You need to tell us the services you require
Get an instant call back from us for the support
You need to mail us the documents which may be required for the services
We will submit the necessary documents and apply for the service
We will share necessary documents with you and update on the service
We are changing the way business registration and compliance is done.
Tax Gyaaan is a product of ASR Lightning-Fast LLP. It is an online platform designed to meet all your Business Registration,
Business Compliance and other compliance needs. Business registration and compliance is a based on complex web of rules and
regulation.
We make it easy for you, with professional’s assistance and experienced staff. We are web based services provider and have offices across India. As a business, we make it a priority to assist our customers and lead by example. Each member of ASR Lightning-Fast LLP Limited brings a level of expertise and experience invaluable to the longevity and growth of your business.
+919650273111 
mail@taxgyaan.in
We have two types of taxes in India – Direct Tax and Indirect tax.
Direct Tax:It is paid by the person earning the income and is directly collected from that person by the government.
It is based on earning capacity of the person.
Indirect Tax:It is paid by the person on behalf of other person, for example when we buy a mobile phone, tax is collected by the seller and paid to the government on behalf of consumer. Most indirect taxes have now come under Goods and Services Tax (GST).
Income Tax (Direct Tax):If you are earning income from any source and your income is above the basic exemption limit you are subject to income tax act and you may have to pay tax. Income may be from any source it shall be reflected in relevant field and proper tax is to be submitted. Even exempt income shall be reported properly and reflected in return of income.
This tax is collected by the central government and Tax slabs are determined by the government in Union budget.
Income Tax Return (ITR):It is a return of income earned by the person in the Year (from 01 Apr to 31 Mar next year).
Financial Year (FY) is the year of earning the income and Assessment Year (AY) is the year of assessing the return. AY is generally one
year more than the FY. For example income earned in Financial Year 2023-24 from 01 Mar 2023 to 31 Mar 2024 is assessed in AY 2024-25.
You need to choose proper form and calculate correct tax liability, make proper payment of tax (including advance tax), or get a refund,
if excess tax is already paid. We will help is the filing a proper and correct ITR.
There are up to 8 types of Income Tax Return Forms, currently. We have divided them into 2 parts:
| ITR Forms for Individuals | ITR Forms for Non-Individuals |
|---|---|
| ITR – 1 (Sahaj) – For individuals earning income from salaries, one house property, interest income, agriculture, other sources, etc. | ITR – 5 – Entities other than,- (i) individual, (ii) HUF, (iii) company, and (iv) person filing Form ITR-7 |
| ITR – 2 – For Individuals and HUFs having income other than from profits and gains of business or profession. It may be from capital gain, lottery or foreign assets, etc. | ITR – 6 – All companies except those that claim tax exemption as per Section 11. |
| ITR – 3 – For individuals and HUF with income from profits of a business or profession. | ITR – 7 – Person incl. companies required to furnish returns under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) only. |
| ITR – 4 (Sugam) – For Individuals, HUFs, and Firms (other than LLP) having presumptive business income tax returns. This is computed under sections 44AD, 44ADA, or 44AE. |
Benefits of Income Tax Return (ITR) are numerous but following are the immediate and most visible :
You may get penalty for not reporting or incorrect reporting your income. There may be interest on late payment of taxes and other legal consequences.
Incorrect Form:Your ITR will be defective and you may be facing penalities for not filing ITR.
Under-reporting:You may under report or fail to report the income. Penalty at 50% of tax payable on such under-reported income shall be payable. 200% of the tax will get if under-reporting results from misreporting of income.
Late Filing: Late filing fees can vary from Rs 1000 to Rs 5000.
Penalty for Default:Notice shall be replied in a specific period and with a proper justification.
Delay in filing the TDS/TCS statement:TDS /TCS collection and return filing is important and delay can cause considerable late fees and penalty.
Penalty in case of income from undisclosed sources:Income shall be declared correctly and there can be severe consequences of any undisclosed income.
Listed below are some of the most common tax filing mistakes you can avoid.
We are just a click away. Contact us.
Permanent Account Number or common known as PAN is a 10 Digit Alphanumeric Number issued by the Income Tax department for a person or an organization. This is a unique number and now it is compulsory to link your bank account with PAN or Aadhar and also it is mandatory to link PAN and Aaadhar.
If you fail to get a PAN it will be difficult open a bank account and also there will be higher TDS on your incomes.
We will help you get PAN or correction in your PAN faster.
Tax Deduction and Collection Account Number or TAN Number is a 10 Digit Alphanumeric Number provided by the income tax department for the collection of tax on behalf of other and pay to the government. If you are employing or paying collecting TDS or TCS you need to obtain TAN, pay collected TDS to the government and file proper return of tax payment.
We are just a click away. Contact us.
Tax Deducted at Source (TDS) is a concept by the Government where it is compulsory to deduct tax for certain payments like salary, payment to contractors etc. It is collect fair amount of
advance tax so that taxpayer pays correct tax and interest on late payment can be avoided. It is important to deduct correct TDS and file return in time.
A TDS Return is a quarterly statement that must be submitted to the Income tax department if you have deducted tax for the payments.
Tax Collected at Source (TCS) is collection of tax by the seller or a person for the goods or services sold. As the name suggests the tax is collected from the person liable to pay tax.
The difference between the TDS and TCS is simple in TDS the payment is made by deductor but in TCS payment is done by the deductee.
A TCS Return is a quarterly statement that must be submitted to the Income tax department if you have collected tax from the customers.
We are just a click away. Contact us.
Employer with 20 or more employees working for him has to file for registration under Employees Provident Fund and a unique number is allotted to each employee from EPF department.
Every month the employer has to deduct employee portion and ad his portion of EPF for the employee and pay to the EPF Department.
Registration is done for employee within a month, any delay will bring penalty.
Any organization once allotted has to file a return compulsory every month; it may be nil return also.
Employee State Insurance Corporation (ESIC) is social security and health insurance scheme run by the state government and monthly installment is paid by the employee, which gives medical benefit, maternity benefit,
disablement benefit, sickness benefit, and multiple other benefits such as the free supply of physical aids, funeral expenses, and so forth.
Units or Establishments that have at least 10 or more employees, with wages of up to Rs.15,000 a month needed to be enlisted for ESIC under the ESI Act 1948. The advantages
given by the scheme are supported by the commitments raised from covered employees and their employers at the fixed percentage of wages.
We are just a click away. Contact us.
Micro, Small, Medium Enterprise (MSME) or Small Scale Industries (SSI) are the back bone of any country and provide major employment opportunities and therefore the government gives various benefits to such organisations.
It is not mandatory to register for Udhyam registration but it provides numerous benefit to the registered organisations like easy loan, lesser interest rates, subsidies, support from the government.
We are just a click away. Contact us.
The Food Safety and Standards Authority of India (FSSAI) functions as a legal entity responsible for granting a food license to all food business operators (FBO) across India. It is imperative for FBOs to adhere to the established rules and regulations of FSSAI to ensure the quality control of food.
The type of FSSAI license or registration required by an FBO is contingent upon factors such as production scale, the nature of food business management, and the scope of operations. Upon completion of the FSSAI Registration process, the FBO is assigned a unique 14-digit number, which must be prominently displayed on food packaging.
FSSAI Registration serves as a crucial certification for food safety, issued by the Indian food authority, guaranteeing the security of food products. Eligibility for obtaining an FSSAI License extends to various entities including manufacturers, traders, restaurants, grocery shops, importers, exporters, etc. The issuance of an FSSAI License ensures that food products undergo rigorous quality checks, thereby minimizing instances of adulteration and substandard products.
We are just a click away. Contact us.
Enacted in 2016, India's Real Estate (Regulation and Development) Act, or RERA, is a crucial legislation emphasizing transparency and fairness in the real estate sector. It establishes regulatory bodies for projects in each state and union territory, with developers required to register projects, provide details, and deposit funds in an escrow account.
RERA protects homebuyers by obliging developers to address structural defects post-possession and penalizing delays, offering legal recourse for compensation or refunds. The Act promotes fair practices and transparency, requiring developers to provide project details on its website for informed decision-making.
In essence, RERA is pivotal for revitalizing and regulating India's real estate, fostering trust and transparency while promoting a healthier, more robust market with sustainable growth.
We are just a click away. Contact us.
Government e-Marketplace (GeM) registration is a pivotal step for businesses seeking to engage with government entities in India's procurement landscape. GeM, an online platform initiated by the government, serves as a centralized hub for procurement activities, offering a transparent and efficient marketplace. The registration process is designed to be straightforward, requiring businesses to provide essential details and documentation.
Upon successful registration, businesses gain access to a wide array of government tenders and procurement opportunities. GeM serves as a digital bridge between sellers and government buyers, providing a platform to showcase products and services directly. This not only simplifies the procurement process but also enhances the visibility of businesses in government circles.
GeM's digital marketplace fosters transparency, accountability, and efficiency in government procurement. It minimizes bureaucratic hurdles, reduces paperwork, and accelerates the procurement cycle. By participating in GeM, businesses align with the government's push towards a more digitized and streamlined procurement ecosystem.
In essence, GeM registration empowers businesses to actively participate in government contracts, contributing to a more accessible, collaborative, and technologically-driven procurement landscape. It plays a crucial role in modernizing the government procurement system, making it more inclusive and responsive to the evolving needs of businesses in India.
We are just a click away. Contact us.
Registration under the Shops and Establishments Act is a legal requirement for businesses operating in non-manufacturing sectors in India. This act is designed to regulate working conditions and ensure the welfare of employees in shops and commercial establishments. To register, businesses need to submit necessary documents such as proof of identity, address, and details about employees. The registration process varies by state, but generally involves filling out the application form and paying the prescribed fees. Obtaining a Shops Act registration provides legal recognition to the establishment, ensuring compliance with labor laws and facilitating a smooth work environment. It is essential for businesses to adhere to this regulatory framework to uphold employee rights, promote ethical business practices, and avoid legal complications. Shops Act registration contributes to a harmonious work atmosphere, safeguarding both employers and employees in the commercial sector.
We are just a click away. Contact us.
Startup India, a government initiative, offers startups simplified compliance processes, a 3-year exemption from certain regulations, and financial support for scaling ventures. Tax benefits, including a three-year income tax holiday, foster financial stability. Access to funding is facilitated through credit guarantee and fund of funds. The initiative also eases the financial burden on startups for patent filing, encouraging innovation. Overall, Startup India provides a comprehensive package of incentives, playing a crucial role in promoting the growth and success of startups in India.
Registering a new company, LLP, firm, society, trust, or NGO through Tax Gyaan offers numerous benefits. This platform simplifies the registration process, providing expert guidance on tax implications and ensuring compliance. Entrepreneurs can make informed decisions about the most suitable business structure, considering tax efficiency and legal requirements. Tax Gyaan's knowledge base covers diverse organizational structures, facilitating a smooth registration process. Additionally, the platform keeps users informed about evolving tax laws, reducing the risk of legal issues. By leveraging Tax Gyaan, businesses not only streamline registration but also gain essential insights to navigate the complexities of the tax landscape, ensuring long-term compliance and growth.
We will help you navigate through the web of compliances of different Acts and different sections of act. We will help you in any changes required by you in your business formation.
Ensuring compliance for a new company, LLP, firm, society, trust, or NGO is simplified and made more effective through Tax Gyaan. This platform specializes in providing comprehensive guidance on regulatory compliances across various organizational structures. By utilizing Tax Gyaan, businesses can stay updated on the ever-changing compliance landscape, reducing the risk of legal pitfalls.
Tax Gyaan's expertise extends to the intricacies of compliance requirements for different types of entities, offering tailored insights for adherence to tax regulations and other statutory obligations. This proactive approach not only ensures that the organization operates within the legal framework but also minimizes the chances of penalties and legal complications.
The platform acts as a reliable companion for businesses, offering a one-stop solution for compliance-related queries. By leveraging Tax Gyaan, organizations can navigate the complexities of regulatory obligations, fostering a culture of adherence and transparency. Ultimately, ensuring compliance through Tax Gyaan contributes to the long-term sustainability and success of the newly established entity.
GST registration is a crucial requirement for businesses in India, streamlining the taxation process. This mandatory registration ensures compliance with Goods and Services Tax regulations. By registering, businesses obtain a unique GST identification number, allowing them to collect and remit taxes. It enables seamless input tax credit, promoting transparency and reducing cascading effects. GST registration is essential for businesses with a turnover above the threshold limit. It not only aligns enterprises with legal requirements but also facilitates smooth operations within the unified taxation system. Overall, GST registration is a fundamental step for businesses, ensuring adherence to tax laws and fostering a more efficient and transparent taxation framework.
GST returns filing is a mandatory process for businesses in India, where they report their sales, purchases, and tax liabilities to tax authorities. The frequency of filing depends on the type and turnover of the business. Timely and accurate filing is crucial for compliance and avoiding penalties. It promotes transparency, simplifies tax administration, and aligns with the government's goal of a unified taxation system. Effective GST returns filing is essential for businesses to maintain financial integrity and comply with tax regulations, ensuring a seamless and transparent taxation process.
Responding to GST notices is crucial for businesses to address queries from tax authorities. Timely and accurate replies demonstrate compliance, prevent penalties, and maintain a positive relationship with tax authorities. A comprehensive response, addressing all aspects of the notice, ensures clarity and resolves any potential issues. Efficiently handling GST notices is essential for businesses to uphold their financial integrity and navigate the taxation system effectively.
Securing a Section 80G Licence through Tax Gyaan is a strategic step for organizations aiming to optimize tax benefits while supporting charitable causes. Tax Gyaan specializes in streamlining the application process, offering expert guidance on eligibility criteria, documentation, and the application procedure for Section 80G. This ensures businesses efficiently navigate complexities associated with obtaining this license. Additionally, Tax Gyaan serves as a valuable resource for ongoing compliance requirements linked to Section 80G, ensuring organizations maximize tax benefits while adhering to regulatory standards. In summary, obtaining a Section 80G Licence through Tax Gyaan not only supports charitable endeavors but also helps organizations make informed financial decisions, contributing to both social impact and fiscal responsibility.
Acquiring a Section 80G License under the Income Tax Act, 1961, through Tax Gyaan is a savvy choice for organizations aiming to blend philanthropy with tax efficiency. Tax Gyaan offers expertise on eligibility, documentation, and procedural nuances, streamlining the application process for entities and their donors to enjoy tax deductions. Serving as a valuable ongoing resource, Tax Gyaan ensures organizations stay informed about evolving compliance requirements linked to Section 80G, maximizing tax benefits while maintaining strict adherence to regulatory standards. In essence, securing a Section 80G License through Tax Gyaan is a strategic move for entities committed to charitable activities, providing a comprehensive solution for both compliance and tax optimization in a concise manner.
Trademark registration is a pivotal step for businesses, providing exclusive rights to brand names, logos, and symbols. This legal process safeguards against unauthorized use, imitation, or infringement, bolstering brand identity and market presence. With trademark registration, businesses gain a distinct competitive advantage by establishing a unique market position. It not only protects intellectual property but also enhances consumer trust and confidence. The registration process involves filing an application with the relevant authorities, ensuring legal recognition and enforceability. In essence, trademark registration is a strategic investment, fortifying a brand's identity and ensuring legal recourse against infringement, contributing to long-term business success.
ISO certification is a globally recognized standard that signifies a company's adherence to international quality and management standards. Achieving ISO certification enhances a company's credibility, demonstrates commitment to quality, and fosters customer trust. The process involves implementing and maintaining standardized procedures, ensuring consistency in products or services. ISO certification is often sought by businesses to improve operational efficiency, meet customer expectations, and gain a competitive edge in the market. It not only validates a company's commitment to quality but also opens doors to global business opportunities by meeting international benchmarks.
A Digital Signature Certificate (DSC) is a secure electronic key that authenticates the identity of the sender or signatory in digital communications. It ensures the integrity and origin of documents in the digital realm. Acquiring a DSC is essential for secure online transactions, document signing, and submission of electronic forms. This certificate, issued by licensed Certifying Authorities, enhances the authenticity and reliability of digital documents, providing legal validity equivalent to physical signatures. DSCs play a pivotal role in maintaining the confidentiality and security of digital communications, safeguarding against fraud and unauthorized access. As a crucial component of the digital era, a Digital Signature Certificate ensures the trustworthiness of online transactions and communications.
We are just a click away. Contact us.
