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As per the income tax law, salaried person is required to file income tax return if total gross income exceeds the basic exemption limit. Every salaried person must file even those one whose annual income is under the taxable limit. Income tax department has categorized the taxpayers into different groups based on their salary, income or its source. ITR form-1 is for the people who are earning up to 50 lakhs from other sources such as pension, one house property, lottery etc. Form includes all the details related to total gross income, Deductions and taxable income, computation of tax and tax status. Taxpayers can submit ITR-1 Form either online or offline. However, few changes occurred from the financial year 2013-14, where income is more than Rs. 5 lakhs, they must furnish their income tax returns electronically.
The exempted income exempt incomes are agricultural income, LIC Maturity amount as per section 10 (10D) and Long-term capital gain on listed shares and securities as per section 10(38). ITR filing by salaried persons help them being honest taxpayers but also helps in availing loans, travelling abroad. This also helps as a proof of income required, claiming refund and possible to access many financial assistances such as bank credits, etc.
The LPP stands for Limited Liability Partnership it is a better version of a general partnership firm. It is governed by limited liability partnership act 2008.
Minimun 2 Partners are required to start a LPP. There are no limit on the mximum number of in a LPP.
Unilike a private ltd company no minimum capital required to start a LPP.
A legal proof of LPP is certificate incorporation as well as LPP agreement.
LPP agreement is similar to a partnership deed where all the rights, liabilities and share of profit and loss are mentioned/drafted.
Name allotment as desired by you is wholly a discretionary power of ROC. Normally ROC is allot your desired business name if it is unique and not resemblinding with any existing company/LPP.
Yes, DSC of an authorised director is required while in corporating an LPP.
Yes, Charted Help is an online platform serving all over india no matter wherever you are doing your business all you need is internet connection on your mobile or desktop and we are ready to get your done.
No, You don't need to be a physically present for the process.E-startupindia is an online catering platform all you need is internet connection in your phone/desktop and required document with and we can get the job done no matters even you are present at remotest location of the india.