Registration and Approvals Under Income Tax Law

Income tax is the tax charged on the income earned by a person which is imposed by the Government of India. The amount of tax that must be paid depends on the individual’s age and the income they make. The entities also required to pay tax and file their income tax returns are Partnership firms, Limited Liability Partnerships (LLPs), Association of Persons (AOPs), Hindu Undivided Families (HUFs), Companies, Body of Individuals (BOIs) etc. The Act that covers the levy, administration, collection and recovery of Income Tax is the Income Tax Act which was enacted on 1st April 1961... [read more]

GST Registration

Goods and Services Tax (GST) is an indirect tax (or consumption tax) used in India on the supply of goods and services.

Registration under the GST Law implies obtaining a unique number from the GST Authorities to collect tax on behalf of the government and to avail Input tax credit for the taxes on his inward supplies. Without registration, a person can neither collect tax from his customers nor claim any input tax credit of tax paid by him.

Need and Advantages of Registration

Registration will confer the following advantages to a taxpayer:... [read more]