Business Registrations

Registrations

Tax is levied by the Government of India on the income of every person. The provisions governing the Income-tax are covered in the Income-tax Act, 1961. Income-tax is levied on the annual income of a person. The year considered under the Income-tax Law is the period starting from 1st April and ending on 31st March of next calendar year.
Permanent Account Number (PAN)
A ten-digit alphanumeric identification number allotted to every taxpayer. Mandatory to quote PAN on return of income and other important financial transactions.
Tax Deduction Account Number (TAN)
A 10-digit alphanumeric number required for all persons responsible for deducting or collecting tax. Mandatory to quote TAN on all TDS returns under Section 203A of the Income Tax Act, 1961.
Lower Tax (TDS) Certificate
When estimated tax liability is lower than the TDS amount, taxpayers can apply for a certificate directing TDS deductor to deduct tax at a lower/nil rate than the prescribed rate.
Tax Residency Certificate
Resident taxpayers can file Form 10FA to the Assessing Officer for obtaining a TRC in India. The AO issues the TRC in Form 10FB after verifying the submitted documents.

Other Business Registrations

Shops & Establishments Act
A mandatory registration for all commercial establishments, shops, and offices. Regulates working conditions, hours of employment, and other related matters.
MSME Registration
Registration for Micro, Small, and Medium Enterprises to avail various government benefits, schemes, and subsidies designed to promote small businesses.
Professional Tax
A state-imposed tax on professions, trades, and employments. Employers are responsible for deducting and remitting professional tax for their employees.
Employee Provident Fund (EPF)
Mandatory retirement benefit scheme for organizations with 20 or more employees. Both employer and employee contribute to the fund for the employee's future security.
Employee State Insurance (ESI)
A self-financing social security and health insurance scheme for Indian workers. Provides medical benefits and various other benefits to employees.
STPI and Non-STPI Registration
Software Technology Parks of India (STPI) registration for IT/ITES companies. Provides various benefits including tax incentives and single-window clearance.
Import Export Code (IEC)
A mandatory 10-digit code required for importing and exporting goods from India. Issued by the Director General of Foreign Trade (DGFT).
Trade License (Bangalore Municipality)
Local municipal license required to operate a business within Bangalore city limits. Ensures compliance with local regulations and safety standards.
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