Accounting :

Bookkeeping is the process of recording financial transactions that are related to the business operation of an entity. It is nothing but the perpetual recording of financial transactions in a well manner in the account book of a system. Bookkeeping requires skills and experience of an accountant. It also explains the accounting information for both internal and external users for making business decisions. Bookkeeping is done by the junior employee of the organization.

Accounting includes recording, classifying and summarizing financial transactions in a well manner. Simply Accounting inspect the information that is prepare by the Bookkeepers to create statements, financial metrics and reports that give the understanding of the company’s operations.

11. GST Return :

Return is require to be file when a supplier starts business and becomes liable for registration and will need Quarterly file a return called GSTR 1 by a Taxable Person having a Turnover up to 1.5 Crore in the Quarter. Further there are certain regular returns which are require to be furnished GSTR 2 under section 38 i.e.by 20th Of the Month. In addition to the above mentioned returns Annual Return is also require to submit Reconciliation Statement under Form GSTR 9C. The return filing website is www.gst.gov.in.

12. GST Refund :

Whenever a Registered person called Taxpayer in case Of GST pays tax in excess of the amount which is actually due to the Government than the government will pay back the excess tax  over due amount to the Registered Person the amount  in excess of is called REFUND. There is a time limit for claiming refund under GST . The time limit specified in the Act is TWO years from the date of payment. If goods are not exported within time and Registered person fails to pay the amount within the stipulated  time period than the facility provided to Registered person to pay GST under Bond and LUT will be withdrawn  immediately and recovery proceedings will be initiated as soon as possible. 

13. Input Tax Credit :

Input Tax Credit is introduce under GST to avoid cascading effects of various taxes and to make GST on which tax can be collected based on the destination in which it is being consumed. Every Taxable person can avail credit of tax paid on Inputs, Input Services and Capital Goods used for purpose of Business. A registered person can take credit for tax paid on inward supply of goods and / or services used or intended to be used in the course or furtherance of business. If Goods receive in Lots then in that case ITC can only be availed upon receipt of last Installment. If value of Goods or services plus tax on goods and services is not receive within 180 days of Issuance of output tax liability. The Taxable person taking excess claim will have to pay interest of 24% on excess claim or claim wrongly availed.

14. Income Tax Return Filing :

Income tax is a type of tax charged by the government on the basic income earned by an individual or business during a financial year.  It is a source of revenue for the government. The Collections collected from this are use for public services, pay government obligations and provide goods and services for citizens. For filing ITR, Log in to the portal of income tax department.

Types of tax :

Direct Tax : Direct tax is a type of tax in which the government directly imposes tax on the income of an individual or an organization.

Indirect Tax : Indirect tax is a type of tax in which tax is collected when the customer purchases a product. The tax is already include in the product’s price.

15. Consultancy in Income Tax :

Consultation means taking guidance before taking any decision and  implementing in the business. It helps the business to run in a systematic way at the same time within the purview of law. Income Tax consultations include the following

• How to minimize Tax burden within boundaries of law.
• Tax Planning
• Tax Management

Generally the need arises for an Income Tax Consultant when the management and the person is not able to follow the rules of running their respective businesses and areas of work. Income Tax consultant not only reduces the burden of tax compliance but also increases the efficiency and effectiveness of business.

16. Promotion, Formation and Incorporation of a company :

• Private Company : This company has a minimum of two people who handle it. This company isn’t under the government and is run by a small number of company members. This company is a closely held organization and is an unlisted company.
• Limited Liability Partnership : Limited liability means that if a partnership fails, then the creditors cannot go for a partner’s personal assets or income. It has a partnership structure where the liability has limit to the amount they put in a business.
• One Person Company : Such companies are created when there is only 1 owner. Many startups & young entrepreneurs like to work as one person. But they can only have 1 shareholder, which is a disadvantage when compared with other private companies.
• Public Limited Company :  A public limited company is the legal designation of a limited liability company which offers their own shares to the general public and has limited liability.  
• Sole Partnership Firm :  It is an individual entrepreneurship; aka sole trader ship or a proprietorship where a single individual manages, owns and controls the company. rights and there is no legal distinction between the business entity and the owner.

 

 

November 16, 2022