Business Registration, taxation and compliance for enterpreneurs in India
-
Upload
ashish-bihani -
Category
Business
-
view
452 -
download
2
description
Transcript of Business Registration, taxation and compliance for enterpreneurs in India
![Page 1: Business Registration, taxation and compliance for enterpreneurs in India](https://reader036.fdocuments.in/reader036/viewer/2022062614/54626a92af7959fe1b8b6c78/html5/thumbnails/1.jpg)
Registration, Taxation and Compliance for Enterpreneurs
CA Ashish BihaniSenior Advisor
Corpsquare.In
![Page 2: Business Registration, taxation and compliance for enterpreneurs in India](https://reader036.fdocuments.in/reader036/viewer/2022062614/54626a92af7959fe1b8b6c78/html5/thumbnails/2.jpg)
India is Most Preferred Offshore Destination across the Globe
Ample opportunities
Corpsquare.In
Introduction – On Global Side
![Page 3: Business Registration, taxation and compliance for enterpreneurs in India](https://reader036.fdocuments.in/reader036/viewer/2022062614/54626a92af7959fe1b8b6c78/html5/thumbnails/3.jpg)
Do you want to be an Enterpreneur?
Corpsquare.In
![Page 4: Business Registration, taxation and compliance for enterpreneurs in India](https://reader036.fdocuments.in/reader036/viewer/2022062614/54626a92af7959fe1b8b6c78/html5/thumbnails/4.jpg)
Do you want to be an Enterpreneur?
Corpsquare.In
![Page 5: Business Registration, taxation and compliance for enterpreneurs in India](https://reader036.fdocuments.in/reader036/viewer/2022062614/54626a92af7959fe1b8b6c78/html5/thumbnails/5.jpg)
Legal Formalities Human Resource Nature of Business Capital Taxation Long Run
Business Essentials
Corpsquare.In
![Page 6: Business Registration, taxation and compliance for enterpreneurs in India](https://reader036.fdocuments.in/reader036/viewer/2022062614/54626a92af7959fe1b8b6c78/html5/thumbnails/6.jpg)
Corpsquare.In
Nature of Business Registrations
Sole Proprietor
ship
Partnership
Limited Liability
Partnership (LLP)
Company (Pvt Ltd & Public Ltd)
Business Registration in India
![Page 7: Business Registration, taxation and compliance for enterpreneurs in India](https://reader036.fdocuments.in/reader036/viewer/2022062614/54626a92af7959fe1b8b6c78/html5/thumbnails/7.jpg)
Corpsquare.In
Sole Proprietorship
•One Man Army•Concentration of Decision Making Powers & Responsibilities•No Legal Framework•Capital Contribution •Small Business
Registration of Business
![Page 8: Business Registration, taxation and compliance for enterpreneurs in India](https://reader036.fdocuments.in/reader036/viewer/2022062614/54626a92af7959fe1b8b6c78/html5/thumbnails/8.jpg)
Corpsquare.In
Registration of Business
Partnership Firm
•Partners & Mutual Understanding•Partnership Act 1932•Partnership Deed – Main Clauses•Unlimited Liability•Old Business Type
![Page 9: Business Registration, taxation and compliance for enterpreneurs in India](https://reader036.fdocuments.in/reader036/viewer/2022062614/54626a92af7959fe1b8b6c78/html5/thumbnails/9.jpg)
Corpsquare.In
Registration of Business
Limited Liability Partnership (LLP)
•Partnership in Corporate Form •LLP Act 2008•LLP Agreement – Ministry of Corporate Affairs•Limited Liability•Good form for Professionals
![Page 10: Business Registration, taxation and compliance for enterpreneurs in India](https://reader036.fdocuments.in/reader036/viewer/2022062614/54626a92af7959fe1b8b6c78/html5/thumbnails/10.jpg)
Corpsquare.In
Registration of Business
Company
•Shareholders & Directors•Companies Act 1956 & 2013•Memorandum (MoA), Articles ( AoA)•Limited Liability•Pvt, Public, Listed•Global recognition
![Page 11: Business Registration, taxation and compliance for enterpreneurs in India](https://reader036.fdocuments.in/reader036/viewer/2022062614/54626a92af7959fe1b8b6c78/html5/thumbnails/11.jpg)
Corpsquare.In
Business Taxation
![Page 12: Business Registration, taxation and compliance for enterpreneurs in India](https://reader036.fdocuments.in/reader036/viewer/2022062614/54626a92af7959fe1b8b6c78/html5/thumbnails/12.jpg)
Corpsquare.In
Taxation of Business -Income Tax Proprietorship
Taxability Criteria Business income along with any other income of proprietor is chargeable to tax
Rate of tax Slab rates applicable to Individual; further subject to age of proprietor
![Page 13: Business Registration, taxation and compliance for enterpreneurs in India](https://reader036.fdocuments.in/reader036/viewer/2022062614/54626a92af7959fe1b8b6c78/html5/thumbnails/13.jpg)
Corpsquare.In
Proprietorship
Taxation of Business -Income Tax
Slab Rate Applicable
0 to 200,000 0% (NIL)
200,000 to 500,000 10% ( Tax Credit 10%, Maximum Rs.2,000)
500,000 to 10,00,000 20%
10,00,000 & Above 30%
* 10% Surcharge is applicable for Income above 1 Cr* 3% Education Cess on applicable on tax
![Page 14: Business Registration, taxation and compliance for enterpreneurs in India](https://reader036.fdocuments.in/reader036/viewer/2022062614/54626a92af7959fe1b8b6c78/html5/thumbnails/14.jpg)
Partnership Firm & LLP (Governed by Section 40b of Income Tax Act)
Corpsquare.In
Taxation of Business -Income Tax
Remuneration to Partners
Taxable in hands of partners as per Slab rates
Profits of Firm 30%
* 10% Surcharge is applicable for Income above 1 Cr* 3% Education Cess on applicable on tax
![Page 15: Business Registration, taxation and compliance for enterpreneurs in India](https://reader036.fdocuments.in/reader036/viewer/2022062614/54626a92af7959fe1b8b6c78/html5/thumbnails/15.jpg)
Corpsquare.In
Companies
Taxation of Business -Income Tax
Remuneration to Directors
Taxable in hands of Directors as per Slab rates
Profits of Company 30%
Dividend Distribution 15% (Surcharge 5%)
* 5% & 10% Surcharge is applicable for Income above 1 Cr & 10 Cr respectively
* 3% Education Cess on applicable on tax
![Page 16: Business Registration, taxation and compliance for enterpreneurs in India](https://reader036.fdocuments.in/reader036/viewer/2022062614/54626a92af7959fe1b8b6c78/html5/thumbnails/16.jpg)
Corpsquare.In
Indirect Taxes
Taxation of Business
•Burden of Consumers•Essential Element in Product Pricing•Applicable as per nature of Business
VAT/CSTService
TaxExcise Duty
Customs Duty
![Page 17: Business Registration, taxation and compliance for enterpreneurs in India](https://reader036.fdocuments.in/reader036/viewer/2022062614/54626a92af7959fe1b8b6c78/html5/thumbnails/17.jpg)
Applicable on Trading Product wise Rates (Schedules) Set Off/ Input Tax Credit VAT & CST – An Analysis Registration MVAT Act & CST Act & Compliance
Corpsquare.In
Taxation of Business – VAT/CST
![Page 18: Business Registration, taxation and compliance for enterpreneurs in India](https://reader036.fdocuments.in/reader036/viewer/2022062614/54626a92af7959fe1b8b6c78/html5/thumbnails/18.jpg)
Corpsquare.In
Applicable on Services Negative Regime - Changes from July 2012 Service Tax Rate – 12.36% Set Off/ Input Tax Credit Abatement Reverse Charge Mechanism Registration Compliance
Taxation of Business – Service Tax
![Page 19: Business Registration, taxation and compliance for enterpreneurs in India](https://reader036.fdocuments.in/reader036/viewer/2022062614/54626a92af7959fe1b8b6c78/html5/thumbnails/19.jpg)
Corpsquare.In
Applicability Manufacturing Import & Export Basic Compliance Set Off/ Duty Drawbacks
Taxation of Business – Excise & Customs Duty
![Page 20: Business Registration, taxation and compliance for enterpreneurs in India](https://reader036.fdocuments.in/reader036/viewer/2022062614/54626a92af7959fe1b8b6c78/html5/thumbnails/20.jpg)
Corpsquare.In
Compliance Accounting
Auditing
RoC
![Page 21: Business Registration, taxation and compliance for enterpreneurs in India](https://reader036.fdocuments.in/reader036/viewer/2022062614/54626a92af7959fe1b8b6c78/html5/thumbnails/21.jpg)
Corpsquare.In
Importance of Accounting Accounting Data Analysis Book Keeping & types of records Legal View – Invoices/ Vouchers Evidence Internal Business Structure & Procedures
Accounting - Basics
![Page 22: Business Registration, taxation and compliance for enterpreneurs in India](https://reader036.fdocuments.in/reader036/viewer/2022062614/54626a92af7959fe1b8b6c78/html5/thumbnails/22.jpg)
Corpsquare.In
Auditing – Verification of Accounts Audit under various Statutes
◦ Companies Act◦ LLP Act ◦ Income Tax Act◦ MVAT Act
Internal / Management Audits Benefits & Usefulness to Business
Auditing
![Page 23: Business Registration, taxation and compliance for enterpreneurs in India](https://reader036.fdocuments.in/reader036/viewer/2022062614/54626a92af7959fe1b8b6c78/html5/thumbnails/23.jpg)
Statutory Audit Annual Return Filing Annual General Meeting Board of Director Meetings Compliance for any change in MoA & AoA
Corpsquare.In
Registrar of Companies (RoC)
![Page 24: Business Registration, taxation and compliance for enterpreneurs in India](https://reader036.fdocuments.in/reader036/viewer/2022062614/54626a92af7959fe1b8b6c78/html5/thumbnails/24.jpg)
Corpsquare.In
The e-Commerce Way
![Page 25: Business Registration, taxation and compliance for enterpreneurs in India](https://reader036.fdocuments.in/reader036/viewer/2022062614/54626a92af7959fe1b8b6c78/html5/thumbnails/25.jpg)
Corpsquare.In
Global Market Online presence across the World Savings in Set Up Costs & Overheads Transparency (Tracking) Ease of Payment (Payment Gateway) Business Promos and Offers Strong Back end processing is MUST
Why e-Commerce?
![Page 26: Business Registration, taxation and compliance for enterpreneurs in India](https://reader036.fdocuments.in/reader036/viewer/2022062614/54626a92af7959fe1b8b6c78/html5/thumbnails/26.jpg)
Corpsquare.In
Any questions please?
![Page 27: Business Registration, taxation and compliance for enterpreneurs in India](https://reader036.fdocuments.in/reader036/viewer/2022062614/54626a92af7959fe1b8b6c78/html5/thumbnails/27.jpg)
Corpsquare.In
![Page 28: Business Registration, taxation and compliance for enterpreneurs in India](https://reader036.fdocuments.in/reader036/viewer/2022062614/54626a92af7959fe1b8b6c78/html5/thumbnails/28.jpg)
Corpsquare.In
Contact Us
CA Ashish Bihani+91.98908 19029 | [email protected]
020 2444 0444 | www.corpsquare.in
302B, CTS 43, Nav Maharashtra House, Opp. Shaniwar Wada, Shaniwar Peth,
Pune – 411030