Registrations

A Permanent Account Number (PAN) is a unique identifying number given to individuals, organisations, and entities for tax reasons. It is required for a variety of financial transactions, including submitting income tax returns, creating bank accounts, and performing commercial operations. To obtain a PAN, apply online at the Income Tax Department’s website or through authorised PAN service providers.

A Tax Deduction Account Number (TAN) is required to deduct and remit tax at source. Businesses and people responsible for deducting taxes at the source must get a TAN. The application for TAN can be filed online on the NSDL-TIN website or at authorised TIN facilitation centres.

GST registration documents comprise proof of business ownership, promoters’ identity and address proofs, bank account information, and business registration documents. Being GST compliant allows for frictionless interstate trade, the ability to collect input tax credits, increased corporate legitimacy, and conformity with tax legislation.

An Import Export identifier (IEC) is a unique 10-digit identifier issued by the Directorate General of Foreign Trade (DGFT) that is required for importing or exporting products and services from India. It is required to clear customs and receive certain government perks. The IEC application can be submitted online through the DGFT’s e-commerce platform.

The Shops and Establishments Act governs the working conditions of employees in shops and commercial establishments. It addresses issues such as working hours, holidays, pay, and job conditions. All firms operating in India must comply with the Shops Act to protect employee welfare and rights.

The Income Tax Department issues a Lower Tax Deduction at Source (TDS) Certificate to reduce the rate of tax deduction at source for certain incomes, such as interest, rent, or contractor payments. It is required when the taxpayer believes the regular TDS rate exceeds their actual tax burden.

A Tax Residency Certificate (TRC) is provided by a country’s tax authorities to validate a taxpayer’s residency status in order to qualify for benefits under Double Taxation Avoidance Agreements (DTAA). The TRC can be obtained by submitting the necessary paperwork and petitions to the tax authorities of the respective country.

Registration under the MSME Act is voluntary, although it provides a variety of benefits, including access to government initiatives, subsidies, and preferential procurement treatment. The registration process include submitting all required paperwork, including proof of business ownership, to the appropriate authorities.

A Trade License is a permit issued by a local municipal government, in this case the Bangalore Municipality, that authorises a business to engage in particular trade or commercial activities within its jurisdiction. It guarantees that enterprises follow local regulations, health and safety guidelines, and zoning restrictions.

Employers with a particular number of employees must register for the EPF and ESI schemes in order to provide social security benefits to their employees. The registration process entails providing employee information, contributing to the appropriate funds, and meeting periodic reporting and payment requirements.