Posts Tagged: compliance

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Legal Compliances every Start-up should know

The Indian startup sector, which redefined the statistics in the aftermath of the pandemic, has the potential to be the 'engines of growth'. According to the Nasscom Tech Start-up Report 2020-21, India has 38 unicorns-startups with a valuation of more than $1 billion.

Legal

5 Important Compliances for your Startup

For the past few years, India has seen a substantial rise in the development of Startups trying to establish their identity in the financial market of the world. With many ambitious projects coming up, it becomes necessary that such new emerging businesses, however small or big they may be, conform to the laws, rules and regulations of the land.

Tax Club

Regular Scheme Under GST: Composition Scheme

Goods and Services Tax Act, which came into effect on 1st July 2017, has now replaced most of the indirect taxes in India, with a single tax.

Legal

Benefits of Startup Registration

As the governments of the day have started to recognize the importance of entrepreneurs and the businesses and intent to actively support them, we are now entering an era of innovations. As the Indian government is coming forth with multiple initiatives, the environment for starting up is growing warmer each day. It is only smart to stay updated about the government policies and plan accordingly.

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An exhaustive explanation on FORM MGT-14

When a company is planning to start up, the first step is to incorporate the business with the Registrar of Company (ROC). Companies incorporate themselves with the RoC because it is the body governing the companies and has to mandatorily keep information about companies. Therefore, every company has to notify ROC about the significant steps taken by the company by passing any resolutions at the Board meeting or by entering into an agreement.

Legal

Patent Registration Under Patent Cooperation Treaty

The creative work of the human mind is kept safe through several measures and the main motivation for the same is the encouragement for the creative activity. Several forms of protection of the creative activity have come about including those which are of particular interest in the industrial development. Patents being one of them.

Tax Club

Tax Collected at source

Tax Collected at Source or TCS is a direct tax implemented by the seller on the buyer of certain goods. TCS is an income tax collected according to the provisions mentioned under Section 206C of the Income Tax Act, 1961. TCS is applicable on the purchase of only certain specified goods mentioned in the Act.

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TAN :Tax Deduction and Collection Account Number

Our everyday life from birth till death is connected to this one thing. Let the guessing start.

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All About Director Identification Number

DIN stands for director identification number; it is a unique number allotted by central government to any person intending to be a director or is an existing director of any company. It is an 8-digit unique identification, which has lifetime validity. Through DIN details of the director of company are maintained in database.

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NBFCs and their Registration Process

A Non-Banking Financial Company (hereinafter referred to as NBFC) is an entity that provides banking and other lending services but does not come under the legal definition of a bank. An NBFC is incorporated under the Companies Act, 1956 or the Companies Act, 2013. All NBFC’s are necessitated to procure a ‘Commencement of Business’ certificate from the Reserve Bank of India (hereinafter referred to as RBI) as provided under the provision of Section 45-IA of the RBI Act, 1934. Further, they cannot commence any business as a Non-Banking Financial Institution without procuring a ‘Certificate of Registration’ from the RBI. The NBFC Registration and License may be obtained in 90-120 days.

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The Start-up India Scheme

The Government of India initiated this campaign “Start-Up India” on 16th January 2016. This campaign was initially announced by Prime Minister, Mr. Narendra Modi during his presence at Red Fort, New Delhi on 15 August 2015. This action aims at following three objectives:

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Internal Audit

Internal audits are subjected to company’s internal controls which includes corporate governance and accounting processes. It operates and manages legal compliance along with efficient financial reporting and collection of data. It also helps in maintaining operational efficiency by identification of problems and reforming lapses before they get discovered and identified in conduction of external audit. It is a way which provides an opportunity for firms to undo their wrongs and work effectively. It essentially focuses on possible areas for reformation and how that can be strengthened. Also, adding value to firm’s governing mechanism.

Legal

Registration of a Public Limited Company| Explained

A public limited company is an incorporated business and is said to be a separate legal entity from its owners like that of the Private Limited Company. Shareholders are termed to be its owners and they enjoy the benefit of the limited liability. The limited liability is a benefit to each of the shareholder of that company. According to Section 3(1) (IV) of Indian Companies Act 1956 that ‘’a public company is not a private company” also the articles do not restrict the transfers of shares of the company. There is no restriction on the maximum number of the companies. It invites general members and public to purchase the shares and debentures of the company. If one wants to register a public company there are many advantages or benefits related to the registration of a public Company which are -

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Difference between MoU and Letter of Intent

Memorandum of understanding abbreviated as MOU and letter of intent as LOI, are two different terms but they somehow seem similar and people often get confused over it. This article tries to explain the difference between the two.

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Annual Mandatory Compliance for LLPs

LLP or Limited Liability Partnership is a body corporate which has its own legal identity. It has a common seal and perpetual succession. A minimum of two partners are required to form an LLP though there is no cap on the maximum number of partners that it can have.

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Registering a PVT LTD Company

Private Limited Company, the most mainstream lawful structure for perpetuating a business. It is simple to form an entity in India. For this one should simply enrol the directors who are the face of the company with the Ministry of Corporate Affairs (MCA). The name of the organization must be enlisted and present the organization incorporation documents that includes the Memorandum of Association and Articles of Association. A private limited company must have at least two individuals and a maximum of 200 individuals. The whole procedure of registration takes around 10 to 15 days.

Legal

All About Anti-Competitive Practices under Indian Competition Law

Anti-competitive practices refer to an all-embracing range of business practices in which a firm or group of firms may fit into place in normalize to restrict inter-firm competition to keep up or amplify their family member market place and profits lacking necessarily providing goods and services at a lower cost or of elevated eminence.

Legal

Annual Mandatory Compliance for PLCs

Generally, people opt for private limited companies due to less formality. It is the most popular and well-known form of start-up. However, some of the mandatory compliances which are pre-requisites are needed to be followed every year.

Posts Tagged: compliance

Legal Compliances every Start-up should know

5 Important Compliances for your Startup

Regular Scheme Under GST: Composition Scheme

Benefits of Startup Registration

An exhaustive explanation on FORM MGT-14

Patent Registration Under Patent Cooperation Treaty

Tax Collected at source

TAN :Tax Deduction and Collection Account Number

All About Director Identification Number

NBFCs and their Registration Process

The Start-up India Scheme

Internal Audit

Registration of a Public Limited Company| Explained

Difference between MoU and Letter of Intent

Annual Mandatory Compliance for LLPs

Registering a PVT LTD Company

All About Anti-Competitive Practices under Indian Competition Law

Annual Mandatory Compliance for PLCs

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