How to Choose Best Online Bookkeeping and Accounting Services India

NeuSource Startup Minds

Small-sized business is no exception when it comes to higher workload and managing complexities in accounts. With the use of accounting software, you can ease your work of handling and manage your business by using some of the most effective accounting software.

There are many companies that provide the best Online Accounting Services in India. If you are looking for some simplest and easiest accounting software then it is highly recommended that you use programs that are essentially required. We possess all the programs and outsource too, if in need. Some such programs or software are totally free online accounting software for any small business as well as freelancers. Under this, it is easy to create and customize professionally looking invoices, track expenses of the business, recurring invoices to the regular clients automatically and many more other basic essential features.

It is designed to be intuitive and quite easier to use, no need to hire an accountant to understand it. It is worldwide used software available in India, besides other countries. It also offers multi-currency features at zero cost.

The best accounting software for small businesses should be:

  • Cloud-based: for better security and the ability to work anywhere remotely or on offline mode
  • Collaborative: so that multiple decision-makers can come together and be on the same page
  • Cost-effective: shall save some costs indulged in it
  • Compliant-friendly: should have the functionality to keep the business GST compliant

Keeping the above-mentioned factors in our mind, we have to comply with the aforesaid provisions too. We are best business consultant in India and also provide Online Bookkeeping & Accounting Services India.

There is much other best accounting software needed for small businesses. The software usually required is cloud-based software. That makes it easily accessible from anywhere. It is specially designed for small and medium-sized businesses. It is best for our business because of its certain features:

  • GST enabled invoicing and billing
  • POS mode billing
  • Barcode scanning
  • Income and expense management
  • All business reports
  • Bank integration
  • Reconciliation
  • Purchase order and warehouse management
  • Simple inventory management
  • Multi-user facility
  • Invoice tracking
  • Expense tracking
  • Financial management and many more.

Balanced budget requirements seem more likely to produce accounting balanced budgets. Tech Integra provides Accounting and Finance module with GST incorporation. All transactions of the financial module are GST incorporated to ensure the smooth finance operations of the organization.

TI ERP GST Integrated Finance module is the core module of our ERP software solution. All transactions of the financial module are GST incorporated to ensure the smooth finance operations of the organization. It is interlinked with all the modules of TI ERP to gather financial data and generate valuable financial reports for strategic decision-making. There are some significant features of the TI ERP Finance Module mentioned hereunder:

  • GST Integration (regular updates)
  • A configuration of the chart of accounts
  • Unlimited number of account groups
  • Multiple voucher types with auto or manual numbering
  • Predefined narration entry
  • Drill down facility
  • Exporting data from external sources like excel sheets, etc.
  • Simple and easy to use TDS module
  • Bank pay in slip generation
  • Bill settlement for payment and receipt against bills and their interest calculation
  • Bank and ledger reconciliation
  • Multiple vouchers, accounts, and reports printing

What is ITR e-Filing and How it is Important for Each One of Us?

NeuSource Startup Minds

Income Tax Filing Online is a must for all. E-filing is a system for submitting tax documents to India through the use of the internet or direct connection, usually without the need to submit any paper documents. Tax preparation software with e-filing capabilities includes stand-alone programs or websites. Simply stating, e-filing or electronic filing is submitting your income tax returns online. There are two ways to file your income tax returns. The traditional way is the offline way, where you go to the Income Tax Department’s office to physically file your returns.

To upload ITR, i.e., Income Tax Returns, there are certain steps to be followed.

  • Download the ITR preparation software for the relevant assessment year to your desktop/laptop from the “Download’s” page.
  • Prepare the Return using the downloaded Software.
  • Gather all the information regarding your income, tax payments, deductions, etc.
  • Pre-populate the personal details and tax payments or TDS by clicking on the “Pre-fill” button.
  • Compare with the information you have to ensure that nothing is left out.
  • Enter all the relevant data and click on “Calculate” to compute the tax and interest liability and final figure of Refund or Tax payable.
  • If Tax is payable, do not forget to pay immediately and enter the details in the appropriate schedule.
  • Repeat the above steps so that tax payable becomes zero.
  • Generate and save the Income Tax Return data in XML format in the desired path or place on your laptop/ desktop.
  • Login to e-filing website with- User ID, Password, Date of Birth or Date of Incorporation and enter the Captcha code.
  • Go to e-file and click on “Upload Return”.
  • Select the appropriate Tax Return, Assessment Year and XML file previously saved in the steps mentioned above, using the Browse button.
  • Upload Digital Signature Certificate (DSC), if applicable.
  • Please ensure that the DSC is registered with e-Filing.
  • Click on the “Submit” button.
  • On successful admission, return Form -V would be displayed if the signature certificate is not used.
  • Click on the link and download the return form-V.
  • Income Tax Return-V will also be sent to the registered e-mail.
  • If it is uploaded with a certificate, the Return Filing process is complete.
  • And when the return is not uploaded with it, the ITR-V Form should be printed, signed and submitted to CPC within 120 days from the date of e-Filing.
  • The return will be processed only upon the receipt of the signed tax return Form-V.
  • Please check your e-mails or SMS for reminders on non-receipt of Income Tax Form-V.
  • The upload of the Tax Return process is complete now.

Only forms 1 and 4S can be filed online. Please ensure that the DSC is registered with e-Filing.

This ends the process of preparing and submitting tax returns online by the Taxpayer.

One is to download the application Income Tax form, fill, save and then upload it. Another is filing the online. Only ITR 1 and 4 forms, filed by the individual taxpayers, can be filled online without downloading any software. There are two ways you can file your return online.

Income Tax Online Submission is now mandatory for individuals and Hindu Undivided Families whose accounts have to be audited under Section 44AB of the Income Tax Act, 1961. For companies, e-filing with digital signature is mandatory. You can also use the tax return preparation spreadsheet provided on the IT department website.One basic advantage of using e-filing is speed. For instance, when filing your tax income, using the internet and emailing tax forms directly to the IRS will only take a few minutes.

What is the Advantages and Disadvantages of Public Limited Company

NeuSource Startup Minds

Public limited companies are those companies whose shares are traded in the stock market or issue fixed deposits. Simply stating, these are those companies that trade on a local exchange, whose shares can be bought and sold. These are registered under the Companies Act, 1980 with statutory minimum capital requirements and share offered to the public subject to the conditions of limited liability. The local laws of our country may not apply as strictly as it is normally indicated and there will likely be some variations. These companies are a kind of large business entity. It has limited liability and also offers shares to the public; also providing huge benefits to the people compared to the private limited company. The PLC shares can be purchased by anyone during trading on the stock market or initial public offers. Public limited company is the large scale business that consists of 3 directors and 7 shareholders. PLC enjoys huge benefits like limited liability, transferability, borrowing capacity, and others.

For public limited company registration, the company must have a minimum of 3 directors, 7 shareholders and a maximum of 50 directors. The shares can be transferred easily and getting a loan to the public sector is easy. If any of you are looking for the Online Process of Public Limited Company Registration in India, come and visit us!

Advantages:

  • Limited liability
  • Representative management
  • Easy availability of capital by issuing shares to the public
  • Separate legal entity
  • Artificial person
  • A company can sue and be sued in its own name
  • Body corporate
  • High credible entity compared to other types
  • Unlimited capital investment opportunities
  • Liquidity
  • Easy to acquire other companies
  • High-end business organizations
  • Can issue shares to the general public
  • More availability of capital to reinvest back into the company than non-public limited companies
  • Raising capital through public issue of shares
  • Widening the shareholder base and spreading risk
  • Growth and expansion opportunities
  • Diversification
  • Pursue or gain new projects, new products or new markets
  • Grow capital expenditure to support and enhance the business
  • Make acquisitions by offering shares to the shareholders of the target business
  • Acquire funds for research and development
  • Pay off existing debt or replace existing debt with new debt on better terms
  • Exit strategy

Disadvantages:

  • More compliances than private
  • More legal formalities as compared to other forms of company
  • All the decisions must be taken by passing proper resolutions (ordinary or special)
  • Maintenance of documents is more as compared to other forms
  • Not much access to freedom
  • No secrecy maintained
  • More regulatory requirements
  • Need to have a minimum of two directors
  • More onerous and difficult rules applied for concerning loans to directors
  • A suitably qualified company secretary must be appointed
  • Higher transparency accounting records must be presentable within 6 months of the end of the financial year
  • AGMs must be held
  • Higher levels of transparency required
  • Ownership and control issues

Public limited companies are huge business organizations. They possess a lot of capital invested in them and the investors are the public itself. So, if one wants to start a big business, a public limited company is a good idea. We can also guide you for Public Limited Company Registration in India.

Taxation for Proprietorship Firm Compliances

NeuSource Startup

If you are the proprietor of a sole proprietorship company then there are certain compliances that you need to fulfil in order to continue working smoothly. The compliance requirement for businesses varies from organization to organization depending upon various factors like the type of industry that you are working in, the entity, the state of incorporation, the sales turnover of your business, etc. Here is NeuSource Startup Minds give you information about Proprietorship Firm Compliances Process Online.

However, there are some common and major compliances that need to be fulfilled by almost all the sole proprietorship companies. These include-

  • Filing the tax return annually.
  • Filing the GST return if your business is registered in GST.
  • Deduct and file TDS return, if liable for a tax audit.

Reasons to major compliances

  • Income tax filing

If you are a sole proprietorship then the one compliance that you need to take care of is the income tax. You need to ensure to file your income tax return if you have a taxable income that is over the exemption threshold. In case you have a big proprietorship business operating successfully then even a tax audit can be needed.

  • GST Filing

The Goods and Income Tax law that came into effect in 2017 is an indirect tax. This tax is a comprehensive, destination-based, multi-stage tax that is imposed on the supply of goods and services. Under it, the proprietor who has a GST registration is needed to file his/her GST return on a monthly, quarterly or annual basis.

  • TDS Filing

It is mandatory for the sole proprietors to deduct and then file the TDS return if they are liable for a tax audit. The proprietors that have TAN have to file their TDS returns quarterly and to deduct tax at source as required by the TDS laws.

How can we help in Taxation for Proprietorship Firm Compliances?

We aid the sole proprietors by helping them in filling the mandatory returns and by assisting them in maintaining annual compliance. We offer this assistance by-

  • Tax return preparation

We can help you by offering you an expert who can prepare your tax returns for you on the basis of your financial records and your performance during the past financial year.

  • Verification

One we have got your income tax return handled and prepared in the requisite format, after that your finance team can verify the return and affix the digital signature of your company on the documents.

  • Filing

After the return has been prepared and verified in the next step it can be filed with the Income Tax Department along with all the needed documents.

Why choose us?

  • We offer you a dedicated and experienced team that is more than capable of handling your tax, GST and TDS returns.
  • In case of any doubts or grievances, our team is always ready to offer any verifications or help needed by our clients.
  • Our mission is to help an entrepreneur in abiding by legal and regulatory requirements as required by the law and we take our jobs very seriously.

So, if you are a sole proprietor who is looking for assistance in filing returns, then hurry and contact us soon!

Email:- info@neusourcestartup.com

Contact:- 7305145145

Limited Liability Partnership and its Features

NeuSource Startup Minds

A limited liability partnership firm is a partnership when all the partners of the firms have minimum liability, depending upon the jurisdiction. In a limited liability partnership, one partner will not be responsible for another partner’s misconduct and wrongdoing. This partnership differs from a traditional partnership entirely. Limited liability partnerships can be created with all or some partners. In India, the limited liability partnership act 2008 was officially introduced on 9 January 2009 and was in effect from 31 March 2009. Limited Liability Partnership Registration Online is possible without any hassle.

Here are some key factors of LLP

  • In the matter of taxation LLP is treated as a traditional partnership.
  • The liability of partners will depend upon what partners have agreed on and contributed.
  • The LLP act requires that one of the partners in LLP must be an Indian.
  • In LLP partners are shielded from the wrongdoings and misconducts of other partners.

Key features and benefits of LLP

  • The credibility of the business: The LLP requires to put LLP information such as the name of the LLP, date of the formation, office address of the LLP and status, in public search database. Which makes it more available to the customers and investors. 
  • Separated legal entity: The LLP is treated differently from its partners meaning that it would be given a unique registration number, and it stays the same during its lifetime even if the company changes its name.
  • Auditing provision: The LLP which has not crossed the bar of 40 lakh rupee in a financial year and it has not made a contribution more than 25 lakh rupees need not get the audit of their accounts.
  • Flexibility in the Organization: A LLP has flexibility in partnership in an organization. Normal dealing with the day to day work will be written in the agreement such as losses and profit, ownership of property, etc.

LLP Registration Online India can be done easily. Here is the online process of Limited Liability Partnership registration.

Before registering for LLP one must apply for the digital signature of the partners. Because every work under LLP will be done online and partners need to sign it digitally. After that, a unique name should be created to proceed with the LLP. After it, a form for incorporation of limited liability partnership should be filed under the guidance of the registrar having jurisdiction of the state in which the LLP office is situated. Now an LLP agreement should be created. The agreement should be filed within the 30 days of the incorporation of the LLP and it has to be printed on a stamp paper. After that partners need to apply for a PAN card. And in the end, open an LLP bank account to complete the process.  Now we know everything about an LLP. it entirely depends upon partners whether they want to go for LLP or not. Some partners trust each other more than other partners so they might go with a traditional partnership. We do not see any problem with either of the two options.

What to Expect from Startup Consultancy Services

NeuSource Startup Minds

A startup consultancy service is, which helps startups move forward in a specific aspect of the business. They are not a part of the startup. It is just outside perspective startups hire to help themselves.  A consultancy team can be hired for some time for boosting growth.

Setting up your startup in the market where competition is already very high can be tricky. Startup companies, in the beginning, suffer to understand their market and what is the best way to approach their customers. When someone setup a startup they have very limited resources, like limited money, very few connections and not the right people to share the market with. Problems are not limited to these they sometimes suffer total drawback and lose everything they have, which puts them at the starting point again.

So how to avoid falling back every time you try something new? Startups are all about risks and no one can get success without taking risks. Therefore taking expert advice on when you plan a startup is recommended. Startup Consultant Services in India is experienced and will help you in every way possible. Here is what you will get when you choose to go to a business startup consultant services India.

  • Feedbacks: Startups start with experienced workers but in the chaos of setting up the startup, outside changes in the market get ignored. Let us say it took you one year to set up the startup, were you able to keep track of the market in that time? The answer would be no! Startup consultancy services in India will give you unbiased feedback which is necessary for the startup to grow.
  • Expertise: No matter how much research you have done before setting up a startup the research will never be enough. Startup consultancies have years of training in business. Startup consultancies have entire teams to keep track of every change in the market. They will deliver the recent news and ideas on how you can grow your startup.
  • Market knowledge: Consultancies research the market as per your requirement. Market research not only includes the data of the market but it also gives you plenty of research on your competitors too. A well-researched market data will help startups to establish in the market.
  • Planning: One of the most common things which a startup lack, in the beginning, is a plan. Yes, they know what they need, what market they are aiming for and who will be their customers. But they do not know how to approach the ideas they have, how to take a lead. Startup Consultant Services in Delhi NCR helps startups in planning. 

Consultancies do not only help you with your problems but they also get you connected with other companies. Consultancies have years of experience hence they have a lot of good connections. With consultancy services, you will ask the right questions and if you do not, then they will help you with that too. Hiring a consultancy service is never a bad idea. Just make sure you choose the right one.

Section – 8 Company Registration Process in India

A section-8 company is which spends all its money promoting what they believe in. the company could promote religion, education, sports, social welfare, charity, etc. The company also does not pay any kind of income to its members. These companies are limited companies under the Companies Act. The only difference is that they do not need to use “limited company” at the end of their names. They can either be registered as a “private limited company” or “public limited company”. Section-8 companies are a legal form of NGOs and NPOs. These companies can work in any state of the country; there are no restrictions for them.

Benefits of Section 8 Company Registration Online in India, Delhi, Bangalore, Lucknow

  • No minimum capital: For the incorporation of section-8 companies there is no minimum capital required. It can be formed with any minimum capital but yes investors and promoters can be brought in to support the organization.
  • Name: Section-8 does not require to put private limited or limited at the end of its name. It can be named as a charity, foundation, club, council, institution, etc.
  • Tax benefits: Section-8 companies do not pay tax the same as other companies, they have many tax benefits.
  • Membership: Section-8 company can be obtained by a registered partnership firm.

Eligibility criteria for Section-8 company formation

  • The company should be registered under the Companies Act, 2013.
  • The company needs to get a license from MCA.
  • The maximum number of directors can be 15. If a company want to add more director than a request can be made in a general meeting.
  • At least one director should be a member of India.
  • Whatever initial amount has been proposed for the company, it should be invested in it within 2 months.

Online NGO Registration Online In India, Delhi, Mumbai, Bangalore, Lucknow.

  • First, you need to fill in your details online. You will be required to fill in your name, email address, contact number and state.
  • Then you will need to fill for DIN and DSC.
  • After that the company needs to go through the name approval process. 2 names could be proposed and name availability needs to be checked under “reserve unique name”.
  • It is compulsory to attach form INC-12. It is also advisable that you put a note with the forms about what work the company will undertake after its incorporation. 
  • When you have gained the approval of the central government one can fill SPICe 32 form.
  • After all the formalities have been done company will be issues a certificate of incorporation. Which means it has been legally formed.

All the documents needed to register the Section-8 company.

  • PAN card copies of all the directors of the company.
  • Address proof of directors.
  • Contact number, email ID, and passport size photograph of directors.
  • Address proof of the company’s registered address.

After all the formalities have been done the company will be formed and it can start working as soon as it wants to.

How Private Limited Companies Form and their Roll

A private limited company is held for small businesses. Liabilities of the members of the company depend upon the limit of the share they have. Also, the shares of a private limited company cannot be sold publicly. Under the Companies Act 2013, private limited companies need to have a minimum of 2 members to start the company. And this number can only get up to 200 not more than that. It is necessary for private limited companies to use the private limited at the end of their names. Pvt Ltd Company Registration Online India can be done very easily. 

Key features of Pvt ltd company registration online

  • Business credibility: In a private limited company, the company’s all data, status, address, contact details everything is available publically. It means customers can reach you anytime and from anywhere they want to.
  • Limit the risk: When the company sees loss it does not mean the personal assets of its members are at risk too. With minimum liability, they are saved.
  • A great team: For any business to get successful it is required that it has a great team.

Benefits of Pvt ltd company registration

  • Globalize the business: It means that any foreigner investor can invest in the company without having to go through any legal procedures.
  • Easy exit plan: In private limited companies share can be given to another individual without any hassle.

So these were the key features and benefits of a private limited company. Online Process of Private Limited Company Registration in India.

  • First, the candidate needs to get a digital signature certificate. This procedure is necessary because in online business everything will be done online where your sign will be required too.
  • Then the candidate needs to obtain and prepare the documents which have the necessary information to create the establishment.
  • After the documents are settled they will be checked, attested and stamped. For this, the individual needs to upload the form and documents on MCA’s official website. Where it will take 3-4 working days.
  • After the documents have been authorized then a copy of COI will be sent to the client via registered mail ID.

Candidates need to have their PAN cards, address proof, passport size photographs of all promoters and directors, contact information and email ID. Along with that, they will also need registered address proof of the office.

How to register with NeuSource Startup Minds

  • First, you need to register with us and make the payment. Then we will prepare all the documents to get your signs.
  • Sign the documents when you receive them and complete the necessary requirements.
  • Now mail back the signed documents to us so we can complete the process.

These are the simple procedures you need to follow. Most of the work is done by others you just need to sign the papers. Do not think twice to register as a private limited company. We are the most trusted organization you will find.

Benefits, Tradition, and Procedure of One Person Company Registration in India

An OPC is a company in which there is best one proprietor who can act as each a organization director and a corporation shareholder. OPC was delivered in India in the corporations Act 2013. This act allows qualified individuals to create a corporation on there personal with minimum legal responsibility. In a private agency minimal,  directors and participants are required and inside the public organisation minimal, 3 administrators and 7 contributors are required. however in OPC company can be created handiest with one director and one member. OPC enterprise Registration on line India may be executed with a few easy steps with none hassle. Here we are telling you about Online Process of One Person Company Registration

Some blessings and factors of OPC

●             One character enterprise- The law brought in 2013 states that if a person who has the ability and functionality to form a agency can shape OPC with one member. it’ll be prison and it will be delivered as a non-public business enterprise.

●             unmarried-member- unlike other organizations, One individual corporation registration on-line India does no longer want to have many members or many shareholders. only one member is enough for an OPC.

●             Nominee- there may be one extra thing which differs OPC from other businesses and that is that the company desires to say a nominee to whilst registering the OPC.

right here are a few myths you’ll listen approximately OPC

higher tax rate: The reality is one character company, confined company and private limited business enterprise all have the identical tax fee of 30% in India.

changes in OPC are tough: This isn’t real additionally. One individual business enterprise has the most adaptable enterprise shape which can be accessed for brand spanking new enterprise too.

high-priced: No. it’s miles nearly contrary OPC requires much less value to maintain bookkeeping, yearly roc filing, and cost filing.

permits aren’t important: If a businessman wants to function legally then it wishes to get a license for the commercial enterprise. The lets in and licenses rely on your locality, nation, and sort of business.

Renewal is needed each year: This is not actual. as soon as the employer has been registered it’ll be criminal and in facts its entire life unless the proprietor shuts it down.

One Person Company Registration in India, Delhi, Mumbai, Bangalore, Lucknow is the identical. And here is the procedure of OPC.

●             First, the owner and the member want to sign up themselves for virtual signature in view that all the work could be executed on line.

●             After that, you may require to accumulate all of the files and put together them.

●             when you are completed with the files u[pload your forms and documents at the MCA website on-line. it’s going to require the necessary stamps and fees.

●             After that, the branch will send a smooth reproduction of the certificates of Incorporation to the registered purchaser’s electronic mail identification.

people need to have positive documents to sign up OPC. they want to have a PAN card of director, email identity and contact wide variety of the director, id proof of the directors, deal with evidence of directors, cope with evidence of the office.

Process Of Proprietorship Firm Registration in India

Unlike how a private limited company and limited liability partnership is formed, a sole proprietorship does not need to get itself registered anywhere.
But if one wants to register their own firm, then getting it registered via online mode would be the best and the most practical way of getting a Proprietorship Firm Registered in India.
A sole proprietorship can be started at any point in time.
All one needs is a bank account. Most banks nowadays insist on a profession’s tax registration or a shop and establishment registration in order to open a bank account for a sole proprietorship.

Advantages:
● One person required as a single entrepreneur
● Single owner of the business entity
● Easy to start
● Easy to wind-up
● Complete control by the entrepreneur
● Lower cost of formation and compliance

Disadvantages:
❏ Lack of resources
❏ Unlimited liability
❏ Lack of credibility
❏ Unable to raise funds easily
❏ Cannot add partners
❏ Has to manage on his own
❏ Enjoy profits and suffer losses, all by himself

As a sole proprietor, the main primary objective of the firm would be opening a current bank account on the name of the business, so most of the banks can ask for any legal certifications for the business.

Whether it is a service-based business or a manufacturing or trading business, some of the most commonly used documents that are required in the Process of Proprietorship Firm Registration:
ID and Address Proof as PAN Card, Passport, Voter ID, Aadhaar Card, Driving License Copy of the Proprietor

➔ One business place address proof i.e. if the property is on a rented space, one will need a rent agreement and no-objection certificate from a landlord and if the property is on its own, they will need electricity bills or any other address proof
But for VAT, one needs a security amount as fixed deposit or requires a minimum of two surety dealer that is already registered in that state VAT registration.

Sole Proprietorship Firm Registration is single-person firm registration. Simply stated, it is a firm that is enabled to do business in India with less compliance and fewer cost expenses.
A sole proprietorship firm requires a minimum of two legal entity proof for the opening of a current bank account.

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