Question 1

Should I register a private limited company, an LLP or a proprietorship?

Accepted Answer

It depends on whether you intend to raise external capital, how many owners there are, the liability you want to ring-fence and how much ongoing compliance you can sustain. A private limited company suits businesses raising investment, an LLP suits professional and partner-run businesses wanting lighter compliance, and a proprietorship suits an individual testing a business idea. We advise on the structure against your actual plan before anything is filed.

Question 2

Can I register a company at my home address?

Accepted Answer

Yes, a residential address can be used as the registered office provided you can produce the required address proof and an owner's no-objection where the premises are not yours. The registered office is where statutory communications are served, so it must be an address you actually control.

Question 3

What registrations do I need immediately after incorporation?

Accepted Answer

PAN and TAN come with incorporation. Beyond that it depends on operations — GST where applicable, a bank account and its KYC, professional tax or Shops & Establishment registration in many states, and PF or ESIC once employee thresholds are met. We map the stack to your business rather than selling every licence.

Question 4

Do I need to be physically present anywhere?

Accepted Answer

Ordinarily no. Documents are signed digitally and filings are made online. Some state-level registrations or bank formalities may require physical or video verification, and we tell you upfront where that applies.

Question 5

Is GST registration compulsory for my business?

Accepted Answer

It depends on turnover, the states you supply into, and the nature of your activity. E-commerce sellers, inter-state suppliers and certain notified categories can require registration from the first rupee. We confirm applicability against your facts before filing anything.

Question 6

What happens if I file GST returns late?

Accepted Answer

Late fee and interest apply, input credit can be blocked for your buyers, and the portal can restrict further filings. Persistent default can lead to notices and, in serious cases, cancellation of registration. Getting back into sequence is possible and is best done with a plan rather than piecemeal.

Question 7

I have received a GST notice. What should I do first?

Accepted Answer

Identify the section under which it is issued and the reply deadline, then reconcile your records for the period concerned before drafting anything. A reply that is filed without reconciliation usually invites a second, harder notice. Do not ignore the deadline — extensions are not automatic.

Question 8

Can I claim input tax credit on all business purchases?

Accepted Answer

No. Credit depends on the supply being eligible, the invoice being valid, the supplier having reported it, and the credit not falling into a blocked category. Reconciliation between your books and the portal is what protects the claim.

Question 9

Which documents do you need to file my income tax return?

Accepted Answer

Typically PAN and Aadhaar, bank statements, Form 16 or business books, TDS details, investment and loan particulars, capital-gains statements where relevant and last year's return. You receive a checklist specific to your case before we start.

Question 10

I received an income tax notice — is it serious?

Accepted Answer

Notices range from an intimation about a mismatch to a scrutiny or reassessment proceeding, and the correct response differs entirely. The first step is to read what is actually being asked and by when, then to build the position on evidence.

Question 11

Do you handle NRI taxation?

Accepted Answer

Yes — residential status determination, taxability of Indian income, DTAA relief, foreign tax credit and repatriation documentation. These matters turn on facts and dates, so they are handled as advisory rather than as a form-filling exercise.

Question 12

Can tax be planned lawfully?

Accepted Answer

Yes. Lawful planning means structuring real transactions and claims correctly, with documentation, in advance. It is not the same as concealment or backdating, which we do not do.

Question 13

How does trademark registration protect my brand?

Accepted Answer

Registration gives exclusive rights in the classes you file for, and a basis to act against later confusingly similar marks. We search first, advise on class selection and file, then handle examination reports if they arise.

Question 14

My trademark application has been objected to. Is it lost?

Accepted Answer

No. An examination report is an opportunity to answer, on absolute or relative grounds as the case may be, with evidence of use or distinctiveness where available. Outcomes are decided by the Registry, so no one can promise a result — but a properly built reply materially improves the position.

Question 15

Is copyright the same as a trademark?

Accepted Answer

No. A trademark protects a brand identifier used in trade; copyright protects original creative work such as content, artwork, music or software. Many businesses need both, for different assets.

Question 16

What does ROC annual compliance include?

Accepted Answer

Financial statements and annual return filings, director KYC, statutory registers, minutes and the board and general meetings behind them. Default attracts per-day penalties that do not lapse, so it runs on a calendar with reminders.

Question 17

Do you take over bookkeeping from an existing accountant?

Accepted Answer

Yes. We begin with a review of the current books, reconcile balances and identify open items before taking the cycle over, so nothing is inherited silently.

Question 18

How do I keep track of due dates?

Accepted Answer

We maintain your filing calendar and remind you ahead of each cycle. The public compliance calendar on this website sets out the recurring statutory pattern by category so you can see what applies to you.

Question 19

How does MYFINTAX price its services?

Accepted Answer

Scope and fees are confirmed in writing before work begins, after a professional has reviewed your requirement. Nothing is added later without your agreement.

Question 20

Are Government fees included in your quote?

Accepted Answer

They are stated separately. Government, statutory, registry and stamp charges are payable to the authority and are collected as pass-through amounts; professional fees are for our work. Applicable GST is charged in addition.

Question 21

Why are some services shown as 'on quote'?

Accepted Answer

Advisory, CFO, project-finance and litigation-adjacent work varies with turnover, entity type, volume and the state of existing records. Quoting a headline number for those would be misleading, so we scope first.

Question 22

What is your refund position?

Accepted Answer

Fees for work not performed are refundable, assessed against the stage reached; Government charges already paid are governed by the authority. Paid consultations have their own dedicated policy.

Question 23

What happens in a paid consultation?

Accepted Answer

A scheduled professional session on your matter — your facts are reviewed, the position and options are explained, and you leave with a clear next step. It is advisory time, not a filing service.

Question 24

Can I reschedule or cancel a booking?

Accepted Answer

Yes, within the windows set out in the Consultation, Cancellation, Rescheduling & Refund Policy, which governs paid consultations in full.

Question 25

Is implementation work included in the consultation fee?

Accepted Answer

No, unless expressly stated. Filings, registrations, replies, drafting and ongoing compliance are separately scoped engagements.

Question 26

Who actually handles my matter?

Accepted Answer

Work is delivered by a professional team and reviewed by a Chartered Accountant. Matters requiring another class of professional are coordinated with an appropriately qualified professional.

Question 27

Do you work with clients outside your city?

Accepted Answer

Yes. The process is online-first and we serve clients across India, as well as NRI clients abroad. Documents are collected digitally and filings are made electronically.

Question 28

Can you guarantee that my registration will be approved?

Accepted Answer

No, and nobody honestly can. Approvals are decided by the relevant authority. We commit to correct, complete and timely submissions, and to seeing objections and queries through.

Question 29

How is my data handled?

Accepted Answer

Information is used only for your enquiry or engagement, access is restricted internally, and documents move through managed infrastructure. Our Privacy Policy sets out sharing, retention and your rights.

The questions owners ask before they choose a service.

Starting a business

GST

Income tax

Trademark & IP

Ongoing compliance

Pricing & fees

Consultation

Working with MYFINTAX

Still not sure what applies to you?