Online food delivery and food kitchens have never been this bigger than it is now. With the growing number of people who are opting to order online, rather than dine out in a restaurant, and the global pandemic has also pushed the growth of this industry as more people are ordering food online. Out of all the brands in the industry, the two biggest that stand out in India are Swiggy and Zomato. With most of the restaurants opting for Swiggy Partner Registration, it seems that the food industry is all set to come on board with the idea of cloud kitchens. Therefore, if you run a restaurant or hotel, probability is that you want to get Swiggy partner registration. Are you not taking an action because you don’t know the process to register with Swiggy? Well if so, then you are at the right place! Here’s everything you are required to know about Swiggy Partner Registration. Growth of SwiggyAs per a study conducted by Statista, the industry of online food delivery will grow about 9.1% in the future years and the worth will be around USD 11,000 million by the year 2022-23. Within India, the biggest players in online food industry are Zomato and Swiggy, which means they have a brilliant future further on. Moreover, such success has led to huge funding being offered to online food delivery platforms. This, in turn, has facilitated several new players enter the industry in India. So much so that Swiggy rose a billion in funding in a week, making it the most valued food delivery business in India. Advantages of Swiggy Partner RegistrationFollowing are the advantages of Swiggy Partner Registration: · Huge customer Traffic – Leading online food order businesses such as Swiggy brings a lot of customer to their website or mobile application and offers the Restaurant enormous revenue. With great deals and price, customers benefit from ordering food online to save money and it directly impacts the business of restaurants in a positive manner. · Marketing The old times are gone where restaurants and food outlets used to publish flyers in newspapers at present this period with advertising automation of free delivery. · No need to think regarding shipping Delivery handling is always a wearisome task. Having orders directly from customers is also a concern. Swiggy is doing just that for the consumers. The main aim of these leading food businesses is to deliver orders timely and to offer excellent order tracking. It allows consumers to examine online reviews so that a well-versed decision can be made. · Commission based In Fee-based services there are fewer chances of losses of any kind. For every order, the food business pays an already fixed fee to the delivery executives. Documents RequiredThe below mentioned are the documents required for Swiggy partner registration:
Procedure for Swiggy Partner Registration Ordering food online is steadily on the rise and this has stir up several food outlets to partner with Swiggy. The procedure to register with Swiggy is given below:
Commission Charged by SwiggyA commission of 15%-25% is charged by Swiggy in developing markets metro cities such as Bangalore and Delhi and in places where an eatery or restaurant is new to the local community. 16% commission must be send to Swiggy by the restaurant or eatery. Meanwhile, 4%-7%commission must be paid to promote a specific restaurant. Conclusion With the growing number of people who are opting to order online, rather than dine out in a restaurant, and the global pandemic has also pushed the growth of this industry as more people are ordering food online. Out of all the brands in the industry, the two biggest that stand out in India are Swiggy and Zomato. With most of the restaurants opting for Swiggy Partner Registration, it seems that the food industry is all set to come on board with the idea of cloud kitchens.
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Khoya or also known as Mawa is a food ingredient that is always in high demand throughout the year and particularly during festivals as it is utilized for preparing several traditional sweets. As khoya is a multi-use ingredient it can also be utilized in preparing different varieties of sweets that are very popular in India such as halwa, kalakand, milk cake, peda, barfi, etc. The Food Safety and Standards Authority of India is the regulating body of food businesses in India that works under the Ministry of Health & Family Welfare, Government of India. FSSAI keeps a check on the standards and quality of food and constantly supervises and provides guidelines to food businesses so that the food is proper and safe for consumption. FSSAI on testing of Khoya quality has issued a notification after receiving several complaints on manufacturing adulterated Khoya. Grounds on which notification is circulated by FSSAI on Khoya Quality TestThe Namkeen and Sweets manufacturer’s federation met the commissioner of FSSAI and reported the concern of Khoya adulteration which was being supplied to them. Subsequently, the Food Safety Department of Delhi conducted a survey under the administration of FSSAI, where from 31st of August to 4th of September 2020 authority placed Food Safety on Wheels (FSWs) in Delhi. Information regarding notification of FSSAI on Khoya Quality TestThe Commissioner of the Food Safety department in all Union Territories and States has requested to select Khoya mandis in their respective States or Union Territories mainly in big cities. Authorities have placed the Food Safety on Wheels for 5 days from 12th of October to 16th of October 2020 in selected khoya mandis and encouraged the Khoya buyers to get the Khoya samples examined under FSSAI on Khoya quality test. Points relating to the New NotificationFew of the points relating to the new notification on FSSAI on Khoya Quality testing are mentioned below:
What is the purpose of quality testing of Khoya?The reasons of FSSAI behind quality testing of khoya are mentioned below: What is the Procedure of testing Khoya Quality?
ConclusionFSSAI on khoya quality test has considered the results of the surveys and has decided to focus on the three major areas: continuous testing, surveillance, and counteractive measures for monitoring the dealers and manufacturers to strictly avoid khoya adulteration.
Food Safety and Standards Authority of India has provided upgraded infrastructure for testing and high end correctness test equipments for continuous surveillance and rapid testing of the same. Furthermore, FSSAI has notified NABL and other public food laboratories for testing of khoya, regulatory measures and conducting surveillance that can be utilized by the states to balance testing. Therefore, FSSAI on khoya quality test has the goal to prevent khoya adulteration and to encourage distribution of safe khoya with the purpose to secure public health and life. Private Limited Company Registration is done under the Companies Act's provisions with the Registrar of Companies (ROC). A private limited company is a company privately maintained for small businesses as there is limited liability for the owner of the business, and it can have a maximum of two hundred shareholders further the shareholders are restricted from trading shares publically. In this article we will discuss regarding company registration in Tamil Nadu. Advantages of Company Registration in Tamil NaduDocuments Required for Company Registration in Tamil NaduFollowing are the necessary documents required for company registration in Tamil Nadu
For AGILE-PRO:
Company Registration in Tamil Nadu - Online ProcessSPICe+ form offers ten different services through three central government departments and ministries, such as the Department of Revenue, Ministry of Labour, Ministry of Corporate Affairs, and Ministry of Finance. SPICe+ form saves time of the applicants as well as the government officials. The forms filed along SPICe+ are AGILE-PRO, SPICe+MoA, SPICe+AoA. Step by Step Process for Private Limited Company Registration:
Formalities for Company Registration in Tamil Nadu
ConclusionA Pvt. Ltd. company is a privately operated small business; it is the most recommended form to start a business in India. The Companies Act, 2013, governs company registration in Tamil Nadu. As per the provisions of the Companies Act, a minimum of two shareholders are required to form a private limited company while the maximum limit for shareholders is two hundred.
Companies that carry out foreign exchange business in India should have an FFMC ( Full Fledged Money Changer) license. Majority of people who travel abroad for different purposes need to exchange their domestic currency into the currency of the country which they are visiting. FFMC license online in India can be taken by submitting the form to respective RBI regional office. What is the FFMC license?Full-fledged money changer license is the license obtained by the company who are intending to carry out business related to foreign exchange of currency or any money related changing activity in India. Section 10(1) of Foreign Exchange Management Act,1999, AMCs ( Authorized Money Changer) are the entities authorized by RBI. Nobody can carry out the business of money exchanging unless they have FFMC license granted by RBI. What are the types of FFMC license?For any entity to operate, the following licenses can be acquired:
What are the activities carried out by FFMCs?FFMC can carry out the following activities;
What are the eligibility guidelines for obtaining FFMC Registration?According to RBI guidelines, the applicant must meet the following requirements-
What are the documents required?Following documents are required;
What is the procedure for acquiring FFMC registration from RBI?Step-1 Apply for FFMC license Submit your detailed application for the FFMC to the concerned regional office of the RBI along with the required documents. Step-2 'Fit And Proper' Criteria Applicant should fulfil fit and proper criteria which means there should not be any pending proceedings. Step-3 Review Of Application By RBI The RBI will review the application for fit and proper criteria for the applicant company director. If the RBI find the form fit, the application will be considered. Step-4 Certification for Registration If RBI is satisfied with the application and everything is fine, the RBI will grant the license within two or three months. Step-5 Clearance By Empowered Committee The applicant requires approval from the empowered committee, set up for the purpose. Annual Compliance Requirements for FFMC
ConclusionIt is necessary to obtain an FFMC license if anyone wishes to carry money exchange business in India. The FFMC registered by the Reserve Bank of India deals with foreign exchange for the explicit purpose like the purchase of foreign exchange from the residents and non-residents visiting India. And you need to follow the requirements and compliances after obtaining the FFMC license online in India.
A Microfinance Company is a financial institution that assists the low income groups with finances. Low income groups mean a sector where there is lesser financial requirement than other sectors of the society. Such sectors don't have an access to traditional financial institutions. Let's know more about this company. What is the significance of a Microfinance Company?Well, India needs more of Microfinance Companies as it serves various purposes. Some of them are as follows:
Formation of Microfinance CompaniesIt may be noted that an NBFC is authorized by the Reserve Bank to conduct financial business. However, there are certain exemptions that are provided by the Reserve Bank to perform financial activities. Hence, the registration of this company can take place through-
What are the essential requirements for Micro Finance Company Registration?In order to register as a Micro Finance Company through an NBFC or a Section 8 Company, the following requirements must be fulfilled:
Process for Registration of Microfinance Company as an NBFCThe following is the procedure for Registration of Microfinance Company through an NBFC:
Documents required-
Process for Registration of Microfinance Company as a Section 8 CompanyThe following is the procedure for Registration of Microfinance Company through a Section 8 Company:
Documents required-
Advantages of Microfinance Company in IndiaThe advantages are as follows
ConclusionWhile making a decision regarding whether to register the Microfinance Company as an NBFC or a Section 8 Company, consider all facts and then move forward with the registration process. You are advised to seek the help of a professional in this regard who can guide you better in your decision making.
Mergers and Acquisitions are transactions that engaged the combination of two or more organizations into one organization. A merger means the combination of two or more entities into a single entity, whereas an acquisition means where the company gets another entity for increasing its resources and technology. But in terms of implementation, they both are different. Mergers and Acquisitions process includes all the steps from the beginning to end in merging and acquiring a company that includes researching, closing, planning, and activities. In this blog, we discuss the process and benefits of Mergers and Acquisitions. Different types of Mergers Following are the different types of mergers:
Following are the different types of acquisitions:
Following is a list of some roles and responsibilities in the Mergers and Acquisitions Process:
Following are some essential benefits of Mergers and Acquisitions that you can avail after completing the process:
Below are the steps involved in the procedure of Mergers and Acquisitions:
Mergers and Acquisitions mean transactions between two companies that combine. These transactions can be divided by type (horizontal, vertical, conglomerate) or form (statutory, subsidiary, consolidation). It may be noted that Valuation is an essential part of Mergers and acquisitions, and it's a significant point of discussion between the acquirer and the target. Let us first understand the meaning of Legal Process Outsourcing, or LPO is a practice in which a law corporate gets legal services from an external law firm or a provider of legal process outsourcing. Typically, all the corporate houses which are located in the United States of America, the United Kingdom, and Europe outsource their legal work to less expensive countries; meanwhile, the lawyers are pretty expensive in these countries. By outsourcing the legal work, these corporate houses save many costs that could have been spent on legal work. India is the most famous and required country for outsourcing legal work. The Legal Process Outsourcing or LPO sector is growing hugely in India, and most of the investors want to enter in Legal Process Outsourcing sector. Future of Legal Process Outsourcing in IndiaA research firm which is located in the US finds that Legal Process Outsourcing or LPO can bring four billion dollars and almost 80,000 jobs in India in the next ten years and enhance the knowledge process outsourcing. On the other side, the NASSCOM expected that LPO providers in India would soon rise to three billion dollars. In 2004-05, India earned 6.7 billion dollars by providing LPO services in technology, software, and manufacturing outsourcing. In view of US associate lawyers' amount in between $225 and $450 per hour, India becomes an ordinary choice. Five of the twenty-odd domestic KPO firms have established themselves and are tapping skilled legal professionals to handle the outsourced work. In a different report, 'Offshoring Legal Services to India,' Value Notes, a leading provider of intelligence and research services, it was estimated that the sector employs around 1,800 professionals and expects this to grow to 24,000 in 2010. By the end of 2020, the Legal Process Outsourcing or LPO market will grow 8,568 million dollars. Cost-effectiveness and quality through outsourcing legal activities may cause growth for the market over the next six years. Moreover, LPO facilitates higher resource utilization and stability, which is expected to boost industry growth over the estimated period. Benefits of Legal Process Outsourcing in IndiaFollowing are some essential benefits of Legal Process Outsourcing in India
Why India is the best opt for Legal Process Outsourcing?Following are some reasons why major countries choose India for outsourcing legal work:
Project Viable for outsourcing to IndiaNotable projects like secretarial support, transcription, word processing, and voice messaging are being outsourced to India. Several back-office & administrative functions are being taken into consideration for offshore servicing. It entails:
What are the pricing models used by LPOs?Following are the pricing models used by Legal Process Outsourcing:
ConclusionOver the years, outsourcing services have enabled companies to increase their efficiency and bring economic growth to highly competitive businesses. Outsourcing in the legal field, known as Legal Process Outsourcing (LPO), has also proved cost-effective and has helped law firms focus on core business areas. Outsourcing of legal work to India started way back in 1995 when India was thought to provide various advantages to foreign companies in efficiency and costs.
On 2017 the Government of India introduced GST (Goods and Services Tax) as India's best and biggest tax. GST applies all over India by both the Central Government and State Government. But as an entrepreneur, it isn't easy to understand the in-depth concept and structure of GST that an entrepreneur must be aware of it. In this article, we discuss the essential things of GST that you must know for your own business and GST Registration in India.
About GST Registration As per the GST regime, it is mandatory to get GST Registration for those businesses whose turnover is more than Rs. 40 Lakhs (Rs. 10 lakhs for hill states and the North-East States). If any businesses in India found without the GST registration, then it will be an offence, and heavy penalties will apply. If any business in India applies for GST, then a 15-digit number will be assigned to the business which is known as GSTIN (Good and Services Tax Identification Number). There are three components of GST, and you can check the same from below:
Following are some benefits of GST Registration that you must know for your own business:
Once the GST registration is done for the business or entity, then the next step is to identify the tax rate which needs to be charged on the goods or services which are to be supplied, and you can check the tax rates by visiting the official website of GST. The rate of tax on goods is mentioned with its HSN (Harmonious System of Nomenclature) code, and this code is given to that specific good. Whereas, the tax rate for services is mentioned with its SCN code. For an accurate tax of GST rates, correct HSN or SAC code is mandatory during return filing. Charges of GST on every invoice After the GST registration, the GST should charge on every invoice issued along with the GST number, and it is compulsory to mention GST number by every taxpayer providing the taxable services. In case of the intra-state supplies, the supplier has to charge SGST (State Goods and Services Tax)& CGST (Central Goods and Service Tax) and for the inter-state supplies on the respective invoice. GST payments and filing GST Returns Once the GST registration is over, then the last step is to pay the tax and file the GST returns on the official website of GST. All the taxpayers must file returns monthly and pay the taxes monthly. But in the case of small businesses whose turnover is up to Rs. 5 crores can file the returns quarterly, but the payment of tax has to be made monthly. As per the New Return System, there is only one return GSTR-1 and GSTR-2 annexures GST ANX-1 and 2. Conclusion After the implementation of GST, it becomes boon for all the entrepreneurs, and in India, small enterprises or businesses are the essential things to boost the economy of India. Before the GST, there are various taxes which creates instability in the business, but after the GST regime, all the taxes come under GST, which helps all types of businesses in India. An NGO (Non-Government Organization) can apply for both 12A and 80G Registration. NGO can apply for 12A certification for tax exemption and 80G certification for donor's tax exemption. Also, the validity of 12A and 80G Certificate is for a lifetime.
What is an 80G Registration? 80G Certificate is issued by the ITD (Income Tax Department) to an NGO. In this certification, the donor can avail of financial benefits in his taxable amount of their income. The donor gets 50% of the tax exemption whenever they make donations to any charitable trust. The donor needs to attach the stamped receipt of the donation made in order to avail of the exemption. What is a 12A Registration? It's a one-time tax exemption provided to the NGOs, Trusts, and Section 8 Companies. If any Trusts or NGOs are not registered under Section 12A, Income Tax Act, they have to pay tax as per normal rates. When can you apply for 80G and 12A exemption certificate? You can immediately apply for an exemption certificate under section 12A and 80G after an NGO's Registration. You can also apply the 12A and 80G Certificate together or separately. The application under Section 12A needs to be applied under Section 80G. Eligibility Criteria for 80G and 12A Registration Check the following eligibility criteria before the Registration for 80G and 12A certification: 1- The NGOs should be registered under the Act. 2- Not applicable to the Family Trust or Private. 3- They should be a charitable trust or a registered society. 4- They must not have any income generated from a business. 5- Maintain a regular book of accounts in favour of their expenses and receipts. 6- Anyone working for the benefits of any particular religion or caste should be not eligible for the Registration. 7- In the case of business-related, income they should maintain a separate book of accounts. All the donations received by the NGOs must not be used for such businesses. What are the benefits of 80G Registration? Check all benefits of the 80G Registration form below: Donor Tax Exemption: In this Registration, the donor can avail of the tax deduction from its income by giving a donation receipt. Attract Donors: It attracts the donor to donate any charitable trusts. What are the benefits of 12A Registration? Check all benefits of the 12A Registration form below: 1- You can avail the tax exemption from your income. 2- You can also receive grants from the Government and various private sectors or agencies. 3- Benefits of FCRA (Foreign Contribution Regulation Act) Registration. Documents required for the 80G Registration The documents required for the 80G Registration is mentioned below: 1- NOC from the owner of the registered office. 2- MoA, Trust Deed, and the Registration certificate. 3- Copy of the PAN card of the NGO. 4- Form 10G 5- List of the donors along with their PAN and address proofs. 6- Copy of latest water bill, electricity bill, or House Tax receipt. 7- Balance sheet or Income Tax Returns, statement of accounts of the last 3 years. 8- A detailed list of the Trustees. 9- Progress report and the list of welfare activities of the last three years. Documents required for 12A Registration 1- The documents required for the 12A Registration is mentioned below: 2- Trust Deed of Trust Registration Certificate, and Memorandum of Association (MOA) of a society. 3- For section 8 companies, they need to submit the copies of AoA and MoA of the companies and Certificates of incorporation. 4- Bank statement of the Trust for the last three years. 5- Form 10A. 6- PAN of the organization. What is the procedure for 80G Registration? 1- Follow these steps to get 80G Registration done. Before the Registration, first, make sure that you have all the required documents for 80G Registration, as mentioned above. 2- Apply for 80G Certificate to the Commissioner of Income Tax along with the required documents. 3- Then, inspection is done by the Income Tax Department, and the required documents are submitted for 80G Registration. 4- If Income Tax Officials find anything missing, they might ask for some extra or additional documents. 5- After the successful verification of the NGO's office and all the documents, the Commissioner of Income Tax will issue the80G Certificate. What is the procedure for 12A Registration? 1- Follow these steps to get 12A Registration done. Before the Registration, first make sure that you have all the required 12A Registration documents, as mentioned above. 2- First, apply the Form 10A, as per Rule 17A of the Income Tax Act, 1961. 3- You need to fill the application under the guidelines of the Jurisdictional Commissioner of Income Tax. 4- Then, inspection is done by the Income Tax Department, and the required documents are submitted for 12A Registration after the form is received. 5- If Income Tax Officials find anything missing, they might ask for some extra or additional documents. 6- After the whole process, the Commissioner passes an order for the grant of 12 A certificate. The Commissioner will reject the application form if he/she discover anything wrong. Conclusion 12A and 80G Registration is very helpful in different ways, such as it attracts more donors; it also helps raise the fund from the Government, builds Trust, and so on. The donors can avail of the tax deduction benefits from their income by giving a receipt of donation. All these changes help to avoid any tax evasion and malpractices related to it. The Patent Registration is a procedure to file the application to register the device or gadget under the Patent act in India. It helps the owner of the patent to control the product monopoly for a particular period on the development. This right excludes other forms using, making, selling, importing, processing, and others within the country without the consents of the patent owner. Simple Procedure to Register Patent Filing the application of patent in the patent office is critical steps securing the patent to the invention. You should submit the application form to the patent office. You can also submit the application online. They charge ten percent extra fees if anyone have filed the application offline. By following the below-given steps you can register the patent in India.
Benefits of patent registration
The Patent Registration offers a huge range of benefits to the application such as Patent valid for more than ten years, transfer or sells the patent legally, a patent protects the invention and others. The patent is available in different types such as plant, design, utility and much more. You can pick the right patent according to your needs. It protects the invention and also prevents anyone to utilize the patent without permission. Registering the patent is cost-effective and simple. Without the technical knowledge, you can fill the patent application online and get the pattern approval faster. The invention gets a strong protection for a certain period that helps the patent owner to protect the invention from the competitor. The registration of the patent allows the individual to sell and transfer it securely and legally. It will help to improve revenue. Are you planning to start a business related to the food industry? You must have a food standard and security authority of India (FSSAI) certificate. This license assists you to maintain a quality level of food products. It reduces risks and increases the accountability of food manufacturers. It allows businesses to undergo quality check before supplying goods and service to customers. The validity of the license will be offered based on how long you applied for. It helps businesses to solve all related issues in different department and ministries. Importance of the FSSAI license: This license enhances and protects food quality and supply hygienic foods to clients. Different kinds of license are issued by an authority which includes central license, basic registration, and state license. The license is important for various food activities such as packaging, process, manufacture, storage, and distribution. The certificate is offered by food authority. It ensures you offer satisfaction and secure goods to consumers. The registration process of FSSAI:
It is vital for business that operates restaurants, dairy, canteens, bakeries, hotels, and others. It helps businesses to create trust and strong relationship among customers. It gives lots of benefits to business owners. However, it assists you to avoid penalties to renew your license. If you want to get FSSAI license, then undergo registration by following below instructions. It takes less time to complete entire registration process.
CSS of Enterslice.com is very clean & appealing. Website has video banner that will play after confirmation of the user. Menu bar has its category services inside the headings. Contact information is appearing at very top of the website. Website is award winning fintech advisory firm based in India. They are not only into one person company but also provide top Finance, Business Registrations & Taxation services across the country.
Consultancy firm provides Merger and acquisition advisory services provide advice on corporate mergers, acquisition, divestitures, debt and equity financing. It involves private companies with legal, business, human resources, intellectual property, and financial issues. To successfully navigate the sale of your company, the M&A will help you to understand the dynamic problems that frequently arise. In this article, we will discuss M&A in detail. Why you need merger and acquisition advisory firms? There can be several scenarios to consider the M&A firm:
It works as follows:
Guidelines for merger and acquisition
Here is the guidance:
By reading the entire article, we must say that the M&A helps on the advice of the business. M&A advisory firms maintain the structure as the whole of the company by avoiding the drawbacks that face in the business. In case you are still confused, kindly contact Enterslice. Malaysia is becoming one of the prime destinations in Asia for company registration. Company registration in Malaysia is the right idea because it provides vast opportunities in doing business. A foreigner can register a corporation in Malaysia with the 100% foreign ownership by following all the terms and the condition by the Malaysian government. What are the advantages of company registration in Malaysia? These are various advantages:
First, you must decide the business structure such as:
What are the requirements for company registration in Malaysia?
Here are the requirements:
Here is the procedure:
No doubt that setting your company in Malaysia is the great idea. First you have to decide the company structure and fulfill the entire regulatory requirement by the Malaysian government. In case you are looking for more information, kindly contact Enterslice. Source by: https://penzu.com/p/0ef12858 The simplest meaning of Tax Audit is an examination of your tax return by an IRS (Indian Revenue Service) officer. An IRS officer will verify your income and also verify the deduction in profit that it is accurate or not. For example, some taxpayers may keep their cash income confidential that may lead to tax penalties. This topic is covered under section 44AB of The Income Tax Act, 1961. Now let's discuss about Tax Audit in detail Objectives of Tax Audit in India These are the various objectives: • An analysis of the accuracy of income tax returns. • It checks the malpractice and fraud in filing income tax returns. • It ensures proper maintenance and correctness of accounts by the tax auditor. • It practices the mythological examination of accounts. Who is covered by Tax Audit in India? These are certain classes: • A business owner with gross receipts, turnover or total sales exceeding Rs. 1 crore. • An owner who has opted for the taxation scheme with the receipt, turnover or total sales exceeding Rs. 2 crores or more. • A taxpayer whose business is eligible for taxation and claims the profits that is lesser than the prescribed limit under the taxation scheme. • The owner who has qualifies the presumptive taxation scheme but decided to opt out after a specific period. Then he or she will lose the ability to revert to the likely taxation scheme for the term of five years of assessment. • A professional employee i.e. engaged in any profession and his or her gross receipts in a year are of Rs. 50 lakhs and above. • An employee of an organization who is eligible for paying tax and he or she claims the profit that is less than the prescribed limit under the taxation scheme. Are you still confused on who all are covered under Tax Audit, then contact our team to know more on this. Why do taxpayers receive Tax Audit penalty?
There are different reasons for receiving tax penalty: • Citizens ignore the rules and the regulations prescribed by the IRS. • A person who keeps his or her tax payment under reported. • Misstate the value of his or her property by an individual. • A citizen fails to pay the tax by the deadline. • A person keeps confidential the gift or the estate. • The business owner who keeps the other reportable transactions under reported. What is the process for filing the Tax Audit report? Here is the procedure: • The C.A. (Chartered Accountant) hired for conducting the audit of an individual or the organization to present the tax audit report online using his or her official login credentials. • The taxpayer has to mention the relevant information of the C.A. in their login platform. • Once the audit report uploaded by the auditor, it has to either accepted or rejected by the taxpayer on their login platform. If the taxpayer rejected the audit report, then the entire story has to be repeated until he or she accept the audit report. • The report of the income return has to be filed before 30th November because it is an assessment year of the taxpayer and 30th September for other taxpayers. If you are willing to file the tax audit report then contact Enterslice Conclusion We could say that the importance of the tax is essential for the economical development of India. The government of India is very strict for the rules and the regulations under tax audit. Defaulters should face the penalty if they don't return the fee. Hence, a business person must run their business with honesty. For more information contact us at Enterslice. Here is the Logo of Enterslice.com. Logo is designed by experience graphic designer. Logo is appearing in the middle side at very top of the website. It is designed in three royal colors & text shape. Enterslice.com is Leading Fintech Advisory firm based in India. They deals in providing services like LLP Registration, legal due diligence, payroll outsourcing & More…
An LLP or limited liability partnership is the partnership between the partners of the company having limited liabilities. In a limited liability partnership, partners of the company are not liable for the negligence or misconduct of the other partner. LLP registration is enacted by the legislature under the Limited Liability Partnership Act, 2003 with an objective to introduce a type of business organization that is easy to manage and still have all the benefits of better credibility and limited liability. Basic features of LLP registration
How to start a Limited Liability Partnership?
There are some specific steps you need to follow to start a limited liability partnership. If you require assistance at any step of the process, you can contact our legal advisors at Enterslice. Step 1: Choose a Name Before starting any company it is important to decide an appropriate name for it. Make sure you choose a name that can be easily distinguished from the other business of your state. Other than that, many of the states demand inclusion of limited liability partnership or LLP at the end of your company name. Step 2: Draft an Agreement for Your Company It is highly recommendable to draft an agreement before starting a Limited Liability Partnership Firm. It defines the roles and responsibility of all the partners along with the assets and liability limitations of each and every partner. The agreement should also cover all the points related to the distribution of profits and loss, capital contributions, etc. Step 3: File for LLP Registration It is mandatory to file for a registration certificate to build up a limited liability partnership firm. For this, you can hire our legal Enterslice advisors that can help you from tip to toe to get a registration certificate within very few days. You require the following documents for the LLP registration:
All these steps are needed to follow to start up a limited liability partnership firm in India. A partnership deed is an optional document, but the LLP registration certificate is mandatory to operate an LLP business in India. In simple words, Audit is the term which is used for the official inspection of the accounts of an organization and production of the report on the basis of the account information by a systematic review or an independent body or assessment of the things.
There are several kinds of audits that are conducted under some specific laws like company audit conducted under the provisions of company law. In the same manner, tax audits are mandatory under the income tax law. It is basically a review or the examination of the accounts of a business from the view point of an income tax carried by a taxpayer. What are the Main Objectives of a Tax Audit? Tax audits for companies are very beneficial and can be used from time to time. Here are some of the objectives to maintain a proper tax audit report:
How to do Tax Audits? Tax audits are furnished as tax audit reports through the Chartered Accountant (CA). CA furnish the tax audit reports online through his log in details. Taxpayers have to add the details of their CA in the login portal. After the report has been uploaded by the tax auditor, the taxpayer has the full rights to accept or reject the tax audit report in their login portal. If the reports are rejected by the taxpayer, tax auditors need to follow the whole procedure again until it gets accepted by the taxpayer. It is important to file the tax audit reports before the due dates of filing the income returns. What are the types of Tax Audit Report Forms? Tax auditors need to furnish their reports in the form of 3CA or 3CB forms. Form No. 3CA: It is for the professions or business for whom it is mandatory to get their accounts audited under the other laws. Form No. 3CB: It is for the persons who carry out their business without getting their accounts audited under the other laws. Note: In some cases, tax auditors have to furnish their reports in the form of 3CD form. Is there any kind of Consequences for Non-compliance? Yes, taxpayers need to face the penalties for the non-compliance of their tax audits. If a taxpayer fails to do tax audits, lower than 0.5% of their total sales have to face penalties. While if there is any kind of reasonable cause of non-compliance of tax audits, the taxpayer may be imposed from the penalties. To know more about your tax audits kindly contact Enterslice which has a team of expert to guide you further on this. There is a vast difference between National Small Industries Corporation (NSIC) and Micro Small Medium Enterprise(MSME).
Difference Between NSIC and MSME on the Point of Definition NSIC stands for National Small Industries Corporation. NSIC is a Public Sector Undertaking established by Government of India in 1955. NSIC was established to promote and develop micro and small scale industries and enterprises in the country. MSME stands for Micro Small Medium Enterprise. MSME acts as an engine which helps in the growth of the economy and promoting equitable developments. The Functional difference between NSIC and MSME On the point of Functions, NSIC and MSME differ from each other. Main functions of NSIC are to provide machinery on hire purchase scheme to small scale industries however the functions of MSME are totally different. MSME focuses on providing support in the fields of credit, marketing, technology and infrastructure of MSMEs. Difference Between NSIC and MSME on the point of Validity of Registration Certificate So far as the validity of the certificate is concerned, you can a find a huge difference between NSIC and MSME. The NSIC Registration certificate granted to Micro and small enterprise under Single Point Registration Scheme is valid for only 2 years but same is different in case of MSME. MSME registration certificate is valid for lifetime. Conclusion It is very clear that there are so many aspects which distinguish MSME and NSIC. If you want to know about more differences between these two government bodies, then kindly contact Enterslice to get most satisfactory and affordable service. What Is Trademark Infringement? Trademark registration gives you the exclusive right to use it. You are the owner of your brand and no one has the right to use it and mislead the customers. However, if you are misusing the registered trademark, your trademark is infringed. Yes, you read it correct that is ‘Infringement’ where the registered trademark is used by the third party without the permission of the owner. It creates the confusion in the mind of the customers. What Constitutes the Trademark infringement?
What Are the Remedies Available For trademark infringement?
Under the trademark Act, civil and criminal remedies are available for protecting the plaintiff’s exclusive right of the registered trademark Civil Remedies: Under this the court can pass the Interim Injunction order for the appointment of local commissioner for search and seizure of the infringed goods/services and restraining the infringe from disposing of the goods/ services Criminal Remedies: Since Infringement of a trademark is a cognizable offence and criminal proceedings can be initiated against the infringes. Under the Act, In case of a criminal action for infringement of registered trademark the offence is punishable with imprisonment for a term of min six months and max three years and with fine of min INR 50,000 and max INR 200,000. Click here to know more about this Non-Banking Financial Companies are financial institutions that provide banking services without meeting the legal definition of a bank. In this blog, we will discuss the meaning of NBFC, it's functions and all other aspects of Non-Banking Financial Companies. What is Non-Banking Financial Company all about? Non-Banking Financial Company is incorporated under the Companies Act, 1956 or the Companies Act.2013 which is engaged in financial activities comparable to that of a bank. Non-Banking Financial Companies are financial institutions that provide banking services without meeting the legal definition of a bank. Non-Banking Financial Companies can raise funds from the public directly or indirectly or can freely lend them to spenders. Non-Banking Financial Company is very popular due to attractive interest rates on the deposits of investors. Functions of NBFC
Non-Banking Financial Company has a great financial impact on the Indian economy. Non-Banking Financial Company focuses on business related to loans and advances, acquisition of shares, stock, bonds etc issued by Government or any local authority. Non-Banking Financial Company aims for economic development of our country. Circumstances where the one person need help in the matter of Non-banking financial companies? Following are the circumstances under which people may need help in the matter of Non-banking financial companies:
Well, the topic seems quite interesting. It's indeed true that BIS certification helps industrial professionals gain more business and generate revenue, but the question arises, how? Before we stumble upon this enigma and make efforts toward finding the solutions, it's important to understand what BIS certification means. So let's get started- What is BIS Certification? BIS certification is a government regulated body to ensure that the products served to the public are of good quality and safe to use. BIS stands for Bureau of Indian Standards which maintains quality, safety, and reliability of products in India. What is the Purpose of BIS Certification? There are several reasons the government of India introduced BIS and made it essential for goods provider to obtain. BIS certification serves the following purposes:
How can BIS Certification help you Attract More Businesses?
And the answer to the same is quite simple and obvious. When you obtain BIS certification of the products you deliver, then it guarantees new thrust to standardization, quality control, safety and reliability of the product for the consumers of India as well as globally. Nowadays, consumers have become smarter, and they look for certain certifications before buying any product. BIS certification creates consumer awareness and hence, brings more consumers to the business. Similarly, there are a plethora of reasons BIS certification can result fruitful for your business and help you generate good revenue. For more information on the same, contact Enterslice. We are one of the leading BIS certification consultants that provide certifications to its clients without any hassle. Can you imagine how easy a new company registration procedure in India is? If yes, then you can surely proceed with the steps. In case, if it's a NO, then let us let tell you with the help of a trusted and leading consultant in the market, you can easily enroll your new company under the Companies Act, 2013. Enterslice is India's no. 1 company registration consultant. It not only helps people to register their company but also aid them with the after-effects of company registration. It also helps you with ITR (Income Tax Returns) filing, annual returns, TDS returns, etc. within a stipulated time so that you won't be subject to any penalty. In this blog, we will mainly discuss the procedures for online company registration in India, documents required, and essential compliances to be kept in mind. So, let's get started and find out more on new company registration. 4 simple steps to Company Registration in India If you're reading this blog, then you must be curious to know how to register a company in India. So, once you're determined to register your new company, contact Enterslice and we will support you throughout the process. You only need to submit the self-attested documents to us, and we will, then, file an E-form on the MCA's official website and will proceed with the process. Apart from this, you need to follow just four simple steps described below: Step1: Every Director and Shareholders are required to obtain DSC DSC, known as the Digital Signature Certificate, is expected to be procured by every director and shareholder of the company for filing online company registration. Once the certifying authority issues the DSC, directors can also use it to file ITR, annual returns, etc. Step2: Company name approval Company name plays quite a vital role in company formation because it distinguishes your company from others. The name must be unique and shouldn't match with any existing name in the same or similar business class. Being an applicant, you can apply for name approval in two ways: either through filing a SPICe or through RUN (Reserve Unique Name). In RUN service, you can propose a maximum of two names. If the name is unique and abides by specific required laws and rules, then the Registrar of Companies (ROC) will approve it. In case of objection, you will get a second chance for proposing different names. Step3: Filing a SPICe or Form INC-32 Typically, a SPICe is a single form that can be filed to obtain DIN (Director Identification Number), PAN and TAN of the company, CIN, and Certificate of Incorporation. This form is submitted along with the e-forms for MOA (Memorandum of Association) and AOA (Articles of Association) with the following attachments: Necessary documents for company incorporation in India 1. From Members and Directors (Self-attested) • PAN card and Aadhaar card of members and directors; • Election ID card/Passport/Driving License; • Scanned photographs; • Latest Bank Statements that must not be older than 30 days. 2. For Registered office • Rent agreement on the name of the company and NOC from the property owner; • Latest Utility Bills not older than 30 days. Step4: Final incorporation via SPICe Once ROC has scrutinized the e-forms and documents, they will issue a CIN (Corporate Identity Number) along with the company's Certificate of Incorporation. Essential compliances after company registration After company registration, everybody needs to follow certain compliances as follows:
Hence, company registration procedure in India becomes pretty easy if you prefer a better consultant in the market. If you're going to establish a company, then registering it isn't the only thing required. But following its compliances is also the part of the company registration process in India. If you're looking for a consultant for the same, then unhesitatingly, contact Enterslice. Singapore is considered to be global financial center and that is the reason a lot of people around the world are relocating there with business objectives. However, relocation is not the only possible option. You can set up your business in Singapore through Singapore company registration. In Singapore, Accounting and Corporate Regulatory Authority (ACRA) regulates business entities and public accountants. This Authority regulates Singapore company registration and is responsible for their overall development. ACRA has the power to take actions like imposing fines and court orders in case of any non-compliance on the part of any company. .What is Singapore Company Registration Procedure?
For Singapore Company Registration following simple steps are required to be followed: Step 1: Name Selection Before you plan start the Singapore Company Registration procedure it is required that you finalize a name for your proposed company. The name must be selected considering the following factors;
Once name is selected file for name reservation on the official website. Reply to the name reservation application for Singapore company registration can be expected in 1 or 2 days. Step 3: File Incorporation application Once name is reserved by the authority it will be valid for a period of 60 days. The applicant is required to submit the application for Singapore company registration within that time span. For more information Click here. |