FAQs

GST registration requires specific information and documents depending on the type of business (Proprietorship, Partnership, Company, LLP, etc.). Below are the general details required:

Basic Details of the Business :

• Legal Name of Business (as per PAN)
• PAN of the Business / Proprietor
• Constitution of Business (Proprietorship / Partnership / LLP / Company / Trust, etc.)
• Nature of Business Activities (Trading / Manufacturing / Services / Export / Import / E-commerce, etc.)

Promoter / Partner / Director Details

• Full Name
• PAN, Aadhaar Number
• Mobile Number (linked with Aadhaar), Email ID
• Residential Address
• Photograph, Designation (Proprietor / Partner / Director / Authorized Signatory)

Principal Place of Business Details

• Complete Address, Contact Details (Mobile & Email)
• Nature of Possession like Own Property, Rented / Leased, Consent Letter, Consent Letter
• Supporting Documents Required like Electricity Bill / Property Tax Receipt / Municipal Khata, Rent Agreement (if rented), NOC from Owner (if applicable)

Bank Account Details

• Bank Account Number, IFSC Code, Copy of Cancelled Cheque or Bank Statement (Any one for Verification of Registration)

To file your Income Tax Return accurately, certain personal, financial, and investment details are required. The documents may vary depending on whether you are a salaried individual, business owner, or professional.

Basic Personal Details

• PAN Card, Aadhaar Card
• Mobile Number (linked with Aadhaar, Email ID
• Bank Account Details (Account Number & IFSC Code),
• Address Details
• Date of Birth

Income Details (Based on Source of Income)

• For Salaried Individuals :
• Form 16 issued by employer
•  Salary slips (if required)
• For Business Owner/ Professional :
•  Books of Accounts
• Profit & Loss Account & Balance Sheet
• GST turnover details
• Income From House Property :
• Rental Income details
• Municipal taxes paid
• Home loan interest certificate

The Income Tax Department uses data analytics, AIS (Annual Information Statement), and information from banks and financial institutions to identify high-value or unusual transactions. Certain transactions may increase the chances of scrutiny if not properly disclosed in the Income Tax Return.

Below are common transactions that may attract scrutiny:

High-Value Cash Transactions    

• Large cash deposits in bank accounts.
• Cash withdrawals inconsistent with declared income.
• Cash sales reported in GST but not matching income.
• Unexplained Bank Receipt in Bank.

Large Bank Transactions  

• Unexplained loans or gifts received.
• Unexplained Investments made during the period.

Mismatch in Income Reporting

• Difference between Form 26AS / AIS and Income declared.
• TDS claimed but corresponding income not shown.
• GST turnover mismatch with ITR turnover.
• Bogus Expenditure claimed in business.
• Unexplained Bad Debt booked in accounts.

Foreign Transactions

• Undisclosed Foreign bank accounts.
• Undisclosed Foreign assets or investments.
• Undisclosed overseas income.