Partners of an LLP can learn how to file their income tax return under Section 139(1) of the Income Tax Act of 1961 with this guide. ITR 5 is the applicable form for filing an LLP income tax return.
A Limited Liability Partnership is a business that requires at least two partners and there is no upper limit for number of partners in the firm. It is an alternative corporate business form.
The Ministry of Corporate Affairs has introduced the ‘Limited Liability Partnership (Second Amendment) Rules, 2022.’ Understand the key changes in the LLP Amendments with this blog post: new web-based forms, Latitude & Longitude in address block and Digi Locker Database for Directors’ information.
MCA introduced SPICe+ Form and all the connected forms on February 23, 2020, replacing the current SPICe Form and all linked forms with a variety of services to be provided under a single application. This is applicable to all new Indian Subsidiary Company starting from February 23, 2020.
‘Company Annual Filings’ refers to the filing of audited annual financial accounts, directors’ reports and an annual return of the company with the Registrar of Companies. Every registered company, whether it is engaged in business or not, must submit these annual filings.
GST has made the tax return filing procedure simple by merging the information about the products and services of the sellers and customers under one head. The GST Council and the Finance Ministry developed the GSTN (Goods and Services Tax Network), a system where taxpayers are required to record all information on invoices, purchases, sales, dates, and locations. This provides a convenient platform for GST-registered taxpayers to connect and file the GST return form, claim ITC, and so on.
All registered Taxpayers are required to file GST returns. The tax return forms known as GST returns should be filed by companies to the Income Tax authorities of India. The GST return is filed monthly, quarterly and annually, depending upon which GST return you are filing. In this blog let us study the different GST return to be filed by taxpayers.
PEOs (Professional Employment Organizations) are often used by companies that want to outsource all of their human resources. While enjoying the perks of collective bargainings, such as compensation, payroll, and other costs associated with PEO human resources, they wish to reduce their risks and exposure.
Professional Employer Organizations (PEO) with experience in the local markets can assist the business to improve and grow. A person who wants to expand a freshly formed business in a foreign country needs some time to do market research, understand local consumer trends, and get to know the demands of the public.
Many businesses that want to outsource all of their human resources use PEOs. They want to minimize their risk and liability while reaping the benefits of collective bargaining such as compensation, payroll, and other costs related to the PEO Human Resources.
