Business

Ratan Tata, was the iconic Indian industrialist, philanthropist, and former Chairman of Tata Group, was a name synonymous with ethical business practices, innovation, and social responsibility but sadly we lost him yesterday, being end of an era. I am deeply sadden by this and the way through which we all can cherish him forever in our memories is through his teachings. So here the blog on his timeless lessons. Over his decades-long leadership, Ratan Tata steered Tata Group into becoming a global conglomerate, while staying grounded in values that prioritize people over profits. For business owners, Ratan Tata offered a…

The Union Budget 2024 is a pivotal financial event that lays out the government’s economic plan for the fiscal year. For businesses, particularly small and medium enterprises (SMEs), understanding the implications of the budget is crucial for strategic planning and compliance. This blog aims to simplify the key aspects of the Union Budget 2024, focusing on legal, accounting, and compliance changes that businesses need to be aware of. Throughout this discussion, we'll refer to our focus, Understanding the Impact of Union Budget 2024 on Businesses: Legal, Accounting, and Compliance Insights, as our guiding framework. 1. Overview of the Union Budget…

Managing business finances effectively is crucial for the success of any entrepreneurial venture. For Indian entrepreneurs, understanding and implementing sound financial management practices can significantly impact business growth and sustainability. This guide will cover key aspects of financial management, including bookkeeping, tax planning, financial reporting, and audits, along with software recommendations and tips for working with accountants. 1. Bookkeeping Bookkeeping involves the systematic recording of financial transactions. It is the foundation of your business’s financial health. Key Practices: Maintain Regular Records: Record all financial transactions promptly and accurately. Categorize Transactions: Classify expenses and income correctly to track where money is…

When embarking on the journey of entrepreneurship, conducting due diligence is necessary. Whether you're an investor looking to fund a promising startup or an entrepreneur seeking to partner with others it's necessary to conduct startup due diligence as well as scrutinising the fundamentals of a business is crucial for making informed decisions. In the world of startups, where risks run high and rewards are uncertain, identifying potential pitfalls early on can save you from future headaches. In this blog, we'll explore the top five red flags to watch out for during startup due diligence. 1. Inconsistent Financials: One of the…

In the dynamic landscape of legal and organizational structures in India, entities such as Trusts, Section-8 Companies, and Societies serve distinct purposes, each governed by its own set of rules and regulations. It is crucial to understand the nuances of these entities to make informed decisions. In this blog, let's know the differences between Trusts, Section-8 Companies, and Societies, shedding light on their unique characteristics and the specific scenarios in which they are most suitable. Trusts: A trust is a legal entity created by the settlor, who transfers property to trustees for the benefit of beneficiaries. Trusts are primarily governed…

At different stages of startup lifecycle, namely - startup and early-stage development, growth and expansion, and maturity, the requirement for funds inevitably comes up. As the meeting of such requirements comes to the mind, entrepreneurs tend to consider different sources of funding for startups. In this blog, we will be looking into such sources for raising funds from. Seed Capital And Early Stage Funding Stage: Seed funding when the business is pre-revenue and it may still be developing an MVP. This funding is used by the startup to: cover the initial costs of starting, to invest on the R&D and…

The Annual return on foreign liabilities and assets (FLA) needs to be submitted by all the entities which have received FDI or made an investment overseas in current and previous year(s). 1. What Is Foreign Liabilities and Assets Annual Return? FLA annual return is one of the compliances that have to be met by the companies/LLP’s that are involved with FDI (Foreign Direct Investments) or companies who invest in foreign countries either via joint venture or wholly-owned subsidiaries, also termed as Overseas Direct Investment (ODI). FLA Annual Return must be directly submitted by the entities to Reserve Bank of India.…