• Statutory registers, as per company’s act are the registers which can contains specific record of the company’s shareholders, directors, deposits, loan & guaranty, etc and needs to be placed at registered office of the company.
• As per the various provisions applicable of the companies act, 2013 and the rules frame hereunder, requirement to maintain the statutory register arises. The companies and on-officers in default for non-compliance of these sections and rules attracts huge penalties.
• To avoid the penalties and maintain good corporate governance, it is always advised to maintain the statutory register.

Under the Companies Act, 2013 registers to be maintained:

1. Register of the Company
2. Register of Members
3. Registers of Charges
4. Register of directors and key managerial personnel
5. Register of Employee Stock Options

WHO NEEDS TO DO ROC FILING

• Each year MCA annual returns must be filed by all companies registered in India like private limited company, one-person company, limited company and section 8 company.
• Within 30 days of incorporation, all companies prior to filing their annual return irrespective of turnover or activity is required to appoint an auditor.

ROC ANNUAL FILING FORMS:

1. Form No 23AC (Balance Sheet) and Form No 23ACA (Profit & Loss Account)
2. Form No 20B and Form No 21A (Annual Returns)
3. Form No 66 (Compliance Certificate)

• Income Tax Compliance refers to the degree to which a taxpayer complies (or fails to comply) with the tax rules of his country.
• Taxes are calculated on the annual income of a person, and an annual cycle (year) in the eyes of the Income Tax law.
• India starts on the 1st of April and ends on the 31st of March of the next calendar year.
• The law recognizes and classifies the year as “Previous Year” and “Assessment Year”.
• The year in which income is earned is called the previous year and the year in which it is charged to tax is called the assessment year.

CORPORATE INCOME TAX RETURN

All levels of Government levy Corporate Income Tax (Both Central & State).

Corporate tax is levied on the profit of a firm & different rates are used for different levels of profits.

Thease taxes against profits earned by businesses during a given period for which taxation is done; (generally applied to companies’ operating earnings).

Earns the corporate income needs to file corporate income tax return and also essential that needs to be filed regularly.

PERSONAL TAX RETURN

Personal tax return in India is filed by both single & marries individuals.

This type of tax return is filed by individuals who earn certain kind of an income.

Personal tax is paid on one’s individual income and is different from the tax paid on firm’s profits.

The owners or the shareholders have to pay tax on both, their personal income (such as dividends) as well as the firm’s income (profits).

It can provide you with best Personal Tax Return Service. We also help you with filing of TDS Return as well.

We can help you with personal services pertaining to Income Tax Return.

TDS RETURN

On successful TDS payment, the deductor is required to issue TDS certificate on yearly/quarterly basis.

Tax Deducted at Source refers to a means of collecting income tax in India, under the Indian Income Tax Act of 1961.

Any payment which is covered under these provisions shall be paid after deducting prescribed percentage.

The tax which is deducted at source is known as TDS as the name suggests.

It is compulsory for all corporate and government deductors to file their TDS returns on electronic media (e-TDS/TCS returns).

The tax which is deducted at source is known as TDS as the name suggests.

The deductors who are not corporate/government deductors can file either in physical or in electronic form.

So if you are facing any problem regarding TDS return filing services, just contact us, and we can solve your query with the help of our own professional team.

ADVANCE TAX COLLECTION

Advance tax means income tax should be paid in advance instead of lump sum payment at year end which is also known as pay as you earn tax.

These payments are made in instalments as per due dates provided by the income tax department.

It is not possible for the tax authorities to estimate the income of a person till it is earned and this figure will be better known by the person earning the income.

Advance tax is paid if the total tax liability is Rs. 10000 or more. Senior citizens, who are 60 years or older, and do not run a business, are exempt from paying advance tax.

If the taxpayer does not pay advance tax as per the schedule mentioned above, penal interest has to be paid along with tax dues, before filing of income tax return.

LIGITATION ASSESMENT

Litigation is the claim of damages decided by legal proceedings.

Litigation by definition is a legal method for setting controversies or disputes between and among persons, organizations, and the state.

If you are supplying goods or services from one to another in multi-department, multi-office, or multinational firms then transfer pricing needs to be done and you can approach us for these services.

• Goods and Services Tax (GST) is an indirect tax (or consumption tax) used in India on the supply of goods and services.
• It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes. Multi-staged as it is, the GST is imposed at every step in the production process, but is meant to be refunded to all parties in the various stages of production other than the final consumer and as a destination-based tax, it is collected from point of consumption and not point of origin like previous taxes.
• Goods and services are divided into five different tax slabs for collection of tax - 0%, 5%, 12%, 18% and 28%. However, petroleum products, alcoholic drinks, and electricity are not taxed under GST and instead are taxed separately by the individual state governments, as per the previous tax system.[citation needed] There is a special rate of 0.25% on rough precious and semi-precious stones and 3% on gold.[1] In addition a cess of 22% or other rates on top of 28% GST applies on few items like aerated drinks, luxury cars and tobacco products.[2] Pre-GST, the statutory tax rate for most goods was about 26.5%, Post-GST, most goods are expected to be in the 18% tax range.

GOODS KEPT OUTSIDE THE GST

1. Alcohol for human consumption (i.e., not for commercial use).
2. Petrol and petroleum products (GST will apply at a later date), i.e., petroleum crude, high-speed diesel, motor spirit (petrol), natural gas, aviation turbine fuel.

• The Foreign Exchange Management Act, 1999 (FEMA) has been in force from 2000, thus replacing the old Foreign Exchange Regulation Act (FERA) 1973.

OBJECTIVE OF FEMA ACT

1. The main objective of FERA was conservation and proper utilization of the foreign exchange resources of the country.
2. It also sought to control certain aspects of the conduct of business outside the country by Indian companies and in India by foreign companies.
3. When a business enterprise imports goods from other countries, exports its products to them or makes investments abroad, it deals in foreign exchange.
letters of credit or bills of exchange, expressed or drawn in Indian currency but payable in any foreign currency.
4. Foreign exchange means 'foreign currency' and includes deposits, credits and balances payable in any foreign currency and secondly drafts, travelers, cheques,

Purpose of the Act

1. The preamble to FEMA lays down the purpose of the Act is to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India.
2. Rationale for strict regulations under FERA 1973. After Independence India was left with little forex reserves and during the oil Crisis of seventies ballooning oil import bills further drained foreign exchange reserves.

• The price charged by individual entities for goods or services supplied to one another in multi-department, multi-office, or multinational firms.
• Transfer pricing is setting of the price for goods and services sold between controlled/related legal entities within an enterprise.
• When two or more associated enterprises companies enter into a joint contract during a global transaction in order to allocate a particular cost incurred in relation with a profit, service or facility presented by any one or all of the companies, that cost shall.