1. Business Registration and Licensing

• Description: Assistance with obtaining necessary registrations, including a Shop and Establishment license or other local trade licenses as required by the state or municipality. While a sole proprietorship does not require formal company registration, these licenses are essential for compliance.
• Benefits: Provides legal recognition to the business, ensuring it meets local operating standards and avoids potential penalties.

Key Services: – Guidance on required licenses based on the nature and location of the business – Assistance with obtaining a Shop and Establishment license, trade license, or other applicable licenses – Support with documentation and form submission to local authorities

2. GST Registration and Compliance

• Description: Assistance with Goods and Services Tax (GST) registration for businesses with a turnover exceeding the GST threshold or those dealing in interstate transactions. Ongoing GST compliance, including regular filing of returns, is also offered as part of the service.
• Benefits: Ensures the sole proprietorship complies with GST regulations, allowing it to issue GST invoices and claim input tax credits, enhancing business credibility.

Key Services: – GST registration assistance and documentation support – Monthly, quarterly, and annual GST return filing – Advisory on GST compliance, input tax credits, and managing GST liabilities

3. PAN and TAN Application

• Description: Assistance with obtaining a Permanent Account Number (PAN) for the sole proprietorship and a Tax Deduction and Collection Account Number (TAN) if the business is required to deduct TDS.
• Benefits: Helps the sole proprietor stay compliant with income tax requirements and enables them to deduct TDS for payments made to vendors, contractors, or employees.

Key Services: – PAN application process for the business owner or sole proprietorship – TAN application assistance if the business requires TDS compliance – Delivery of PAN and TAN documents for business tax filings

4. Accounting and Bookkeeping Services

• Description: Ongoing accounting and bookkeeping support to help the business track expenses, income, and profits. This includes maintaining ledgers, preparing monthly statements, and managing receipts and invoices.
• Benefits: Provides accurate financial records, supporting better financial management and simplifying the tax filing process.

Key Services: – Daily bookkeeping and ledger maintenance – Preparation of financial statements, including income statements and balance sheets – Monthly and annual expense and revenue reports to track business performance

5. Income Tax Filing and Compliance

• Description: Preparation and filing of the annual income tax return for the sole proprietor, as business income is reported as part of the individual’s tax filing. This service includes tax calculation, deduction advisory, and ensuring timely submission to avoid penalties.
• Benefits: Ensures the sole proprietor complies with income tax laws, minimizes tax liability through deductions, and avoids late-filing penalties.

Key Services: – Income tax calculation and preparation based on business income and expenses – Filing of individual tax returns, including business income and deductions – Advisory on deductions and exemptions to reduce tax liability

6. MSME (Udyam) Registration

• Description: Support for obtaining MSME (Micro, Small, and Medium Enterprises) or Udyam Registration, which provides benefits like easier access to loans, subsidies, and other government incentives aimed at supporting small businesses.
• Benefits: Provides access to government schemes, subsidies, and potential tax benefits, along with improved credibility with clients and suppliers.

Key Services: – Udyam Registration application process and documentation – Assistance with obtaining MSME certificate and updates on MSME schemes – Advisory on potential benefits and incentives available to registered MSMEs

7. Business Bank Account Setup

• Description: Guidance and assistance with opening a current bank account in the name of the sole proprietorship, which requires certain documents, such as business licenses, GST registration, and MSME registration.
• Benefits: Keeps personal and business finances separate, facilitating better financial management, expense tracking, and professionalism with clients and vendors.

Key Services: – Preparation of required documents for business bank account opening – Guidance on choosing the right banking partner for business needs – Assistance with completing the bank’s KYC and account-opening process

8. Compliance with Professional Tax and Other Local Taxes

• Description: Assistance with Professional Tax registration (if applicable) and compliance with other local taxes required in specific states, such as municipal taxes or industry-specific levies.
• Benefits: Ensures the business meets state and local tax obligations, avoiding penalties and legal issues related to non-compliance.

Key Services: – Professional Tax registration and ongoing compliance – Advisory on local taxes applicable to the business type and location – Periodic reminders and support for local tax filing

9. Payroll and Employee Compliance Services

• Description: Support for businesses with employees, covering payroll management, calculation of salaries, TDS deductions, and compliance with statutory requirements, such as Employee Provident Fund (EPF) and Employee State Insurance (ESI).
• Benefits: Ensures timely and accurate payroll processing, enhances employee satisfaction, and ensures compliance with employment laws.

Key Services: – Monthly payroll processing and salary slip generation – TDS and other statutory deductions (EPF, ESI) management – Filing of applicable payroll tax returns and compliance filings

10. Compliance Advisory and Ongoing Support

• Description: Ongoing support and advisory services to keep the sole proprietor updated on changes in tax laws, filing deadlines, and compliance obligations. This includes reminders for important filings and guidance on regulatory changes impacting the business.
• Benefits: Keeps the sole proprietor informed, ensures compliance with evolving regulations, and helps avoid penalties associated with missed deadlines.

Key Services: – Regular reminders for income tax, GST, and other filing deadlines – Advisory on regulatory changes and their impact on the business – Support for ad-hoc compliance needs, such as address changes or business scope updates