Proper cash management starting in 2017, So as to avoid in addition, estimations

According to a new simplified new online GST registration process, individuals have to apply through a reliable GST portal for new GST registration certification in India where individual can avail assistance of professional giving GST service by paying certain online GST registrations fees.

If an individual is successful in availing the benefits offered by the portal then he/she can get the GSTR number as a proof that he/she is eligible to avail new GSTR number or has already availed a GSTR number.

New GSTR numbers are issued to all those individuals who are legally resident in Indian territory and have been in the country for at least 6 months.

Individuals who are required to obtain new GSTR number in India must have some sort of valid income source and must have filed their income tax returns in the last three years.

In case you are an eligible individual to avail of new GSTR number but cannot get it because you cannot find it on your tax returns or if you are not satisfied with the status of your application then the best way to solve your problem is to get a tax advisor and ask him/her to make a new GSTR application for you.

A tax advisor will be able to explain to you the entire process involved and will also be able to make you aware of all the formalities involved.

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Professional Tax is levied by state government on all individuals or business which are rendering professionals services in market.

If you are rendering any kind of services in market you have to take Professionals Tax Registration.

However various state governments has exempted from online Professional Tax Registration.

It is applicable on all kind of trade, profession, employment, freelancers subject to income exceeding the monetary threshold.

Various state governments do not levy Professional Tax on their traders, professionals, employers, freelancers such as Delhi, Haryana, Uttar Pradesh etc.However there are two types of certificate which is required to take by business ownersProfessional Tax Registration Certificate [PTRC]- Any person engaged in Profession, Trade and Callings and falling under one or the other of the classes mentioned in the second column of Schedule I shall obtained PTEC.Professional Tax Enrolment Certificate [PTEC]- Every employer who has employed even a single employee whose salary is above the prescribed limit for deducting Profession Tax shall obtain PTRC.Applicability of Professional TaxSome are the states where Professional Tax Registration in Maharashtra is mandatory such as Maharashtra, West Bengal, Karnataka, Assam etc.

If you are employer and getting some income on regular basis, professional tax registration is mandatory for you.

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Company registration in India begins with the selection of a conducive business structure for the business.

Also, the most important question is how to do online company registration in India?Before starting the main topic let us suggest that if you are in the Yamuna Nagar area and want to register your company then visit the office of company registration in Yamuna Nagar for registration now!Different types of company registration in Indiaprivate Limited companyone person companylimited liability partnershipChoosing the right business structure for company registration in India:When you are going for company registration in Yamuna Nagar or any other place in India it is important to choose your business structure carefully while registering your company.. For example, One Person Company and Private Limited Company have to file annual returns along with income tax returns with the Registrar of Companies.

Hence, it is important to choose the right business structure while thinking of company registration in India.Important things to keep in mind while choosing the right business structure before registering a company in India:Risk: All organizations convey some level of hazard, risk and entrepreneurs will need to pick a design that shields their own resources from business liabilities.Taxation: Another important aspect to consider is taxation.

To help you read further: What is beneficial from the taxation point of view Private Limited, OPC or LLP.Complexity: To choose a business structure, it is important to check the complexity of the process, list of requirements, compliance, etc., before selecting the right structure for registering your company in India suggested by the experts at company registration in Yamuna Nagar.An entrepreneur should have a clear idea of what kind of legal compliance he is prepared to deal with.

For example, an investor may be hesitant to lend money to a sole proprietorship firm.

), investors will be more comfortable investing.Benefits of registering a company in India:The Government's Make in India initiative offers significant opportunities for Indian and foreign investors.It is very easy for foreign nationals to invest directly in Indian companies through an Indian subsidiary.The government is giving incentives to promote investment in Make in India.The “Ease of Doing Business” initiative of the government helps in making India a manufacturing hub.The young and skilled generation helps to run the business and make it a successful enterprise.So now as you all set for company registration one thing you must know about is digital signatures.

What are Mortgage credit certificates?A mortgage lender gives a document to the borrower which converts a portion of the mortgage interest paid by the borrower into a non-refundable tax credit this document is known as a mortgage credit certificate or MCC.A mortgage credit certificate (MCC) program can be used by low- or moderate-income homebuyers to help them purchase a home.Either loan brokers or the lenders themselves can issue, mortgage credit certificates but they are not a loan product.The working of mortgage credit certificatesWhen first-time homebuyers qualify for a home loan a mortgage credit certificate helps them by reducing their tax liabilities below what they would otherwise have to pay.Sometimes the term “mortgage credit certificate” is used to refer to the tax credit that an eligible borrower receives.For a portion of the mortgage interest, they pay each year the borrowers can receive a dollar-for-dollar tax credit.Every year the borrowers can get a maximum tax credit of $2,000.A formula is used to calculate the exact amount of the tax credit a borrower will receive by taking into account the mortgage amount, the mortgage interest rate, and the mortgage credit certificate percentage.Depending on the amount of the original mortgage loan the credit rate percentage is calculated.The process of mortgage credit certificateAfter the purchase, the contract has been signed, but before the time of closing, borrowers apply for mortgage credit certificates with the originating lender.A non-refundable fee is charged for the service of the mortgage certificate program by the party administering it.There is a validity of up to 120 days for the state or local approval and it can be transferred to another property in case the current loan does not close.Homebuyers must qualify for income and purchase price criteria to take advantage of the mortgage credit certificate program.A portion of the monthly mortgage payment can be balanced and saved by reducing the buyer’s federal tax liability, with the help of a mortgage credit certificate and tax breaks.Borrowers now with this reduced tax liability can qualify for a loan during the initial approval process.Once they obtain a mortgage credit certificate, and as long as the borrower remains in the home and occupies it as his principal residence he can take advantage of the tax credit every year.In most cases, the mortgage credit certificate can be reissued if the borrower refinances the loan.How to qualify for a mortgage credit certificate?A borrower must contact an eligible Participating Lender, to see if they are eligible for an MCC.Advantages and disadvantages of mortgage credit certificateLike every program MCC too have there pros and cons.The advantages of MCC are: All the states offer a mortgage credit certificate program.Every state offers a tax credit for first-time homebuyers or people who are purchasing a home in an economically distressed area through access to the federal program.

there is a cap at a maximum of $2,000 for their savings and this credit is available to the homeowner for every year.So a homeowner can save $10,000 on their taxes after spending five years in the home.

If he stays there for 10 years, then the saving is $20,000.

One can still qualify for this program even if they are divorced or are renting out another home.

Till the borrowers, the financial situation can stabilize there may also be opportunities for grants, low-interest loans, or defer payments for a specific period.No need for a perfect credit score to qualify.Most states will let a borrower qualify for a mortgage credit certificate with a credit score of less than 700.

And if a borrower makes more than $86,000 for a family of four, then they may not qualify for a mortgage credit certificate.The property must qualify to specific health and safety stipulations as a mortgage credit certificate is usually treated as a first-time home buyer arrangement program.