Author - envizi

MCA Announced a new eform- INC 22 A (ACTIVE)

MCA has come up with a new update which orders every company to file a new form INC-22 A –ACTIVE. Here is all about new form ACTIVE (Active Company Tagging Identities and Verification)

 

Applicability

All company registered on or before 31st December 2017 has to mandatorily file new eform INC-22 A with the basics information’s about the company. All those who have filed the form will be noticeable as “ACTIVE Compliant”.

Due Date

The form necessity be filed on or before 25th April 2019. The fee for filing form is Nil if filed within the due date. If the form is not filed within the due date, the Company will be noticeable as “ACTIVE- non-compliant”. Further, MCA will charge late filing fees.

 

Necessities to file form

To file such form the company must have fulfilled the following requirements or else the company will not be able to upload form INC-22 A. (Note: Both the compliances has to be filled till date)

Exceptions

Following companies are not required to file form.

Penalties

If the form is not filed by the company then other than late filing fees and change of the company’s status, the company will not be able to carry on the following activity.

 

Extremity line

Be compliant with all the filing with MCA to avoid penalties. Hence, file the form INC-22 A within the due date with MCA to keep the status of the company as an “Active Compliant”. This amendment will be applicable from 25th February 2019.Get filed the form INC-22 A through Envizi.

Visit @ https://www.envizigroup.in/

 

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MSME Registration in Pune
MSME/SSI Registration in Pune

MCA NEWS – MSME

The Ministry of Corporate Affairs vide notification dated-22nd January 2019 has mandated all companies to file a half yearly return – “MSME Form I”(E-form yet to be released).

 

This return requires all companies:

 

(i) who have received supplies of goods and/or services from Micro or Small enterprises as defined under MSME Act, and

(ii) where payments to such Micro or Small enterprises are outstanding for more than 45 days from the date of acceptance or the date of deemed acceptance of the goods and/or services,

 

To submit to the Registrar of Companies a half yearly return stating the following:

 

(i) Name of the supplier;

(ii) PAN of the supplier;

(iii) The amount due (as on 22nd Jan 2019);

(iv) Date from which the amount is due

(v) the reasons of the delay;

 

First return under this notification is to be filed within 30 days from the date of the notification i.e. on or before 20th February 2019.

After the first return, a 6 monthly MSME Form I return has to be filed every year-

For the period April to September – on or before 31st October

For the period October to March – on or before 30th April.

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Company registration in Pune

E M I or TRAP ???

Equated Monthly Instalment (EMIs). Actually there is no rule of how much is a perfect EMI, but, there should be some criteria for it, otherwise the income is less and the EMI outgoing increases.  And once you start, then you get stuck in that trap and it becomes very difficult to exit.

An EMI Trap i experienced last month.   Let’s see how much a family had EMI styled in that trap …

Last month, I was called by one of my investors who were in Pune, and his friend had to make a financial plan. I went to them as I decided. A few chats happened, I was impressed by seeing their lifestyle, flat, house furniture and other things, a beautiful house. Then, i said let’s begin the work of financial planning now. I started to get personal information such as age, job, family, who are in the family, how much package (salary) There was no problem till this, but when I started to wonder about the cost and EMI for creating a cash flow statement, it was a big shock. You see it as well …

Salary: Husband – 85000, Wife 65000 (Together 150000 (Not bad, good salary)

EMI: Home Loan – 80000 (1. 25 CR flat)

Car EMI – 25000 (18 lacs)

Personal Loan EMI-12000 (Personal Loan for Annual Family Trip)

Credit Card EMI – 5000 (Purchase for Trip)

Weekly spend – 5000 (every Saturday / Sunday holiday)

Insurance – 5000 Monthly Premium (ULIP Policy 500000 Life Cover)

Mediclaim – no (company has given)

Now let’s total of the cost,

80000 +25000 +12000 +5000 +20000 (expenditure of 5000) +5000 = 147000, (This month’s grocery + TAX + other costs are not included yet). This is called Perfect EMI Trap,

When I asked what if all money is over? They have authentic answer credit cards.  He further said that now they are afraid of the EMIs which have been miscalculated and therefore you are called.

Once you get used to credit cards and EMIs, you cannot create wealth for yourself, because you keep working for credit cards and EMIs only.  For the above family, I prepared a further financial planning.

This experience has been shared just to benefit someone:

1) A person whose house is very beautiful and does not mean that the person is very rich (probably because of EMIs and due to the EMI tension and at the cost of night sleep and peace), no not worth.

2) It is more important to save, then splurge on luxury cars lying idle 5 days in week.

3) Never take a trip with a personal loan.

4) Credit card is the amount of money spent today by the credit card today (credit card interest is highest in the world 25% to 44%)

5) Saturday / Sunday is a holiday that does not mean that the you spent every time. Keep it simple sometimes.

6) It is important that the insurance policy covers how much insurance you pay for insurance policies,

If there is no proper arrangement of salary and expenditure, then there is a time for debt market.

So Calculate before Plunging into the ocean of EMIs.   Peace is better than Pleasure.

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Company registration in Pune

Income tax slabs 2019-20: Income tax limit raised to Rs 5 lakh

Individuals with gross income up to Rs 6.5 lakh will not need to pay any tax if they make investments in provident funds and prescribed equities that are tax-saving schemes, while it may move up further with additional avenues like NPS, medical insurance and home loan interest payment, the finance minister said.

Around three crore middle class taxpayers will get tax exemption due to this measure, Goyal stated while presenting the Budget proposals.

 

Proposed Income tax changes in Budget 2019:

 

  • Tax on Notional rent on second house property removed
  • Basic tax exemption increased to 5 lakhs
  • Salary standard deduction increased to 50k from 40k
  • TDS threshold for rent 240000 from 180000
  • Post office, bank, postal interest TDS exemption increased to 40k from 10k
  • Capital gains up to 2 crores can be invested in 2 house property to take exemption. This can be done once in a lifetime.
  • 80 IB housing scheme exemption extended by one more year up to 2020
  • Unsold inventory of real estate – tax on notional rent will be payable after 2 years as against 1 year

 

Finance Budget – 2019:

 

–  Tax Slab on Individual Taxpayer has extended to 5 Lakhs. No Tax up to Rs. 5 Lakhs

–  Standard Deduction to Salaried Employees has extended from 40,000 to 50,000.

–  No Notional Rent up to two self-occupied house property.

–  Threshold Limit on TDS on Bank and Post Office Interest has extended from 10,000 to 40,000.

–  Threshold Limit on TDS on Rent has extended from 1,80, 000 to 2,40,000.

–  Now Two Residential Property can purchase against capital gain on sale of property up to 2 Crore.

–  Benefit of 80 IBA has extended up to 31st March 2020.

–  Real Estate Sector has now need not to pay tax on Notional Rent on unsold property up to 2 years.

(Limit of 1 Year has extended to 2 years).

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Trademark Registration in Pune

5 Reasons Why You Should Register your Trademark!!!

Any, name, logo, slogan, mark that remotely resembles a business or a product belonging to a certain organization or individual can be defined as its Brand or Service Mark or Trademark. Breaking the term down to its unsophisticated beginning, it means any kind of mark which gives the viewer an individual gratitude of its owner. The importance of a unique and catchy trademark is a high priority for any business to save its goodwill and hard work from being copied by copycats. Here are 5 reasons highlighting the prominence of a trademark to a business.

  1. Sets it apart from multiple products of equal kind: – A trademark distinguishes it from competitor brand. With a logo, anybody can tell which brand or product it belongs to. E.g. When you see a silver colour half bitten apple on a laptop or a phone, you recognize that it is an Apple merchandise.
  2. It provides uniqueness to a brand: – Wouldn’t you want to have a name or logo that speaks itself out, Name or Logo should be such that it is easy to remember and is attractive and one of a kind. So your name or logo provides your product or service a uniqueness in the market. By seeing a logo people know which company brand the product belongs too.
  3. Defends your product’s label: – If you take a registered trademark, you can use it to openly show your authority above your product or service. A registered trademark will provide you a right to use it on all the goods or services registered under your business and henceforth prove that the product belongs to you and you take all the rights to sell, change or use that product howl you want. Trademark registration safeguards your hard work from infringement by your competitors and protect your label.
  4. Trademark Forever: – Your registered trademark will stay with you forever and you can enjoy the goodwill for generations to come. e.g. Plant a sapling today and reap its fruits lifelong.
  5. Protects your Brand’s Image: -You must register your trademark so as to stop someone else from using it. But then again, what if there’s another company using the same name as yours?  Is there somewhat way to stop it? Yes, you can take action legally and refrain him from using it anymore and safeguard your further losses due to duplication. Helps general public of buying duplicated products.

The power of a registered trademark can be judged by reading the “Microsoft vs. MikeRoweSoft” case. It is a hysterical case- but, it demonstrates what a trademark can do. The meaning of that complete case would be that the software massive Microsoft sued the 12th-grade Canadian student for he made a website mikerowesoft.com.  According to Microsoft, Mike’s website was phonetically similar to their brand. In the end the conclusion, was a mutual agreement between both the parties and the case settled down. But, more importantly Microsoft was able to get the control of their website with a slight compensation and stopped Mike’s website and got their brand’s uniqueness back.

Same way Burger King wanted to enter the Indian market, but Burger King was already registered trademark in India. So Burger King had to pay a hefty price to the original owner in whose name it was registered in India and took control of the brand in India. The Original owner turned into a millionaire overnight.  Imagine what a trademark can do.

ENVIZI offers you the expertise of trademark registration services that you will need for establishing and running your business like a professional. We help our clients with high-quality services and have pleasure in building the long-lasting customer relationship with our clients. We always focus on satisfying our client’s demands and understanding their needs before providing them the right solutions.

ENVIZI BUSINESS SOLUTIONS LLP, will guide you through each stage of the trade mark registration process, so you can protect and optimize the value of your brand. We even offer other services like Company registration, OPC registration, Copyright registration, Company compliances etc. We’re always happy to help you, so please visit us at http://www.envizigroup.com/ or Contact us at: 9011860897/9764625653.

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reporting of Foreign investment

Reporting Of Foreign Investment

Foreign Investment

Any company in India getting financial deposits in form of convertible shares, debentures or equity from a foreign country should inform with a copy of FIRC ( Foreign Inward Remittance Certificate ) to the Reserve Bank of India within 30 days

The form FC GPR has to be filed and it should be attached with a certificate of Compliance from a company secretary and also a certificate from the SEBI authorized chartered account informing about the current prices of shares.

Annual return on the foreign assets and liabilities has to be filed with RBI every year. Transfer of shares also has to be done within 60 days from the receipt of the amount.

For more information contact ENVIZI BUSINESS SOLUTIONS LLP at sales @envizigroup.com or 9011860897 and visit www.envizigroup.com. Best professional services and economical pricing all across India.

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GST Registration in Pune

GST Registration Requirement

In June 2016, the Finance Ministry, Government of India had made public the much-awaited Model GST law that happens to define a ‘taxable person’ and then further goes on to describe how GST and GST Registration will be put into force across India.

Who needs to register for GST then?

  • If you are a person or a group of persons carrying out business in any nook and corner of the Indian State and boast of a goods and services business with an aggregate turnover of over 9 lakhs in a financial year, then you need to register for GST. The limit has been kept such that the small suppliers are provided the much-needed relief.
  • If you are in the North Eastern States including Sikkim, you need to obtain a GST registration if the worth of taxable supply of your goods and services amounts to over Rs. 4 lakhs.

Here, ‘aggregate turnover’ means the sum total of all non-taxable and taxable supplies, exempt supplies and exports of goods and/or services of a person possessing a PAN, and is calculated on all India basis. It excludes taxes under the CGST Act, SGST Act, and the IGST act and does not explicitly include the worth of supplies on which tax is imposed on a reverse charge basis.

Who needs to register irrespective of anything?

In addition to the above classes, there are classes and categories who need to register regardless. For them, no turnover clauses apply. They are listed below.

  • Persons involved in inter-State supply which is taxable. There’s no threshold here.
  • Persons who are needed to disburse tax under reverse charge, irrespective of the threshold
  • Casual taxable persons. It refers to a person who intermittently undertakes transactions that involve supply of goods and/or services to further their business, done by himself/herself or through an agent, in a taxable area where he doesn’t have a fixed place to carry out his/her business.
  • Persons who are required to deduct tax
  • Taxable persons who don’t reside in India, irrespective of the threshold
  • Persons, who as agents or otherwise, supply goods and/or services on behalf of other taxable persons who are registered under the law of the land
  • Persons who supply goods and/or services, other than branded services, through electronic commerce operator, irrespective of the threshold
  • Input service distributor, i.e. an office of the supplier of goods and/or services which receives tax invoices u/s 23 towards receipt of input services and then issues tax invoices for the purposes of issuing the credit of CGST (SGST in State Acts) and/or IGST paid.
  • Aggregator who has his own brand name or his own trade name to prove services, irrespective of the threshold
    • Each and every e-commerce operator, regardless of the threshold
  • Other person or group of persons as may be notified from time to time by the Central Government or a State Government upon the recommendations of the Council.

If that makes for a complicated read, here’s a table to simplify it for you:

Nature of the supply Registration Required?
Taxable inter-state supply Yes
Exempted inter-state supply No
Intra-state supply (up to Rs. 9 lacs) No
Intra-state supply (exceeding Rs. 9 lacs) Yes
Intra-state supply (up to Rs. 9 lacs) exempted Inter-state supply of any value No
Casual Taxable person Yes
Reverse charge – for personal use up to prescribed limit No
Reverse charge – for personal use beyond prescribed limit Yes
Reverse charge – Other than personal use Yes
Non-resident persons Yes
Persons required to deduct TDS providing intrastate supply up to Rs. 9 lacs Yes
Input service distributor Yes
Agent or the like Yes
Intra-state supply up to Rs. 9 lacs as an agent Yes
Electronic commerce operator Yes
Supply through electronic commerce operator – Branded or otherwise Yes
Aggregator – supplying services Yes
Intra-state supply – Exempted Rs. 5 lacs Yes
Intra-state supply – Taxable Rs. 5 lacs If the aggregate turnover exceeds Rs. 10 lacs

 

So, the government clearly underlines who needs to register and who don’t. Hope this article has summed it up for you but to delve further, here are a few points to note:

  • If you are an agriculturist, you are exempted from GST registration.
  • You must apply and register for GST within 30 days of becoming liable to do so. Different procedures exist depending on whether you are a new customer or whether you are already registered under one of the States. In case of the latter, remember that you still need to register although there is a process that will simplify the hard yards.
  • PAN card is a must to register. No PAN card, no eligibility.
  • Special provisions exist if you are a casual taxable person or a non-resident taxable person
  • Registration certificate that is issued will be valid for 90 days from the date of registration and could even be extended further depending on the need but they are needed to deposit tax in advance on the basis of estimated tax liability.

If you want more details about GST registration visit www.envizigroup.com

 

 

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Partnership Firm Registration in Pune

Comparison between Partnership Firm and (LLP ) Limited Liability Partnership

Partnership Firm Limited Liability Partnership (LLP)
Partnership Firms are registered under the Partnership Act 1992 LLP is registered under the Limited Liability Act 2008 Ministry of Corporate Affairs. (ROC)
Partnership Firms do not have Separate Legal Entity Status LLP  has Separate Legal Entity status
No Limited Liability feature Limited Liability feature available
Foreign Direct investment not allowed Foreign Direct Investment Allowed with approvals from RBI
No Perpetual Existence Perpetual Existence
Not Transferable Transferable by transferring shares
Annual  compliance  filing not required Annual ROC compliance required to be done.
No Corporate Identity Corporate Identity
Partnership Firm name can be used by any other entity in same business LLP name reserved by MCA, not given to any other entity in the same business again.
The name does not end with the format of registration. Name ends with LLP.   Example: XYZ  IT Solutions LLP, Raheja Developers LLP.
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LLP Registration Consultants in Pune

LLPs on Hold In India.

LLPs on Hold In India.

Limited Liability Partnership ( LLP) is the most preferred and popular form of business registration in India. But with the MCA blocking the DIN forms for new LLPs since approx last 4 months aspiring new entrepreneurs in India wishing to form LLPs for their new startup are not able to do so. LLPs can be formed only with Partners already holding DIN nos, means may have been Directors in previous companies.
Surprisingly no one in the Ministry is able to provide clear and crisp information about the reason for the discontinuation neither any confirmation available on whether LLPs will exist in India as the simplest form of business registration. It’s being difficult for the consultants and Company Secretaries helping new startups to form their startups to update their clients about the LLP formation status. The MCA website to does not have any clear updates about the future of LLPs in India.
Now, in this case, New startups have 2 options before them :
Partnership Firm
Private Limited Company
Partnership Firm which provides the same format of business registration as LLPs, minus the MCA link. Partnership Firms do not have the Limited Liability Feature and are low on compliance.
OR
Private Limited company registration which is the eldest, accepted, popular, the professional format of business registration, including the Limited Liability feature. A bit high on annual compliance.
So make a wise choice or call ENVIZI BUSINESS SOLUTIONS LLP to help you choose the best for you after analyzing your business objects by our experts.

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Start Up Launch Business Ideas Plan Creativity Concept

STARTING A BUSINESS: HOW TO BECOME AN ENTREPRENEUR?

Being an entrepreneur is no easy task, yet there is a common perception that starting a business is very rewarding.
The most difficult part is overcoming the comfort of a job and taking the first step towards entrepreneurship. Many people have business ideas that remain only on paper. Still, others dream of becoming businessmen but have no idea how and where to start.

Here are some fundamental steps you need to take for starting a business:

1. Ask yourself what are you good at? Don’t think about what you would like to do but what are you good at now? Do people like selling skills? Are you a really great stock adviser? Do you have an out of the box ecommerce idea? Start thinking on what talents you possess. Your talents can turn into marketable skills that customers will pay for.

2. Do you have funds for your business? Some ideas start selling instantaneously while others will require you to approach professional investors. Don’t be stifled by having a small amount of funds or not having any investment at all. You can save money by managing funds well. Try to keep your funds focussed on your core function. Explore outsourcing non-core work like graphic design or social media so you don’t have to invest time & money in recruiting and training.

3. For those of you who have always dreamt of becoming an entrepreneur but don’t know whether you are good at anything; you can still achieve your ambition. Everyone has or can evolves an expert skill set, you just haven’t identified yours yet. Think about things that you like doing or have done in the past. Consider starting a home based business that offers these products or services. Network marketing is also an option. With a small investment, usually less than Rs. 25000, you can have a ready-made business and become profitable in days. Direct sales can be the best way to start a business until you discover more talents and new avenues open up.

Becoming an entrepreneur is not a journey for the faint hearted. It all starts with an idea, just like anything else. Figure out what you are good at and focus on converting it into a business. Starting a business requires some kind of investment, be it time or money. If you want to start from home, explore content writing or freelance social media marketing.

Once you start earning good money as a freelancer, complete the formal requirements of starting a business by legally registering a company.

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