I'm an experienced Charted Accountant. I've experience of 5+ years in this Taxation industry. I've recently joined Swarit Advisors, Which is a Legal Consultant & providing Legal & financial services.
9 Steps Guide to Open a Restaurant Business in India. A place that serves both the delicious food and attractive ambience becomes the first choice for customers.
Therefore, despite the tough competition, every young entrepreneur chooses to start a restaurant business in India. As per a report by STATISTA  , the Market Value of the Indian Restaurant Industry was about Rs 4 Trillion in 2019. Responsibilities and Duties of Promoter under RERA Act 2016. The RERA 2016 aims at protecting the home buyers from the unlawful activities of the builders.
It also provides a complaint redressal system if the promoters or agents fail to comply with the Real Estate Laws. Both Promoters and Builders are tasked with several responsibilities under the RERA Act. In this blog, we will thoroughly discuss the Duties of Promoter under RERA Act. Concept of Promoter under RERA 2016 Section 2 (zk) of the Real Estate (Regulation and Development) Act, 2016  , defines Promoter. Any person constructing an independent building or a building with apartments or is converting an existing building into apartments.
Concept of Real Estate Agents under RERA 2016 Section 2 (zm) of the RERA 2016  , defines Real Estate Agent. How to check Society Registration online? - Swarit Advisors. A Society is an association of individuals that voluntarily come together to attain a common objective.
The primary purpose of a Society is to promote the advancement of art, literature, science, religion, sports, education and other charitable activities. Society Registration Act, 1860 legitimize and governs the functions of Societies. It further lays out the guidelines, eligibility and procedure to register a Society in India. This document entails the essential aspects for online Society Registration. It will also guide you about the benefits and compliances of Society Registration.
Checklist for 80G Registration and 80G Certificate - Swarit Advisors. “The best way to find yourself is to lose yourself in the service of others.”
A wise quote by the Father of the Nation, Mahatma Gandhi which emphasizes charity and donations. Considering the present day scenario where rage, violence, inhumanity drives our society, it is indispensable to spread the preaching of being generous. Several Non-governmental organizations (NGOs) and non-profit organizations work rigorously to uplift the weaker sections of India. If you are also associated with any NGO, then you must perceive the 80G registration checklist and its benefits. Checklist to Start a Virtual Kitchen Business in India. Nowadays, every restaurant business, whether new or established choose to build Cloud Kitchens.
As, customers, instead of wanting to Dine in at Hotels or Restaurants, tend to prefer ordering food at home. Therefore, the ambit of Virtual Kitchen Business in India has also considerably increased. Virtual or cloud kitchens are only food delivery platforms. These kitchens carry out the operations within the premises of a restaurant and do not have a sitting place and takeaways. Ghost or Dark Kitchens are also the names of these food delivery businesses. Input Tax Credit under GST: A Guide on ITC Claim. Goods and Service Tax or GST Act is one of the significant reforms in the Indian Financial Sector.
However, the feature that became the talk of the town was the mechanism of Input Tax Credit (ITC). ITC means a person while paying tax on sales can reduce the tax already paid at the time of purchase. In this learning blog, we will thoroughly discuss the concept of Input Tax Credit (ITC) and how to claim and calculate ITC. Director Identification Number: A Comperhensive Guide on DIN. Although a company is a legal person, it does not have any physical appearance to carry out its work and operations.
Shareholders or the owners of a company need to appoint Directors, who will be responsible for running a company. These directors maintain a fiduciary relationship with the company. However, every person proposed to be appointed as Directors needs to acquire the Director Identification Number (DIN). Concept of DIN. Audit Committee under Section 177 of the Companies Act 2013. In the Indian Corporate Sector, Audit Committee acts as one of the main pillars of the Corporate Governance System.
The main objective of an Audit Committee is to improve the integrity in the Financial Statements. It is also responsible for monitoring the internal control process and risk management systems. Further, an audit committee is governed by section 177 of the Companies Act 2013. This article will provide you with a thorough knowledge of an Audit Committee. How To Change of Name of the Company: Complete Procedure.
Nowadays, the dynamics of the corporate sector tends to changes swiftly.
As a result, every corporate entity is relentlessly trying different way-outs to sustain in the market. One such way-out is the change of name of the company. Any limited company, whether private or public, can change its name after obtaining the consent of all the shareholders. There can be several reasons behind the change in the name of the company, such as promoters demand, change in vision or mission, branding, change of business structure, conversion from private limited to public limited, merger and amalgamation. In this learning blog, we will comprehensively discuss the provisions, concept, and procedure for change of name of the company under the Companies Act, 2013. Incorporation Of LLP (Limited Liability Partnership) - Swarit Advisors.
Limited Liability Partnership (LLP) is the combination of Partnership and Company.
It contains the features of both. Nowadays, LLP has become the choice of businessmen due to its advantages over the registration of the private limited Company. As per Section 1(n) of the LLP Act, 2008 Limited Liability Partnership means a partnership formed and registered under this act. Authorised Money Changer Audit and Requirements. The activities relating to foreign currency or money exchange can only be undertaken by Authorised Money Changers, who hold the FFMC or Full-Fledged Money Changer License. Any business who holds this money changer license in India is required to comply with various post-license registration requirements with the RBI. In this guide, we talk about post-registration requirements of FFMC License holders, Authorised Money Changer Audit requirements and other submission requirements by FFMCs in India. What are Authorised Money Changers?
Under Section 2 of the Foreign Exchange Management Act, 1999 (FEMA), an ‘authorised person’ is an authorised dealer, authorised money changer, off-shore banking unit or any other such person, who has been authorised to deal in the exchange of foreign currencies or foreign securities. Authorised Money Changers in India are categorised as: Importance of NBFCs: A Priority Sector for the RBI. India is one of the largest economies in the world and has recently witnessed a quick escalation in the growth of numerous industries such as infrastructure, education, healthcare and technology. This has resulted from the affordable and accessible financial support extended to them by the Non-Banking Financial Companies (NBFCs). Insurance Broker Registration requirements and process.
Before we discuss the Insurance Broker Registration process and requirements, it’s important to know why you should engage in this business, if there’s any scope, or will this be beneficial for you, etc. Therefore, let us first peep into the market size of Insurance Broker Business so that you can decide whether or not you should jump into it and commence the business. Market size of Insurance Broker Business The study says that the government’s policy of ensuring has steadily pushed insurance penetration in India and advancement of insurance schemes. In the FY18, gross premium written in India touched Rs 5.53 trillion (US$ 94.48 billion) with Rs 4.58 trillion (US$ 71.1 billion) from life insurance and Rs 1.51 trillion (US$ 23.38 billion) from non-life insurance.
As a whole, insurance penetration in India touched 3.69% in 2017 from 2.71% in 2001. However, in FY19, the premium for new life insurance business hiked 3.66% year-on-year to Rs. 1.09 trillion. Data Source: ibai.org. Process of Appointment of Principal Officer for Insurance Web Aggregator. For starting an Insurance Web Aggregator platform, a company needs to adhere to many requirements such as the process of appointment of Principal Officer, minimum capital requirements, eligibility conditions and documentation requirements.
A company cannot operate as an insurance web aggregator without obtaining the Web Aggregator License from the IRDAI. One of the most important requirements to obtain the registration is to appoint a Principal Officer of the business. This guide talks about the Principal Officer appointment process, requirements, eligibility criteria for a PO, and duties to be performed by a PO in a web aggregator company. Meaning of Principal Officer As per Regulation 2(l) of the Insurance Regulatory and Development Authority of India (Insurance Web Aggregators) Regulations, 2017, a Principal Officer of an insurance web aggregator company is: Effects of COVID-19 on NBFC Sector in India - Swarit Advisors. This article talks about the pre-coronavirus NBFC sector, the effects of COVID-19 on NBFC and the measures which can be taken by NBFCs in India to manage the coronavirus impact on financial services.
The COVID-19 pandemic has severely affected global economies and has had a significant effect on the financial sectors worldwide, including the Indian financial sector. The wildfire spread of the coronavirus across the world and the following lockdowns and travel advisories have resulted in grave cash flow issues for many business sectors in India, including the Non-Banking Financial Company (NBFC) sector. The impact of COVID-19 on NBFC sector has created numerous issues for the private lenders and other non-banking institutions in India. The problems faced by the NBFCs have resulted from the highly unpredictable market that has been created due to the halt in the Indian economy. Pre-Coronavirus NBFC Sector in India. A Easy Guide for Nidhi Company Registration - Swarit Advisors's Diary. Nidhi company registration is regulated by the Companies Act, 2013.
What is Nidhi Company Registration. “Nidhi” is a Hindi word, which implies fund or finance. Nidhi is an organization which has the sole purpose of building up the habit of thrift and reserving funds among its individuals & furthermore getting deposits and loaning to their members for their benefit. Nidhi Company is a Non-Banking Financial Company which don’t require RBI license. The borrowing and lending of cash are confined to its individuals just for their advantage. How to Apply for Trade License in Uttar Pradesh I Swarit Advisors. If you are starting a specific business or any trade activity in a certain municipal area, then you require a Trade License first. For example, if you are going to commence your business in Uttar Pradesh, then you require obtaining Trade License in Uttar Pradesh.
It is so as to ensure that the citizens of that particular municipal limit are not affected anyway due to the nuisance and health hazard by the improper carrying of trade. Therefore, it’s crucial to obtain this particular permit from that specific municipal corporation where you’re going to commence your new trade. In case you neglect the same, you will have to pay fine. For more details on the same, we suggest you read the full article. What is the effect of Covid–19 on NBFC Sector? - Swarit Advisors's Diary. Minimum Capital Requirement for NBFC: Guide to Start an NBFC in India. Kerala FSSAI Registration and License: Eligibility, Process, Requirements. How to acquire NBFC license in India I Process, Criteria, Types. Every business or company who wishes to start an NBFC is first required to obtain an NBFC license in India.
How to Start a Public Limited Company in India? - Swarit Advisors. Cross Border Mergers and Acquisitions in India: A Complete Guide. Businesses across the world are moving towards smarter collaborations by way of alliances with large corporations or new startups. Most businesses look for restricting their operational model through partnerships in the form of Mergers and Acquisition. When a business wishes to expand globally to meet the changing scenarios of globalisation and deglobalisation, it looks to collaborate with a business in another country.
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