MAK BIZ ADVISORS

Thursday, January 23, 2014

WHO IS REQUIRE TO FILE INCOME TAX RETURN

"'In this world nothing can be said to be certain, except death and taxes."

Benjamin Franklin

WHAT IS INCOME TAX?

Income Tax is a tax on income earned in a financial year starting form 1^st April to 31^st March. At present financial year is ending on 31^st March 2014 (FY 2013-2014). Therefore on Income earned from 1^st April 2013 to 31^st March 2014 one need to pay tax.

WHAT IS INCOME TAX RETURN?? (ITR)

ITR is a statement of total income and tax liability submitted annually with INCOME TAX DEPARTMENT via online or offline.

WHO ARE REQUIRED TO PAY INCOME TAX?

Sr. No.	Category	Tax
1	Individuals (Living Persons)	Need to pay tax and file ITR if taxable income exceeds the prescribed limit.*
2.	Others	Need to file ITR even if there is no income of suffered losses.

HOW MUCH TAX TO BE PAID?

Entities	Individuals	Company, LLP, Partnership Firm, Local Authority	Co-operative Societies
Tax Rate	Slab Rate*	30% Flat + 3%**	Slab Rates

** Education Cess @ 2% and SHEC @ 1%

* SLAB RATES FOR INDIVIDUALS (For A.Y. 2014-2015 P.Y. 2012-2013)

For resident senior citizen (above 60 years but below 80 years)	For super senior citizen (Above 80 Years)	For Male or Female below the age of 60 years & HUF	Income Tax rates
Upto 2,50,000	Upto 5,00,000	Upto 2,00,000	NIL
2,50,00-5,00,000		2,00,00-5,00,000	10%
5,00,000-10,00000	5,00,000-10,00000	5,00,000-10,00000	20%
More than 10,00,000	More than 10,00,000	More than 10,00,000	30%
Exclusive of education Cess @ 2% and SHEC @ 1%

It mean that if a individual male/female (below the age of 60 years) is earning income of more than 2,00,000/- in a financial year he/she has to pay tax and file Income tax Return.

WHAT IS THE LAST DAY TO FILE INCOME TAX RETURN?

For Individual 31^st July 2014

For Companies 30^th Sep 2014

CALL US AND GET TAX ADVICE.

Call: 011- 41407878, 9718483209, 9555250231

Mail: info@makbizadvisors.com

Visit: 268, First Floor, Business India Complex,

Uday Park, New Delhi-110049

DETAILS OF INDIAN COMPANY ACQUIRED BY FACEBOOK 'Little Eye Software Labs Private Limited'

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Wednesday, January 8, 2014

DETAILS OF INDIAN COMPANY ACQUIRED BY FACEBOOK 'Little Eye Software Labs Private Limited'

DETAILS OF INDIAN COMPANY ACQUIRED BY FACEBOOK

'Little Eye Software Labs Private Limited'

Facebook has acquired 18 month old Bangalore based ‘startup’ “Little Eye” for approx Rs. 90 Crorees or $15 million . This is first takeover by Facebook in India.

We always suggest that starting your startup as a Private Limited Company is best form of doing business as compared to all other mode of doing business.

BIRD’S EYE VIEW OF THE COMPANY

The “liitle Eye” was registered as a private limited company. Here are some details about company:

Name: Little Eye Software Labs Private Limited

CIN U72200KA2012PTC065545

Registration No. 065545

Registered Address No.66, First Floor, 29th Main, BTM 1st Stage, 1st Phase,

Bangalore, Karnataka, India, 560068

Date of registration 24.08.2012

DETAILS OF DIRECTORS

Sr. No.	Name of Directors	Date of appointment
1	Vivek Kunenkeril Chandy	23/12/2013
2	Ramesh Vaidyanathan Kalpathy	23/12/2013
3	Sateesh Kumar Andra	20/08/2013
4	Avinash Thimmappa Poojari	23/12/2013
5	Kumar Rangarajan	24/08/2012
6	Kakkirala Naga Venkata Surya Maruthi Lakshman	24/08/2012
7	Ramasatyam Veeravenkatanaga Kandula	24/08/2012

DETAIL OF SHARE CAPITAL

Share Capital of the Company as on the date of last Annual General Meeting i.e. 28.09.2013 was as follow:

Authorised Capital Rs. 8,00,000/- (divided into (5,00,000 Equity shares of Rs. 1 each & 3,00,000 Preference Shares of Rs 1 each)

Paid Up Capital Rs. 4,59,509/- Divided into 4,29,200 Equity shares of Rs. 1 each & 30,309 Preference Shares of Rs 1 each)

(The present share capital of the Company is Rs. 6,36,109/-)

As on 28^th September 2013 following were major shareholders.

Sr. No.	Name of Shareholder	No of Share held	%
1	Kumar Rangarajan	100,000	22%
2	Kakkirala Naga Venkata Surya Maruthi Lakshman	100,000	22%
3	Ramasatyam Veeravenkatanaga Kandula	100,000	22%
4	Gridhar Sreenivasa Murthy	100,000	22%

Source: www.mca.gov.in

(source www.mca.gov.in)

· Biz Idea Protection

· Biz Registration

· Biz Management

Corporate Office:

C/o IMET Global, First Floor, 268,

Business India Complex, Uday Park,

Call us : +91 9718483209, 9555250231

Mail: info@makbizadvisors.com

points to consider while selecting logo/brand

Why to protect Biz Idea_Copyright

THREE MODE OF BUSINESS

THREE MUST DO, TO START YOUR START-UP

HOW TO DO PUBLIC SEARCH OF TRADE MARK

Thursday, December 26, 2013

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Wednesday, December 25, 2013

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Thursday, December 19, 2013

MCA LAST OPPORTUNITY_SAVE PENALTY_UPDATE STATUTORY RECORDS

Dear,

You must be aware that the Companies Act, 2013 has been enacted and some sections have come into effect.

We would like to draw your attention that huge penalties have been imposed on non maintaining statutory registers and records.

DOWNLOAD LIST OF PENALTIES FOR NON MAINTAINING STATUTORY REGISTERS AND RECORDS

It is highly recommended to get your statutory registers and records updated at the earliest.

We MAK Biz Advisors are group of experienced and highly qualified professionals including Company Secretaries, Chartered Accountant(s), Cost and Management Accountant(s), Advocates and MBA- Finance professionals.

With a experience of more than 5 years, we are willing to offer this service at a very reasonable price.

Looking forward for a favorable response.

· Biz Idea Protection

· Biz Registration

· Biz Management

Corporate Office:

C/o IMET Global, First Floor, 268,

Business India Complex, Uday Park,

Call us : +91 9718483209, 9555250231

Mail: info@makbizadvisors.com

www.makbizadvisors.com