- Tax
Embrace the ease of stress-free tax submissions.
Our experienced team’s technical knowledge encompasses both national and global law, which helps us offer you comprehensive accounting and tax planning services. We help you face new and complex events. Our extensive data validation checks ensure factual as well as legal precision.
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- Tax
Consolidate all your submitted forms in a single location.
At SetMyCompany, we specialize in handling tax forms for independent contractors, freelancers, startups, e-commerce owners, and service vendors. Our goal is to provide a seamless and stress-free experience, taking care of all the necessary preparations and filings so that you can focus on your work with peace of mind.
ITR 1
For Resident Individuals having total income upto Rs 50 Lakhs having income from Salaries, House Property and Other Sources and Agriculture Income upto Rs. 5000/-
ITR 2
ITR Form 2 is for Individuals and HUF receiving income other than income from “Profits and Gains from Business or Profession”. Thus persons having income from the following sources are eligible to file Form ITR 2 : Income from salary / pension ( more than 50lakhs)/Income from more than one house property/Income from Capital gain/NRI & RNOR/Foreign Income.
ITR 3
For Individuals/HUFs having income from Business/Profession
ITR 4
For Resident Individuals/HUFs/Firms (Other than LLP) having income from Business/Profession computed u/s 44AD, 44ADA, 44AE (Total Income upto Rs 50 Lakhs)
What Infometion needs to be provided in the tax returans?
- General Information
Taxes
- PAN Number
- Passport Number
- Aadhaar Number, only if Resident
- E-mail Address & Mobile no.
- Residential Address in India / Abroad
Did You Know?
With rapid adoption of digitized processes, ITR filing procedures have become easier and efficient without any hassle. Amid the growing regulatory and business complexities, Alankit helps you optimize taxes by rendering professional e-filing services for income tax returns through an easy, convenient, and secure scheme. Alankit Management Consultancy brings in the use of advanced technology to cater to the needs of NRIs, thus making online filing of income tax returns of the taxpayers easy.
NRIs whose income exceeds INR 250,000/- during the last Financial Year are required to file an Income Tax Return in India.
No, having an Indian shareholder is not mandatory for foreign entrepreneurs starting a company in India. The Indian laws allow 100% Foreign Direct Investment (FDI) in many sectors under the Automatic Route, meaning foreign nationals or entities can own and control a company in India without requiring an Indian partner. However, certain sectors may have FDI caps or require prior government approval, which might influence the company's ownership structure.
Yes, as per Indian company law, at least one director of the company must be a resident of India. It is important to note that the Director need not be a citizen/origin of India, just residence in India is sufficient.
A resident director is someone who has stayed in India for a total period of not less than 182 days in the previous calendar year. This is crucial for compliance and to ensure the company has a local representative familiar with Indian regulations.
PAN stands a for Permanent Account Number. It is a tax id issued by Govt of India and forms base for many Government applications. However, Foreign nationals can be directors or shareholders in an Indian company even if they do not have a PAN in India. However, they must obtain a PAN if they are to receive any income from the company, as it is required for tax purposes.
Yes, foreign entrepreneurs can own 100% of a company in many sectors in India under the Automatic Route, without needing prior approval from the government. However, some sectors, such as defense, media, and insurance, have foreign ownership caps or require government approval. It's important to consult the latest Foreign Direct Investment (FDI) policy for sector-specific restrictions.
Repatriation of profits can be done through dividends, subject to compliance with the Companies Act and tax laws. Dividends can be repatriated after paying the Dividend Distribution Tax (DDT), if applicable, and ensuring all compliance certificates are in place. It's also essential to follow RBI guidelines and use the proper banking channels for repatriation.
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