PAN APPLICATION

• PAN stands for Permanent Account Number issued by Income Tax Department under Income Tax Act, 1961.
• Individuals, Firm, Company, Association of persons, Body of Individual, Hindu Undivided Family, co-operative society, Government Agencies, Artificial Juridical Person, Local Authority, Limited Liability Partnership, Trust and all those whose income are taxable under the Income Tax Act, 1961 are required to acquire a PAN Card.
• PAN has become almost mandatory, as its not just a reference number for income tax purpose but over a period it has became mandatory for many other utilities say other tax registrations, bank account opening, foreign travels, obtaining loan from Bank/NBFC, buying Mutual Funds, mandatory for making payment for more than Rs.50,000/- for many utility payments, buying and selling securities, property purchase, etc.
• PAN application must be made for allotment of TAN in Form 49A along with the required supporting documents

TAN APPLICATION

• TAN or Tax Deduction and Collection Number (TAN) is mandatory 10-digit alpha numeric number required to be obtained by all persons who are responsible for Tax Deduction at Source (TDS) or Tax Collection at Source (TCS) on behalf of the Government.
• Tax deducted at source (TDS) ensures that the Government's collection of tax is proposed and the responsibility for paying tax is diversified.
• The person deducting the tax at source is required to deposit the tax deducted to the credit of Central Government - quoting the TAN number.
• Application must be made for allotment of TAN in Form 49B along with the required supporting documents.
• Based on the application, the TAN will be allotted to the entity and the entity must quote the TAN in all TDS/TCS returns, TDS/TCS payment challans and all TDS/TCS Certificates

• Online Professional Tax Registration is levied by Municipal Corporations by various states in India.
• People who carry the profession such as CA (Chartered Accountant), lawyers, doctors etc needs to pay these taxes to the government.
• The owner of a business is responsible to deduct professional tax from the salaries of his employees and pay the amount so collected to the appropriate government department.

DOCUMENTS REQUIRED FOR PROFESSIONAL TAX REGISTRATION

1. Company charter documents (MOA & AOA)
2. Place of business proof with ownership details
3. Place of residence of all the directors with ownership proof
4. Two photographs of the all the directors
5. PAN of business and all the directors
6. Cancelled cheque from company’s current account and director’s saving and current account.
7. Shop and establishment certificate

• GST (Goods and Services Tax) is essentially an Indirect tax which has been implemented to replace numerous taxes in India.
• As per the changes in the 32nd council meeting, the threshold limit for GST registration is 40 lakhs for the supplier of goods and 20 lakhs for the supplier of services.
• Online GST registration was passed in the Parliament on 29th March 2017 yet it became effective on 1st July 2017 in India.
• Along with that, the North-Eastern States have an option to choose between 20 lakhs and 40 lakhs.
• Once you have registered under this regime, you will receive a unique GSTIN (Goods and Service Tax Identification Number).
• There are various advantages of GST registration. You can also avail input tax credit and collect GST from recipients of goods and services.

DOCUMENTS REQUIRED FOR GST REGISTRATION

PROPRIETORSHIP	PRIVATE LIMITED	PARTNERSHIP/LLP
PAN Card of Owner	PAN Card of Company	PAN Card of Partnership
Aadhaar Card Of Proprietor	Aadhaar of All Directors	Aadhaar of Partners
Bank Details	Bank Details	Bank Details
Address Proof	Address Proof	Address Proof
	MOA, AOA and Incorporation	Partnership Deed/ LLP Certificate

• Registering a firm under the Partnership Act is not mandatory as in the case of setting up a company.
• You get a legal proof of the firm's existence.
• Apart from that, the Act provides various benefits and rights to every partner - filing a suit in case of disputes, settling claims against third/external parties, etc.
• In case of any disputes, a court of law would first check the terms and conditions under which the partnership was formed Registration of Partnership Deed takes care of this.

• MSME remains for Micro, Small, Medium Enterprises and any venture that falls under any of these three classifications.
• MSME ventures are the foundation of any economy and are a motor of financial development, developing fair advancement for all.
• In this manner, to help and advance MSME enterprises by the Government of India through different sponsorships schemes and promote these companies through the MSMED Act.
• To profit the advantages under the MSMED Act from Central or State Government and the Banking Sector, MSME Registration is required.
• Under MSMED act every MSME needs to get registered whether the business is service related or for manufacturing.
• MSME registration is a useful extract exclusion plot, impose endowments, control tax sponsorships, capital speculation appropriations, and others.

DOCUMENTS REQUIRED FOR MSME REGISTRATION

1. Aadhar Number
2. Owners Name
3. Name Of The Enterprise
4. Type Of Organization
5. Pan Number
6. Official Address
7. Date Of Commencement
8. Bank Details
9. Personal Details