1. Book-keeping is an art and science. While the availability of ready made software has made it easy to do this task, it does require skill to understand the business, commercial practices, tax implications, statutory requirements. This makes the task very interesting and non-monotonous. Win specialised the same with providing of timely information whenever required with a. Specialised and experienced staff b. Minimise your cost c. Be informed d. Timely reporting e. Convenient f. Accuracy

a. Cost saving beyond doubt b. Consistency in delivery c. Pain of Staff churn is avoided as win is only a call/email away for any of reports you need d. No hassles of software

You should maintain your accounts as soon as you start transaction of your business. Hence it is advisable to hire a book keeper as soon as you incorporate your company.

If your accounts are messy then you should hire a bookkeeper as soon as possible to keep your accounts on track. If you choose WIN as your accounting help, our experts accountant will closely work with you at initial time period and suggest best corrective measures. to get the historical data and keep the accounts on track as per relevant accounting standards and taxation requirements. Book-keeping is like a blood in your body. You have to keep them in good stead as it is used for all your business needs.

Not at all! On the contrary you have all your data on your fingertip! Your accounts are available to you anytime you wish. All the reports are available on the system. Confidentiality is maintained as you are given unique password to access your records anytime, anywhere.

Statutory book keeping as prescribed under The Companies Act and Taxation laws. Essentially it means all your business transactions showing Revenue, expenditure, fixed assets, capital, liabilities and much more.

Regulators do not generally accept books of accounts in excel. Excel is susceptible to editing and can lead to loss of information. Different types of accounting reports are not easily available in excel. Bookkeeping requires the use of double-entry journal accounting to ensure that the Trial Balance is correct. Revenue authorities generally does not accept book-keeping in excel.

If an accountant is keeping your books and at the same time able to fulfil mis requirements of owners, take care of all compliances under applicable tax laws and if he remains with you forever, then you do not require book keeping service from us.

A LLP is blend of partnership and company. Legally it is another corporate structure entity which gives the benefits of limited liability of a company and the flexibility of a partnership. The LLP has its independent existence from its partners and is capable of entering into contracts and holding property in its own name.

Due to its dynamic structure, an LLP has many benefits as listed below: • Simple Registration Process • Limited Liabilities of the Partners • Separate Legal Existence • Fewer Compliances • Unlimited partners • An Audit is not Mandatory • Flexibility • Partners are not agents of other partners

The formation of an LLP requires two designated partners with their Directors’s Identification number (DIN) and an active Digital Signature Certificate (DSC). An appropriate name of LLP and objects of LLP need to be finalised. A constitutional document by way of LLP deed shall be executed among the partners. There is an online LLP registration process. It is registered with the MCA. At the time of incorporation, stamp duty has to be paid. Such stamp duty is paid to the state in which the registered office of an LLP is situated. The amount of stamp duty is decided on the amount of capital contributed at the time of incorporation and as per the state’s stamp duty Act. The process of registration is as under: 1. Application for Digital Signature Certificate 2. Reservation of LLP Name 3. Filing of incorporation form along with DIN Application 4. Application for PAN & TAN 5. Filing of LLP Agreement

An LLP can be formed with Companies House in 3-6 working hours (depending on how busy Companies House is) by using the online services of a company formation agent.

Any individual or body corporate may be a partner in an LLP. However, an individual shall not be capable of becoming a partner of an LLP, if— (a) he has been found to be of unsound mind by a Court of competent jurisdiction and the finding is in force; (b) he is an undischarged insolvent; or (c) he has applied to be adjudicated as an insolvent and his application is pending

DIN is a Director Identification Number. It is a unique number provided to an individual to become a designated partner in LLP or a director in a company. If a person has DIN then he can become a designated partner easily. Otherwise, DIN shall be allotted by MCA at the time of incorporation of the LLP. Following documents are needed for the application of DIN. • PAN • Identity proof (Passport/Election card/Driving License) • Address proof (Bank Statement/Electricity bill/Mobile Bill- not older than two months) If any of the partners is a foreigner, then the passport is mandatory and all the documents must be apostilled. If there are changes in any information relating to the partners such as an address, name, etc. then it must be communicated to MCA in a specified form within 30 days.

Digital Signature Certificate for partners is provided in the form of a token and issued by Certified Authorities. Any form filed for incorporation of Limited Liability Partnership (LLP) in India online shall be submitted after affixing the DSC of the designated partner.

To register an LLP in India, the following documents/details are required: • PAN Card of the Partners • Identity and Address Proof of the Partners • Utility Bill of the proposed Registered Office of the LLP • No-Objection Certificate from the Landlord • Rental Agreement Copy if the place is rented. • Email ID and mobile number of Partners • Qualification of Partners

No. There is no minimum amount prescribed to form an LLP in India. It can be started with any amount of capital demanded by the business. Although there is no minimum requirement, every partner must make a contribution financially to form LLP. The amount of capital contribution is disclosed in the LLP Agreement and amount of stamp duty is decided by the total contribution amount.

Yes, a Limited Liability Partnership registered in India can carry on more than one business subject to their relevancy. The activities must be related or in the same field itself. Unrelated activities such as Interior Designing and Legal consultancy cannot be carried under same LLP. At the time Name Reservation, the draft object clause is attached for ROC approval and the same approved object clause is attached with the agreement and filed with ROC.

Every LLP has to comply with the post-registration compliances. If such compliances are not followed then LLP shall be liable for penalties. After incorporation, the LLP must open a current account in the name of the LLP and the partners have to deposit the capital contribution as agreed. Following are the mandatory annual compliances for an LLP. • Filing of Annual return with MCA • Filing of statement of accounts and solvency with MCA • Filing of form DIR-3 KYC for all partners with MCA • Filing of Income tax return

An LLP is taxed at a flat rate of 30% alike a partnership firm.

Foreign Direct Investment is allowed in an LLP under the automatic route. FDI is allowed in the case where the LLP carries on business activities in sectors, where 100% FDI is allowed through automatic route. Further, an LLP must comply with the RBI provisions and file necessary forms.

1. Yes, any existing partnership firm registered or unregistered can be converted into an LLP by filing necessary documents and forms with the authority. 2. Yes, Registered LLP can be converted into Private Limited Company by filing necessary documents and forms with the authority. 3. Yes, Private Limited Company can be converted into LLP by filing necessary documents and forms with the authority.

Both LLP or PLC offers limited liability protection to owners of the entity. Both have perpetual existence. However, in terms of compliances, LLP offers a more lenient trajectory. Private Limited Company carries more weightage in terms of credibility in the eyes of stakeholders as they are governed more strictly by statute. Audit is compulsory for PLC whereas in case of LLP, audit depend upon its turnover and capital. PLC offers a very convenient form when there is foreign direct investment of divestment of company to an investor. Tax treatment for both are different. PLC has a lower tax regime as comparted to LLP however the mode of tax calculation is different.

An LLP can be closed in two ways. 1. By declaring an LLP as defunct 2. Voluntary winding up

One Person Company is a type of Private Company of sole-proprietor. OPC may be registered as a private Company with one member and may also have at least one director.

OPC is to be registered with Registrar of Companies (ROC) with the following steps: • Obtain Digital Signature of Directors and Subscriber • Name Reservation (in the form of XYZ (OPC) Private Limited). • A nominee should be appointed before incorporation and Consent of the nominee should be obtained in Form INC-3. • After approval of the name SPICe+ forms are to be filed with prescribed documents. • With the approval of the ROC, the Certificate of Incorporation is to be issued by the ROC.

YES, Only a natural person - who is an Indian citizen and resident in India or otherwise (NRI) (w.e.f April 01, 2021) is eligible to incorporate OPC in India.

No, FDI into a one-person company in India is restricted.

Following are the advantages of registering a company as a OPC_ • The Liability of the OPC is Limited to the amount of investment made in the company • Easy to obtain funds from Bank, Financial Institutions and Investors. • Perpetual Succession- Nominee gets control over the company if the original owner is not able to discharge his duties due to death and any other eventuality. • Control over the Decision-making and implementation while the firm has been incorporated as a company. • Less Compliance than other forms of Companies.

• Self-attested Pan Card of Sole Member • Proof of Identity of Sole Member and Nominee (Voter ID/ Driving License/Passport) • Proof of Address of Sole Member and Nominee (Electricity Bill/ Mobile/Telephone Bill/Bank Statement not older than two months) • Email Id and Mobile Number of Sole Member and Nominee • Passport Size Photo of Sole Member • Utility Bill for Registered office

There is no specific tax advantage to an OPC over any other form of company. The tax rate is flat 30%, other tax provisions like MAT & Dividend Distribution Tax (DDT) apply as they apply to any other form of company.

OPC minimum authorized capital of Rs 1 lakh can be used while there is no specified minimum amount for paid-up capital.

A minimum of one Director is required while starting a One Person Company, but you can have up to 15 Directors for your OPC. While there can be only one person as shareholder.

Only a natural person - who is an Indian citizen and resident in India or otherwise (NRI) (w.e.f April 01, 2021) can be the Nominee in an OPC.

There are no such conditions for conversion, OPC can convert into Private Limited Company or a Public Limited Company. As per latest Amendment, the Pre-condition for Threshold Limit and Lock in period for two years is Omitted.

Where a natural person, being member in One Person Company becomes a member in another OPC by virtue of his being a nominee in that OPC, then such person shall meet the eligibility criteria of being a member in only one OPC within a period of 180 days, i.e., he/she shall withdraw his membership from either of the OPCs within 180 days.

A person cannot incorporate more than one OPC.

A Private Limited Company has three components. Company is a form of a legal entity. Private means a business where public at large are not interested and it is owned and controlled by few persons. Limited denotes that the the liability of the members of a Private Limited Company is limited only to an extent of their capital contribution.

With the introduction of new web form SPICe plus, company incorporation in India became easy with the following registrations in a Single Form • DIN (Director Identification Number) • PAN • TAN • EPF Registration Number • ESIC • GST • Professional Tax (Only for Maharashtra) • Bank Account Number

Significant advantages of a Private Limited company is as under: • There is a limited risk to personal assets of the owners (known as Shareholders) • It has its own legal identity separated from its members/directors which means company can exist perpetually even if there are changes in ownership or directorship. • Shares of a company limited by shares (ownership of a company) are transferable by a shareholder to any other person in a very easy and structured way. Whereas the ownership transfer or any interest in a business run as a proprietary concern or a partnership is more complex. • Investment in the company is easy for the investors since it is much easy to monitor, control the company and it also provides easy exit options. • Just as one person can bring a legal action in his/her own name against another in that person’s name, a company being an independent legal entity can sue and be sued in its own name. • For a private company, the earlier minimum number of the share capital was INR . 100000/- (USD 1333), but now there is no such minimum capital requirements for the owners/entrepreneurs. • Corporate Tax rate is lower as compared to any other entity.

Minimum 2 persons are required to incorporate a private limited company. However, you can incorporate an OPC (One Person company), which is also a company to be registered with MCA.

Following are the documents that is required at the time of Private Limited Company registration in India: • KYC Documents of Directors and Shareholders (PAN Card, Aadhar Card, Voter ID, Passport, Bank Statement) • Photo of Director and Shareholders • Digital Signature of Director and Shareholders • Rent Agreement/ Lease deed/ Electricity bill of the business premises of Proposed company • Signed declarations from Shareholders etc.

A Private Limited Company can be formed within 7 days.

Minimum 2 shareholders are required, who can be a natural person or a legal entity.

There is no such requirement of minimum capital (it can be used for business whenever required and does not necessarily have to be kept in bank/company deposit all the time).

Yes, A registered office is required to incorporate a company and thereafter for keeping records and receiving correspondence from all the statutory/government authorities or holding meeting of the members. The registered office does not have to be necessarily owned by the company, but it can be on rented premises also. The registered office of the company determines its jurisdiction for registration and other licences, for instance, a company with registered office in Mumbai will come under the jurisdiction of Registrar of Companies, Mumbai. Accordingly jurisdiction of tax department is also determined.

A Private Limited Company in India can have a minimum of 2 directors and a maximum of 15 directors. However, The Company may appoint more than 15 directors, only after passing a special resolution. For becoming a director in a company, no professional or educational qualification is required. But minimum one director should be resident of India.

Currently the tax rate as applicable to a private limited company are as under. https://static.wixstatic.com/media/b7e167_e39c6c7b044f4d3e9ec899ac1e5afd57~mv2.jpg ·Minimum Alternate Tax (MAT): As the name suggests all the companies (including foreign companies) are required to pay minimum alternate tax at the rate of 15% on book profits if the tax calculated as per above rates are less than 15% of book profits. This will be applicable if the company does not opt for option 2 or 3 above. Health & education Cess:Further 4% of income tax calculated and applicable surcharge will be added to the amount of total tax liability before this cess. For comparison purpose the tax rates applicable to a foreign company are as follows: https://static.wixstatic.com/media/b7e167_9e4f52de65e347b39763f6f131440c55~mv2.jpg Details of the surcharge: https://static.wixstatic.com/media/b7e167_d71c9bdae8bb42fb8405881ea3921d80~mv2.jpg

Here are mandatory ROC compliance for a Private Limited Company: 1. Form ADT 1: First Auditor of the company shall be appointed by the BOD within 30 days of Incorporation who shall hold the office till the conclusion of 1st AGM. 2. Form MGT 7: Form MGT-7 must be filed by all companies registered in India every year. It is an electronic form provided by the Ministry of Affairs to all the corporations in order to fill in their annual return details. The due date for filing MGT-7 is within 60 days from the date of the Annual General Meeting. 3. Form AOC 4: Every Private Limited Company is required to file its Balance Sheet along with a statement of Profit and Loss Account and Director Report in this form within 30 days of holding of Annual General Meeting. The above forms need to be certified by CA/CS/CWA.

Yes, Statutory audit is mandatory in case of Private Limited Company.

Following Registration are required to take after incorporation of a Pvt. Ltd. Co. • Shop & Establishment Act. • GST Registration. • Profession Tax. • Provident Fund • Import Export Code

There are different kinds of methods that can be opted for closing down the private limited company. Here are some of the ways by which you can close down your Private Limited Company legally. • Selling the Company- This is the common method wherein the owner of the company can sell all the shares of the company to any third person. With this, all of the rights and responsibilities of the company are transferred to the other person. • Strike off the Company- Any defunct company who desires to get its name struck off from the registers of ministry can apply to the registrar in the form Fast Track Exit form. Also, the registrar can itself strike off the name of the defunct company if has reasonable reasons to believe that it is required. In the second situation, the opportunity of being heard must be provided to the company. • Voluntary Winding Up-Voluntary winding occurs when the members of the company decide among themselves to close down the company. Under this closing down the NCLT (court), supervision is not there but it requires the final assent from them. for obtaining the order of dissolution.

The major revenue sources of any Government are through tax receipts. To ensure the country gets its fair share of taxes, taxation laws govern how any entity can operate it business in the country by payment of required taxes. Tax compliance simply means to remain compliant with the tax laws of the countries.

By paying the due tax and filing the required returns within due dates. In addition, various records and books of accounts need to be maintained as part of tax compliance.

There is nothing like legal tax avoidance. However, one can plan to bring down your tax bill by availing various incentives, exemptions and deductions offered by the tax laws which is known as legitimate tax planning within four corners of the laws.

Definitely yes. No country will allow you to go scot-free by not paying the taxes. The consequences of non-payment of taxes varies from interest, penalties to criminal cases depending upon the type of crime committed.