GST Registration, GST Registration Procedure,IEC Registration, TDS Return filing, MSME Registration, Drug License, Tax Audit, trade license, RERA Registration, NGO Registration,Shareholders Agreement, Investor Pictch Deck, memorandum of understanding, Franchise Agreement, Joint Venture Agreement, founders agreement, investment term sheet, share purchase agreement, master service agreement, service level agreement, vendor agreement, consulting agreement, legal notice, gift deed, rental agreement, sale deed, non disclosure agreement, will document,business plan Consultant,EPF Registration,ESIC Registration,section 8 company registration,society registration,income tax return filing,eating house license,Political Party Registration
GST stands for goods and services tax which is a newly implemented tax rule that unifies all the other individual taxes making it more concise and convenient. GST registration is a mandatory requirement for the taxpaying entities. By rule, if your annual turnover of the business you run goes above the amount of Rs.20 lakhs then you must compulsorily get GST registration. Exception for the special states like Jammu and Kashmir, north eastern states and other hilly states that they must get GST registration if their turnover exceeds the amount of Rs.10 lakhs. For all these mentioned business situations, the GST registration is an absolute mandatory obligation. If you fall into that category and continue to run business without GST registration then you are liable for hefty penalties.
Who are supposed to Get GST Registration? Following are the situations where you are supposed to get a GST Registration. 1) The individuals registered under the excise duty or VAT or even Service tax or similar taxes which were taxes existing before enforcement of GST. 2) Any Businesses with a turnover exceeding the amount of Rs.20 lakhs and Rs.10 lakhs for the special states as mentioned above respectively are obligated by law to have a GST registration. 3) Any taxable individual or a non resident taxable individual. 4) Input service distributers that are agents of a certain supplier. 5) Individuals that fall into the category of tax payment under the reverse charge mechanism. Know the Documents Required for GST Registration · PAN of the Applicant · Aadhar card · Proof of business registration or Incorporation certificate, · Identity proof and Address proof of the Promoters and/as well as the directors of your business or company with their passport-sized photographs. · Address proof of the place of business. · Bank Account statement or Cancelled cheque. · Digital Signature or a DSC. · Letter of authorization or Board Resolution for the Authorized Signatory Follow the GST Registration Procedure Online with the Help of Experts · Visit the official government provided website first of all. The website is reg.gov.in. · Once you log on to the website, you will see an option sitting to register now. This is an option for the new tax payers. · On the site, you shall see two options in order to select from, it could either be a new registration or temporary reference number. This is also known as TRN for short. · After you through this, the next thing that will be asked would be if you are a tax payer or not along the column saying “I’m a?” and here you will put in “tax payer”. Mention along with the state or the district you are running your business in. This is also where you shall mention your legal name that is supposed to be just the same as on your PAN card. Next, simply mention your further details as asked like your registered contact and mail id, then the type of business you are running. · Once you finish with filing these details, you will receive an OTP. This OTP is for verification. Once you verify through it, you will receive an ARN number if all your documents that you submitted are correct. · Just in case any fault is found, you will be asked to correct it by the department or cancelled leaving you with options of either refiling the form of correcting your details. Mostly it’s the second. Once satisfied, you will get your GST registration procedure completed and done. More info visit http://enterslice.over-blog.com/2018/09/how-can-we-apply-for-gst-registration-in-india.html
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While thinking of availing the benefits coming from the MSME registration, you might need to know who are fulfilling the criteria forthe eligibility for MSME/ SSI registration. The MSME registration or as the newly introduced term Udyog Aadhaar can be issued by basically any kind of business entity. A few examples would be the sole proprietors, any limited liability partnership firms, Hindu undivided families, registered private limited companies, producer companies, cottage industries etc.
Hence any kind of association of persons that are co-operatively running any business or similar societies may apply for MSME registration. Most of the small businesses get registered for MSME or Udyog Aadhaar are able to enjoy the government given benefits under the MSMED act which stands for micro, small, medium enterprise development under the act of 2006. It is rather recommended to always get an MSME registration in case, you fall into the eligibility criteria. We will now discuss the eligibility criteria for applying for the MSME registration. Criteria for the application of MSME Registration Only those business entities that fall under the following eligibility criteria canget an MSME registration as per the MSMED act of 2006. Now in case, any business entities who are involved with the manufacturing and the production of any goods may consider the following classification to get registered.
Source url - http://enterslice.over-blog.com/2018/09/who-are-eligible-for-msme-registration.html In order to understand as to how we can execute a proper franchise agreement, first we have to be clear what a Franchise is and why is Franchise Agreement executed. In one line we can say that a
What is a Franchise? When an established brand decides to lend their name, goodwill and trade secrets to set up their Brand’s Store on different locations and executes an agreement for the same effect then such an agreement is termed as a Franchise Agreement. Here, Franchisor and Franchisee enter into a legal agreement where Franchisee operates its business under the name of the Franchisor in exchange of payment of some fees including initial payment and royalties. Checklist for Franchisee Agreement Following is an example of checklist to be considered before finalizing a Franchise agreement. This is done to make sure that the agreement is not ambiguous and includes all the key clauses. Costing Related
Source url - https://enterslice.puzl.com/_news/Checklist-for-drafting-a-proper-Franchise-Agreement/129205 Micro, Small and Medium enterprises in India need to register themselves as MSME with the Ministry of Micro, Small and Medium Enterprises. The MSME registration also called the Udyog Aadhaar registration is not mandatory by law but the additional benefits that come with the registration are encouraging enough for the owners and promoters of these enterprises to get the unit registered.
This industry offers the highest employment opportunities to the general public. The sector employs 69% of the total employed crowd in India, contributes 45% to the manufacturing sector and 45% to exports and is expected to contribute 50% to India’s GDP by 2024. The business entities that can benefit under the MSMED Act are:
The following documents need to be submitted along with EM--II for UdyogAadhaar registration:-
Source url - https://enterslice.puzl.com/_news/MSME-Registration-and-its-Benefits/128949 The GST law makes it mandatory for many to apply for a GST registration. This article will cover multiple points under several different headings regarding GST registration in India.
What Is The Prescribed Threshold Limit for GST Registration? The threshold limits of GST registration depend upon state to state. In case aggregate turnover of a person or entity is more than Rs 20 lakhs, then they would have to apply for GST registration. However, this limit for the GST registration is different for some special states like the north-eastern states of India including Sikkim and Jammu and Kashmir. The aggregate annual turnover here means all the taxable and the non-taxable supplies along with the exports of goods and services of a person that’s having the same PAN. The aggregate annual turnover doesn’t include all the values of the supplies on which there’s a tax levied on the basis of the concept called reverse charge basis i.e. inward value supplies. Who Require GST Registration? Those falling into the category of a mandatory GST registration under the GST act are given below:- · Those individuals that make an inter-state supply which is irrespective of the above mentioned threshold limit for GST registration. · The casual individuals that are taxable, and will be required to get their GST registration and again, irrespective of the threshold limit. · Also the individuals required to pay any taxes under the reverse charge. · All of the taxable individuals who are non-resident. · Those individuals that needs to do tax deduction under the section 37 for TDS · Those agents that work for the suppliers. · The individuals that are input service distributors. · Those who do business and supply the goods and services via the means of electronic operations like the e-commerce websites. · Those that are the aggregators supplying any service under some brand name or certain trademark. There are certain situations other than the above mentioned scenarios 1. When a supplier makes some taxable supply of goods or services and their aggregate annual turnover is more than 20 lakhs then it is required for them to apply for New GST registration. 2. The same as mentioned in point 1, for the suppliers that are operating from the states of the north-east, Sikkim, Himachal and Jammu and Kashmir. But here the annual turnover will be at a threshold limit of Rs 10 lakhs. 3. Those individuals who were already registered under the previous tax structure pre-GST. What is The Time limit for GST registration procedure? Those eligible for GST registration must get their registration done within the time frame of 30 days from the first day they become eligible for GST registration. What are the other aspects of GST registration? There needs to be always a separate GST registration for business with multiple verticals as it becomes small units of different businesses irrespective of the state they are operating in. Such an option would be open to those individuals who must have their PAN card number available for Online GST registration and in case of the non-resident individuals, a GST registration can be granted on the basis of other documents in the absence of a PAN card number and they will be allotted a unique identity number. Every person that wants to apply for GST registration must have a PAN card though. Source url - http://entersliceindia.dudaone.com/get-more-information-about-gst-registration What Is The Basic Concept of NGO?
The Non-Government Organization (NGO) is a type of corporate entity which is a non-profitable or in other words a charitable organization. These NGOs work for the development and welfare of the society and not in the personal interest of the founder of the organization. These organizations can be registered in any of the following schemes in India:
The reason behind establishing any NGO is the betterment and upliftment of society from the one social cause which is not letting the society develop and grow with the current world of globalization and modernization. They work for non-profitable objectives that could be related to art, culture, trade, education, religion, environment protection, sports or any welfare program of society. The point to keep in mind is that even if any profit is generated from the organization even that is put for the welfare cause and not in personal interest. The registration of a corporate entity requires a minimum number of two directors in case of private limited and minimum of three for public limited companies. Avail the Advantages of NGO Registration
So in this article, we will guide you with the step-by-step instructions in order to do your online TDS return e-filing get done.
Follow the steps below: -
How to Get Registration of DSC or Digital Signature?
What is The Procedure for e- Filing Of TDS Return?
Source url - http://entersliceindia.blogspot.com/2018/09/tds-return-efiling-in-india.html An Investors Pitch Deck is a brief presentation created to provide a brief overview of the business plans and strategies to potential investors, partners or customers. These are especially of help to the startups, professionals and corporations who are interested in financial aid from external sources in form of investments.
The key feature of an Investors Pitch Deck is its uniqueness. What sets this pitch apart from the others which the investor is considering? How does the pitch excel in convincing the investor? Does the pitch fall on the same length as the investor’s ideas? There are many guidelines that are provided for what must be included in an Investor’s Pitch Deckbut what are the points that must be avoided in a pitch at all cost? Let us look at some pointers which will help you break the monotonous streak of Investors Pitch Deck without compromising on your vision:
Source url - http://enterslice.over-blog.com/2018/08/what-to-avoid-in-an-investor-pitch-deck.html Consulting Agreement
Sometimes in place of hiring in house experts on various areas of operation organizations plan to hire consultants with expert knowledge and expertise in particular fields for a set period of time or for any particular task. These consultants can either be individuals or organizations. The agreement executed between the organization and consultants defining the rights and obligations of both such parties is known as Consultancy Agreement. Benefits of a Consulting Agreement Now, that we are clear to the meaning of consultancy agreement let us try and understand the requirement of such writer agreement from a business perspective. Following are the benefits of a consultancy agreement:
While executing a consulting agreement some key factors must be kept in mind. Following elements must be included in a consultancy agreement to make it more efficient and effective:
Source url - http://enterslice.over-blog.com/2018/08/elements-of-consulting-agreement-its-relevance.html A non binding agreement consisting terms & conditions for the investment is known as Investment Term Sheet. An Investment Term Sheet is a non binding document except clauses related to confidentiality and governing law. It is a type of principle agreement which consist valuation. It mainly consist discussions on which parties have agreed informally. After preparation of terms sheet, a due diligence process shall be carried out. Eventually parties will sign the agreement. No contractual obligation has been created by the term sheet on investor to make investment and on the company as well as to issue shares to the investor. Under this, details of the investors are given, valuation of the company, and the amount of investment.
Every type of investment requires proper negotiations for which such type of document is required. Investment Term Sheet is a non binding document under which terms & conditions are defined which are mutually agreed between the parties in relation to investment. Terms sheet is a non binding document thus do not have legal value and it cannot be enforced. It is drafted in a manner that no misunderstanding will occur in future. It will be treated as a reference document for drafting of legally binding contract. Now let’s understand some of the features of term sheet.
Things to be considered by the parties in term sheet An investment term sheet gives a base to future formation of legally binding agreements. At the time of making term sheet each & every clause and required provisions must be carefully analyzed, and proper discussion and negotiation should take place while preparing this. Every aspect and future impact should be considered while making. While making investment terms sheet and during negotiations, professionals may be hired or consulted for experience outlook and also for unbiased approach. By this, an unambiguous and exhaustive document can be made. You can contact us for the preparation of Investment term sheet as we have a team of professionals and we can assist you accordingly. Source url - http://entersliceindia.inube.com/blog/7921715/all-about-investment-term-sheet-for-startups Memorandum of Understanding (MOU) is a type of agreement which is executed between two or more parties describing the rights and obligations of the parties. Generally it is executed for initial discussions. Hence it consist the features of oral discussion among the parties.
Memorandum of Understanding is a non binding contract which reflects the intention of the parties involved in an agreement. It is also known as letter of intent in India. Here are the following features of Memorandum of Understanding:
Memorandum of Understanding consist the provisions regarding understanding between the parties in respect of particular project which they would like to undertake. We cannot conclude that mere existence of a document for understanding between the parties is a contract. Every agreement is not a contract according to Indian Contract Act 1872. Agreements which are enforceable by the court of law are contracts. Now the question is whether the MOUs are legally binding in India? The essential requirements of a contract haven been specified under section 10 of Indian contract act 1982.
Contents of the MOU describe the intention of the parties involved. Rights, duties and obligations created among the parties explain the legal nature of a MOU. Therefore the most important element is to understand the nature of relationship created among the parties involved under the legally binding MOU. Intention of the parties must be clearly distinguished on the basis of complete contract & informal agreement such as if the agreement is executed merely to agree then it is an informal agreement or it is a contract if the parties are bind to perform. Source url - https://enterslice1.wordpress.com/2018/08/09/does-memorandum-of-understanding-is-legally-binding-in-india With the introduction of the Goods & Services Tax, thetaxation system got simplified and unified for the first time in India. All issues related to GST like rates, rules and regulations are looked after by the GST council that comprises of the finance minister of all states and headed by the Finance Minister of India. Registration under the tax system in the pre-GST period was complicated, lengthy and involved tedious detailing and filling in different application forms. In the GST period, the government has made things much easy and convenient by enabling GST registration online.
For GST registration in India, the applicant has to must open the government GST official site. The GST registration procedure involves 11 distinct steps as mentioned below:-
The penalty for not registering under GST and evading payment of taxes is equal to 100% of the tax amount due. Source url - https://entersliceindia.it.gg/Procedure-of-GST-Registration.htm In this article we will discuss what MSME Registration is, why you should do MSME Registration, the types of MSME Registrations and how can you do your MSME Registration. So let’s begin by knowing firstly what MSME is all about?
MSME stands for micro small medium enterprises. In the same category there’s another term i.e SSI which stands for small scale industries. Both fall under the same category. Now these businesses come under Udyog Aadhaar and are the foundation of economic growth and development making them the back bone of Indian economy. The Indian government hence gives an array of benefits to them to encourage their number and progress. The benefits include things like lower rates of interests, some favouring rules regarding settlement of disputes with the distributors or promoters, more tax rebates etc. But to avail for these attractive benefits, all you need is an MSME Registration. The MSME Registration is not mandatory but it’s a good idea to get the Registration just to avail the benefits. The laws related to MSME Registration. The MSME Registration application is done under the MSMED act and the MSME businesses could be in both the sectors, either manufacturing or service. The MSME Registration has three categories depending on the type of work and the annual turnover or investments are put forth into that business. Following are the three categories: - Types of MSME Registration based on their size, Investment and turnovers · Micro Enterprises- This micro enterprise Registration category is the smallest of all three categories of MSME Registration. And the criteria for getting an MSME Registration under micro enterprise is: - a) The Investment in manufacturing sector should not be more than the amount of Rs 25 lakhs. b) The Investment in case your business is in service sector, should be not more than the amount of Rs 10 lakhs. · Small Enterprises-The small enterprise category is the middle one within the MSMEs and the Registration criteria for it is the following: - a) The Investment for manufacturing sector of businesses should be more than the amount of Rs 25 lakhs but shouldn’t exceed the amount of Rs 5 crore. b) In the service sector, the Investment must be more than the amount of Rs 10 lakhs but not exceeding the amount of Rs 2 crores. · Medium Enterprises-The very last category of the MSMEs for MSME Registration. And the criteria for it is as followed: - a) The manufacturing category must have an investment more than the amount of Rs 5 crores but must not exceed the amount of Rs 10 crores. b) The service sector must have an investment more than the amount of Rs2 crores and not exceed the amount of Rs5 crores. What should you be prepared with for MSME registration application? · Government Registration frees · The MSME Registration application form. · Prescribed list of documents for submission at the registrar office. Procedural steps for MSME/SSI Registration 1) Complete the MSME Registration application form or SSI Registration application form. 2) Prepare required documents for MSME Registration, this takes 1 to 2 days. 3) File the MSME Registration application along with all the arranged documents. Filing is to be done with the MSME registrar. This step takes 2 days. 4) Next, you submit MSME Registration application and it will get verified and your job for MSME Registration here gets complete. And you now just wait for the approval. 5) Now after approval, you will be granted MSME Registration certificate. Now your MSME Registration is complete and you are eligible for availing for the government given benefits. But in case, you need the help of professionals then our reliable experts are 24/7 hr available to help you in every possible way. Dial our phone number or drop us an email anytime when you need. Source url - https://entersliceindia.it.gg/Follow-the-Procedural-Steps-for-MSME-Registration-in-India.htm The goods and services regime has a rule that a certain business which is being run if exceeds an annual turnover of Rs 20 lakhs then you must get GST registration in India. In case if you belong to a special state like north-eastern Indian states and Jammu and Kashmir along with other hill station states, then the rules changes and you must get GST registration if your annual turnover exceeds Rs 10 lakhs. For these businesses, a GST registration is absolutely mandatory. In case if your business organization continues to run its operations without getting a GST registration, then it is a cognizable offense and the owner will be liable for penalties. A GST registration could take anywhere from 2 days to 6 days.
Who Are Supposed To Get GST registration? Following are the list of peoples who are supposed to get their GST Registration in India:- · The individuals that are registered under the excise, VAT, service tax, etc were the taxes before the enforcement of the GST laws. · Any businesses that have a turnover annually exceeding Rs 20 lakhs in general while the amount of Rs 10 lakhs for the special states like the north-eastern Indian states, Himachal Pradesh, Uttarakhand and Jammu and Kashmir. · Any sort of a casual taxable person or a non-resident taxable person. · The agents of a supplier and as the input service distributors. · All those that pay a tax under the reverse charge mechanism. · Those people that supply via e-commerce. · Every single e-aggregator. · The kind of individuals that supply some kind of information online and has an access to a database or any trivial services from a place that’s outside of India to a person that resides in India. This is other than the registered taxable person. What are the Documents Required for GST Registration? · PAN of the Applicant · Aadhaar card · Proof of business registration or Incorporation certificate. · Identity proof and Address proof of the Promoters and as well as the directors of your business or company with their passport sized photographs. · Address proof of the place of the business. · Bank Account statement, or Cancelled cheque. · Digital Signature or a DSC. · Letter of Authorization, Board Resolution for the Authorized Signatory Follow the Steps For Online GST Registration Procedure 1) First of all, you must visit the official government-provided website, which is a reg.gov.in. 2) Once you are there, you will see the option to “register now” this option is for the new taxpayers. 3) In case if you have already had this provision then you won’t need to go through that link unless you are totally new and don’t have any sort of GST or reference number. 4) On the site, you will be seeing two options to select from either “New Registration “or “temporary reference number” also known as TRN for short. So, you will be selecting the “New GST Registration”. 5) After this you will be asked for another thing that is, I’m a? – Where you will select the option of “taxpayer”. Along with the state or district and legal name of the business that you are running. This is where you will be mentioning your legal name which is supposed to be same as on your PAN card. Next mention the further details as asked like your registered mobile number and email address. Your mobile number must be a permanent one. 6) Once you do so, you will get an OTP. This you are supposed to verify and then you shall receive an ARN number if all the submitted documents by you are correct and okay. 7) In case, there found any kind of discrepancy then you will be asked to fill the form all over again and then submit it again. If you are having any sort of trouble while following the GST Registration Process then what are you waiting for? Enterslice is the leading agency which is known for offering reliable online legal services to their customers. More info visit - https://entersliceindia.it.gg/What-is-the-need-of-GST-registration-and-who-must-apply-for-it.htm Thinking of getting a place to live in a new city or simply a place to stay in when you don’t own a property? You must make sure that you have applied for residential rental agreement. In order to, simply avoid any possibility of disputes and secure your expected interests, it’s recommended to include clause in your rental agreement.
Have a look on them that are discussed as below:- 1) The security deposit The landlord is likely to take a security deposit from the tenant. This is a type of monetary security just in case, the tenants cause any damages in the property. This amount taken is to be mentioned in the residential rental agreement document. If there comes a situation where the tenant doesn’t pay the monthly rent and isn’t traceable too then it’s wise to mention in the Clause of your rental agreement whether the security deposit is refundable or not. It’s also rather advisable to include the time frame in which such a security deposit is to be refunded. 2) The rent The residential rental agreement includes the detail of how much amount is to be charged each month for the rent from the tenant. It should also include in which manner the payment is to be received or made. You can also mention in your rental agreement about the penalty levied on not paying the rent on time. 3) The tenancy term The landlord or the property owners likely to consider a lock-in period of at least 6 months. This is for ensuring at least the 6 months of stay of the tenant of which he shall also give rent of. Also the rental agreement Registration depends on the term of tenancy. 4) The maintenance charges in case of repairs. It should be made very clear in the residential rental agreement that what maintenance the tenant has to pay apart from the rent. It could be for maintenance of water supply, electricity and society charges. Another thing to include in your rental agreement is whether the tenant or the landlord will pay for the minor repairs or damages caused during the stay of the tenant on the rented property. 5) The list of the amenities and fixtures. It is to be mentioned in the rental agreement, about the fixtures, fittings and amenities are in working condition and already are available on the rented property. This will include the furniture, air conditioner, geyser, RO, fans, lights etc already fitted in the rented property. 6) The grounds on which the tenant could get evicted. The property owner making the rental agreement must put a clause that includes on what grounds the tenant could be liable for eviction. This could include certain bad behaviour or illegal activities. In addition to this, the tenant must ensure this in the rental agreement. This is in compliance with all of the laws that are relevant to government regulations. It’s often made quite clear in the rental agreement about the fact what sort of people can possess the property on rent. This clause is negotiable with the landlord in exceptional cases of necessary circumstances. 7) The renewal of the rental agreement. Because the rental agreement gives a specific duration for which the residential rental agreement is valid. Once that time period is over, the rental agreement is to be renewed and this is an essential factor. While renewing the rental agreement, it must be mentioned by how much percentage of the hike there has been in the rent, if any. Are you willing to apply for residential rental agreement? If yes then you are at an absolutely right platform where our highly skilled professionals are dedicated to help you in every online legal process at Enterslice. You can leave us an email we will shortly revert you and will provide reliable solutions to your issues immediately under the expert consultation. Source url - https://entersliceindia.it.gg/What-are-the-important-clauses-in-residential-rental-agreement.htm As per the Indian taxation code, TDS is known for tax deduction at source. TDS is considered as a kind of proper tax which is deducted from the income of any individual or association before the cash is credited into their account. The government produces revenue by imposing TDS on the people and their organizations. The rules and regulations of TDS are controlled under the Income Tax Act of 1961 by the Central Board of Direct Taxes (CBDT).
As the name recommends, "Tax Deducted at Source" infers that the payee deducts the tax before making any payment to the receiver. TDS is pertinent to the wage that is earned consistently and furthermore on the wage that is earned occasionally or sporadically. Along these lines, TDS is appropriate for different livelihoods including however not constrained to Salary only, Rent, Commission, Professional Fees, and Interest. Have a look on the benefits of TDS Return TDS is payable on the profit so take note of that the obligation to pay TDS is liable in case of, income really occurring. TDS is deducted before making payments. The deductions are made when the payments are on cash, cheque or credit. The deducted TDS is additionally kept with different government offices. TDS Return filing has different points of interest which are as follows:-
A TDS Return is a rundown of the considerable number of transactions identified with TDS made amid a quarter. TDS Return is a quarterly statement which is submitted to the Income Tax Department by the deductor. The statement consists of all the summary of entries by the deductor for TDS filing to the Income Tax Department. The TDS Returns statement incorporates many details such as the PAN number of the deductor and the deductees. Apart from this, the TDS which is paid to the government and TDS Challan information is also maintained in the statement. What Are the Due Dates For Filing TDS Return? Have a look at the following chart to know the due dates of the financial year 2018-2019. Quarter Quarter Period Last Date of Filing TDS Returns 1st Quarter From 1st April 2018 to 30th June 2018 31st July 2018 2nd Quarter From 1st July 2018 to 30th September 2018 31st October 2018 3rd Quarter From 1st October 2018 to 31st December 2018 31st January 2019 4th Quarter From 1st January 2019 to 31st March 2019 31st May 2019 What are the types of TDS Returns Form? There are many types of TDS Return Forms that are applicable to different situations based on the income of the deductee and the type of deductee on which TDS is implied. Type of TDS Return Form Particulars of TDS Return Form Form 24Q Contains a statement of TDS from the salaries Form 26Q TDS on all payments apart from salaries. Form 27Q TDS on income received from interest, or any amount payable to non-residents. Form 27EQ Collection of TDS. Get anytime help from the experts at Enterslice if you are applying online TDS Return. We being the reliable online legal service provider, offers relevant and precise solutions to our customers. Customer satisfaction is of utmost importance to us, we will feel glad to serve you in every possible ways. Source url - http://enterslice.strikingly.com/blog/the-importance-benefits-of-tds-return-form Are you an owner of the property?
But having a fear of what to do of it after your death? Can create a ‘Will’ and vest the property into someone’s safe hand after your death. ‘Will’ is a legal declaration disclosing the testator’s (person creating the will) intention of the transfer of the property into someone’s hand after his death. A Will is an important document which enables the individual / any living person to rightfully leave his assets and wealth to whomever he chooses to, after his death. REQUIREMENTS FOR A VALID WILL To avoid a Will being challenged on the basis of its validity, it is important to ensure that all requirements for a valid Will have been satisfied which are as follows:
GOVERNING RULES OF A WILL Laws relating to Will are governed by the provisions of the Indian Succession Act, 1925. However Muslims are not governed by the Indian Succession Act, 1925 and they can dispose their property according to Muslim Law. ESSENTIAL CHARACTERISTICS OF A WILL • Will is a legal declaration of testator‘s intention with respect to transfer of the property after his death. • The declaration must be with respect to property of the testator. • The declaration should be effective and operative only after the death of the testator. • Will is not effective during the lifetime of testator and can be revoked at anytime during his life time. WHO CAN EXECUTE A WILL Section 59 of the Indian Succession Act, 1925 deals with persons capable of making wills. These are elaborated below:
5. A person who is ordinarily insane may make a Will during an interval in which he is of sound mind.IMPORTANT CLAUSES TO INCLUDE IN A WILL Some of the points elaborated below must be covered for making an effective Will: Revocation This clause is necessary at the time when the testator already has previous wills. A revocation clause will revoke the older wills and proofs that only this document is now the controlling force on the testator’s estate. Description of the property Details of the property on which the beneficiary is entitled to use and enjoy the said property after the testator’s death. Appointment of executor or personal representative One of the important clause in a will is mentioning a name of individual who would serve as the will’s executor or Personal Representative. He will be responsible of gathering the estate’s assets and distributing them to the beneficiaries. Guardianship of children In case a testator has minor children then this clause allows him to mention the name of guardian for his minor children in the event of the testator’s death. This clause usually takes effect if the other spouse is deceased or incapacitated. Failure clauseIn case where the beneficiaries and eligible heirs named in the Will dies before a testator death, then their estate will be given to the government. Source url - http://entersliceindia.blogspot.com/2018/07/will-meaning-and-when-is-it-required.html Pharmacy business is one of the lucrative businesses which is not affected by the monetary cycles. Increasing developments in the private hospitals has also lead to the increasing demand for pharmacies which has ultimately lead a huge growth in healthcare and pharmacy industry in our country.
E-commerce companies and e-health companies are also increasing their market with easy availability of medicines to customers by providing same day delivery and cost saving. The pharmacies can be setup in hospitals, shopping areas, residential buildings, housing townships. Pharmacies in the residential building are in form of the firms. No drug license? No pharmacy business! But one thing which is most important for setting up the pharmacy business without which this business cannot be carried is to obtain a drug license. Drug license is a permission granted by the authority to sale, resale, market, manufacture, trade, etc of drugs. It is regulated by Drugs and Cosmetic Act, 1940. Drug license is issued by State Drugs Standard Control Organization or Central Drug Standard Control Organization There are types of Drug License issued which depends upon the type of activities done. Categories of activities:
Types of Drug License
This type of drug license is issued to persons/agencies for operating the general stores. Requirement for Issue of Drug License
Documentation for Obtaining Drug License After fulfillment of all the requirements, you need to have some important documents. Though the issue of drug license issuance is an individual state matter therefore, documentation for obtaining it may vary from state to state but the generic list of items are as follows:
When starting a business, one needs to be aware of the legal regulations and compliances that are associated with its operations. One such essential license is the Trade License. A Trade License is a form of government approval provided through Municipal Corporation for a specific business in a specific locality. Such permission is granted subject to the adherence to relevant rules, guidelines, and standards as per the laws applicable in the area of operations.
Hence after the registration of the business form into a company, sole proprietorship, LLP etc, it is mandatory to obtain the Trade License before the commencement of any business activity. Operating without the Trade License is illegal and attracts heavy penalty in many states. The general time period within which the Trade License must be acquired is 15 days of commencement of operations of the business. The rule may vary for the states. Who Regulates Trade License?The local authority, Municipal Corporations aid the state governments in such regulations. The fees prescribed and the accepted modes of payment for the Trade License vary from one state to another. All the regulations regarding the Trade License are state-specific. In Delhi, the Municipal Corporation of Delhi regulates the Trade License Renewal. MCD issues a Trade License to the business establishments permitting business activities to be commenced under the DMC Act, 1957. It is mandatory for a person who intends to set up a trade in the jurisdiction of MCD to obtain trade/ storage license. Where to apply for the Trade License? An application for the Trade License has to be made either at a CSB or on the online portal of MCD. An applicant can submit the required documents at any CSB after mentioning the Acknowledgment Number provided upon making the online application. What documents are essential for making an application for the Trade License? The following documents require to be submitted for a fresh Trade License:
How many days does it take to obtain the Trade License? It takes approximately 20 working days from the date of payment of the required charges by the applicant for issuance of the Trade License renewal. It shall either be issued by hand to the applicant at the CSB or can be couriered to the provided address if it has been requested by the applicant. Can a duplicate Trade License be applied for? Yes. A duplicate Trade License can be applied for if the original is lost, mutilated, destroyed, etc. It can be issued upon the payment of Rs.100/- towards processing charges after the submission of the below mentioned documents:
As per the Transfer of property act, 1882 a Gift is defined as ‘the transfer of certain existing movable or immovable property made voluntarily and without consideration, by one person, called the donor and accepted by or on behalf of the donee.’
These provisions of Gift provided under this act are not applicable to Muslims. The definition includes:
As per the Section 123 Transfer of Property Act 1882 and Section 17 the Registration Act, 1908, for a gift deed to be effective, there should mandatorily be a registered instrument signed by or on behalf of the donor, and attested by at least two witnesses.
Are you purchasing home or some property?
The essential document for purchasing the immovable property is execution of sale deed. So, here in this article we are going to through some light on the aspects related to execution of sale deed What is a Sale Deed? The sale deed is the legal document executed subsequent to the execution and compliance of terms and conditions of the sale agreement between the buyer and the seller. It acts as an evidence for sale in favor of the buyer and transfer of the property from buyer to seller After the ownership gets transferred to buyer, he can further sale the property POINTS PURCHASER SHOULD ENSURE BEFORE PURCHASE OF PROPERTY
There are basic steps involved in preparation of sale deed:
The sale deed of immovable property needs compulsory registration at the jurisdictional sub registrar office. Registration of sale deed is governed under Registration Act, 1908 CLAUSES OF SALE DEED Sale Deed is the documents that are created based on the needs of buyer and seller. Below are the key points elaborated as how to draft the document for transfer of the ownership of a property in buyer’s name.
Source url - http://entersliceindia.blogspot.com/2018/07/sale-deed-title-to-property.html Business Plan
When planning a new venture it is important to plan out everything in detail and prepare a detailed written plan stating the main objectives, goals, organizational structure, policies etc. to achieve such objectives. This intricately laid out written document is known as a Business Plan. Business plan provides a roadmap for better management and growth of organization. Business plan provides a much required support in an organization’s formative years as well as in case of any expansion plans and new ventures. It helps in following manner: 1. To check whether the business idea is actually feasible enough to be executed in the current business conditions. 2. to prepare an effective work flow for execution of plans 3. To impress and secure funds from prospective investors. Why is Business Plan Required? Many wonder if there is an actual requirement for hiring professionals for preparation of business plan or to prepare an actual business plan at all. The answer to such a question is yes. When exploring a new area of operation it is important to do proper research and preparation on our part. It prepares us in dealing with uncertainties in a better way. Business Plan helps in persuading the investors to understand your vision and securing investments for such future ventures. A compelling business plan is the key to success as the investment package is in direct proportion with the feasibility of such business plan. While the plan is in the development stage the factors that are to be kept in mind are: ü If the plan is in sync with the organization’s visions and main objectives. ü As the business plan is a sales document, it must be precise still effectively reflect the complete business strategy to achieve its goals in an effective way. While preparing a business plan various factors are to be kept in mind like; · Thorough Market Research · Preparation of marketing Strategies · Identification of target audience · Staffing on management and official levels · Goals, long term as well as short term · Obstacles that the business might face. Why hire a consultant? In order to develop a detailed and effective business plan a lot of time as well as expertize is required. Expertise can be found in house but time is one luxury which budding entrepreneurs do not have. All the time that they have is invested in business development, market analysis and identifying the right partners. In such scenarios, Business Plan Consulting plays a key role in taking over the business plan development part through their professional expertise in such field of work. Hiring a professional business plan consultant has following benefits: 1. Customized Business Plans: They understand your business needs and help in development of customized plans. 2. Experienced Service ensures quality: As the consultants professionally provide such services, they have expertise in development an enticing business plan. 3. Extensive market Research: They have team of experts who first understand the insights of your business and conduct market research on the basis of that. This helps in development of a more viable business plan.
To carry on the particular trade or business, permission is required to be obtained by applying for trade license. Trade license gives permission for only those trade related activates for which it has been obtained and not other than that. Before starting manufacturing activities by an establishment it is required to obtain fundamental license from the license department.
Trade license is applied on the basis of the premises therefore it has to be obtained for all locations from where the business activity is carried out. An application has to be filed prior to the 30 days of commencement of such activities by the establishment. Its main purpose is to regulate trade in the country along with the safety guidelines prescribed by the government. Trade License Requirement § Its main purpose is to regulate improper trade activities and to ensure that citizens are not adversely affected by health hazards & nuisance. § It provides safeguard. § It ensures that activities are carried out in accordance with the rules & regulations prescribed by the government. § It helps in building image of the establishment that no illegal activity is carried out. Trade license is obtained from concerned State Government or Municipality or corporation where the place of business is situated. State government lays down the provisions of trade license and besides this, it is also responsible to manage and regulate the trade within a city.Each state has its own set out of rules and regulations in relation to trade license. Therefore before applying for trade license an applicant must be aware about the rules & regulations pertaining to trade license and also the jurisdiction under which an applicant operates. There are different names of this license in different states like in Maharashtra it is known as Gumasta License. Trade license prevents establishments from penalty & prosecution. In India, carrying business activities without obtaining trade license is an offence punishable. Documents required for Trade License § In case of company or LLP, PAN card of establishment; § Cancelled cheque with bank statement; § Certificate of Incorporation of company (MOA & AOA); § Address proof of establishment; § ID proof and address proof of all directors and their passport size photographs; § Front-Face Photograph of the establishment and display of goods; § Site plan of the applicant. Trade License Application Scrutiny On receiving the application for trade license renewal, concerned officer shall verify the suitability of business and possibility of danger or nuisance. After scrutinizing an application, trade license is issued. In some of the states, in person verification is done by the concerned authorities. This process usually takes around 10 to 15 days after submission of an application. Trade License Renewal After the issuance of trade license, it is required to be renewed on annual basis. Trade license is issued for the period of one year in some states however an application can be made for license renewal at the end of the each year on the payment of prescribed renewal fees. Source url - https://enterslice.puzl.com/_news/Trade-License-and-Trade-License-Renewal/120090 NGO Registration and its purpose
As we can figure out from the name itself, a Non Government Organization is established independent of any kind of government or state authorities. They work independently for the benefit of society in general. Their main objective is to contribute to society in any way including education, trade, art, culture, skill development or any other social welfare activity. NGOs do not operate with profit earning motive, their main objective is to support the under privileged, social welfare etc. This is the reason they are also known as non profit organizations. Ways to Register a Non Profit Organization In India if anyone is willing to set up a nonprofit organization, then they can do so legally in three different ways. Following are the ways to incorporate a NGO:
Key Features of Trust, Society and Section 8 Company
Features
In order to register a society, its rules and regulations must be listed out in organizations memorandum of association. Features
Features
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