A partnership firm is a business arrangement where two or more individuals come together with the purpose of conducting a profit-driven enterprise. Within a partnership, the partners jointly assume both the gains and losses of the business, as well as the responsibilities associated with its management. Several notable features define a partnership firm: A partnership …
India is a land of opportunities and offers an attractive market for entrepreneurs looking to start a business. With a growing middle class and a large population, India offers a vast market for businesses across various sectors. Setting up a business in India can be a complex process, but with the right guidance and support, …
The Indian government’s Startup India initiative aims to establish a strong startup ecosystem that fosters innovation and offers opportunities to aspiring entrepreneurs. The initiative was launched on January 16, 2016, and includes an action plan comprising 19 points. The action plan lays out a blueprint for creating a favorable environment for startups in the country. …
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ABOUT SCHEME The MSME Innovative Scheme will merge the Incubation, Design, and IPR Schemes of the Ministry of MSME. These three schemes will operate as separate verticals with connections and be integrated into a singular formulation for higher efficiency and synergy. The MSME Innovative Scheme aims to promote and encourage innovative activities, creating awareness among …
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The Ministry of Corporate Affairs (MCA) has taken several measures in recent times to promote ease of doing business and ease of living for corporates. These measures are aimed at reducing the compliance burden on companies, especially small companies, and creating a more conducive business environment for them. The MCA has revised the definition of …
Starting a new business venture can be a daunting task, but registering your startup doesn’t have to be. In India, the process of registering a startup has been made simpler and more accessible in recent years, with a range of government initiatives and online portals available to help entrepreneurs through the process. Whether you’re based …
A private limited company is a type of business structure that is commonly used by entrepreneurs and business owners. This type of company is considered to be a separate legal entity, which means that it is distinct from its owners. In India, a private limited company is governed by the Companies Act, 2013. One of …
Are you the owner of a proprietorship firm and looking to expand your business? Converting your proprietorship firm to a private limited company can be a great option for you! Not only does it provide you with more opportunities for growth, but it also offers several other benefits. And if you’re based in Gurgaon or …
Electronic invoicing, or e-invoicing, is a method of generating and exchanging invoices between businesses electronically, rather than using paper-based systems. E-invoicing has become mandatory for taxpayers whose aggregate turnover, based on PAN, is over Rs. 10 crore per financial year. It is applicable for all B2B taxable supply of goods or services or both and …
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Introduction: A one-person company (OPC) is a type of business entity where a single individual can operate a company as a separate legal entity. It is a hybrid between a sole proprietorship and a private limited company that provides the benefits of limited liability while allowing the entrepreneur to retain complete control of the business. …
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