Tax Consultancy Service Kolkata
The expert team of consultants at DCS provides you the best possible business solutions which suit your needs the best. We assure quality services and opinions matching your queries.
Set Up Counseling
At DCS we help you know the best form of business as per your requirements. We help you with the entire set up consultancy and counseling throwing light on all the possible options for you. We befriend you in the initial days of insecurity of your business
Business Model Designing
The expert consultants design the apt business model depending on your area and size of operation. As per your requirements, you will be given the perfect idea of the most appropriate business form and model tailored specifically for your need.
Opinions on Tax Compliances and Registrations
In the current complex tax regime it is getting difficult to understand if any particular tax is leviable on your nature of business. But for you, the complexity ends as soon as you come to us. We define necessary compliances for your newly set up business and guide you the right path of tax.
Frequently Asked Questions
What are the various types of business organizations that can formed in India?
- Company
- Limited Liability Partnership
- Partnership
- Sole Proprietorship
What is the expected time that is required to establish business in India?
Generally the time required to establish your business depends upon the form of organization and nature of business. Keeping in view, Company form of business, it would take around 15-20 days to establish business excluding the time taken for preparing and signing the documents
What are the basic tax numbers that are generally required to for every business?
In India, basically there are two types of tax numbers, which are outlined below:
- General Tax Numbers: Tax Numbers like PAN & TAN are generally required to be obtained by all types of business.
- Specific Registration: These registration are required based on the nature of business carried by the organization for in case of business of trading, Value Added Tax number will be required subject to fulfillment of certain conditions .
What are tax numbers that are based on the nature of the business?
Following tax numbers are required based on the nature of the business:
- Service Tax Number: For providing specified taxable services.
- Value Added Tax Number: For making sales within particular state.
- Central Sales Tax Number: For making inter-state sale of goods.
- Excise Duty Number: For manufacturing excisable goods.
- Import & Export Number (IEC): For effecting import and export of goods and services.
It is necessary for all the businesses carrying any of the aforesaid activity, to procure this number; it has to satisfy other eligibility criteria.
Which form of business is more regulated?
In India, Company is the form of business that is highly regulated. Companies are governed by Companies Act 2013, which has more than 600 sections.
Which form of business is easy to close?
Partnership and Sole Proprietorship forms of business are the least regulated form of business and therefore it is most easy to close them. The closing does not involve the permission of any judicial authority like High Court.
Which form of business is suitable for carrying operations on medium or large scale?
Company is the most recommended form of organization for carrying business on medium or large scale due to the following:
- Highly recognized form of business
- Large sources of funds raising.
- Recognized by Financial Institutions and Investors for lending.
- Regulated form of business
How many types of Companies can be incorporated in India?
- Private Limited Company
- One Person Company
- Public Limited Company
- Section 8 Companies
What are the advantages of a Company?
- Liability of the shareholders is limited to the extent of face value of shares held by them. Thus the investors have a sense of security while investing.
- The management hierarchy of a Company is very clearly defined. Hence it becomes easy to appoint, retire or remove directors.
- There are more regulations governing this form of business than the others. Hence, there is more public confidence.
- A Company enjoys high credibility as the books of accounts and other documents are available for public vigilance.
- The winding up of the Company is also regulated by law. Hence, it becomes easy to dispose off this form of business.
- The status of this form of business is comparatively higher compared to the other forms of business.
- A company has a distinct entity from its owners. Hence it can sue or can be sued in its own name.
What is a Private Limited Company?
A Private Limited Company is a company limited by shares. The Companies Act, 2013 requires the minimum paid up capital of Rs. 100000/- for a Private Limited Company and also imposes a certain restrictions such as:
- restricts the right to transfer its shares
- except in case of One Person Company, limits the number of its members to 200
- Public Limited Company
- prohibits any invitation to the public to subscribe for any securities of the company
What is a One Person Company?
The concept of One Person Company (OPC), is a new form of company introduced by the Companies Act, 2013 which enables the entrepreneur working as a Sole Proprietor enter the Corporate Framework. It combines the benefit of both Sole Proprietorship and Company form of businesses.
What is a Public Limited Company?
A Public Limited Company is limited by shares with no restriction on the maximum number of shareholders, transfer of shares and acceptance of public deposits. The shareholders liability is limited to the extent of the unpaid amount of the face value of shares and the premium thereon in respect to shares held by a shareholder. It should have a minimum paid up share capital of five lakh rupees.
What are Section 8 Companies?
Section 8 Companies are the charitable organizations registered in the form of Companies.
What is the minimum number of shareholders?
- Private Company: 2
- Public Company: 7
- OPC: 1