Govt to Centralise New Company Registration Process to Improve Ease of Doing Business

In a significant step towards improving the ease of doing business, the Corporate Affairs Ministry will soon centralise the whole process related to registering a new company and strive to complete the processing within a day in wholly owned subsidiary in India.

The Central Registration Centre (CRC) to speed up services for incorporation of companies, set up by the Corporate Affairs Ministry, is already functional in Setting up a subsidiary in India.

The Ministry, which is implementing the Companies Act, has been taking various measures to further improve the ease of doing business in the country, a priority of the current government.

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Mistakes To Avoid While Doing Tax Planning in 2017 ?

One of the biggest investment errors we make during pressing times is to invest just to avail the tax deductions. Do not therefore make any investment just for the tax deduction. Tax planning is not about saving taxes but it is an important part of overall financial planning and should ideally be planned throughout the year in service tax registration in India.

But unfortunately, we all consider it one time activity which we undertake generally in the last three months  of the  financial year without giving much thought on how it is going to impact our overall finances.  

" One of the biggest investment errors we make during pressing times is to invest just to avail the tax deductions. Do not therefore make any investment just for the tax deduction in service tax consultant in Delhi. There are only three months left for doing tax-saving investments for the year 2015/16. Most of you would have received emails from your human resource department to submit tax proofs. So, if you have not done your tax saving investments for the year yet, try not to commit the following mistakes in haste.  

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Register a new Company With Company Formation India

Registering a new company could not be simpler when registering online with company formation India. We are companies house e-filing partner which allows us to set up new limited companies online for our clients in the UK and overseas through our sister company. The company incorporation India website is integrated directly with companies house allowing you to check the availability of your company name. We can help clients from their companies within just 3 hours through our quick online company formation service.
What type of company do you want to form?
UK limited company
Limited liability partnership
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Readymade company
Company limited by guarantee
Public limited company
Company formation online a quick and easy way to register a new company

Company formation in 6 simple steps
Choose your company name
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Submission to companies house

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More Online Services May Face Google Tax

The government is likely to expand the scope of the equalisation levy, the so-called “Google tax”, to bring more digital transactions into the tax net in the upcoming budget to curb tax avoidance by multinational chartered accountant firms in mumbai. Online sales of goods and services; downloading of software, songs, movies and books; and online consumption of news are among the services that the government may consider for the levy.
“Internationally the trend is to bring more digital transactions into the tax net as multinational companies end up avoiding taxes. It was just a beginning last year when we introduced a six per cent tax on online advertisement,” said an official. The government has imposed a six per cent levy for business-to-business transactions on income accruing to foreign e-commerce companies from India for specified services like online advertisement. It has been imposed on non-resident companies without a permanent establishment for incomes exceeding Rs.1 lakh a year.
The government has earned Rs.100 crore in revenue on account of the equalisation levy so far. Companies like Facebook, Yahoo, Twitter and Google earn significant revenues from India from local advertisers. A committee set up by the Central Board of Direct Taxes to examine indirect taxation in India of e-commerce had recommended an equalisation levy of 6-8 per cent on 13 broad services based on the OECD’s Base Erosion and Profit Shifting guidelines.
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Business Made Easy With Payroll Outsourcing

In order for many business to be more productive efficient and profitable while saving on money and resources has been one of the famous options that even large companies find hard to resist. One respect of business that is being outsourced today is outsourcing payroll processing, which is said to be most time-consuming and costly task of running a business.
Effective business management can be achieved through outsourcing since you will significantly reduce the amount of work you will face while you take care on sales and marketing for your company to be even more successful and profitable. Outsourcing an aspect of the business will help you streamline and integrate various processes within your company.
You have specific requirements difference from other companies operating within your industry. But the bottom line here is that you will definitely benefit if you want to significantly reduce the overall administrative cost of running a business. So what can you make of outsourcing payroll services as one of the options you can take in business management.
Providers that process payroll Nevada has will also generate the necessary reports, provide pay slips and even file taxes in a timely manner. It prevents you from out on tax filing thereby reducing your losses on fees and charges. Also providers see to it that the reports made are precise and accurate so that you don’t have to spend unnecessarily on report amendments.
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5 ways to Maximize you Income Tax Return

Taxes are unavoidable but you can surely minimize its impact by filing the income tax return every year whether you have invested your money or made large payments against loan travel or insurance it’s time to look back at the year to maximise your deductions and thereby lower your tax burden

There are many heads under payments and investments against which you can claim your deductions, but here are the top 5 that you shouldn't miss out:

1. Contribution made towards Public Provident Fund (PPF)

Investments in these small saving instruments start from as low as Rs 500 up to Rs 1.5 lakh with a rate of interest at 8 per cent per annum.

While the lock-in period is 15 years, withdrawal is possible under certain conditions.

The investment, the gains as well as the withdrawals are completely tax-free. Internal auditor in India

2. Employer's Provident Fund (EPF)

The employer's contribution to your EPF is tax-free, and your contribution is tax-deductible under Section 80C of the Income Tax Act.

The total PF amount deducted annually can be claimed by you as deduction while computing your total taxable income.

So the money you invest in your EPF, the interest earned and the lump sum withdrawal after the specified period are exempt from income tax. service tax consultant in Delhi

Boost profits & Grow Your Business Implementing These Awesome Benefits of Accounts Outsourcing

The rise of the online community has changed the way in which we do business forever.  It has brought us closer to people that can help with our day to day operations as well as backend business needs, enabling our businesses to run smoother and turn more profit.  One of the key places that this has really made a difference for business owners is in outsourcing payroll processing.

Payroll management services is much like going to the dentist—no one really wants to take the time out to do it but neglecting the issue can lead to serious repercussions.   For the most part, this is why business owners just want to hire someone to do it and not have to think about it themselves until March or April.
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Government Rules Out tax Incentive Beyond Rs 2 lakh for Second Home.

Ruling out rollback of the proposal to restrict tax incentive for second home to Rs 2 lakh per annum, Revenue Secretary Hasmukh Adhia on Saturday said there is no point in subsidising purchase of second property by those who have surplus funds. Moreover, he added that the tax incentive for second home loan borrower is being “virtually misused.” foreign companies subsidiay
Citing limited resources, he said it is prudent to subsidise first-time buyer and not the second property owner who is not staying in that but earning income from the second unit. The Finance Bill 2017 has restricted set-off of loss towards second home against other heads of income up to Rs 2 lakh under Section 71 of the Income Tax Act. service tax consultant in delhi

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Want to calculate your income tax? How you can do that?

If you think that calculating taxable income is a big thing, then you are wrong. It is simple the only thing you need to know is about the deductions and exemptions you are claiming for and the relevant sections. However, one must take the help of a chartered accountant or a financial advisor in doing so in wholly owned subsidiary in India
The salary received by an employee is taxed under the head income from salary. The computation of tax is done mainly on the gross salaried person in company incorporation in India.
It is necessary for every individual to understand the basic calculation for computing income tax. Suppose, somebody is earing an annual salary income of Rs. 11 lakh and has done the following investments In the financial year.

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India, Singapore Revise Tax Treaty

The government signed a pact with its Singapore counterpart on 30th Dec, 2016, amending their decade-old tax treaty, gaining indirect taxation in India rights over capital gains. This is the third double taxation avoidance agreement (DTAA) amended so far this financial year with a zero or low tax jurisdiction. The other two were with Mauritius and Cyprus. According to tax consultants in India, Mauritius would be the most attractive source of investments into India for debt funds and Singapore for equity investments. Mirroring the revised IndiaMauritius DTAA, the government has some grandfathering provisions (having the old rule continuing to apply for some existing situations, with the new one for all future cases) and a two-year transition benefit to investments from Singapore. The revised pact will take effect from April 1, 2017. For two years from that date, capital gains tax will be imposed at 50 per cent of the prevailing domestic rate. The short-term rate is 15 per cent at present. The full rate will apply from April 1, 2019.

There has been a significant battle by India against black money. It is a happy coincidence that by amending these treaties, there has been a burial to the black money route that existed,” said Finance Minister Arun Jaitley on the revised DTAA. Mauritius and Singapore are the top two sources for direct foreign investment in India, about half of the total direct flow. Total FDI from Mauritius over the past decade and a half is USD 95.9 billion.

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Government Rules Out Tax Incentive Beyond Rs 2 Lakh for Second Home

Ruling out rollback of the proposal to restrict tax incentive for second home to Rs 2 lakh per annum, Revenue Secretary Hasmukh Adhia on Saturday said there is no point in subsidising purchase of second property by those who have surplus funds. Moreover, he added that the tax incentive for second home loan borrower is being “virtually misused.” foreign companies subsidiay

Citing limited resources, he said it is prudent to subsidise first-time buyer and not the second property owner who is not staying in that but earning income from the second unit. The Finance Bill 2017 has restricted set-off of loss towards second home against other heads of income up to Rs 2 lakh under Section 71 of the Income Tax Act. service tax consultant in delhi

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Most deposited Rs 2 Lakh or More, Some Used One PAN For 20 Accounts: GOVT

REVENUE Secretary Hasmukh Adhia Thursday said deposits of Rs 2 lakh or more formed a sizeable chunk of the demonetised currency that found their way into bank accounts immediately after the November 8 announcement on withdrawal of Rs 500 and Rs 1,000 notes wholly owned subsidiary company in India

Asked if deposits of less than Rs 2 lakh constituted the majority deposits in accounts, Adhia said: “Na na, woh zyaada nahi hai. Rs 2 lakh se upar wale mein hi main hua hai. (No, that’s not big. The bulk of deposits were those above Rs 2 lakh.) And people thought Rs 2.5 lakh tak safe hai, so most of them have done Rs 2.25 lakh (deposits) in 10-15 accounts. We have cases in which 20 accounts are connected to a single PAN.” Company formation in India

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