Introduction to Startup Registration in India Startup registration in India has been gaining traction due to various government initiatives supporting innovation and entrepreneurship. India has become the third-largest startup ecosystem globally. The registration process allows founders to obtain official recognition from entities like DPIIT, based on specific criteria such as less than 10 years of…
In today’s world, social and environmental causes are capturing increasing attention. Businesses and individuals alike are shifting focus from mere profit-making to contributing positively to these causes. Direct contributions, either in cash or kind, are among the most prevalent methods to support these endeavors. But are these contributions confined within national boundaries? Certainly not. Foreign…
Non Banking Financial Companies (NBFC): A Detailed Overview A Non-Banking Financial Company (NBFC) is a financial institution that provides various banking services without holding a full banking licence. Unlike traditional banks, NBFCs are restricted from accepting demand deposits, such as savings accounts and checks, from the public. These entities, also known as Non-Banking Financial Institutions…
Introduction Non-Governmental Organizations (NGOs) have the opportunity to attain income tax exemption through registration and compliance with specific formalities. However, it’s important to note that such registration does not directly benefit individuals or entities making donations. The Income Tax Act includes provisions aimed at encouraging donations by offering tax benefits to donors. It is crucial…
Venturing Abroad Expanding beyond India’s borders is a critical step in a business’s growth strategy. When setting up operations overseas, it is essential to comply with both the legal requirements of the target country and the relevant Indian laws. Overseas Direct Investment (ODI) Provisions Indian companies can invest abroad through ODI by either contributing capital…
The National Commission has dismissed the police department’s defense, which relied on verbal instructions for discontinuing premium deductions without securing written confirmation. The issue revolves around policy lapses due to these unapproved changes. Constable Sakinder Singh of the Punjab police acquired three Jeevan Saral with profit policies from the Life Insurance Corporation (LIC) of India…
The Unified Pension Scheme (UPS) is a newly launched initiative that guarantees retirees 50% of their last drawn salary as a pension. This pension is based on the average salary earned during the 12 months preceding retirement, provided the retiree has completed 25 years of qualifying service. In response to the criticisms of the National…
When planning how to transfer your assets, it’s crucial to understand the distinctions between a Gift Deed vs. Will. A Gift Deed takes effect immediately upon execution, whereas a Will is only activated upon the testator’s death. Each method serves to convey your assets to others, but choosing the appropriate one requires careful consideration. Transferring…
