Written By: Team SeedUp
Date: 10/06/2021
The Companies Act 2013 (the Act), has prescribed in detail the nuances of a Company’s Nameplate. Broadly described, these are covered under 3 major categories: Where, What and How....
Written By: Team SeedUp
Date: 10/06/2021
We spend so much time designing our Company’s letterhead: the logo, the colors, the elements, design, paper quality, so on so forth. that, we often forget the ‘content’ that should be in the letterhead........
Written By: Swati Bajaj
Date: 10/06/2021
Common Seal has not been defined anywhere in the Companies Act, 2013 nor was it defined in the erstwhile Companies Act, 1956.
But through....
Written By: Swati Bajaj
Date: 10/06/2021
Written not oral
Notice of a Board Meeting has to be given in writing. It cannot be oral.....
To whom and How...
Written By: Swati Bajaj
Date: 10/06/2021
All the Directors of the Company together form the Board of Directors of the Company. The Company is run by this Board of Directors. All decisions are taken by passing .....
Written By: Swati Bajaj
Date: 10/06/2021
“Financial Year"
For any company or body corporate:
means the period ending on the 31st day of March every year.....
Written By: Swati Bajaj
Date: 10/06/2021
Every Company, other than a One Person Company (OPC) has to hold an Annual General Meeting (AGM).
The calculation of the date to hold an AGM is like a puzzle........
Written By: Swati Bajaj
Date: 11/06/2021
It is that time of the year when you have to bring your house in order. The place where you live is getting cleaned for ‘Diwali’ and .....
Written By: Swati Bajaj
Date: 11/06/2021
One Person Company (OPC) means a company which has only one person as a member.
Such a Company may have more than one Director on its Board of Directors....
Written By: Team SeedUp
Date: 11/06/2021
Analysis of Sec. 115BAB
Section 115BAB prescribes for 15% tax rate for a domestic company that is incorporated after 1st Oct, 2019 & is solely engaged in the manufacturing or production of any article or thing and is commencing manufacturing ...
Written By: Team SeedUp
Date: 11/06/2021
The term 'Professional Tax' may be one of those that does not fully reflect the true sense of the term. Contrary to what the name implies, it is not a levy imposed only on professionals. It is a levy on all occupations, industries, and jobs that is charged depending on the wages earned by such occupation, trade, or employment. It is imposed on workers and others doing business in the state. It is levied on employees, a person carrying on the business including freelancers, professionals, etc., subject to income exceeding..........
Written By: Team SeedUp
Date: 11/06/2021
A trade license is a document/certificate that gives the permission to the applicant (person seeking to open a business) to commence a particular trade or business in a particular area/location. However, the license does not allow ......
Written By: Team SeedUp
Date: 11/06/2021
As per Section 8 of the Companies Act 2013, a company that has its sole objective of as promoting Education, Art, Sports, Commerce, Social Welfare, Charity, Research, Religion, Environment, Science, and many such similar objects; where the income and profits of the Company gets utilised for the promotion of its objective(s) only; wherein no....
Written By: Team SeedUp
Date: 11/06/2021
Audit as its name suggests is an inspection of the books of accounts and making a report by an independent auditor. Every entrepreneur while operating its business has to always keep in mind the audit of the books of accounts for its business or profession. Audit of the books of accounts is governed by the laws under which books of accounts are required to be maintained ......
Written By: Team SeedUp
Date: 11/06/2021
What is MSME?
The Government of India on 2nd July 2021, revised the guidelines for MSMEs. Retail and Wholesale trade has now been included as Micro, Small and Medium Enterprises....
Written By: Team SeedUp
Date: 11/06/2021
Every individual, who is an Indian citizen and whose gross total income exceeds the taxable limit in a financial year, is required to file Income Tax Return ....
Written By: Team SeedUp
Date: 11/06/2021
Each and every entrepreneur, once he/she starts their business or profession, should always keep in mind .....
Written By: Courtesy- MSME website
Date: 03/07/2021
Any person who intends to establish a micro, small or medium enterprise may file Udyam Registration online in the Udyam......
Written By: Team SeedUp
Date: 03/07/2021
In today’s day and age, going global to expand your business, gives you cutting-edge. But before you enter international waters, you’ll have to follow a few procedures.....
Written By: Team SeedUp
Date: 24/08/2021
A new concept has been introduced in the Companies Act 2013, about One Person Company (OPC), a company incorporated by a single person. Earlier, a single person could not incorporate a Company. But now they can...
Written By: Team SeedUp
Date: 24/08/2021
Partnerships used to be a very popular form of Business Entity in India due to the simplicity of registration and ease of maintenance. But with the introduction of the Limited Liability Partnership (LLP), the prominence of Partnership’s has been replaced by the LLPs...
Written By: Team SeedUp
Date: 14/09/2021
The GST is a centralised tax which has amalgamated various taxes like service tax, CST, excise duty and the state taxes such as the entertainment tax, luxury tax, octroi and VAT.
Written By: Team SeedUp
Date: 14/09/2021
In India, there are 4 types of GST slabs: essential household items and life saving drugs, processed food or computers, hair oil, soaps, industrial intermediaries & services and luxury goods. Basic necessity goods come under the exempt list.
Written By: Team SeedUp
Date: 14/09/2021
GST was launched on 1st July, 2017, by the Government of India (GoI) and it applies to all Indian service providers including freelancers, traders as well as manufacturers.
Written By: Team SeedUp
Date: 14/09/2021
There are 21 offences under GST. For easy understanding, these have been grouped into heads of fake or wrong invoices, fraud, tax evasion, supply/transport of goods and others.
Written By: Team SeedUp
Date: 06/10/2021
There are many characteristics of a private limited company. The important ones are....
Written By: Team SeedUp
Date: 06/10/2021
Many start-ups begin their venture without any proper documentation or company registration. This leads to confusion in.....
Written By: Team SeedUp
Date: 03/05/2023
The term 'Professional Tax' may be one of those that does not fully reflect the true sense of the term. Contrary to what the name implies, it is not a levy imposed only on professionals........
Written By: Team SeedUp
Date: 03/05/2023
Okay, so you might have heard this a hundred times - first impression is the last impression. We’re not pessimists, but it is actually true.....
Written By: Team SeedUp
Date: 03/05/2023
To get a patent registration is to legally label something as one’s own innovation or property. An individual or a firm can get an Intellectual Property Right (IPR) for their unique idea, invention, or product.....
Written By: Sunil Jaiswal
Date: 03/05/2023
Introduction to Outsourcing Accounting and Book-keeping Function
It is commonly believed that accounting and bookkeeping must be done within the organisation.....
Written By: Sunil Jaiswal
Date: 03/05/2023
What is Income Tax Planning?
Tax Planning means planning tax liability by taking benefits of the concessions and exemptions provided in the tax law. It involves the process of arranging business operations in such a way that reduces tax liability......
Written By: Arunava Datta
Date: 03/05/2023
We come across many people who are appointed as Directors in more than 50 companies. This blog makes an attempt to decode the maximum number of companies in which an individual can hold directorship......
Written By: Arunava Datta
Date: 03/05/2023
Introduction
The term ‘Capital’ has a variety of meanings. It may mean one thing to an economist, another to an accountant, while another to a businessman or a lawyer. A layman views capital as the money, which a company has raised by issue of its shares.....
Written By: Robin Mishra
Date: 03/05/2023
History - In 1961, many countries joined together to create a simplified method of “legalizing” documents for universal recognition. Members of the conference, referred to as the Hague Convention, adopted a document referred to as an Apostille that would be recognized by all member countries.....
Written By: Arunava Datta
Date: 03/05/2023
In theory, auditors are professional watchdogs, appointed by the shareholders, who check the genuineness of financial statements prepared by the management of the company and form an opinion for the shareholders who have made the management, in some sense, trustees of their assets......
Written By: Arunava Datta
Date: 03/05/2023
The term startup is generally used to describe innovative businesses which are in their early stages of the business cycle. With an idea to promote business as a solution to unemployment the Government of India under the leadership of Honorable Prime Minister Narendra Modi, launched the ‘Start-up India Fund Scheme’ in 2015.....
Written By: Swati Bajaj
Date: 10/05/2023
The Companies Act 2013 provides for the strike-off of a company that is not carrying out any business activities or has failed to comply with its statutory obligations. Section 248 of the Act specifies the circumstances under which a company may be struck off from the register of companies maintained by the Registrar of Companies......
Written By: Swati Bajaj
Date: 10/05/2023
As per the Companies Act 2013, every company is required to hold an Annual General Meeting (AGM) each year within six months from the end of the financial year. .....
Written By: Swati Bajaj
Date: 10/05/2023
Yes, it is possible for an individual to be a subscriber of a company in different capacities. For example, a person may be a subscriber as an individual and also as a representative of a business or organisation....
Written By: Swati Bajaj
Date: 10/05/2023
Valuation of Shares under Companies Act, 2013
The provisions related to the valuation of shares under the Companies Act, 2013 are primarily contained in Section 62 of the Act. These provisions apply to all companies, whether private or public....
Written By: Robin Mishra
Date: 11/05/2023
Ministry of Corporate Affairs (MCA)
Earlier known as the Department of Company Affairs in 1950, then renamed as Ministry of Commerce till 2004. It acquired the name Ministry of Corporate Affairs (MCA) in 2007 which is still in continuance....
Written By: Swati Bajaj
Date: 15/05/2023
Basic provisions of Section 186:
A company cannot directly or indirectly give a loan, guarantee or provide security to any person or other body corporate or or invest in the securities of any other body corporate,, if the amount of the loan or investment exceeds 60% of the company's paid-up share capital, free reserves and securities premium account....
Written By: Robin Mishra
Date: 15/05/2023
Governing laws:
Written By: Robin Mishra
Date: 15/05/2023
Introduction of GST in India
Goods and Services Tax (GST) is a value-added tax that was introduced in India on July 1, 2017. It replaced all indirect taxes levied on goods and services by the central and state governments.....
Written By: Robin Mishra
Date: 15/05/2023
Need for indian government to introduce MSME registration
The Indian government introduced MSME registration to address the challenges faced by Micro, Small, and Medium Enterprises (MSMEs) in India and to promote their growth and development...
Written By: Robin Mishra
Date: 15/05/2023
Introduction
DPIIT stands for the Department for Promotion of Industry and Internal Trade, which is a department of the Ministry of Commerce and Industry in India. The department was established in January 2019 by merging the Department of Industrial Policy and Promotion (DIPP) and the Department of Commerce...
Written By: Swati Baid
Date: 18/05/2023
As per sec 44AD an eligible taxpayer can declare their income at a prescribed rate, without the need for maintaining regular books of accounts. The provision applies to small taxpayers who carry out a business or profession and have a turnover of up to Rs. 2 crores......
Written By: Swati Baid
Date: 18/05/2023
OLD REGIME TAX RATE Vs. NEW REGIME TAX RATE
Assessment Year 2023 - 24
In the Assessment year 2023 – 24 an assessee has the option to choose the tax rate under the Old Regime Tax Rate or New Regime Tax Rate as per his/her choice. Before opting for the New Regime Tax the assessee has to file a Form 10-IE within a prescribed time period.....
Written By: Swati Baid
Date: 18/05/2023
Startup
Who is eligible to enroll under the DPIIT Start Up Scheme
Written By: Robin Mishra
Date: 18/05/2023
What is FSSAI authority ?
FSSAI stands for the Food Safety and Standards Authority of India............
Written By: Robin Mishra
Date: 18/05/2023
Introduction to Import Export Code (IEC)
The Import Export Code (IEC) is a 10-digit unique identification number issued by the Director General of Foreign Trade (DGFT)........
Written By: Robin Mishra
Date: 18/05/2023
A company is a legal entity formed by a group of individuals or entities with a common objective of carrying out a specific business activity. In other words, it is an association of persons who come together to carry on a commercial or industrial enterprise.......
Written By: Shekhar Kumar Jain
Date: 18/05/2023
A business plan is a written document that outlines a company's goals and strategies for achieving those goals.....
Written By: Shekhar Kumar Jain
Date: 18/05/2023
Pitch decks are essential tools for startups and businesses looking to secure funding. They are often the first impression that potentia.......
Written By: Shekhar Kumar Jain
Date: 18/05/2023
A pitch deck is a critical tool for any entrepreneur seeking funding, partnerships, or customers. It’s a visual presentation that provides an overview of your business or startup and outlines your vision, market opportunity....
Written By: Shekhar Kumar Jain
Date: 18/05/2023
A pitch deck is a visual presentation that provides an overview of your business or startup to investors, partners, and other stakeholders. A well-crafted pitch deck can help you communicate your business idea.....
Written By: Shekhar Kumar Jain
Date: 18/05/2023
When creating a financial model, including the right graphs can help you visualize your data, identify trends, and communicate your findings to stakeholders. Here are 20 graphs that you should consider......
Written By: Shekhar Kumar Jain
Date: 18/05/2023
If you are an entrepreneur looking to raise capital for your business, one of the essential steps is to find the right investor. But, before any investor commits their funds.....
Written By: Shekhar Kumar Jain
Date: 18/05/2023
Vendor due diligence is a critical process that businesses must undertake when selecting vendors to work with. It involves assessing the financial, legal, operational, and reputational....
Written By: Shekhar Kumar Jain
Date: 19/05/2023
When starting a new business venture, entrepreneurs often wonder which comes first: a business plan or a financial model? While there is no hard and fast rule, it is generally recommended to develop a business plan first and then use that plan to create a financial model....
Written By: Shekhar Kumar Jain
Date: 19/05/2023
When it comes to developing a successful business strategy, a business plan and a financial model are two essential components that can help entrepreneurs and business owners achieve their goals....
Written By: Shekhar Kumar Jain
Date: 19/05/2023
Creating a financial model in Excel can be a daunting task, especially if you're not familiar with the program......
Written By: Shekhar Kumar Jain
Date: 19/05/2023
When it comes to starting a business or expanding an existing one, creating a solid business plan is crucial.....
Written By: Shekhar Kumar Jain
Date: 19/05/2023
Raising funds is a critical aspect of the startup journey, enabling entrepreneurs to bring their innovative ideas to life, scale their businesses, and achieve long-term success.....
Written By: Shekhar Kumar Jain
Date: 19/05/2023
In the world of finance and investment, Venture Capital (VC) and Private Equity (PE) are two prominent forms of funding that play a crucial role in fuelling the growth of companies. While VC and PE funds....
Written By: Shekhar Kumar Jain
Date: 22/05/2023
Starting a new business venture requires careful planning, dedication, and securing the necessary funding. As an entrepreneur looking to attract investors for your startup, you may wonder if DPIIT (Department for Promotion of Industry and Internal Trade) registration....
Written By: Shekhar Kumar Jain
Date: 22/05/2023
As a business owner, expansion is often a crucial step towards growth and success. However, deciding how to finance that expansion can be challenging. Two primary options are equity and....
Written By: Shekhar Kumar Jain
Date: 22/05/2023
Maintaining a healthy capital structure is essential for the long-term success and sustainability of any business entity. The debt-to-equity ratio is a financial metric that measures the proportio....
Written By: Shekhar Kumar Jain
Date: 23/05/2023
In the world of business investments, a term sheet serves as a critical document that outlines the essential terms and conditions of a potential deal. While not legally binding, it acts as a roadmap for....
Written By: Shekhar Kumar Jain
Date: 23/05/2023
Securing investment is a significant milestone for any business, and the term sheet marks the initial stage of that process. However, before eagerly signing a term sheet with an investor, it is crucial to exercise caution...
Written By: Shekhar Kumar Jain
Date: 23/05/2023
When negotiating a term sheet with an investor, entrepreneurs have an opportunity to shape the terms and conditions of the investment deal. The term sheet serves as a roadmap for the final agreement, and tweaking certain clause....
Written By: Shekhar Kumar Jain
Date: 23/05/2023
When negotiating an investment deal, the term sheet plays a critical role in outlining the key terms and conditions agreed upon by....
Written By: Swati Bajaj
Date: 24/05/2023
Under the Startup India Action Plan, startups that meet the definition as prescribed under G.S.R. notification 127 (E), are eligible to apply for recognition under the program. The Startups have to provide support documents.....
Written By: Swati Bajaj
Date: 24/05/2023
DPIIT-Recognised Startups Are Eligible For The Following Benefits:
DPIIT-Recognised Startups may apply to the Inter-Ministerial Board (IMB) for the following
Benefits:
Written By: Swati Bajaj
Date: 24/05/2023
1. Merger/Demerger/Acquisition/Amalgamation/Absorption: The resultant entity or entities formed due to such activities will not be eligible for recognition as a Startup. However, mergers or amalgamations under.......
Written By: Swati Bajaj
Date: 24/05/2023
Introduction:
The Companies Act, 2013 mandates the maintenance of various registers by companies to ensure compliance with legal requirements. These registers play a crucial role in documenting and recording essential information related to the company's shareholders, directors, key managerial personnel, charges, contracts, and other significant transactions......
Written By: Swati Bajaj
Date: 24/05/2023
Section 168 of the Companies Act, 2013 deals with resignation of Directors. When, by operation of law, the office of a director is vacated....
Written By: Swati Bajaj
Date: 24/05/2023
Introduction
The Micro, Small, and Medium Enterprises (MSME) sector plays a vital role in the economic growth and development of a country. In India, the MSME sector is governed by the Micro, Small, and Medium Enterprises Development (MSMED) Act, 2006. One significant provision of this act is th....
Written By: Swati Bajaj
Date: 24/05/2023
Introduction
In today's dynamic work environment, companies are constantly looking for ways to motivate and retain their employees. One effective tool that companies use is an Employee Stock Ownership Plan (ESOP). In this blog post, we will explain ESOPs in simple language, specifically focusing on ESOPs in the contex....
Written By: Swati Bajaj
Date: 24/05/2023
Introduction
In the competitive landscape of startups, attracting and retaining talented employees is crucial for long-term success. One effective way to achieve this is by implementing an Employee Stock Ownership Plan (ESOP). ESOPs provide employees with an opportunity to become shareholders, aligning their interests with the company's growth. In this blog post, we will provide a detailed step....
Written By: Swati Bajaj
Date: 24/05/2023
Introduction
Limited Liability Partnerships (LLPs) have gained popularity as a flexible business structure that combines the benefits of both a partnership and a company. LLPs require the appointment of designated partners who are responsible for managing the affairs of the LLP. One question that often arises is whether a designated partner can be appointed without making any contribution in the form of capital or assets to the LLP. In this blog post, we will explore this topic and shed light on the legal provisions and practical implications related....
Written By: Swati Baid
Date: 25/05/2023
The following entities can claim the profit earned in a previous year as exemption u/s 80IAC:
Written By: Swati Baid
Date: 25/05/2023
Written By: Swati Baid
Date: 25/05/2023
Q: What is Section 80IAC of the Income Tax Act?
A: Section 80IAC of the Income Tax Act, 1961, provides tax benefits to eligible start-up entities registered on DPIIT.
Q: Who is eligible to claim benefits under Section 80IAC?.....
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