Company Registration Mistakes

It has been reported that India is home to the second-largest startup ecosystem in the world. Please consider this. Despite being relatively new in the country, the startup community has already generated close to 20000 early-stage companies, with most of them being technology-driven. Every day, there are 3–4 tech startups born! A number of initiatives have been taken by the Indian government to maintain this rapid growth, such as Startup India. Yet most of them fail to scale and end up failing at an early stage. It’s possible some of this is due to the inability to raise funds (which […]

Documents Required For Shop And Establishment License

Owners of shops or other commercial establishments in India that conduct business must apply for a Shop and Establishment License within 30 days of opening. You can apply for a Shop and Establishment Act License by filing an application in your respective state and it should include the name of the employer, the address of the establishment, the name of the establishment, the category of the establishment, and the number of employees. After the application is submitted and reviewed by the Chief Inspector, a registration certificate will be issued to the owner of the shop or commercial establishment. Whenever a […]

A STEP-BY-STEP GUIDE TO START AN ONLINE RETAIL BUSINESS

Interested in starting your own business? You can get started right now. There are many people who are overwhelmed by learning how to become an online seller. The truth is, it’s not the easiest thing you’ll ever do. However, it’s certainly one of the most rewarding. Before you dive in, make sure you do your research and understand what’s required. After that, you’ll need to apply the old-fashioned “trial and error” method. Being prepared and ready for what’s next is the key to success. This way, you can be confident you are making good decisions that will lead to your […]

How To Start An E-Commerce Business

Once you have taken into consideration all the advantages, your next thought is how to start the business? What would be the brand name? What are the various permits and licenses required to set up the business? The list goes on. Let’s go through each one of these points one by one. 1. Decide what type of business you will run! The giant E-commerce site Amazon offers multiple products and sellers. However, did you know that the same business can also be carried out with only one set of products and one seller? The first order of business is to […]

Retail Industry Definition: Bricks vs. Clicks

There are many kinds of retail, from department stores to coffee machines, from the town square to the digital storefront, from the most promising transformations to the possibility of an apocalypse. Let’s explore the retail sector and its unique characteristics in this post. As a litmus test for an economy’s health, the retail sector is often called one of the most important sectors for a country’s economy. An economy that is working well has high production and, consequently, high consumption, which is mostly focused on retail. Because of this, retail is one of the first sectors to contract during times […]

Documents Required For Design Registration In India

A brief overview In intellectual property law, a design registration protects against counterfeiting of an article created through an industrial process by securing protection against a new design being applied. In exchange for registration, the designer receives exclusive rights to use the design for a period of ten years, which can be extended for another five years. Design Act, 2000 permits the registration of shapes, sizes, patterns, ornaments, or combinations of colors and lines applied to any article. However, in order to be registered, a design must meet the following requirements: Ideally, it should be new and original. In designing […]

You can register for professional taxes online

in our overview State governments impose professions and trade taxes. Professionals who provide professional services, such as doctors, chartered accountants, lawyers, etc., are not exempt from the professional tax. e individuals earning through any legitimate source of income. The tax must also be paid by all business owners. It is the duty of the proprietor of the business to deduct professional tax from its employees and pay the desired amount to the appropriate State Government’s Professional taxation department. Please note that not all state governments levy this professional tax.In accordance with Section 16 of the Income Tax Act, 1961, a […]

what is Inc 20a

In practice, a Cost Accountant or a Chartered Accountant should verify the information on Form 20A filed by company directors upon initiation of the business. An introduction In accordance with the Companies (Amendment) Ordinance 2018, all companies incorporated on or after 2 November 2018 are required to file a certificate of commencement of business. It is one of the most important compliances to follow because the penalties for non-filing are extremely high. Form 20A is a declaration filed by the directors within 180 days of the company’s incorporation date. Those companies that do not have to file Form 20A Form […]

Payroll Management System

There are more payroll mistakes than you think. Think about employees who are dependent upon their monthly salary. How about if the salary is not paid correctly or the salary is delayed? An irregularity may affect the morale of the employees and ultimately affect productivity. Aside from adhering to the various laws and regulations relating to employee payroll, PF, PT, and other statutory compliance, it is important to ensure accurate and timely payment of salaries. These laws carry serious legal and financial consequences for non-adherence. How do payrolls work? It is a list of employees that get paid by the […]