Income Tax is the tax paid on income incurred by an individual. Every person who has any source of income in India is taxable under the Income Tax Act. Income tax return filing is the process where assessee has to pay his income tax by filing Income Tax Return to the Income Tax Department on or before due dates. Department extends the due date sometimes, for instance, for the FY 2018-19 due date for individuals was extended for one month from 31 st July 2019 to 31 st August 2019. As per Income Tax Act , Income Tax Return filing is done in every year whether be it individual or business and income can be in any source such as salary, pension, investment income, any prize money earned in any game show, etc. This blog consists of tips for a better understanding of Income Tax Return filing. Income Tax Slab for FY 2019-20 Following Income Tax Slab varies as per the status of taxpayers such as whether it is an individual or company, and it also depends upon the a

Sole Proprietorship Registration is a straightforward process as it does not involve any formal or government procedures. It is one of the most opted forms of business establishments in India. Furthermore, when a single person opens a proprietor firm, then it is called a Sole Proprietorship. Moreover, you can validate your Sole Proprietorship firm by taking government licenses based on the type of business you are running. What to know more about Sole Proprietorship Registration ? Keep reading this blog to know more about Sole Proprietorship firm and how to register one for you. About Sole proprietorship firms When a person solely runs a proprietor firm, then that type of firm is called a sole proprietorship firm. Also, this type of business has the minimum compliance and another requirement along with least registration fees. However, there is no formal way of registering a Sole Proprietorship firm. Thus, you can obtain other government licenses and authorizations to prov

With a perspective to provide a genuine identity to the exporters in our country, the Government of India has established an organisation called FIEO abbreviated as Federation of Indian Export Organization. It is the organisation which represents the interest of the government recognised exporting firms such as Export House, Star Export House, Trading House etc. The organisation is not only involved in promoting the export of merchandise, but it also promotes the export of services. FIEO Registration is the mandatory requirement for every exporter in our country through which they can start and continue their international trading. Here we will have a look at the entire procedure for the FIEO Registration. What is FIEO? Federation of Indian Export Organization popularly known as FIEO was established in the year 1965 by the joint collaboration of Ministry of trade and commerce and Private Trade and Industry. It is the apex body of the commodity boards, export promotion counc

Food License is a type of license which has to be obtained by every person who is involved in any food-related business. In other words, in India, if you wish to start any kind of food-related business, you need to have a relevant Food License. Therefore, the Food Safety and Standardization Authority of India or FSSAI is constantly working to provide licenses to individuals who want to become a Food Business Operators. Additionally, the authority also lays down guidelines, regulates and supervises, the food business sector in India. Types of FSSAI Food License Basically, there are two types of food licenses in India. One of them is the FSSAI Registration, and the other is the FSSAI License . But, the FSSAI Basic Registration needs to be obtained by small Food Business Operators having a turnover up to Rs. 12 Lakhs. On the contrary, the FBOs having a turnover which is more than Rs. 12 lakhs need to obtain FSSAI License. Furthermore, the FSSAI License is further divided into two