Author: nilkanthadvisory.com

In today's competitive business landscape, it is crucial for small and medium-sized enterprises (SMEs) to leverage government initiatives that streamline operations, offer benefits, and provide formal recognition. One such initiative by the Government of India is Udyog Aadhar registration, now known as Udyam registration. This initiative is designed to support the growth and development of micro, small, and medium enterprises (MSMEs) nationwide. Udyam Registration also referred to as MSME Registration, is the updated process for registering MSMEs introduced by the Ministry of Micro, Small & Medium Enterprises on July 1, 2020. Alongside this new registration process, the Ministry also updated the MSME classification criteria. nilkanth advisory is your trusted partner when it comes to simplifying the Udyam Aadhaar registration process. Our dedicated team of experts is well-versed in the intricacies of the Udyam registration online process and can help your business secure its Udyam Certificate and Registration Number swiftly and seamlessly.  What is Udyam Registration? Udyam Registration is an official process initiated by the Ministry of Micro, Small, and Medium Enterprises (MSMEs), Government of India, for the formal registration of micro, small, and medium enterprises (MSMEs). Introduced on July 1, 2020, it replaced the earlier Udyog Aadhar Memorandum (UAM) system. The Udyog Aadhar/Udyam registration is designed to classify enterprises based on their investment and turnover. As per the new classification metrics, all Micro, Small, and Medium Enterprises (MSMEs) in India are collectively known as MSME. Entrepreneurs can apply for MSME Udyam Registration online, and upon successful completion, the enterprise is assigned a permanent Udyam Registration Number and receives an e-certificate known as the Udyam Registration Certificate. This online, self-declaration-based process aims to streamline access to government benefits. MSME Udyam Registration Benefits Benefits of having a Udyam Registration Number for your business include: Special Preference in Government Tenders: Registered Udyam enterprises receive…

Tax Deduction Account Number (TAN) is a unique 10 digit alphanumeric code allotted by the Income Tax Department to all those persons who are required to deduct tax at the source of income. It is mandatory to quote TAN on all TDS (Tax Deduction at Source) returns (including e-TDS return) or any TDS payment challan. Who is required to apply for TAN? Every person who is required to deduct tax at source (TDS) is required to have TAN. Similar to PAN, TAN is a 10-digit alphanumeric number assigned to a tax deductor and collector. The income tax department will issue this number to the person making an application for it Persons authorised to make credit card / debit card / net banking payment for other categories are as below: Category of applicantAuthorized personCompany/Branch/Division of a companyAny Director of the CompanyIndividual (Sole Proprietorship) / Branch of Individual BusinessSelfHindu Undivided Family (HUF)KartaFirm / Branch of FirmAny partner of the firmAssociation of Persons/Body of Individuals/ Association of Persons (Trusts)/Artificial Juridical PersonAuthorised signatory covered under section 140 of Income Tax Act, 1961

Sale deed is a legally binding document specifically made to transfer the right, title and ownership of immovable property from one person to another in exchange for a price.Sale deed is implemented by Registration Act of India. A sale deed is considered to be valid only when it is signed by both the seller and the buyer and both the parties has to comply with the terms and conditions mentioned in the sale deed. A sale deed needs to be registered under The Registration Act, 1908 within four months from the date of execution.The registration is done by the Sub Registrar of Assurances of the jurisdiction, where the property is purchased. MEANING OF TERMS INVOLVED IN A SALE DEED Seller/Transferor Seller is a person who has current ownership of the property and is willing to sell his property for a price. Buyer/Purchaser/Transferee Buyer or purchaser or transferee is a person who is willing to buy the property. Witness Witness is a person who signs on the sales deed acknowledging to the fact that the buyer and seller have signed the sale deed in front of him. Stamp duty A duty levied on the legal recognition of certain documents by the government.It is a kind of property tax which needs to be paid to the government while a property is being sold.It is calculated on the market value or the agreement value whichever is higher and stamp duty charges vary from state to state. Registration Fee The registration fee is additional to the stamp duty charges. Registration fee needs to be paid to get the property transferred and registered in your name. The fee is either 1% of the market value or the agreement value, whichever is higher, however, subject to a maximum amount of Rs. 30,000. This fee is different…