Kumar Pankaj & Associates

"Value Added Tax" (VAT)is a tax on value addition and a multi point tax, which is levied at every stage of sale. It is collected at the stage of manufacture/resale and contemplates rebating of tax paid on inputs and purchases.

Procedure of registration if required:-

• If turnover exceeds Rs10 lakhs in the Year preceding this act or Current year.
• Liable to pay tax or is registered under CST act , 1956.
• Dealer who imports taxable goods for selling any goods into Delhi ,
• Indirect Tax Advisory
• Rendering assistance in registration under VAT.
• Assistance in claiming input tax credit.
• Assistance in furnishing tax returns and claiming refunds.
• Advice on the legal aspects of VAT.
• Rendering advice on the wide range of issues in relation to tax invoices and retails invoices.
• Internal Audit and Compliance Reviews.
• Helping with audit of accounts necessary for a registered dealer.
• Representation for Assessments and other proceedings.

M P SHAU & CO. is a leader in delivering the benefits that successful organizations need today in an
audit, tax and advisory firm.

We provide wide range of audit services to include:

• Statutory Auditing
• Internal & Management Audits
• Tax Audits
• Internal Control Review
• Due-diligence & Investigation
• Bank Audit
• System Audit
• Concurrent Audit

• A person cannot be an apprentice in any designated trade unless 
• He is not more than 14 years of age; 
• He satisfies such standard of education 
• And physical fitness as 
• May be prescribed. 

• name of the firm
• place or principal place of business
• names of any other places where the firm carries on business.
• date on which each partner joined the firm
• name in full and permanent address of partners.
• duration of the firm
• Application shall be signed and verified by all the partners or their duly authorized agents.
• Name of the firm should not contain any words which may express or imply the approval or patronage of the government except where the government has given its written consent for the use of such words as part of the firms name.
• Under Section 59 of the Act, when the Registrar of Firms is satisfied that the provisions of section 58 have been duly complied with, he shall record an entry of the statement in the Register of Firms and issue a Certificate of Registration.
• Penalty for furnishing false particulars (Section 70)
• Any alterations, subsequent to Registration shall be notified to the registrar:-
• Change in the name and permanent address of any partner (Section 62)
• When any partner in a registered firm alters his name or permanent address, an intimation of the alteration may be sent by any partner or agent of the firm to the Registrar
• Change in the constitution of the firm and its dissolution [Section 63(1)]
• Under Section 63(2), when a minor who has been admitted to the benefits of partnership in a firm attains majority and elects to become or not to become a partner, he or his agent specially authorized in this behalf, may give notice to the Registrar that he has or has not become a partner.
• Accordingly, the various forms prescribed under the Indian Partnership Act, 1932, for the alterations in the registered partnership firm are:-
• a. Form No. II :- For change of principle place of business & change in the name of the firm.
• b. Form No. III :- For change of the other then principle place of business.
• c. Form No. IV :- For change of name of the partners & permanent address of the partners.
• d. Form No. V :- For change of constitution of forms & addition or retirement of partner.
• e. Form No.VI :- For dissolution of the firm
• f. Form No. VII :- For minor partner attains the age of majority.
• Partnership Act, 1932 does not provide for compulsory registration of firms. It is optional for partners to set the firm registered and there are no penalties for non-registration.
• However, Section 69 of the Act which deals with the effects of non-registration denies certain rights to an unregistered firm. Under the Act :-
• However, non-registration of a Partnership firm shall not affect:-
• The rights of third parties to sue the firm and/or its partners.
• The firms or partners in the firms which have no place of business in the territories to which this Act extends, or whose places of business in the said territories are situated in areas to which the act does not apply.
• The powers of an official assignee, receiver or Court under the Presidency-towns Insolvency Act, 1909 (3 of 1909), or the Provincial Insolvency Act, 1920 (5 of 1920), to realise the property of an insolvent partner.
• Rectification of mistakes (Section 64 of the Act)
• Inspection of Register and filed documents (Section 66 of the Act:)

What is a Digital Signature Certificate (DSC)?

The Information Technology Act, 2000 provides for use of Digital Signatures on the documents submitted in electronic form in order to ensure the security and authenticity of the documents filed electronically. This is the only secure and authentic way that a document can be submitted electronically. As such, all filings done by the companies under MCA21 e-Governance programme are required to be filed with the use of Digital Signatures by the person authorised to sign the documents.

Legal Warning:

You can use only the valid Digital Signatures issued to you. It is illegal to use Digital Signatures of anybody other than the one to whom it is issued.

Certification Agencies:

Certification Agencies are appointed by the office of the Controller of Certification Agencies (CCA) under the provisions of IT Act, 2000. There are a total of seven Certification Agencies authorised by the CCA to issue the Digital Signature Certificates (DSCs). The details of these Certification Agencies are available on the portal of the Ministry

Class of DSCs:

The Ministry of Corporate Affairs has stipulated a Class-II or above category certificate for e-filings under MCA21. A person who already has the specified DSC for any other application can use the same for filings under MCA21 and is not required to obtain a fresh DSC. 

Validity of Digital Signatures:

The DSCs are typically issued with one year validity and two year validity. These are renewable on expiry of the period of initial issue.

Costing/ Pricing of Digital Signatures:

It includes the cost of medium (a UBS token which is a one time cost), the cost of issuance of DSC and the renewal cost after the period of validity. The company representatives and professionals required to obtain DSCs are free to procure the same from any one of the approved Certification Agencies as per the web site. The issuance costs in respect of each Agency vary and are market driven.

However, for the guidance of stakeholders, the Ministry has obtained the costs of issuance of DSCs at the consumer end from the Certification Agencies. 

In India non profit / public charitable organizations can be registered as trusts, societies, or a private limited non profit company, under section-25 companies. Non-profit organizations in India (a) exist independently of the state; (b) are self-governed by a board of trustees or ‘managing committee’/ governing council, comprising individuals who generally serve in a fiduciary capacity; (c) produce benefits for others, generally outside the membership of the organization; and (d), are ‘non-profit-making’, in as much as they are prohibited from distributing a monetary residual to their own members.

which is applicable uniformly throughout the Republic of India – defines ‘charitable purpose’ to include ‘relief of the poor, education, medical relief and the advancement of any other object of general public utility’. 

Formation and Registration of a Non -Profit organisations in India

1) Trust 
2) Society 
3) Section-25 Company
Additional Licensing/ Registration