Frequently Asked Questions

It helps authorities assess whether the bidder has adequate financial strength to execute the project.

Yes, bid capacity can be calculated separately for each tender.

Yes, digitally signed certificates are generally accepted in e-tenders.

A Bid Capacity Certificate must be issued by a Chartered Accountant.

Any business or professional with regular financial transactions benefits from bookkeeping services.

Bookkeeping is typically done monthly, but frequency may vary based on business volume.

Yes, we maintain books in GST-compliant formats.

Yes, we can work with most popular accounting software.

DSC is required for directors, professionals, and businesses filing returns or documents online.

DSCs are generally issued with 1-year or 2-year validity.

Yes, DSC is mandatory for certain income tax filings and all MCA filings.

Yes, DSC can be renewed easily before or after expiry.

EPF registration is mandatory for establishments employing 20 or more employees. Some establishments may be required to register voluntarily or as notified by authorities.

EPF registration usually takes 7–15 working days, subject to correct documentation and verification.

Both employer and employee contribute 12% of basic salary + DA towards EPF.

Yes, EPF registration has lifetime validity and does not require renewal, provided ongoing compliance is maintained.

Failure to register can result in penalties, interest on dues, and legal action under the EPF Act.

ESIC becomes applicable when an establishment falls under the notified categories and employs 10 or more employees (20 in some states), with employees earning wages up to the prescribed limit.

ESIC applies only to employees whose monthly wages are up to ₹21,000. Employees earning above this limit are not covered under ESIC.

Non-registration despite applicability can result in penalties, interest on dues, and legal action by the Employees' State Insurance Corporation under the ESI Act.

Factories (including manufacturing units),Cinemas and theaters, Shops & commercial establishments, Hotels and restaurants, Educational institutions (private), IT & software companies, Hospitals and diagnostic centers

Any business seeking loans, investors, audits, tax filings, or better financial control benefits from financial statements.

Most businesses prepare them monthly, quarterly, or annually depending on reporting and compliance needs.

Yes, our statements are professionally prepared and suitable for banks, investors, and regulatory purposes.

Yes, we can work with incomplete data and help organize and reconcile records where possible.

Turnaround time typically ranges from a few days to two weeks, depending on record completeness and business size.

Yes. Any individual or business involved in manufacturing, storing, distributing, selling, or transporting food must obtain FSSAI registration or license from the Food Safety and Standards Authority of India.

FSSAI Registration is meant for small food businesses with limited turnover, while FSSAI License (State or Central) is required for medium and large food businesses depending on scale and operations.

Typically, FSSAI registration or license is issued within 7–15 working days, provided all documents are correct and no additional clarification is required.

An FSSAI license is valid for 1 to 5 years, depending on the validity period chosen at the time of application. It must be renewed before expiry to avoid penalties.

Yes. The FSSAI registration and license application process is completely online. Documents can be uploaded digitally, and the certificate is issued electronically.

GST should be cancelled when business is closed, transferred, or no longer liable for registration.

Yes, GSTR-10 is mandatory in most cases to formally close GST compliance.

Yes, businesses can apply for voluntary GST cancellation if eligibility criteria are met.

Non-cancellation may result in late fees, penalties, and compliance notices.

All GST-registered businesses must comply with GST return filing and reporting requirements.

Most regular taxpayers file GSTR-1 and GSTR-3B each month.

Late filing attracts late fees, interest, and compliance notices.

Yes, we file nil returns for businesses with no transactions.

Businesses exceeding the turnover threshold or engaged in specified activities must register under GST.

Typically 3–7 working days, subject to document verification.

Aadhaar helps in faster approval but alternative verification methods are also available.

Yes, GST registration can be cancelled if business operations stop or criteria no longer apply.

Operating without mandatory GST registration can attract penalties and legal action.

An Import Export Code (IEC) is a 10-digit identification number issued by the Directorate General of Foreign Trade. It is mandatory for businesses or individuals involved in importing or exporting goods or services from India.

Yes. Any person or business engaged in import or export activities must obtain an IEC, except in a few exempted cases notified by the government.

IEC registration is usually completed within 1–3 working days, provided all documents are submitted correctly and there are no discrepancies.

Yes, an individual can apply for IEC in their own name even without a registered business. This is commonly used by freelancers, consultants, or individuals who want to export services or goods in their personal capacity.

Yes. The IEC application process is completely online.

No, we provide advisory for life, health, and general insurance.

Recommendations are based on suitability, benefits, and claim performance—not commissions.

Yes, we analyze existing policies and suggest improvements if required.

Yes, we provide advisory support and guidance during the claim process.

Filing your ITR independently can be a cumbersome process. However, if you choose us for your income tax services, the entire procedure can be completed hassle free. At YourTaxEase, we offer fast, effective and easy tax return filing. We claim to be one of the best ITR filing service providers in India as each & every return filed is checked for accuracy and completeness. Everything that the clients enter goes through a robust check by our income tax experts. Further, In today’s atmosphere where there is a rapid change of tax policies, We are a Tax Saviour for you. Our income tax services are designed to suggest deductions and tax exemptions applicable to income tax returns and also ensure that the clients get the maximum possible tax refund and they do not pay more than they owe.

Anyone can — salaried people, freelancers, shop owners, business owners, companies, or even trusts. Just share your details and we’ll guide you.

You’ll need PAN, Aadhaar, Form 16 (if salaried), bank statements, and investment details. For business, basic income and expense details are required.

Yes, completely. Your personal and financial details stay confidential and are not shared with anyone.

Don’t worry. We will help you understand it and guide you on what to do next

Yes, you can file updated returns for previous financial years as per Income Tax Department rules.

You may have to pay penalties, interest on tax dues, and may receive notices from the department.

Yes, penalties and interest may apply depending on the delay and tax payable.

Usually, the process takes 1–2 working days after document submission.

Yes, eligible deductions can be claimed while filing pending returns if allowed under the rules.

At least two partners are required, and there is no maximum limit.

No. The entire process is 100% online.

Typically 7–10 working days, subject to document verification and government approvals.

No, but LLP is ideal for startups seeking limited liability with fewer compliance requirements.

Any GST-registered exporter who has not been prosecuted for tax evasion exceeding ₹250 lakh can file LUT.

Yes, LUT must be filed every financial year.

An LUT is valid for one financial year in which it is filed.

Without LUT, exporters must pay IGST on exports and later claim a refund, causing cash flow blockage.

MSME Registration, also known as Udyam Registration, is a government process to classify micro, small, and medium enterprises under the Ministry of Micro, Small and Medium Enterprises to avail various benefits and schemes.

No, MSME registration is not mandatory. However, it is highly recommended as it enables businesses to access government subsidies, priority lending, tax benefits, and protection under MSME laws.

MSME-registered businesses can avail benefits such as easier access to bank loans, lower interest rates, subsidies, protection against delayed payments, and eligibility for government tenders.

Any manufacturing or service enterprise, including proprietorships, partnership firms, LLPs, and companies, can apply for MSME registration if they meet the investment and turnover criteria.

Yes. MSME (Udyam) Registration comes with lifetime validity and does not require renewal. However, business details must be updated if there are changes in turnover or investment.

Mutual funds are suitable for anyone looking to grow wealth systematically, from beginners to seasoned investors.

Both have benefits; SIP offers discipline and averaging, while lump-sum works well in certain market conditions.

Portfolios should ideally be reviewed at least once or twice a year, or when goals change.

Only a Chartered Accountant can issue a valid Net Worth Certificate.

It is required for bank loans, visa applications, tenders, and official verifications.

Yes, both movable and immovable assets can be included.

Yes, digitally signed certificates are generally accepted by most authorities.

NGOs can be registered as a Trust, Society, or Section 8 Company, depending on objectives and governance needs.

Trust: Minimum 2 trustees Society: Minimum 7 members Section 8 Company: Minimum 2 directors

Most of the process is online, but some structures may require physical submission depending on state rules.

An NGO can earn surplus income, but profits must be used only for charitable objectives, not for personal distribution.

Usually 7–10 working days, subject to verification.

Yes, PAN corrections or updates can be completed 100% online.

Name, date of birth, address, photo, signature, and father’s name can be corrected.

For individuals, Aadhaar is generally required as per current guidelines.

Registration is not mandatory but highly recommended. A registered firm enjoys legal benefits such as the right to sue and better credibility.

A minimum of 2 partners is required, and the maximum limit is 50 partners.

The registration process usually takes 7–10 working days, depending on document verification and approval by the Registrar of Firms.

Yes. A Partnership Firm can be converted into an LLP or Private Limited Company as the business grows.

Anyone with existing investments who wants better returns, lower risk, or clarity on their portfolio.

We primarily focus on optimizing your existing portfolio, with new suggestions only if required.

Yes, Portfolio Doctor is usually a one-time review, with optional follow-up support.

Execution support can be provided separately if needed.

A minimum of 2 directors and 2 shareholders are required. The same individuals can act as both.

The incorporation process usually takes 7–10 working days, subject to document verification and MCA approval.

GST is mandatory only if the company crosses the prescribed turnover limit or engages in interstate supply or specified businesses.

Annual compliances include ROC filings, income tax return, statutory audit, and annual general meeting (AGM).

There is no minimum paid-up capital requirement to start a Private Limited Company in India.

Entrepreneurs, startups, MSMEs, and businesses applying for bank loans or government schemes need a project report.

Yes, our project reports are prepared in formats accepted by banks and financial institutions.

Absolutely. Each project report is fully customized based on your business model and funding needs.

Typically 2–5 working days, depending on complexity and data availability.

All companies registered under the Companies Act must file ROC returns.

Late filing attracts heavy additional fees and penalties.

Yes, even dormant or inactive companies must file ROC returns.

AOC-4 (financials) and MGT-7 / MGT-7A (annual return) are mandatory.

A Sole Proprietorship is a business owned and managed by a single individual. The proprietor has full control over operations and is personally responsible for all liabilities of the business.

There is no separate legal registration for a Sole Proprietorship. However, registrations such as GST, MSME (Udyam), or Shop & Establishment License are required to legally operate and prove the existence of the business.

Typically, a Sole Proprietorship can be set up within 3–7 working days, depending on the required registrations and document verification.

Basic documents include the proprietor’s PAN card, Aadhaar card, address proof, business address proof, and bank details. Additional documents may be required based on the nature of the business.

Yes. You can open a current bank account in your business name using GST registration, MSME certificate, or other valid business registrations.

Businesses or professionals whose turnover or receipts exceed prescribed limits must undergo a tax audit.

Generally, the tax audit report must be filed by 30th September (subject to government notifications).

Failure to conduct a tax audit may attract penalties under income tax laws.

Only a Chartered Accountant is authorized to conduct and sign a tax audit report.

The buyer is responsible for deducting and depositing TDS before making payment to the seller.

TDS is generally deducted at 1% of the sale consideration under Section 194-IA, subject to applicable rules.

TDS applies when the property value exceeds the prescribed threshold under the Income Tax Act.

Yes, Form 16B must be issued by the buyer to the seller as proof of TDS deduction.

A Turnover Certificate must be issued and certified by a Chartered Accountant.

It is commonly required for bank loans, tenders, GST, government registrations, and compliance purposes.

Yes, turnover can be certified based on books of accounts or bank statements.

Usually 1–3 working days, depending on document availability.

Anyone looking to systematically grow wealth over the long term—salaried individuals, business owners, professionals, and families.

A wealth builder focuses on goal-based planning, diversification, and disciplined investing rather than ad-hoc investments.

Yes, plans are designed for both beginners and experienced investors based on their comfort and knowledge level.

Portfolios are typically reviewed quarterly or annually, or when there is a major life or market change.

Yes, tax efficiency is a key part of wealth-building strategies to maximize long-term returns.