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Is it Necessary to Register a Startup in India? "Call Our Business Plan Experts at +91-72999-72500" There are several advantages of startup registration which include opening a corporate bank account, easier access to loans from formal resources and displaying legal proof of business existence. Startups can also benefit from a reduction in ROC filing fees and tax benefits like higher depreciation and no taxes on dividend distribution. Startups also benefit from free-of-cost legal aid, simplified entry and exit norms as well as protection of intellectual property rights. To be eligible for Startup Indiaregistration , a small business must meet certain eligibility requirements and comply with regulatory standards. It must be incorporated as a Pvt Ltd company, a partnership firm or a limited liability partnership (LLP). It must have a product or service that demonstrates innovation or development and improvement of existing products or processes. The startup mu...

Successful Business Ideas For Small Business Entrepreneurs in India "Call Our Business Plan Experts at +91-72999-72500" A frequent cause of small business failure is under capitalization. Ideally, prospective owners should have access to at least the amount of money needed to cover the first year's revenue plus start-up expenses. Having the right business idea is also important. Here are some successful business ideas for Small business entrepreneurs in India: – a technology-based business. Technology-based business When launching an online business, it's important to develop a clear strategy and create a business plan. This will help you understand the scope of your company, as well as determine if it's a profitable idea. A business plan is also an excellent tool for identifying gaps in the market. The most successful startups in India use technology to innovate and expand their reach. These include Swiggy, a food delivery company ...

10 Common Mistakes to Avoid While Filing GST Returns in India "Call Our Business Plan Experts at +91-72999-72500" While GST has made the indirect tax system more simplified for businesses, it can be a bit complex to comply with as it introduces new procedures, forms, and filing requirements. It is crucial to file accurate returns to avoid penalties and maintain compliance with the law.  Considering that the new GST system has brought about a drastic change in indirect tax laws, it is imperative for taxpayers to stay updated and familiar with the changes. They should also seek professional assistance to ensure smooth and hassle-free filing of GST returns. This article highlights 10 Common mistakes to avoid while filing  GST Returns inIndia .  However, mistakes can be costly, so it is important to avoid them as much as possible. Here are 10 Common Mistakes to avoid while filing GST Returns in India. Using outdated or inaccurate information: Taxpayers should m...

Importance of Start-up India Registration "Call Our Business Plan Experts at +91-72999-72500" Start-ups are the driving force behind economic growth and entrepreneurship. They bring new innovations and ideas to the market. However, they also face a lot of challenges including compliance and access to capital. To overcome this, the government has started the Startup India initiative. This scheme is a platform to create networking opportunities and provide assistance for startups. Those who want to start a business should register it under the Startup India initiative to avail its benefits. The criteria to be considered a Startup is that it must be registered as a Private Limited Company or LLP or as a Partnership Firm and the ownership should lie in the hands of Indian citizens or entities. Additionally, the entity should be working towards innovation or development of goods or services, or the improvement of existing items, procedures, or processes. A...

Benefit of Starting a Business in India by a Foreign Nation NRI "Call Our Business Plan Experts at +91-72999-72500" NRI's are a major contributor to the Indian economy as they bring in inward remittances as well as skills, technology and a global perspective. The Indian government recognizes the role they play and supports them with various schemes including subsidized electricity rates, free of cost land for promising businesses, tax exemptions etc. As India is one of the fastest growing economies in the world, many NRIs are considering setting up a business in the country. However, there are several things to be kept in mind before you make the decision. There are different types of business entities that can be registered in India such as a private limited company, a sole proprietorship, or a partnership firm. It is important to understand the rules and regulations that are involved in each of these entities before making a decision. A NRI can ...

GST Registration for Small Business in India "Call Our Business Plan Experts at +91-72999-72500" If you're planning to start a small business, then you must know about GST registration. It's mandatory for all the businesses with a turnover exceeding Rs 20 lakh, whether you're based in India or abroad.  It's best to take a GST registration voluntarily, as it will help you get legal recognition and can also be beneficial for the consumers. You can easily register your business under the GST Act through the GST portal. You will need to have certain documents with you like the PAN card, Aadhaar, and proof of address along with the photograph of your place of business. You'll also need to keep a record of all invoices. This will come in handy if you ever have to file a return. After submitting these documents, you'll need to wait for some time before you receive an OTP on your mobile phone and email id, which will validate the inform...

Who Is Liable to Deduct and Pay TDS Under Income Tax Act?  "Call Our Business Plan Experts at +91-72999-72500" Any individual or HUF, who pays rent to any other entity, is liable to deduct TDS @ 5% or 3.75% on rental income. This should be deducted at the time of making payment and deposited in the government account through any authorized bank branch. This deduction comes under Section 194-IB of the income tax act. TDS stands for Tax Deducted at Source and was introduced with the aim of collecting taxes from people directly. It is a system wherein the person who makes any payment to you or credits your income in his/her account deducts tax @ specified percentage and deposits it in the Government account. This makes sure that no one evades paying taxes. The deductor is bound to issue a TDS certificate (Form 16A) to you which contains all details regarding computation of tax, amount deducted and deposited with the Government. Salaried individuals are a...

How Can I Register Udyam for a Private Limited Company?  "Call Our Business Plan Experts at +91-72999-72500" Certainly, here's a comprehensive guide on how to register a Private Limited Company for Udyam (MSME) Registration in India, along with the associated benefits and the role of an MSME Registration Consultant: Benefits of Udyam Registration for Private Limited Companies: 1.       Financial Assistance and Subsidies: Registered MSMEs can avail various government schemes, subsidies, and financial assistance programs aimed at fostering business growth. 2.       Priority Lending: Banks often prioritize lending to MSMEs, making it easier to access credit facilities and loans. 3.       Credit Guarantee Scheme: Under the Credit Guarantee Fund Scheme, MSMEs receive collateral-free credit from financial institutions. 4.       Government Tenders and Contracts: Many government tenders and contracts are exclusively available to MSMEs, opening up n...

How to Register Your Business in Tamilnadu  "Call Our Business Plan Experts at +91-72999-72500" There are many factors that need to be taken into account when starting a new company in India. For example, the legal structure you choose to operate under will have a significant impact on your operations. The most common type of business structure in India is a private limited company. This structure offers numerous advantages, including protection of personal assets from creditors and a higher level of accountability. Once you've chosen a legal structure, you'll need to register your business name. This is done by applying to the Registrar of Companies (ROC) in the state/union territory in which you intend to operate. This office will review your application and approve your name if it is unique and does not violate any existing trademarks. You'll also need to register for a GSTIN number. This will give your company a unique identification nu...