Suman Jain & Associates

Khekada, Baghpat, Uttar Pradesh

Types of GST Returns

• GSTR-1 is the return to be furnished for reporting details of all outward supplies of goods and services made, or in other words, sales transactions made during a tax period, and also for reporting debit and credit notes issued. Any amendments to sales invoices made, even pertaining to previous tax periods, should be reported in the GSTR-1 return.
• GSTR-1 is to be filed by all normal taxpayers who are registered under GST. It is to be filed monthly, except in the case of small taxpayers with turnover up to Rs.1.5 crore in the previous financial year, who can file the same on a quarterly basis.
• GSTR-2A is the return containing details of all inward supplies of goods and services i.e. purchases made from registered suppliers during a tax period. The data is auto-populated based on data filed by the suppliers in their GSTR-1 return. GSTR-2A is a read-only return and no action can be taken.
• GSTR-2 is the return for reporting the inward supplies of goods and services i.e. the purchases made during a tax period. The details in the GSTR-2 return are auto-populated from the GSTR-2A. Unlike GSTR-2A, the GSTR-2 return can be edited.
• GSTR-2 is to be filed by all normal taxpayers registered under GST, however, the filing of the same has been suspended ever since the inception of GST.
• GSTR-3 is a monthly summary return for furnishing summarized details of all outward supplies made, inward supplies received and input tax credit claimed, along with details of the tax liability and taxes paid. This return is auto-generated on the basis of the GSTR-1 and GSTR-2 returns filed.
• GSTR-3 is to be filed by all normal taxpayers registered under GST, however, the filing of the same has been suspended ever since the inception of GST.
• GSTR-3B is a monthly self-declaration to be filed, for furnishing summarized details of all outward supplies made, input tax credit claimed, tax liability ascertained and taxes paid.
• GSTR-3B is to be filed by all normal taxpayers registered under GST.
• GSTR-4 is the return that was to be filed by taxpayers who have opted for the Composition Scheme under GST. CMP-08 is the return which has replaced the now erstwhile GSTR-4. The Composition Scheme is a scheme in which taxpayers with turnover up to Rs.1.5 crores can opt into and pay taxes at a fixed rate on the turnover declared.
• The CMP-08 return is to be filed on a quarterly basis.
• GSTR-5 is the return to be filed by non-resident foreign taxpayers, who are registered under GST and carry out business transactions in India. The return contains details of all outward supplies made, inward supplies received, credit/debit notes, tax liability and taxes paid.
• The GSTR-5 return is to be filed monthly for each month that the taxpayer is registered under GST in India.
• GSTR-6 is a monthly return to be filed by an Input Service Distributor (ISD). It will contain details of input tax credit received and distributed by the ISD. It will further contain details of all documents issued for the distribution of input credit and the manner of distribution
• GSTR-7 is a monthly return to be filed by persons required to deduct TDS (Tax deducted at source) under GST. GSTR 7 will contain details of TDS deducted, the TDS liability payable and paid and TDS refund claimed, if any.
• GSTR-8 is a monthly return to be filed by e-commerce operators registered under the GST who are required to collect tax at source (TCS). GSTR-8 will contain details of all supplies made through the E-commerce platform, and the TCS collected on the same.
• The GSTR-8 return is to be filed on a monthly basis.
• GSTR-9 is the annual return to be filed by taxpayers registered under GST. It will contain details of all outward supplies made, inward supplies received during the relevant previous year under different tax heads i.e. CGST, SGST & IGST and HSN codes, along with details of taxes payable and paid. It is a consolidation of all the monthly or quarterly returns (GSTR-1, GSTR-2A, GSTR-3B) filed during that year.
• GSTR-9 is required to be filed by all taxpayers registered under GST*, except taxpayers who have opted for the Composition Scheme, Casual Taxable Persons, Input Service Distributors, Non-resident Taxable Persons and persons paying TDS under section 51 of CGST Act.
• As per the CBIC notification 47/2019, the annual return under GST for taxpayers having an aggregate turnover which does not exceed Rs.2 crore has been made optional for FY 2017-18 and FY 2018-19.
• GSTR-9A is the annual return to be filed by taxpayers who have registered under the Composition Scheme in a financial year*. It is a consolidation of all the quarterly returns filed during that financial year.
• GSTR-9A filing for Composition taxpayers has been waived off for FY 2017-18 and FY 2018-19 as per the decision taken in the 27th GST Council meeting.
• GSTR-9C is the reconciliation statement to be filed by all taxpayers registered under GST whose turnover exceeds Rs.2 crore in a financial year. The registered person has to get their books of accounts audited by a Chartered/Cost Accountant. The statement of reconciliation is between these audited financial statements of the taxpayer and the annual return GSTR-9 that has been filed.
• GSTR-9C is to be filed for every GSTIN, hence, one PAN can have multiple GSTR-9C forms being filed.
• As per the CBIC notification 16/2020, GSTR-9C is waived off for the taxpayers with an aggregate turnover of more than Rs 5 crore for the financial year 2018-19.
• GSTR-10 is to be filed by a taxable person whose registered has been cancelled or surrendered. This return is also called a final return and has to be filed within 3 months from the date of cancellation or cancellation order, whichever is earlier.
• GSTR-11 is the return to be filed by persons who have been issued a Unique Identity Number(UIN) in order to get a refund under GST for the goods and services purchased by them in India. UIN is a classification made for foreign diplomatic missions and embassies not liable to tax in India, for the purpose of getting a refund of taxes. GSTR-11 will contain details of inward supplies received and refund claimed.

 
Subject to changes by Notifications/ OrdersStatement of self-assessed tax by composition dealers – same as the erstwhile form GSTR-4, which is now made an annual return with effect from FY 2019-2020 onwards.

Late filing of GST Returns

• Return filing is mandatory under GST. Even if there is no transaction, you must file a Nil return.
• You cannot file a return if you do not file previous month/quarter’s return.
• Hence, late filing of GST return will have a cascading effect leading to heavy fines and penalty.
• The late filing fee of the GSTR-1 is populated in the liability ledger of GSTR-3B filed immediately after such delay.

Interest/late fees to be paid

• Interest is 18% per annum. It has to be calculated by the taxpayer on the amount of outstanding tax to be paid. It shall be calculated on the Net tax liability identified in the ledger at the time of payment. The time period will be from the next day of filing due date till the actual date of payment.
• As per GST Act Late fee is Rs. 100 per day per Act. So it is 100 under CGST & 100 under SGST. Total will be Rs. 200/day. The maximum is Rs. 5, 000. There is no late fee on IGST.
• To learn more about late fees charged across the GST Return periods, read our article on Late fees under GST.

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By the meaning of word the statutory audit in India is the audit which is prescribed by statute. There is many audit in India which is prescribed by the different statute like Income Tax Act require audit as per him similarly VAT Act require audit as per him so a CA need to conduct many audit as per different statute requirement. But known and popular terms used as a statutory audit is not an audit as required under Income Tax Act or VAT Act. It is similar different thing and it is required under the law of incorporating act like if company then audit required under Companies Act and if other body then body incorporated under that act. In India mainly statutory audit means audit under Companies Act in which auditor reports to the member of the company i.e. shareholders.
How we do? Statutory Audit Execution General Process Our firm is well equipped and well experienced in Statutory Audit and we perform it as per the Audit Program designed for the company after assessment of their Internal Control.

• Steps generally we follow
• Getting Appointment Letter & Board Resolution Copy
• Getting NOC from Previous Auditor
• Filing our no disqualification status to the company
• Filing of Form 23B to ROC
• Getting Letter of Engagement
• Assessment of Internal Control
• Formulation of Internal Audit Program Action Plan and Calendar
• Conduction Audit as per IGAAP Companies Act ICAI Accounting Standards and Auditing Standards
• Forming an opinion on financial statement prepared by the company
• Reporting to Shareholders
• Attending AGM

What is GST RegistrationIn the GST Regime, businesses whose turnover exceeds Rs. 40 lakhs* (Rs 10 lakhs for NE and hill states) is required to register as a normal taxable person. This process of registration is called GST registration. For certain businesses, registration under GST is mandatory. If the organization carries on business without registering under GST, it will be an offence under GST and heavy penalties will apply. GST registration usually takes between 2-6 working days. We’ll help you to register for GST in 3 easy steps. *CBIC has notified the increase in threshold turnover from Rs 20 lakhs to Rs 40 lakhs. The notification will come into effect from 1st April 2019.

Who Should Register for GST?

• Individuals registered under the Pre-GST law (i.e., Excise, VAT, Service Tax etc.)
• Businesses with turnover above the threshold limit of Rs. 40 Lakhs* (Rs. 10 Lakhs for North-Eastern States, J&K, Himachal Pradesh and Uttarakhand)
• Casual taxable person / Non-Resident taxable person
• Agents of a supplier & Input service distributor
• Those paying tax under the reverse charge mechanism
• Person who supplies via e-commerce aggregator
• Every e-commerce aggregator
• Person supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person
• CBIC has notified the increase in threshold turnover from Rs 20 lakhs to Rs 40 lakhs. The notification will come into effect from 1st April 2019.

Documents Required for GST Registration

• PAN of the Applicant
• Aadhaar card
• Proof of business registration or Incorporation certificate
• Identity and Address proof of Promoters/Director with Photographs
• Address proof of the place of business
• Bank Account statement/Cancelled cheque
• Digital Signature
• Letter of Authorization/Board Resolution for Authorized Signatory

Penalty for not registering under GST

• An offender not paying tax or making short payments (genuine errors) has to pay a penalty of 10% of the tax amount due subject to a minimum of Rs.10, 000.
• The penalty will at 100% of the tax amount due when the offender has deliberately evaded paying taxes

The Ministry of Finance notified new Return Forms for the AY 2020-21, whereby firms who are liable for tax audit under s.44AB of the Income Tax Act 1961 and Corporate taxpayers mandatory to file their return electronically under digital signature. All other categories of taxpayers (other than charitable trusts, institutions, etc.) could file the return in a paper form or electronically, or in a bar-coded return form. Individual and HUF taxpayers were required to furnish only that information with regard to transactions, which were reported through Annual Information Returns (AIR). CBDT Introduces New Series of Forms for Filing of Income Tax Return for the Assessment Year 2020-21 The Forms for Return of Income are assessment year specific. For the assessment year 2020-21, the Central Board of Direct Taxes have introduced the following eight Return Forms under a new series.
Last year, electronic filing was made compulsory for corporate tax-payers. E-filing of corporate returns has been a resounding success. Therefore, it is important to carry forward this successful initiative. In the Budget Speech – 2007, the Finance Minister had announced that electronic filing of returns would be made mandatory for more categories of taxpayers. Accordingly, for assessment year 2009-10, it would be mandatory for firms liable to tax audit under section 44AB to file their returns electronically. Corporate taxpayers and such firms may either file their return electronically under digital signature or may transmit the data of the return electronically and thereafter submit a one page verification Form which contains a summary of the return transmitted electronically.
All other categories of taxpayers (other than charitable trusts, institutions, etc.) will have the option to file the return in a paper form or electronically, as mentioned above, or in a bar-coded return form. Last year, the Government had introduced a cash flow statement for Individuals and HUFs. However, in response to representations against the cash flow statement, the same has been withdrawn. Individual and HUF taxpayers would now be required to furnish only information with regard to transactions which are reported through Annual Information Returns (AIR).

We offer clients services for getting Pan (Permanent Account Number). It is required as per the latest requirement of Income Tax Act. PAN is a number that is used by Income Tax Department for identifying a person as well as through this number get complete information about the assessed person. As a 10 digit alphanumeric number, it comes printed on laminated card and features information like PAN number, name of applicant, father’s name, date of birth and also carries passport size photo for identification purposes.

PAN number has replaced General Index Registrar (GIR) Number which is provided by assessing officer to assessed and contains details of assessing officer. Based on the section 139A of Income Tax Act, 1961, PAN is required for the following:

• For filing income tax returns
• For undertaking any correspondence with income tax department
• For submitting challans for payment of tax levied to the department
• For conducting verification of identity of assessed in income tax department

TDS Filing: Eligibility, Filing Process, Due Dates, Revised TDS Return, TDS refund

Any person or business who deducts TDS needs to file TDS return, It is filed with Government every quarter, the purpose of it is to inform on the TDS deducted on the payments made by deducter and also and the TDS deposited by deducter in particular quarter. TDS return is filed online. TDS refund is possible only id compliance of filing is completed by party deducting TDS. The smart way is to consult your Chartered Accountant to ensure you are complying with TDS law and getting your TDS refund in a correct manner.

TDS Provision compliance

TDS you pay every month, you receive a challan, this Tds paid Challan is useful at the time of return filing, where you give details on tds deducted and paid by you. TDS filing every quarter is mandatory, The Return form of TDS is prescribed by the Government. The filing has to be done as per TDS due dates specified. Non-filing of return as per TDS provisions attracts penalty. Noncompliance to file TDS provisions gets reported to authorities through financial reporting. The objective is to keep a check on TDS payment status and compliance with the provision of TDS also TDS refund is possible only when filing compliances are complete. TDS refund can be claimed through filing ITR only if your tax computation shows that excess tax has been deducted in your case. Consult a Chartered Accountant to get help on TDS matters

How to know if TDS deducted has been deposited after deduction ?

If your tds has been deducted, you can check the same online through form 26AS in income tax India Government website

Types of TDS Return Forms

• TDS Return Form 24Q : Form 24Q is filed in case TDS is being deducted from salary. An employer files it. TDS return form 24q contains the detail information of salary paid and credited to the account of the employee along with the TDS deducted and payment details of the same.
• TDS Return Form 26QB : On payment being made for the transfer of immovable property, if tds is being deducted Form 26 Q is filed in that case.
• TDS Return Form 27Q : If a payment to non-resident required TDS deduction. In this case, TDS filing is done through form 26QB.
• TDS Return Form 26Q : TDS return form 26Q is filed for any other case like interest payment, commission payment, professional fees payment, contractual payment etc.

Documents Required for filing e-TDS Return

• PAN card
• TDS certificates (if TDS has been deducted by other)
• Payment details like TDS challan date, number, bsr code and tds challan amount
• In response to a notice received from the Department of Income Tax – You need the details of Original return/details of notice.

Tax Audit comes under the purview of Section 44AB of the Act which specifies the persons who are required to get audit of their books of accounts. This section specifies particularly that except for the persons coming under the purview of the sections mentioned in the text of Section 44AB , all other have to get their accounts audited under Section 44AB.
The object of audit under section 44AB is only to assist the Assessing Officer in computing the total income of an assessee in accordance with different provisions of the Act.

This Audit effectively curbs tax Evasion and ensure tax compliance.  Therefore,

• Even though the income of a person is below the taxable limit, he will have to get his accounts audited and if his turnover in business exceeds the prescribed limit.
• If Assessing Officer wants the assessee to get his accounts audited in cases where the figures of turnover as appearing in the books of account of the assessee do not exceed the prescribed limits, he has no option but to pass an order under section 142(2A) directing the assessee to get his accounts audited from a chartered accountant as may be nominated by the Commissioner of Income-tax or the Chief Commissioner of Income-tax
• Hence, it must also be understood that the issue whether the turnover/gross receipt exceeds the prescribed limit is to be determined in each year independent of the results obtained in the preceding year or years.  This section applies only if turnover/gross receipt exceeds the prescribed limit according to the accounts maintained by the assessee.  It would be advisable to maintain basic records to support the turnover/gross receipt for declare audit required or not.

Analysis of Section 44AB: Applicability: This section is applicable to every person:

• Carrying on business shall, if his total sales, turnover or gross receipts, as the case may be, in business exceed or exceeds one crore rupees in any previous year; or
• Carrying on profession shall, if his gross receipts in profession exceed fifty lakh rupees in any previous year; or
• Carrying on business as specified under Section(s) 44AE, 44BB, 44BBB and declared profit less then as specified in the respective sections
• Carrying on business/profession as specified under Section 44AD, 44ADA and income exceeds the limits as specified in the respective sections
• Deriving income under Sections 44B, 44BBA and declared profit less than the limits specified

Penalty for failure to get accounts audited:If any person who is required to get his accounts audited by an Accountant as compliance provision of 44AB,   before the specified date fails to do so shall be liable for penalty under section 271B.  The amount of penalty shall be one-half percent of turnover / gross receipts or Rs.150000/- whichever is lower.  This penalty shows the seriousness that the Government affixes towards Tax Audit under section 44AB.

Any payment or any remittance is done to a Non-resident is subject to many rules and regulations. Initially, when an individual user to make payment or remittance to Non-Resident, he was bound to furnish a certificate in a standard format specified by RBI. The purpose behind collecting the taxes at the time of the remittance is to avoid a situation where it becomes difficult or impossible to collect the tax from the NRI later.

Now in order to check and track the transactions in a well- manner, re-filling of data in the certificates is introduced.

Section 195 of the Income tax act, 1961 makes it compulsory to deduct the Income-tax from payments made to Non-Resident. The person making payment/ remittance to non – resident holds the responsibility to furnish an undertaking (in form 15CA) attested by a Chartered Accountants Certificate in Form 15CB. So when a person has to make any payment or remit any money to non-resident, the bank will have to verify the payment of tax and act accordingly.

For the deduction of tax, there are certain tax slabs, formed for different specific amounts on which tax is levied and two Forms, Form 15CA, and Form 15CB for two different cases, which has to be submitted online duly filled.

The Form 15CA has to be furnished online by a person making any remittance of foreign nature to a non-resident. The Form 15CB regulates the tax deduction as per the income tax rules and also prohibits the double tax provision. The filing of Form 15CB requires an attestation from a chartered accountant.

In Form 15CB, we are required to mention information like details of the remittee, details of the remitter, nature of remittance including royalty, salary, commission etc, Tax Residency Certificate and Bank details of the remitter from the remitter in the case of DTAA (Double Taxation Avoidance Agreement).

Documents required for Form 15CA and 15 CB:-

Details of Remitter :

• Remitter’s Name
• Remitter’s Address
• Remitter’s PAN Number
• Principal Place of Business of the Remitter
• E-Mail Address and Phone No. Of Remitter
• Status of the Remitter (Firm/Company/Other)

Details of Remittee :

• Name and Status of the Remittee
• Address of the Remittee
• Principal Place of Business
• Country of the Remittee

Details of the Remittance :

• Country to Which Remittance Is Made
• Currency in Which Remittance Is Made
• Amount of Remittance in Indian Currency
• Proposed Date of Remittance
• Nature of Remittance as Per Agreement (Invoice Copy to Be Asked From Client)

Bank Details of the Remitter :

• Name of Bank of the Remitter
• Name of Branch of the Bank
• BSR Code of the Bank

Others :

• Father’s Name of the Signing Person
• Designation Of The Signing Person

According to companies act, it is mandatory for every company to file an annual return. If you are seeking professional assistance for doing the same, look no further than SJ&A. Ours is a Baghpat (Uttar Pradesh, India) based service provider agency and can be trusted for carrying out each and every aspect of your ROC filing needs. We render services in accordance to the stated industry norms. Clients can contact us anytime for further discussion.

WHAT IS ROC FILING?

ROC filings are the compliances which are to be done by every company under Companies Act. As per The Companies Act, there are sure compliances that are to be documented by the Private Limited Company or any Company besides. The ROC filings are important and cannot be skipped else the ministry can impose high penalty form non-filing.

WHY ROC FILINGS ARE REQUIRED?

As every company have to intimate the ROC about the income and expenditure and information regarding its shareholders, meetings, any kind of change in the Company during the Financial year etc. and to make company free from non-compliances, ROC filings are must. If any Company fails to do so then a heavy penalty will be imposed for non-filing.

WHAT ARE THE FORMS FOR ROC FILING?

There are different types of forms for ROC filing which are as follows :

• ADT-1 : Details for appointment of auditor shall be filed with this form.
• AOC-4: Financial statements of the Company shall be filed in this form.
• MGT-7 : Annual Return of the Company shall be filed in this form.

WHAT ARE THE DUE DATES FOR ROC FILING FORMS?

The due date for ROC filing forms is differently described by the Ministry of Corporate Affairs. The due dates are:

• ADT-1: This form is to be filed within 15 days from the date of conclusion of Annual General Meeting.
• AOC-4: This form is to be filed within 30 days from the date of conclusion of Annual General Meeting.
• MGT-7: This form is to be filed within 60 days from the date of conclusion of Annual General Meeting.

Payroll processing is an important function for any business organization. It requires specialized knowledge and a clear understanding of the laws applicable in payroll processing. We provide a wide-range of payroll services to our clients. Our approach to payroll services involves appropriate planning for salary structure self serviced online access to employees and support to the organization from start to finish. Whether you’re a small business or a mid-sized business owner with payroll processing, tax filing and HR management, we have a comprehensive and affordable solution for you. We have a pan-India presence that enables us to serve the clients across the country.

Our services mainly include –
Payroll Processing

• Assistance in statutory compliances in relation to payroll services.
• Assistance in tax issues related to payroll of individuals.
• Personal employee support services concerning their payroll matters.
• We can customize our services to meet your particular requirements and can address your queries related to payroll matters. Our dedicated team of experienced professionals with extensive knowledge of methods relating to payroll processing can provide you with a full-fledged payroll services for all your employees and your top management.

UdyogAadhar is to simplify the process for the business owners to register their business under Micro Small Medium Enterprise or MSME.

UdyogAadhar Registration Benefits :

• Easily Open Current Account
• Tax Benefits
• Tax Apply Govt. Tenders Easily
• Easy to get bank loan
• Tax Protection Against delayed payment
• Concession in Electricity Bills
• Octroi benefits
• Reduced rate of interest from banks
• Eligible for IPS subsidy
• 50% subsidy for patent registration

We offer clients competent service support for filing of Online TDS Payment Services. It is submitting TDS through electronics means and has emerged as convenient modes of collection of tax affected at the source from assessed in India. Here, in events where specified income is generated as per the Income-tax Act, the payer of such income needs to deduct stipulated percentage of such income through Income-tax and pay balance amount to the recipient. This dedicated tax is deducted at source by payer and is deposited in Government treasury through the means of eTDS. eTDS is deducted from income of recipient as payment of Income-tax by recipient at time of assessment.

There are several listed income sources that are subjected to tax deduction at source and is presently also used as instrument to enlarge tax base like –

• Salary
• Interest/Dividend
• Interest on securities
• Winnings from lottery
• Commission & brokerage
• Rent
• Fees for professional & technical services

As a form of Advance tax paid to government, E-TDS returns are prepared in form No. 24, 26 or 27 as per Govt. of India Income Tax Act. Under this act, all Government & Corporate deductors/collectors need to file TDS (Income Tax Deducted at Source) returns on electronic media. Here, our expertise lies in providing services in preparation of e-TDS through –

• Quarterly returns
• Annual filings

Digital signature certificate aka DSC is a secure digital key that certified the identity of the holder. It is issued by a certifying authority with one year validity and two year validity. If you are seeking professional assistance for acquiring any class of DSC without hassles, then come directly to SJ&A. We are based in Baghpat (Uttar Pradesh, India) and can be your trusted partner for acquiring DSC in less time.

What is Digital Signature !

• A Digital Signature Certificate, like hand written signature, establishes the identity of the sender filing the documents through internet which sender can not revoke or deny. Accordingly, Digital Signature Certificate is a digital equivalent of a hand written signature which has an extra data attached electronically to any message or a document.
• Digital Signature also ensures that no alterations are made to the data once the document has been digitally signed. A DSC is normally valid for 1 or 2 years, after which it can be renewed
• A Digital Signature is a method of verifying the authenticity of an electronic document.
• Digital signatures are going to play an important role in our lives with the gradual electronization of records and documents.
• The IT Act has given legal recognition to digital signature meaning, thereby, that legally it has the same value as handwritten or signed signatures affixed to a document for its verification.
• The Information Technology Act, 2000 provides the required legal sanctity to the digital signatures based on asymmetric cryptosystems. The digital signatures are now accepted at par with handwritten signatures and the electronic documents that have been digitally signed are treated at par with paper documents.

There are following types of Digital Signatures :-

Class 2 Digital Signature Certificates for Income Tax Return e-filing, ROC / MCA 21

• Class 2  Digital signature certificates are issued to Individual or organization for various purposes. Class 2 A digital signatures for individuals is personal certificate that provides second highest level of assurance within the RCAI hierarchy setup by CCA ( Controller of Certifying Authorities) in India which is mainly used for MCA21, ROC, Income Tax e-filing, sign a word or excel file, sign e-mail sent through Outlook and many more !!
• Class 2 Digital Signature are used by Chartered Accountants or Company Secretary for their clients, for himself, for existing directors, for new company incorporation, for practicing CA or CS or ICWA.

Class 3 Digital Signature Certificates for e-Tendering / e-Procurement/e-Bidding/e-Ticketing/e-Auction/e-Bidding

• Class 3 a/b digital signature certificates are issued to Individual or organization for various purposes. Class 3 A/B digital signatures for individuals/Organization is certificate that provides highest level of assurance within the RCAI hierarchy setup by CCA ( Controller of Certifying Authorities) in India which is mainly used for e-tendering or e-procurement or e-bidding.
• To participate in the e-tendering process, every vendor is required to use a Class 3B Digital Signature Certificate. Class 3 Digital Signatures are issued to individuals, organizations and devices and applicable for personal and commercial use. Typically, they are used for Electronic Data Exchange ( EDI ) , internet banking/broking-tendering and other web-based transactions where confidentiality and authenticity are critical.     

What is the difference between Class 3 Digital Signature issued to Individuals or Organizations ?

• Individual ( Class 3 a Digital Signature Certificates) : Class 3a Individual certificates issued to individuals or devices and encompass primarily high end security-sensitive online activity.
• Organization ( Class 3b Digital Signature certificates) : Class 3b Organization certificates those are used for signing, encryption, electronic access control, e-commerce, and online financial transactions that require a strong  assertion of the customer's identity. The validation procedures for class 3 Organization  certificates includes confirmation that the org. does in fact exist, authorization from the org. for the certificate applicant.

DGFT Digital Signature Certificates for Importers-Exporters

DGFT Digital Signature is one of the many types of Digital Signature Certificates which is only provided by two certifying authorities ( CA) in India i.e. (n)Code Solutions & Safe Scrypt. Safe Scrypt launch this product with name Safe EXIM or Safeexim or Safe-Exim where as (n)Code Solutions launch this with name (n)exim  or (n)Exim or (n) Exim.

TAN number is used for deduction of taxes and is required if you are – Paying salary Making payments in form of consultancy fees, rent, contractual payments With the tax deducted at source and paid to Income Tax Department, it is mandatory to deducting taxes and is quoted in TDS/TCS return including in –

• e-TDS/TCS return
• TDS/TCS payment challan
• TDS/TCS certificates

TAN is 10 digit alpha numeric number that is needed by all persons responsible for deducting/collecting tax and as per Income Tax Act, 1961 is required by persons making payment/crediting income of specified type to another person. Here the payee deducts a specified amount payable/creditable at time of making payment/giving credit (whichever is earlier) and deposit sum deducted (TDS). Prior to making deductions, persons need to apply to assessing Officer for allotment of tax deduction account number (TAN) under section 203A of the Income Tax Act.

TAN in quoted in following documents:

• Challans while depositing deducted tax
• Certificates issued against tax deducted
• Returns furnished in respect of tax deducted at source
• Other documents that pertain to transactions as may be prescribed

STATUTORY AUDIT,

TAX AUDIT,

INTERNAL AUDIT,