Special Consideration for Start ups
Start up are future of country, we provide special attention to them
For Start ups
We are Always there to help you, we will provide you personal attention for your queries. We like you to succeed. Don’t worry, we will not charge you for any consultancy, we will only charge you affordable fees for registration and other paper works.
We know it always difficult to start something big and there is always need of right hand for support. We will show you directions and you have to walk. Being in such a profession we have many types of clients, so we mostly know about all the fields and areas. we can always help you in better way.
We will love to see our client growing. Lets check in brief, what you need to know?
Committed To Helping Our Clients Succeed
Thinking for Start ups?
Please note that under the Indian law, only a private limited company, partnership firm, or LLP can be considered as a startup. However, technically all new business is considered by us as start ups.
The main aim of any startup is to maximize its profits. While doing so, it becomes difficult for them to look into other supporting requirements. Legal compliance is the most important wheel that keeps any business going needs to be looked into earnestly.
Many companies have their own legal departments that look after compliance requirements, but startups being new, need to approach an expert in this field for assistance.
Such outsourcing helps startups in timely compliance with the required laws, completion and maintenance of records needed for the same, reduction in costs required for maintaining the compliance machinery on their own, filling up the vacuum created due to lack of legal knowledge and single-minded focus on profit maximization.
Compliance with the relevant laws of the land is vital for the successful setup and efficient rise of startups. Compliance ensures that no penalty is imposed on a budding startup at any point in its growth and helps it stay out of any other possible difficulties.
GST Compliance
Businesses or startups having less than Rs.40 lakhs per annum turn over are exempted from being considered for GST registration. This provision will help small businesses rise at a faster pace without being liable to GST in the initial days of their growth. The amalgamation of multiple taxes under GST has facilitated the expansion of profits, specifically for startups.
The benefits, however, do not release startups completely from their liability to comply with the provisions of GST. As the startup grows over time, it needs to comply with the rules under GST.
There are other laws in India which one needs to comply with to run a successful startup. It is difficult for a business entity to keep a check on all the compliances it needs to fulfill along with its profit-making goal.
Income Tax Compliance
Every business is liable for filing of income tax returns and other procedural liabilities under the act. The Income Tax Act specifies a time limit for such filing and in case of any discrepancy, for an appeal to the higher authorities. It is essential that business, small or big, take such rules seriously and comply with them accordingly.
Compliance Under Labour Law
Increasing environmental awareness has made the laws related to the environment more stringent and non-compliance with them leads to higher penalties.
Post the enactment of the National Green Tribunal Act, 2010, which incorporates all other environmental laws under its umbrella, the penalties for non-compliance with such laws have increased manifold.
Section 26 (1) of NGT Act, 2010 states that the tribunal can award a fine up-to 10 crores and imprisonment of 3 years or both for the non-compliance of an order, award, or decision by NGT. In case of a continuing offence, the fine can be escalated up-to 25,000 Rupees per day until such continuance.
In Sterlite Industries (I) Ltd. Vs. Union of India and Ors., Supreme Court imposed the penalty of Rs.100 Crores on Sterlite Industries for contravening the provisions of the Air Act and causing pollution beyond the permissible limits. Sterlite Industries had set up and was operating Copper Smelter Plant in Tamilnadu.
Compliance under Companies Act, 2013
A startup that is incorporated as a company under the Companies Act, 2013, must conform with its provisions. The Companies Act, 2013 regulates the appointment of directors, the manner in which the annual general meeting and the board meeting is to be conducted, appointment of auditors, other basic requirements like having PAN (Permanent Account Number) and TAN (Tax Deduction and Collection Account Number), bank account, etc. after the incorporation. The businesses are expected to comply with the rules and regulations applicable to them to avoid the penalty that may be incurred in case of non-compliance.
Compliance under labour law
A startup that is incorporated as a company under the Companies Act, 2013, must conform with its provisions. The Companies Act, 2013 regulates the appointment of directors, the manner in which the annual general meeting and the board meeting is to be conducted, appointment of auditors, other basic requirements like having PAN (Permanent Account Number) and TAN (Tax Deduction and Collection Account Number), bank account, etc. after the incorporation. The businesses are expected to comply with the rules and regulations applicable to them to avoid the penalty that may be incurred in case of non-compliance.