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1. From the perspective of Legal Compliances, the internet-based firm would be required to be compliant with the provisions of the Information Technology Act, 2000. Apart from the said provisions, it must also be ensured that the firm does not infringe any copyright or design rights belonging to any other entity. Further, it must also be ensured that ...
W Network
caHow to start an Internet-Based graphic design startup, what are the legal and accounting compliance?
-
W Network
ca1. From the perspective of Legal Compliances, the internet-based firm would be required to be compliant with the provisions of the Information Technology Act, 2000. Apart from the said provisions, it must also be ensured that the firm does not infringe any copyright or design rights belonging to any other entity. Further, it must also be ensured that the firm has well-drafted terms and conditions in place for customers/clients to ensure minimum risk to the firm. In case the startup is modeled as a Company falling under the Companies Act, 2013, the compliances for various types of companies under the Companies Act, 2013 would also have to ensure.
2. From the aspect of compliances relating to accounting/financials aspects, the firm would be required to obtain registration under the GST regime and ensure proper invoicing and filing of returns from time to time. As regards accounting of income etc. depending on the nature and volume of business, provisions of the Income Tax, 1961 would also be required to be adhered to.
We at Wazzeer have built expertise in this sector to provide you end to end service on our platform. We would be excited to help you kick-start your journey -> "Get your Wazzeer"
Reference links:
https://www.wazzeer.com/blog/top-12-agreements-contracts-e-commerce-startup/
https://www.wazzeer.com/blog/reminding-gst-suppliers-ecommerce-platforms/
over 3 years ago
View answer
How to start an Internet-Based graphic design startup, what are the legal and accounting compliance?
-
W Network
ca1. From the perspective of Legal Compliances, the internet-based firm would be required to be compliant with the provisions of the Information Technology Act, 2000. Apart from the said provisions, it must also be ensured that the firm does not infringe any copyright or design rights belonging to any other entity. Further, it must also be ensured that the firm has well-drafted terms and conditions in place for customers/clients to ensure minimum risk to the firm. In case the startup is modeled as a Company falling under the Companies Act, 2013, the compliances for various types of companies under the Companies Act, 2013 would also have to ensure.
2. From the aspect of compliances relating to accounting/financials aspects, the firm would be required to obtain registration under the GST regime and ensure proper invoicing and filing of returns from time to time. As regards accounting of income etc. depending on the nature and volume of business, provisions of the Income Tax, 1961 would also be required to be adhered to.
We at Wazzeer have built expertise in this sector to provide you end to end service on our platform. We would be excited to help you kick-start your journey -> "Get your Wazzeer"
Reference links:
https://www.wazzeer.com/blog/top-12-agreements-contracts-e-commerce-startup/
https://www.wazzeer.com/blog/reminding-gst-suppliers-ecommerce-platforms/
over 3 years ago
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