Established in the year 2016, we are an emerging chartered accountancy firm based in Bengaluru rendering comprehensive professional services which include audit, management consultancy, tax consultancy, accounting services and secretarial services.

Quote of the Day: "Greatness comes by doing a few small and smart things each and every day... it comes from taking little steps, consistently"

Regulatory Filing Service

EPF Return Filling
Every establishment which is a factory engaged in any industry specified in schedule 1 and in which 20 or more people are employed. Any other establishment employing 20 or more persons which central government may by notification, specify in this behalf. Any establishment employing even less than 20 persons can be covered voluntarily under section 1(4) of the Employees Provident Fund and Miscellaneous Provisions Act, 1952.
The purpose of the scheme is to establish provident funds for the employees covered by the Employees' Provident Funds Act, 1952. As such, the scheme is applicable to the employees of all factories and other establishments covered by the said Act except those exempted under section 17 thereof. All employers having 20 or more employees are required to be registered with Employees Provident Fund (EPF) Corporation. Those entities having EPF Registration must then file EPF returns. EPF returns are due half-yearly. Preetham Shetty and Co. can help file EPF returns for your business. Our EPF experts can also help you compute EPF payments and maintain EPF regulation compliance for your business.
TDS Return Filling
TDS stands for tax deducted at source. This concept was come to in existence for fulfilling the regular revenue inflow of Govt. In TDS scenario, tax is deducted from some specific payments and this deducted tax is deposited subsequently to Govt. on periodical basis. For deducting tax, a person has to obtain TAN or Tax Deduction and Collection Number, a 10-digit alpha number. Individuals who are salaried are not required to obtain TAN or deduct tax at source. However, a proprietorship business (which are required to be tax audited) and other entities (i.e., Private Limited Company, LLP, etc.,) must deduct tax at source while making certain payment like salary, payments to contractor or sub-contractors, payment of rent etc. Those entities have TAN Registration must then file TDS returns. TDS returns are due quarterly. 
Preetham Shetty and Co. can help you file e file your TDS returns online. Our TDS experts can help you compute your TDS payments and e file the TDS return and keep you in compliance with TDS regulations.
FCRA Annual Return Filling
The organizations signed up under the Foreign Contribution Regulation Act need to keep separate accounts incurred under the FC head and send a return in the recommended format to the Ministry together with the audited statement of accounts of the previous year. Every organization which receives foreign contributions is required to furnish a certificate from a chartered accountant. The certificate to be given by the chartered accountant is provided in Form FC-6. Along with this certificate, audited Balance Sheet, Income & Expenditure statement and the statement of receipt and payment account should also be submitted along with Declaration and authentication signed by Chief Functionary.
The return is to be filed for every financial year (1st April to 31st March) within a period of nine months from the closure of the year i.e. by 31st December each year. Submission of a ‘Nil’ return, even if there is no receipt/utilization of foreign contribution during the year, is mandatory. The return is to be submitted, in prescribed Form FC – 6, duly accompanied with the balance sheet and statement of receipt and payment, which is certified by a Chartered Accountant. On the basis of the relevant books and vouchers, the chartered accountant is required to certify the following:
·         the brought forward balance of the foreign contribution at the beginning of the year.
·         the foreign contribution received during the year
·         the unutilized balance of foreign contribution at the end of the year
·   certify that the association has maintained the account of foreign contribution and records relating thereto in the manner specified in the Foreign Contribution (Regulation) Act, 2010.
·      the information furnished in the certificate and in the enclosed balance sheet, income & expenditure statement and statement of receipt and payment are correct.

VAT Return Filling
Value Added Tax (VAT) Registration or TIN Registration is a tax registration required for businesses trading or manufacturing goods and even agency in India. VAT is a multi-stage tax and based on “Value Added Concept”. VAT is collected and governed by the State Government, so each State Government in India has distinct rules applicable for their State based on the type of good manufactured or sold. VAT Registration is mandatory in most states for traders or manufacturers having a turnover of more than Rs.20 lakhs (Rs.10 lakhs earlier) either in current year or in previous year.
Those entities have VAT or TIN Registration must then file VAT returns on time to avoid penalty. VAT is implemented by the State Governments. Hence, the VAT return due date and VAT payment due date differs from state to state. VAT returns are mostly due monthly, quarterly or annually.
Service Tax Return Filing
Service tax is an indirect tax levied on the services provided by a service provider in India to the service receiver. This tax is based on Value Added Concept and Service provider is liable to pay tax only on the value-added amount. Service tax is paid by the end consumer of the service and the service provider is responsible for collection of remittance from the recipient of the taxable service. At present, Service Tax is levied at 14 % on the value of the taxable service.
Persons or entities liable to pay service tax and having service tax registration must file service tax returns in Form ST-3 or Form ST-3A. Service tax returns are due half-yearly and which is compulsory even NIL return must be e filed. Service tax payment must be paid by entity electronically or manually on the respective due date.
Preetham Shetty & Co. can help you file e file your service tax return online. Our service tax experts can help you compute your service tax liability, e file the service tax return and keep you in compliance with service tax regulations. Use Remind Due, an online cloud compliance reminder service from Preetham Shetty & Co. to get reminders for service tax return and service tax payment due dates.
E-Excise Return Filing
In India, an excise or excise duty or central excise tax is described as an indirect tax levied and collected on the goods manufactured in India. Producer or seller who pays the tax to the government is expected to try to recover the tax by raising the price paid by the buyer. So, producer or manufacturer has to file the excise duty return. As per new rules and regulation, manufacturer can file his return of excise duty electronically. This is called e-filing of excise return.
Central excise returns provide details of production, excise duty applicable and paid to Government. It also captures details of credit offset claimed and other related details. This ensures accurate assessment of tax collections. NIL returns are mandatory to be filed as per applicable schedule, even if there is no transaction.
Payment of Central Excise Duty: Central Excise Duty is payable on monthly basis by 5th of following month. Duty can be paid through current account (Personal Ledger Account) or CENVAT Credit. Small Scale units availing exemption are required to pay duty on 15th of month following end of month. Duty is payable electronically or by banking channels through TR-6 Challan. The prescribed Challan form TR-6 should be filled in giving details like name and fifteen digit ECC number of the manufacturer, code number of excise commissioner ate/division/range etc.
Filing of Central Excise Return: The Central excise return shall be filed on or before 10th of next month. In case of dealer, the excise return shall be filed on quarterly basis. Following are the forms and description of returns
·         ER-1: Manufacturer not eligible for SSI Concession
·         ER-2: EOU Unit;
·         ER-3: Quarterly Return BY SSI
·         Weekly return
·         E-filling/e-payment of central excise duty.
·         ER-4: Annual Financial Information Statement
·         ER-5: Information relating to Principal Inputs
·         ER-6: Monthly return of receipt and consumption of each of principal inputs
·         Return in form ER-7
·         Revenue Statement

Frequency of filing Central Excise Returns: SSI units should file the returns quarterly within 20 days of end of quarter and others should file it monthly within 10 days of end of month.
Tax Return Filling Services
The tax e-Filing services of Preetham Shetty and Co are designed to address the diverse needs of various users. We help customize solution for all the different kind of need of tax filling services. Preetham Shetty and Co. are helping by offers the following packages of Tax return filling services in India or Karnataka.
NRI Services
Preetham Shetty and Co. offers the quickest and easiest Income Tax Return e-Filing solution for NRIs, Residents with foreign income, Expatriates, Foreign citizen’s individuals. To file your ITR using Preetham Shetty & Co., just send the required documents and our expert team of chartered accountants takes care of the rest. Preetham Shetty and co. has expertise in the following NRI services:
·         Determination of your residential status in India.
·         Interpretation of DTAA with a view to reduce tax liability in India.
·         Handling of issues relating to inheritance, will, etc.
·         Compliances with respect to the Income-tax Act, 1961, Wealth-tax Act, etc.
·         Application for Permanent Account Number (PAN).
·         Filing of India tax return.
·         Advising suitable tax saving investments.

Business Return Filling
Preetham Shetty & Co. offers the quickest and easiest Income Tax Return e-Filing solution for Indian business individuals. To file your ITR using Preetham Shetty & Co., just send the required documents of your business, investment and any other information as ask by team and our expert team of chartered accountants takes care of the rest.
Preetham Shetty & Co. offers the following Three Income Tax Return filing packages for Business individuals:
There is no mechanism provided by the Government of India for the registration or incorporation of a Proprietorship. Therefore, the existence of a proprietorship is established only by tax registrations and other business registrations that a Proprietorship is required to have as per the rules and regulations. At Preetham Shetty & Co., we can help you establish an identity for your Proprietorship by obtaining the relevant registrations.
Corporate Filings Services
Preetham Shetty and Co. serves quickest and easiest solution for corporate filings services.
Change in name of company
The name of the company is a symbol of its independent corporate existence...
Registered office of company or LLP
The registered office of a company or LLP can be changed within the local limits of any city, town or village...
Changing director or designated partner
Directors are appointed by the shareholders of a company for the management of a company...
Company annual return filing
Companies in India must conduct an annual general meeting at the end of each financial year...
Increase in authorize or paid up share capital
The authorized capital of a company determines the number of shares a company can issue to its shareholders...
Fast Track Exit scheme
MCA has issued guidelines for “Fast Track Exit (FTE) mode” to give opportunity to the defunct companies to get their names struck off from the register.
To get corporate filing services for your business by using Preetham Shetty & Co., just send us the required documents and our expert team of chartered accountants take care of the rest.
 Changing Director or Designated Partner
Directors are appointed by the shareholders of a Company for the management of a Company. As per new company Act 2013, a Private Limited Company is required to have a minimum of two Directors and a Limited Company is required to have a minimum of three Directors. On the other hand, a Limited Liability Partnership (LLP) has Designated Partners and Limited Liability Partnership Act, 2008 requires each LLP to have a minimum of two Designated Partners.
Appointment or removal of a Director or Designated Partners maybe required due to various reasons. To add a Director or Designated Partner, Digital Signature must first be obtained for the proposed Director. Once, Digital Signature is obtained, the proposed Director can be added into the Company with the consent of the shareholders. To remove a Director from a Company or LLP, it is important to ensure the Company or a LLP would have the minimum required number of Director or Designated Partner after removal of the Director. If so, then the resignation letter along with the required form must be filed to effect the resignation of the Director.
As per new company Act 2013- Board of Directors can appoint Additional Directors by filing Form DIR-12.
Company Annual Return Filing of RoC Compliance
Companies in India must conduct an Annual General Meeting at the end of each financial year and file an annual return with the Ministry of Corporate Affair to maintain compliance.
Important Aspects to be considered at the time of Annual Filing of a Company As a part of annual filing, each and every company incorporated and registered under the Companies Act, 2013 are required to file documents along with the relevant e-forms with the Registrar of Companies, normally the financial year starts on April 1st and end on 31st March. So a Company's annual return would be on September 30th.
Annual return consists of information and documents that include the Balance Sheet of the Company, Profit & Loss Account, Compliance Certificate, Registered Office Address, Register of Member, Shares and Debentures details, Debt details and information about the Management of the Company. The annual return would also disclose the shareholding structure of the Company, changes in Directorship and details of transfers of securities. Preetham Shetty & Co. can help file your Company's annual return in India.
Our professional can help you with respect to the Annual return filing of the Company.
Shift of Registered Office of Company Or LLP
All Companies and LLPs in India are required to have a Registered Office in the State where the Company is registered in India. The registered office of a Company or LLP is the principle place of business for a private / public limited company and all official correspondence from the Ministry of Corporate Affairs is sent to this location. The registered office of a Company or LLP can be changed within the local limits of any city, town or village where such office is situated by just giving a notice to the concerned Registrar within 30 days after the date of the change.
A change to the registered business office address can be required due to various reasons. Further, the formalities and process for changing the Registered Office of the Company or LLP will depend on if the Company or LLP is changing address within the same city/town/village or if the Company is changing address between city/town/village of if the Company is changing the Registered Office between States.
            Documents Required
·         Extract of Board Resolution approving the change in address.
·         Latest Electricity Bill of proposed registered Office Address.
·         Rent Agreement or NOC of proposed registered Office Address.

Change in Name of The Company
A company being a legal entity must have a name of its own to establish its Separate identity. The name of the company is a symbol of its independent corporate existence. A company’s name is considered as identity of the company (Public or Private), which may be changed with the approval of members in the general meeting. The first clause in the Memorandum of Association of the company states the name by which a company is known.
The company may adopt any suitable name provided it is not undesirable. According to section 13(1) of the Companies Act, 2013, a special resolution is required to be passed at the general meeting since change in name of the Company involves alteration in Memorandum of Association.
Fast Track Exit Scheme for Closing of Defunct Company
Ministry of Company Affairs (MCA). MCA has issued Guidelines for “Fast Track Exit (FTE) Mode” to give opportunity to the defunct companies to get their names struck off from the register under Section 560 of the Companies Act, 1956 in time bound manner. As per MCA circular No. 36/2011 dated 7 June 2011.
One Person Company in India must at the end of each financial year file an annual return with the Ministry of Corporate Affair and Income Tax Return with the Income Tax Department to maintain compliance. For newly incorporated One Person Company, the Annual Return is due within 18 months from date of incorporation or 9 months from the date of closing of financial year, whichever is earlier. In India, normally the financial year starts on April 1st and end on 31st March. So, One Person Company's annual return would be due on September 30th.
LLP Annual Filing
LLPs in India must file its Annual Return within 60 days from the end of close of financial year and Statement of Account & Solvency within 30 days from end of six months of close of financial year. Unlike Companies, LLPs mandatory have to maintain their financial year, as April 1st to March 31st., LLP annual return is due on May 30th and the Statement of Account & Solvency is due on October 30th of each financial year.
LLPs are separate legal entities; therefore, it is the responsibility of the Designated Partners to maintain proper book of accounts and file annual return with the MCA each financial year. LLPs are not required to audit its accounts unless the annual turnover exceeds Rs.40 lakhs or if the contribution exceeds Rs.25 lakhs. Therefore, LLP who do not have to get the accounts audited if it satisfies the above condition, making the annual filing process a simple and easy one. We give you an opportunity to meet the mandatory annual compliance's of LLP, which is often deferred by the emerging companies leading to detrimental impact on the businesses, at a very affordable rate.   This offer would protect your start-up from unnecessary taxes, penalties by keeping your business in perfect compliance as you grow.


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