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Businesswindo.com is online portal will help you out to start a business by registering it as per your requirement, We specialize in company registration with wide range of business entities like Private limited, One-Person Company (OPC), Limited Liability Partnership (LLP) or Sole Proprietorship Compan.

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Within any organization, a Company Secretary’s duties include ensuring the integrity of the corporate governance frameworks, being responsible for the efficient administration of a company, ensuring compliance with statutory and regulatory requirements and implementing decisions made by the Board of Directors.

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At Businesswindo.com you can avail a package where all your tax related needs will be sorted out so you can concentrate to grow your Business. We help you get your books of accounts audited by qualified professionals on our panel eligible to provide - Statutory Audit, Tax Audit, Internal Audit and Management Audit.

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Will help you out to protect your ideas let it be in the form of a Brand Name, Design, Logo or a New Invention . We have a specialized team of Trademark Agents, Patent Attorneys and Corporate Lawyers to serve you better.

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At Businesswindo.com we also assist to obtain various Tax Registration and also to file the tax returns on time let it be your Value Added Tax, Service Tax, Income Tax, Professional Tax ,FSSAI License, Import Export Code and more.

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About Business Windo

BusinessWindo.com is a unique platform which provide opportunities to young & aspiring minds. It offers online consultation, to budding entrepreneurs pan India, in overcoming the initial formalities of starting a business. This is an initiative to utilise the bandwidth of legal and financial fraternity in business, by lending support to the start-ups under one roof. This one-of–its-kind platform, comprises of legal and professional experts who helps these business set ups.

BusinessWindo.com is a unique venture with an initiative to serve start-ups and new business set ups and support them with services such as New company incorporation, Tax registration, Filing of various taxes, Secretarial services, Chartered accountant services, Trademarks, Copy right, Patent and many more at affordable charges with better transparency.

Unlike other service providers, BusinessWindo provides more than 50 services to its users. In addition, all services are relatively affordable compared to the market and still maintaining the high quality standards.

With a team of young, energetic team it focuses on providing hassle free, transparent online services on www.BusinessWindo.com at affordable price.

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Why Choose Business Windo?

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Value for Money

Handled 1000+ projects and delivered substantial results.

No Hidden Costs

All-round performance throughout toughest challenges and risks.

100% Clear Documents

Our esteemed client’s proposition and absorb their valuable inputs.

Thousands of Happy Clients

Retain customer loyalty by providing consistent efforts and ideas.

Promise best Quality.

Assure complete confidentiality of information shared with us.

24x7 SUPPORT & ASSISTANCE

Troubleshoot service-based problems & help resolve discrete technical issues.

One of the first reasons for which you should choose Businesswindo.com is because it is a capable organization in various areas of business such as Company Registration in Bangalore and GST taxation matters. The organization uses qualified professional experts in the domain of company registration to make your company registration process much smoother than before. The company provides you value for money and in this day and age this is one value that is cherished so highly. When you do business with us you can be sure that there would not be any hidden costs whatsoever and your documents would be cent per cent clear as well. This will make sure that you do not face any problem later on.

We have been in the business for a long period of time and as such we have associated with plenty of entities. They have been happy with the services that we have provided to them and this has cemented our position as a market leader in our chosen domains. More than anything else, we are committed to providing you the best service that we can – in terms of commitment and quality. When we are working with you, your problems are our problems and we would always make our best attempt to solve them to your utmost satisfaction.

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How to Do E-Filing of Income Tax Return (ITR) Online in Bangalore?

How to Do E-Filing of Income Tax Return (ITR) Online in Bangalore?

The term income tax return can be described as a form or a group of forms that you file online with income tax authority of your country. In case of India it is the Income Tax Department. This includes necessary details such as how much you are earning and how much you are spending. With the help of income tax returns you are able to calculate the amount of tax that you have to pay, request refunds in case you have paid more taxes than what you should have, and schedule tax payments if needed. In India the income tax has to be filed once a year. This is applicable if you are an individual or a business that has income that is worthy of being reported.

This includes categories such as the following:

  • wages
  • interest
  • dividends
  • capital gains
  • profits

What is e-filing?

The term e-filing can also be expressed as electronic filing. This is the process where you submit your income tax returns online. There are two ways in which this can be done. The conventional way is to do it offline. Here you go to the office of the Income Tax Department by yourself and file your returns. The other way is the one that we are talking about over here.

In the last few years e-filing has become a lot more popular simply because of the fact that it is a lot more convenient. You can do it for free and you also do not require to print a lot of documents as well.

Who needs to file income tax returns?

As far as who is liable to pay income tax in India is concerned there are several criteria that come into play. In case you are younger than 60 years and your gross income is more than a minimum level in a year you would have to pay income tax. As of now, the minimum level for people in this age group in India is INR 2.5 lakh a year. For people between 60 and 80 years this figure is INR 3 lakh. In case of people older than 80 years the minimum level is INR 5 lakh a year. As far as businesses are concerned they have to file their income tax return for a financial year. It does not matter if they have incurred losses or earned profits in the period under consideration.

How much tax should one pay?

As far as people under 60 are concerned there is a definite rate of taxation that comes into play. For example, people earning less than INR 2.5 lakh a year do not need to pay any income tax. People who earn between INR 2.5 lakh and INR 5 lakh a year need to pay an income tax of 5 per cent. People who earn between INR 5 lakh and INR 10 lakh a year need to pay an income tax of 20 per cent. People who earn more than INR 10 lakh a year need to pay a tax of 30 per cent.

Here you can take a look at some income tax thresholds for different taxpayers.

Income tax slab rate for individual tax payer and HUF [below 60 years]

Income Tax Slabs

Tax Rate in Percentage

Up to Rs. 2,50,000

Nil

Rs. 2,50,000 – Rs. 5,00,000

5 %

Rs. 5,00,000 – 10,00,000

20 %

More than Rs. 10,00,000

30 %

Income Tax Slabs & Rates for Senior Citizen [60 years to below 80 years]

Income Tax Slabs

Tax Rate in Percentage

Up to Rs. 3,00,000

Nil

Rs. 3,00,000 – Rs. 5,00,000

5 %

Rs. 5,00,000 – Rs. 10,00,000

20 %

More than Rs. 10,00,000

30 %

Income Tax Slabs & Rates for Super Senior Citizen [80 years and above]

Income Tax Slabs

Tax Rate in Percentage

Up to Rs. 5,00,000

Nil

Rs. 5,00,000 – Rs. 10,00,000

20 %

More than Rs. 10,00,000

30 %

Steps to file your income tax return

There are two ways to file your income tax return – you can upload your income tax return, or you can prepare and submit it online.

1. Prepare the income tax return by using the downloaded software (through Excel or JAVA utility form), save it and upload the same with e-filing website.

2. Prepare and submit income tax return (ITR) online

Procedure for income tax filing by uploading ITR method, please follow the below steps:

Before going to filing the income tax return, you need to keep all the key documents handy with you which will make easy and take less time to complete that including the Form 16 which is given by your employers, Form 26AS (tax credit statement), bank statements, copy of returns filed last year.

Step 1: To e-file your income tax return, you will have to register yourself on the Income Tax Department, Government of India official e-Filing website (https://www.incometaxindiaefiling.gov.in). Your permanent account number (PAN) will act as your User ID.

You can start the process by downloading the income tax return preparation software from the official website of the Income Tax Department of India. You can get this from the “downloads” page of said website.

Step 2: In the second step you have to prepare the return by using the software that you have downloaded. For this, first you need to gather all your personal financial data such as income, deductions, and tax payments to name a few. You can then go on and fill up your tax payments and other personal details by using the pre-fill button. Make sure to compare once so that you are not missing out on any important detail.

Step 3: Then enter all this data and hit the calculate button. This will help you find out the interest and tax liability. You will also get to know how much tax you would have to pay or how much refund would accrue to you. If you have to pay tax then do pay the tax as soon as you can. Also enter the details in the correct schedule. Repeat this step as that would make sure that your tax payable comes to 0.

Step 4: Then you should create the income tax return data and save it in XML format at a location where you want to in your laptop or desktop. After this you need to log in on the website by using details such as user ID, date of incorporation or date of birth, and password. You would have to enter the Captcha code. Once you are done go the section named e-File and click on the button that says upload return. In this case you need to choose the correct income tax return assessment file that you have already created and saved.

Step 5: If you have to use a digital signature certificate (DSC) please use it. Also make sure that it is registered with the concerned authorities. Once you are done with all this submit it. If you have not used a DSC the ITR-V would be shown on successful completion of the process. If you click on that link and download the ITR-V, it would be sent to your registered e-mail. If ITR is successfully uploaded with the DSC it would mean that process of filing returns is complete.

DSC verification is not compulsory for individual, but you can verify by using e-verification process through 5 ways i.e. (a) AADHAAR OTP (b) NET BANKING (c) EVC GENERATED AT BANK ATMs (d) PRE-VALIDATED BANK ACCOUNT (e) PRE-VALIDATED DEMAT ACCOUNT.

Step 6: In case you have not uploaded the income tax return with DSC or AADHAAR OTP or NET BANKING or EVC GENERATED AT BANK then you should print, sign, and submit the physical documents to the I-T Department of CPC (Central Processing Centre) in Bangalore.

This needs to be done within 120 days of having filed the income tax return. The return would only be processed when ITR-V is received and signed. It is important to keep checking your SMS (short message service) and e-mails for reminders in case the Income Tax Department has not received the ITR-V.

Go Green! It is better to avoid sending ITR-5, e-verify your return.

Step 7: After completion of e-filing of ITR, you can go to My Account menu and click on View e-Filed Returns/Forms to check the status of Refund amount credited to your account or not. To get the refund from the filing of return, it will normally take minimum one month of time.

Procedures for income tax filing by prepare and submit ITR online method

The process of preparing and submitting ITR (income tax return) online is also fairly similar with upload ITR method but a few differences. Only ITR-4 and ITR-1 returns can be prepared and submitted through online.

What is the deadline for income tax filing?

Usually, the last date for filing of income tax return is July 31 of a year; but the Central Board of Direct Tax (CBDT) department has extended the due date for filing income tax returns from 31st July, 2018 to 31st August, 2018 for the financial year 2017-18. For example, you need to file the income tax return for the financial year 2017-18 on latest by August 31, 2018 for the assessment year of 2018-19.

If the taxpayers file their tax return for the financial year (FY) 2017-18 after the deadline of filing return, they are liable to pay a penalty fee upto Rs. 5,000 as late fee charge and it should be file before December 31, 2018. Otherwise the payable fee may be increase to Rs. 10,000, if the tax return is filed between 1st January 2019 to 31st March 2019; And it is applicable for them; whose total income is above Rs. 5,00,000.

However, the I-T Department made a relief for small taxpayers; if the total income of the taxpayer is less than Rs. 5,00,000; the maximum penalty fee shall not exceed Rs. 1,000.

So, we always advised the taxpayers to file ITR before the due date to avoid paying the late fee.

Benefits of filing income tax returns (ITRs)

An ITR receipt is an important document for a responsible taxpayer as it tells more than the Form 16. While Form 16 only shows the salary and tax deductions from an employer, ITR shows the income from other sources also.

Here you can take a look at the 8 advantages of filing ITR:

1. It helps to avoid huge penalties from tax department.

2. It helps to keep away from 1% of extra interest rate per month on the tax liability, as per the Section 234A.

3. It helps to claim your full TDS refund.

4. It helps to make easy process for applying a bank loan.

5. It helps to carry forward the capital losses which can be adjusted against the capital gains made in subsequent years.

6. It helps to make easy processing for VISA approval on travelling overseas (when you are travelling to foreign countries).

7. It helps to buy a high life cover insurance policy with sum insured of Rs. 50 lakh or more.

8. It helps to show the only proof of income and tax payment for freelancers or self-employed professionals.

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Read On More:

MCA Updating KYC of All Directors

How to Get FSSAI License in Bangalore?

How to Get MSME Registration Certificate in Bangalore?

A Step by Step Guide to Claim Income Tax Refund (ITR)

MCA Updating the Register of Directors by Filing DIR-3 KYC e-Form

MCA Updating the Register of Directors by Filing DIR-3 KYC e-Form

The Ministry of Corporate Affairs (MCA) has recently notified to conduct the KYC (Know Your Customer) for all directors of all companies through a new e-Form via DIR-3 KYC by August 31.

According to MCA, it would be mandatory for every director who has been allotted DIN on or before 31st March, 2018 and who’s DIN is in ‘approved’ status required to file the form DIR-3 KYC on or before 31st August, 2018. And it is compulsory for Disqualified Directors whom they need to file in DIR-3 KYC form also.

MCA Notification on Directors KYC Updation

As stated by the MCA, the Directors KYC notification with respect to updating registry is as follows:

As part of updating its registry, MCA would be conducting KYC of all Directors of all companies annually through a new eform viz. DIR-3 KYC to be notified and deployed shortly.

Accordingly, every Director who has been allotted DIN on or before 31st March, 2018 and whose DIN is in ‘Approved’ status, would be mandatorily required to file form DIR-3 KYC on or before 31st August,2018.

While filing the form, the Unique Personal Mobile Number and Personal Email ID would have to be mandatorily indicated and would be duly verified by One Time Password (OTP).

The form should be filed by every Director using his own DSC and should be duly certified by a practicing professional (CA/CS/CMA). Filing of DIR-3 KYC would be mandatory for Disqualified Directors also.

After expiry of the due date by which the KYC form is to be filed, the MCA21 system will mark all approved DINs (allotted on or before 31st March 2018) against which DIR-3 KYC form has not been filed as ‘Deactivated’ with reason as ‘Non-filing of DIR-3 KYC’.

After the due date filing of DIR-3 KYC in respect of such deactivated DINs shall be allowed upon payment of a specified fee only, without prejudice to any other action that may be taken.

From this notification it is clear that

Who has to File DIR-3 KYC?

Directors of all companies who have got DIN on or before 31st March, 2018 and whose DIN status is approved are required to file e-Form DIR-3 KYC.

When is the Due Date of DIR-3 KYC?

Due date for filing of e-form DIR-3 KYC is 31st August, 2018

Mandatory Information Required for DIR-3 KYC

  • Unique Personal Mobile Number
  • Personal E-mail ID
  • OTP on Mobile and E-mail ID need to verify accordingly.

Certification Required to File DIR-3 KYC

  • DSC of Director
  • DSC of Practicing Professional like CA/CS/CMA

Is Disqualified Directors Needed to File in DIR-3 KYC Form?

Yes, it is mandatory to file DIR-3 KYC by Disqualified Directors.

Result of Directors Who Fails to File DIR-3 KYC Form

The MCA system will mark the approved DINs as Deactivated due to ‘Non-filing of DIR-3 KYC’.

Consequences of Filing DIR-3 KYC After Due Date

The deactivated DINs shall be allowed upon a payment of specified fee only.

Some Frequenlty Asked Questions (FAQs) on DIR-3 KYC

1. Who is required to file DIR-3 KYC form?

Every Director who has been allotted Director Identification Number or Designated Partner Identification Number (DIN/ DPIN) on or before 31st March, 2018 and the status of such DIN is ‘approved’; they need to file e-form DIR-3 KYC to update KYC details in the system as a Director on or before 31st August 2018.

For Financial Year (FY) 2019-20 onwards – Every Director who has been allotted DIN/ DPIN on or before the end of the financial year, mandatory to file e-form DIR-3 KYC before 30th April of the immediate next financial year.

After deadline of respective due date, the system will mark all non-complaint DINs as ‘Deactivated’ due to missing the filing of DIR-3 KYC form on time.

2. Which details are required to be filed in the form?

Name, Father’s Name, Date of Birth (DOB) [all are as per the PAN information], PAN Number (mandatory for citizen of India), Personal Mobile number, Email ID and Permanent/ Present Address.

In addition to this, the Directors are required to provide their AADHAAR, if not then Voter ID or Passport or Driving License.

3. Is it mandatory to enter personal mobile number and email ID in DIR-3 KYC form?

Yes, it is mandatory to enter your personal unique mobile number and personal unique email ID in the form DIR-3 KYC and it has to be verified by OTP and email process. This mobile number and email ID must not be linked to other person’s DIN holder.

4. How does the OTP works in DIR-3 KYC Form?

Send OTP button will be enabled only after the successful pre-scrutiny of the form. After the successful of pre-scrutiny, the applicant/ user has to click on ‘Send OTP’ button.

Please note that, once OTP is successfully sent to the valid and active mobile number and email ID, the ‘Send OTP’ button gets disabled automatically and the OTP is valid for 15 minutes.

5. Who are the signatories in DIR-3 KYC form?

The DIN holder and the certifying professional (CA/ CS/ CMA) are the two signatories in the form DIR-3 KYC.

6. If I am a disqualified director, am I required to file the form DIR-3 KYC?

Yes, disqualified directors are required to file the form DIR-3 KYC.

7. What is the late fee for filing of form DIR-3 KYC?

There is no fee for filing of DIR-3 KYC Form within the due date with respective to financial year. However, if you filed after the due date for DIN status ‘Deactivate’; a fee of Rs. 5000 shall be payable.

8. Can a non-resident director is allowed to provide Indian mobile number?

No, a non-resident foreign director is not allowed to provide Indian mobile number, but he shall be allowed only to enter his/her foreign address and foreign mobile number.

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Read the Posts:

How to Get FSSAI License in Bangalore?

How to Apply for MSME Registration in Bangalore?

How to Obtain FSSAI License in Bangalore?

How to Obtain FSSAI License in Bangalore?

The FSSAI (Food Safety and Standards Authority of India) license is an initiative of the Indian Government. The main aim behind starting it was to make sure that there was no compromise on the quality of the product, that it was not adulterated in any way whatsoever, that the quality of the product was a lot better compared to what it was earlier, and to make sure that the manufacturers were accountable at all times. Each and every food business in India needs this license from this authority body in order to perform its business. It is obligatory for all manufacturing units as well as distribution units.

Introduction to the FSSAI license

All the restaurants, and even street food vendors, need approval from FSSAI to do their business. It does not matter how much they earn in a year – they have to have this license. Operators in the food business of India need to apply for this irrespective of the scale that they are operating at. Normally this license provides you a 14 digit license or registration number that is printed on the package of your product.

The FSSAI license is classified into 3 types. We can say that there are three categories of food license in India such as

  1. Basic license
  2. State license
  3. Central license.

You can apply for the basic license if your turnover is lower than INR 12 lakh. If your turnover is between INR 12 lakh and INR 20 crore you can apply for a state license. If your turnover exceeds INR 20 crore you should apply for a central license.

And the business operators can choose the food license based on their root. Apart from this, a normal food business operator must require the basic food license. If your products are superior quality to others, safety and healthy, no adulteration, value for money, more demanding and you want to expand the business then you can go for state or central license.

Why does a food business operator need a license?

There are several reasons as to why FBOs (food business operators) such as you need to apply for this license apart from the fact that it is mandatory. You need to make sure that your consumers do not fall ill or their safety is not compromised in any way after consuming your product. The license happens to be a great tool of marketing and this is one reason why it can boost your business to such an extent. The license is necessary to make sure that you are able to provide the finest quality of food to the people.

This license also helps you stay at par with the statutory requirement of the government as well. This is a recognition from the union ministry of health and assures the common consumers that you are providing the finest quality of food to your consumers. The FSSAI license can help you expand your business quite easily as well. With the help of this license you would also find it easier to raise money from financial institutions such as banks and expand your business. You can use the logo on pamphlets and menu cards as well and it would be a sign of the fact that the food you are selling is superior to others in terms of quality.

Services that need this food license

As is stated by laws in India each and every FBO has to apply for this license and procure it. A food business is basically one that takes part in making, storing, packing, and distributing food. It could also be one that imports or exports food, and processes food. The following kinds of entities are regarded as FBOs and they needs FSSAI authorization:

  • Restaurants, boarding houses, and clubs that serve food
  • Canteens of schools, offices, colleges, and various other institutions
  • Warehouses
  • Catering services
  • Homemade food businesses like chocolates, jams, and pickles to name a few
  • Bakery
  • Food trucks
  • Sweet shops
  • Food technology service providers
  • Cafes
  • Banquet halls that have arrangement for food catering
  • Food vendors such as dabbawallas

As far as FBOs are concerned there are a wide range of rules and regulations that it has to follow in order to get this license just so that you are able to sell their products and services in the market.

Penalties and offences as per FSSAI rules

If you do not have an FSSAI license you could be imprisoned for as long as 6 months and you may have to pay fines that are as high as INR 5 lakh. If you have issues with the quality of your food you may have to pay a fine of INR 5 lakh.

The penalty is the same in case of subpar food. In case someone dies by eating your food you would have to pay at least INR 5 lakh. In case someone is injured seriously you may have to pay a maximum fine of INR 3 lakh. The figure is same in case of other injuries as well.

Renewal and validity of FSSAI license

The license has to be taken for a period of at least a year. At the most it can be availed for 5 years.

As an FBO you can apply for a license on the basis of the demand and supply of the product in question. As far as small vendors and startups are concerned it is better to have at least a basic license. When the business expands you can go for a central or state license as well. If you want to renew it you should apply for the same at least 30 days before the validity period expires. If you fail to appeal within this period you may have to pay fines as well. This is the reason why you should apply for the same within the prescribed time.     

Getting the FSSAI license/ registration in Bangalore

You can forward your online application for the FSSAI license to the following address in Bangalore:

Food Safety Commissioner for Karnataka,

Commissioner of Health & Family Welfare Services,

Health & Family Welfare Services,

Public Health Institute,

Sheshadri Road, Bangalore – 560001

You can also call 9069142028 for help in this regard. In fact, as far as getting this license is concerned you can seek help from registration agents working in the Garden City. They happen to be licensed by the authority body itself and would thus help them get the job completed with ease. These agents employ experts with regards to the kind of food license that would be just what the doctor ordered for you. However, it is always better to keep checking the internet and getting touch with the authorities in order to get the latest information in this regard.

Here's look at the application process of FSSAI license (we are preparing the process)