Samridhi Tax Consultancy

12A 80G Registration  When it comes to charitable organizations, 12a and 80g registrations are two of the most important things to consider. In India, these registrations are required for non-profit organizations that want to receive tax benefits from the government. A 12a registration is a registration that is granted by the Income Tax Department of India to non-profit organizations. This allows them to claim exemptions on their income and also enables them to receive donations from Indian citizens. It is crucial for all charitable organizations in India to obtain this registration, as it provides them with significant financial benefits. An 80g registration, on the other hand, allows donors who contribute funds or materials to charitable organizations eligible for tax deductions. This means that individuals who donate money or goods can claim deductions on their taxable income under Section 80G of the Income Tax Act. In summary, obtaining both a 12a and an 80g registration is ess...

 Business loan Business loans may be either secured or unsecured. With a secured loan, the borrower pledges an asset (such as plant, equipment, stock or vehicles) against the debt. If the debt is not repaid, the lender may claim the secured asset. Unsecured loans do not have collateral, though the lender will have a general claim on the borrower’s assets if repayment is not made. Should the borrower become bankrupt, unsecured creditors will usually realize a smaller proportion of their claims than secured creditors. As a consequence, secured loans will generally attract a lower rate of interest. Lenders that make business loans often use a UCC filing to alert other creditors of their security interest in the property of the business. UCC filings may be placed against specific assets, or a blanket UCC filing secures interest in all property. UCC filings may affect the business credit score and may make it more difficult to obtain subsequent financing. UCC filings have become le...

  Limited liability partnership A  limited liability partnership  ( LLP ) is a partnership in which some or all partners (depending on the jurisdiction) have limited liabilities. It therefore can exhibit elements of  partnerships  and  corporations . In an LLP, each partner is not responsible or liable for another partner's misconduct or negligence. This distinguishes an LLP from a traditional partnership under the  UK   Partnership Act 1890 , in which each partner has  joint (but not several) liability . In an LLP, some or all partners have a form of  limited liability  similar to that of the shareholders of a corporation. Unlike corporate shareholders, the partners have the power to manage the business directly.  In contrast, corporate shareholders must elect a board of directors under the laws of various state charters.  The board organizes itself (also under the laws of the various state charters) and hires corporate o...

 GST Registration Services Goods and Services Tax (GST) in India has brought a significant change in the taxation system by unifying multiple indirect taxes into a single tax. Small businesses and startups, which contribute massively to the Indian economy, are also required to comply with GST regulations. However, the registration process can be daunting and complex which can be simplified with the help of GST Registration Services. GST Registration Services helps small businesses and startups navigate the registration process with ease. The service providers offer end-to-end support and guidance to ensure complete compliance with GST regulations. Here are some of the benefits of availing GST Registration Services: 1. Expert Assistance: GST registration involves several regulatory requirements, including legal paperwork, forms, and documentation. The service providers have a team of experienced professionals who assist businesses in fulfilling these formalities. 2. Saving Time: GST...

 NGO Registration Non-governmental organizations (NGOs) play a crucial role in addressing social issues and improving people’s lives. These organizations are formed with the objective of achieving a specific goal and are often established for the betterment of society. NGOs operate in diverse fields such as education, healthcare, environment protection, women empowerment, child welfare, animal welfare, and many others. To operate effectively, NGOs must be registered with the government or relevant authorities. In this article, we will explore the benefits of NGO registration. 1. Legal recognition Registering an NGO provides legal recognition to the organization. Once registered, the NGO is accorded various legal rights and privileges that are not available to unregistered NGOs. Legal recognition conveys that the government or relevant authority recognizes the organization’s existence, objectives, and activities, thus giving it legitimacy in the eyes of the public. Legal recognition...

 Company Registration Company registration is a process of incorporating a business under government laws. It is mandatory for any businesses to register themselves to provide individual identity and legal status to the company. The process of company registration involves several steps such as registering the name of the company, registering the directors, and filing documents with the Registrar of Companies. At the time of company registration, businesses can choose to register as a sole proprietorship, a partnership, a limited liability partnership, an LLC, or a corporation. Each type of registration comes with its benefits and disadvantages, and businesses should consider their goals and objectives before selecting an appropriate registration type. The primary advantage of company registration is to provide the business with legal recognition and a distinct identity that separates it from its owners. It also provides access to various benefits such as tax deductions, limited li...

Import Export Code In today's globalized economy, import-export businesses have become increasingly popular. It's not surprising that many entrepreneurs see this as an opportunity to expand their business horizons. However, before you can start an import-export business, you need to obtain an Import-Export Code (IEC) registration. In this article, we'll talk about IEC registration and the benefits of having one. Import-Export Code (IEC) is a 10-digit identification number that is issued by the Directorate General of Foreign Trade (DGFT) to an importer or exporter. The IEC code is essential to carry out an import-export business in India. Benefits of Having an Import-Export Code (IEC) Registration  1. Legal Requirement - First and foremost, it is a legal requirement to have an IEC registration if you want to start an import-export business in India. Without an IEC code, you cannot import or export goods to and from India. 2. Ease of Doing Business - With an IEC registration,...

  Gst Registration   Gst registration is a crucial process that depends on the type of your business and the goods or services you offer. The general GST registration involves submitting an online application to obtain a unique GST identification number or GSTIN. Under the present GST regime, this unique tax identification number replaces the service tax registration constitution.   Gst registration is mandatory for businesses selling goods and services in India. The GST tax rates vary depending on the nature and type of goods and services. If you are selling your business or supplies goods to consumers, registering for GST is essential. Under the present GST regime, this unique tax identification number replaces the service tax registration constitution. To register individual or company for GST, PAN is mandatory.   To obtain GST registration, business owners need to visit the online GST portal and fill out the necessary forms using their username and password. If t...

  RWA Registration Resident welfare association (RWA) is classified as Association of Persons (AOP) under Income Tax Law. A Resident Welfare Association (RWA) is an entity that stands for the interest of individuals living in a community or a society. The association is in charge of overseeing everyday issues of the occupants, sorting out events, overseeing amenities in the apartments and buildings and also representing members when and where needed on matters related to the place. For the most part, the association is a group of members chosen by the society members. When chosen, the  RWA Registration  needs to register under the Societies Registration Act, 1860 and is administered by constitutional documents such as Memorandum of Association that illustrates their rights and objectives. At least seven individuals could subscribe in their name for MOA for registration under Registrar of Societies to shape themselves into a Society under Societies Registration Act, 1...

  The   Societies Registration Act, 1860   is a legislation in British India which allows the registration of entities generally involved in the benefit of society – education, health, employment etc. The British Indian Empire, with a wish to encourage such activities and to promote the formal organisation of groups of like minded people, incorporated the Act 21 of 1860, in other words, the Societies Registration Act, 1860 (21 of 1860), which came into force on 21 May 1860. In post-independence India, the Act continues until today and being an Act of Parliament, comes under the Right to Information Act, wherein the government is legally responsible to give any information requested by any citizen of India with respect to any society. In Bangladesh, Burma and Pakistan, all previously part of the British Raj, the Act also continues. In Brunei, Hong Kong, Malaysia and Singapore, similar legislations for the registration of societies ar...

Gst Registration   Gst registration is a crucial process that depends on the type of your business and the goods or services you offer. The general GST registration involves submitting an online application to obtain a unique GST identification number or GSTIN. Under the present GST regime, this unique tax identification number replaces the service tax registration constitution.   Gst registration is mandatory for businesses selling goods and services in India. The GST tax rates vary depending on the nature and type of goods and services. If you are selling your business or supplies goods to consumers, registering for GST is essential. Under the present GST regime, this unique tax identification number replaces the service tax registration constitution. To register individual or company for GST, PAN is mandatory.   To obtain GST registration, business owners need to visit the online GST portal and fill out the necessary forms using their username and password. If they don...