What Are The Documents Required For Registering Your Business With MSME?

What Are The Documents Required For Registering Your Business With MSME?

MSME stands for micro, small and medium enterprises are the engine of economic growth. The government of India offers numerous benefits and some schemes to promote and support MSMEs. Every small or medium sized business should be registered with MSME under MSMED act.

If a business is registered under MSMED act, it can easily get special benefits and schemes with some incentives from the government of India. You can get MSME registration in Delhi to make your business successful and get numerous benefits such tax relief, quick loans, low interest of rate, etc. from the government.

Here are some documents required for MSME registration.

1.      Business address proof

To get MSME registration, business address proof is required. If the premise is self – owned, then you need allotment letter, possession letter, lease deed, or property tax receipt. If you have rented property, then you need rent receipt, and no objection certificate from the landlord.

2.      Copies of sale bill and purchase bill

Every business has a sale and purchase of each and every product and the copy of those bills is required while getting MSME registration. The sale bill and purchase bill have to be submitted to the government.

3.      Partnership deed

If a business is a partnership firm, then the partnership deed has to be submitted. In case of a company, copy of memorandum of association (MOA) and article of association (AOA) as well as a certificate of incorporation has to be submitted.

4.      Copy of licenses and bills of machinery purchased

In some cases, the applicant has to submit a photocopy of industrial license that  should  be obtained by giving an application to govt. of India. All  the bills related to purchase of plant and machinery that should be safe and submitted on demand.

So, these are the documents required for MSME registration. If you also want to register your business with MSME, then you can approach Tax Home. Tax Home is the leading service provider of One person, company registration, MSME registration, SSI registration, GST registration and etc. The professionals at Tax Home will help you to register your business with MSME in a very quick manner. So, consult Tax Home and get many benefits by registering your business with MSME.

What are the hidden advantages of One Person Company?

One person company is a new type of business entity that allows a single entrepreneur to operate a corporate entity with liability protection. To let you know more about the one person company, I am going to share the hidden advantages of One Person Company.

The concept of one Person Company in India was introduced through the companies act, 2013. The concept was launched to support entrepreneurs. It is a separate legal entity from its promoter, offering limited liability protection to its sole shareholder. Now, let’s review the hidden advantages of OPC.

Let’s elaborate the hidden advantages of One Person Company.

1.    Easy to manage

One person company is easy to manage, there is no requirement to hold annual or extraordinary general meetings. Only the resolution shall be communicated by the member of the company and entered in the minute book.

2.    Tax flexibility and savings

It is possible for a company to make a valid contract with its shareholder and directors. This  means as a director, you can receive remuneration, as a lessor you can receive rent, as a creditor you can lend cash to your personal business enterprise and earn interest. Directors’ remuneration, rent and interest are deductible fees which reduces the profitability of the enterprise and in the end brings down taxable earnings of your enterprise.

3.    Easy to get loans from banks

Banking and financial establishments opt to lend money to the company as opposed to proprietary companies. In maximum of the conditions Banks insist the marketers to transform their company right into a personal restrained enterprise earlier than sanctioning price range. So it's far better to register your startup as a One person non-public constrained in preference to proprietary company.

So, these are the hidden advantages of the one person company. If you also want to register with one person company, then you can approach Tax Home, is the market leader of company registration. You can choose One person Company registration in Delhi and MSME registration in Delhi with the help of Tax Home. Approach the professionals and get the best solution for the business related issues. 

Why every business requires a Tax consultant?

A tax consultant is a person who takes care of all taxes and tax issues in your business. The tax consultants or the tax advisors are expert in tax laws, tax planning and tax compliance and cater their services to both businesses and individuals. If you also want to hire a professional tax consultant, then you should know about the tax consultants. Read this blog to get the information about the tax consultants.

The tax consultants are generally from finance or accounting background. They work in public accounting firms, law offices, financial consultancies and insurance. The tax consultants can have their own individual setup. A tax consultant helps you to solve an array of problems for your business and also for your clients. Now, I have some benefits of a tax consultant for the business.  

Why you should have a professional tax consultant.

1.    Save time in Tax returns

This is the biggest benefit of hiring a professional tax consultant for the business.  They help to save time in tax filing and tax return and they have the ability to reduce the taxes and help you to file taxes in a less time.

2.    Planning

The tax consultants work with the advance tax planning and they try to do their best for the business. They resolve the tax issues and try to avoid them and do better for the business.

3.    Accountability

For a tax consultant, accounting is more important in terms of maintaining both client confidence and business accuracy. Tax consultants should be expert in the field of accounting and have a better understanding of financial accounts.

So, these are the benefits of having a professional tax consultant for your business. One of the best and professional tax consultant in Preet Vihar is Tax Home that is the leading service provider of LLP registration, FSSAI registration and ROC filing in Delhi. Please feel free to approach Tax Home and get help to grow your business. They will provide you the best solution for your business related issues and tax issues.

How GST is helpful for your new business? Know its impact on your business?

In this blog, you will read about the GST and how it is helpful for the business and its impact on your new business. Read this blog that makes you clear about the big confusing tax GST.

The GST stands for goods and services tax. It is the biggest indirect tax and it is expected to bring economic integration of the Indian economy. The GST can be the big confusion for many people. But, it helps to streamline the process of indirect taxation and helps to make it easier and more effective. Now, the tax payers have to pay only one consolidated tax

Instead of multiple taxes. It is payable on the actual price paid. GST is considered to benefit all businesses in India. There are many registration companies that help you to register with GST. But, one of the best service providers GST registration in Nirman Vihar is here to help you to register with GST quickly in a less time.

Now, I have some points that tells you the benefits of the GST for your business and its impact on your business.

1.    Ease of starting a business

In an early days, if you are going to start a new business, then first you need to register with the VAT from the sales tax department. A new business has to face  a lot of issues regarding the different features. GST brings uniformity in the process and centralized registration that will make the starting business much simpler and easier.

2.    Simple taxation

A staring business spends a lot of time and energy to manage the various taxes. Different rules and regulations makes the process very complex. GST helps to make this taxation process simpler and also integrates all taxes.

3.    High exemptions to business

GST helps to make the financial limit higher up to Rs. 10 lakh. This helps to bring respite from tax burdens to newly business.

So, these are the benefits of a GST for your start up business. One of the best registration company is Tax Home that is the leading service provider of FSSAI registration, GST registration and MSME registration in Delhi. Please feel free to contact Tax Home and get the best GST registration that is really beneficial for your business.