A private limited company follows various compliances like it has a minimum of two directors and a maximum of fifteen directors according to the rule. Shareholders have legal registration. Documents maintained by Private limited companies for compliance are MOA, Articles of Association, Statutory declaration, Letter of Register, approval of name, etc.

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Compliances

Compliances for a Private Limited Company under Companies Act, 2013
The Companies Act, 2013 regulates all the compliances that a private limited
company follows. Compliance is beneficial for companies as exter...Read More...Read More
By Businus School
2022-04-18 * 7 mins read
It is important to comply with regulations in India, whether the food is manufactured or imported in India. Several food ingredients or additives are used in foods of the country of origin, but the same food ingredients or additives may not be permitted in India. Therefore, food compliance checks are an essential requirement for food business operators set by the Food Safety Authority of India. Upon receiving an FSSAI license, the licensee is under the supervision of the FSSAI Regulatory Authority. If one violates any of these provisions, one may have to endure penalties. There are various penalties: Anyone convicted of selling unsafe food for human consumption will be punished as a misdemeanor. Anyone responsible for distributing contaminated food will pay the penalty. Misleading Advertising by False Advertising. A person convicted of manufacturing or selling an incorrectly branded food will be fined. All food vendors must meet specified food quality standards. If a person does not meet the quality required by law, he/she must accept the penalty. All food businesses must have a valid FSSAI license to operate the food business. Failure to do so could result in imprisonment. Illegal activity that does not cause a serious breach can lead to 6 months in prison and a fine. FSSAI compliance has been extended to provide high-quality food to prevent food fraud. Food contamination at all times before reaching consumers is a major problem. To this end, the food business has been assigned compliance under the 2011 Food Safety and Standards.

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Compliances

Food Business Compliances
The food processing industry is one of the largest industries in India. It
possesses huge potential for uplifting the agricultural economy. T...Read More...Read More
Source: legaldocs.co.in
2022-04-18 * 5 mins read
An angel investor invests in a startup while the startup is still getting its bearings and establishing itself in the market. Earlier, an angel investor was imposed with more than 30% tax. The (DIPP) Indian Department of Industrial Policy and Promotion has provided significant reassurance to angel investors and has exempted Angel investors from paying taxes. According to the income tax department, angel investors having a minimum net worth of INR 2 crore will be eligible for a 100 per cent tax exemption on investments in startups over the fair market value. On an average return of Angel investors of more than INR 25 lakhs in the previous three financial years is eligible for tax exemption (100%). Startups that were formed after April 1, 2016, are eligible for a three-year income tax exemption.

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Taxation

Startup Investment: Income Tax Exemptions for Angel Investors
On 9 September 2020, the Parliamentary Standing Committee on Finance
(PSC) headed by Shri Jayant Sinha presented its report on ‘Finan...Read More...Read More
Source: vakilsearch.com
2022-04-18 * 5 mins read
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