IMCS corporate services

Taxes in India

In India, both central and state governments impose taxes on income, goods and services, property, and assets. Key tax categories comprise.

Income Tax: a tax on individuals' and entities' income earned during a financial year.

Corporate Tax: a tax on the profits earned by companies.

Goods and Services Tax (GST): a consumption-based tax on goods and services.

Value Added Tax (VAT): a tax on the value added to goods and services during production or distribution.

Customs duty: a tax on goods imported into India.

Excise duty: a tax on certain goods produced within India.

Property Tax: a tax on the ownership or possession of property.

Securities Transaction Tax (STT): a tax on the value of securities traded on stock exchanges.

Wealth Tax: a tax on the wealth of individuals and entities above a certain threshold.

These taxes are collected by the Central Board of Direct Taxes (CBDT) and state tax departments, and used to fund government services and programs.

GST Registration

Goods and Services Tax (GST) registration is a process by which businesses register with the Indian government to become a GST-compliant taxpayer.

Documents Required

For Sole Proprietorship / Individual

Aadhaar card, PAN card, and a photograph of the sole proprietor
Details of Bank account- Bank statement or a canceled cheque
Office address proof:
1) Own office – Copy of electricity bill/water bill/landline bill/ property tax receipt/a copy of municipal khata.
2) Rented office – Rent agreement and NOC (No objection certificate)

Partnership deed/LLP Agreement

Aadhaar card, PAN card, Photograph of all partners.
Details of Bank such as a copy of canceled cheque or bank statement
Proof of address of Principal place of business and additional place of business :
1) Own office – Copy of electricity bill/water bill/landline bill/ a copy of municipal Khata/property tax receipt
2)Rented office – Rent agreement and NOC (No objection certificate) from the owner.
In case of LLP- Registration Certificate of the LLP, Copy of board resolution) from the owner

Private limited/Public limited/One person company

Company’s PAN card
Certificate of Registration
MOA (Memorandum of Association) /AOA (Articles of Association)
Aadhar card, PAN card, a photograph of all Directors
Details of Bank- bank statement or a canceled cheque
Proof of Address of Principal place of business and additional place of business:-
1)Own office – Copy of electricity bill/water bill/landline bill/ a copy of municipal khata/ property tax receipt
2)Rented office – Rent agreement and NOC (No objection certificate) from the owner.
Appointment Proof of authorized signatory- letter of authorization

HUF

A copy of PAN card of HUF
Aadhar card of Karta
Photograph
Proof of Address of Principal place of business and additional place of business:
1)Own office – Copy of electricity bill/water bill/landline bill/ a copy of municipal khata/ property tax receipt
2)Rented office – Rent agreement and NOC (No objection certificate) from the owner.
Details of Bank- bank statement or a copy of a canceled cheque

Society or Trust or Club

Pan Card of society/Club/Trust
Certificate of Registration
PAN Card and Photo of Promotor/ Partners
Details of Bank- a copy of canceled cheque or bank statement
Proof of Address of registered office :br> 1)Own office – Copy of electricity bill/water bill/landline bill/ a copy of municipal khata/ property tax receipt
2)Rented office – Rent agreement and NOC (No objection certificate) from the owner.
Appointment Proof of authorized signatory- letter of authorization

GST Services

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