Expectations from Union Budget 2022

Introduction

Amidst the current Omicron wave across the world, leading world economies, including India, are on the path of recovery from the damage the COVID-19 pandemic has done. With the predicted growth of real GDP estimated at 8.3 per cent, as forecasted by the World Bank, the Indian economy is at the centre of the limelight in world economics.

In this article on expectations from the Union Budget 2022, we have highlighted industry-wise expectations for reforms, subsidies, and support mechanisms from the Government of India.

 

Hospitality Sector

 

The hospitality sector is amongst the sectors that have been most disrupted from the COVID-19 pandemic and pursuant lockdown and travel restrictions that were imposed across the country.

 

This sector has been significantly suffered a crunch on liquidity and hence we expect the following reforms, support and benefits to accrue from the union budget 2022:

 

1. Reduction in tax rates on both corporate and normal assesses.
2. Fund for extending liquidity to the sector in form of collateral-free top-up of working capital limits
3. Increased or priority access to MSME reforms for the stressed entities.
4. Introduction of schemes for the promotion of travel and tourism by the government.

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Company Registration in India

If you are planning to start business in India, the first &the foremost step is to establish the legal presence of your business in India by registering it in accordance to the applicable provisions of Companies Act, 2013.

 

Thinking why to choose Company Registration in India? Company Registration in India will boost the progress of your business and provide an additional edge over those who have not registered.

 

• Shields from personal liability and protects from alternative risks and losses.
• Attracts more customers
• Procures bank credits and good investment from reliable investors with ease.
• Offers liability protection to protect your company’s assets
• Greater capital contribution and greater stability, increases the potential to grow big and expand
• You will also get Zero Balance Current Account

 

Why Setup Services India to help you in Registering your Company in India?

 

The Company Registration process is completely online, so you don’t even have to leave your home to get your entity registered. Our highly qualified professionals ensure that not even a single client at SSI is ever bothered to participate in a cumbersome procedure(s) while doing their business; we take this as our responsibility to solve the complex trails of statutory compliances for you to save your time and effort in doing your business. Want to know more OR have any doubt?? Request a Call Back!

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Startup Registration Services | Company Startup Registration Services

Startup is a useful term in today’s era to lift up the environment of business. It is the term or scheme used under DPIIT which is an initiative by the Government of India, in consonance with the Make in India initiative that altogether aims to help and support the entrepreneurs and facilitates the startup ecosystem by offering several exemptions, subsidies, and other benefits.

 

This Startup India portal helps in many ways and aims to promote unique and innovative startups in India.

 

A few benefits that are made available to Startups post registration are as follows:

 

1. Reduction in cost of patents

 

The government of India has enlisted a few facilitators for patents and trademarks. Such consultants will provide high-quality Intellectual Property Right Services including fast – pace examination of patents at lower fees. The government will bear all facilitator fees and the startup will have to pay only statutory fees. They will enjoy an 80% subsidy on the cost of filing patents.

 

2. Easy access to Venture Capital

 

A 10,000 crore rupees corpus fund is set up by the government of India to provide funding to Indian startups as venture capital.  The government will also be giving limited guarantees to the lenders in order to encourage banks and other financial institutions for providing venture capital.

 

3. Tax holiday for 3 Years

 

Startups will be exempted from income tax for 3 years provided they get a certification from Inter-Ministerial Board (IMB).

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Startup Registration Services

 Startup is a useful term in today’s era to lift up the environment of business. It is the term or scheme used under DPIIT which is an initiative by the Government of India, in consonance with the Make in India initiative that altogether aims to help and support the entrepreneurs and facilitates the startup ecosystem by offering several exemptions, subsidies, and other benefits.

This Startup India portal helps in many ways and aims to promote unique and innovative startups in India.

A few benefits that are made available to Startups post registration are as follows:

1. Reduction in cost of patents

The government of India has enlisted a few facilitators for patents and trademarks. Such consultants will provide high-quality Intellectual Property Right Services including fast — pace examination of patents at lower fees. The government will bear all facilitator fees and the startup will have to pay only statutory fees. They will enjoy an 80% subsidy on the cost of filing patents.

2. Easy access to Venture Capital

A 10,000 crore rupees corpus fund is set up by the government of India to provide funding to Indian startups as venture capital. The government will also be giving limited guarantees to the lenders in order to encourage banks and other financial institutions for providing venture capital.

3. Tax holiday for 3 Years

Startups will be exempted from income tax for 3 years provided they get a certification from Inter-Ministerial Board (IMB).

4. Ease in an application for Government tenders

Registered startups are exempted from “prior experience/turnover” criteria applicable for normal entities applying for government tenders.

5. Simplified and easy compliances

The Government has simplified a lot of compliances for startups so that they can save time and money. Startups shall also be allowed to self-certify compliance (through the Startup mobile app) for 9 labor and 3 environment laws.

6. Tax saving for investors

Investors investing their capital gains in the venture funds set up by the government of India will get an exemption for capital gains under the Income Tax Act, 1961.

7. Easy winding up

In case of closure of operations– A startup can wind down its registered company (business) within 90 days from the date of application of winding up.

What is the eligibility for getting your startup registered?

1. Company Age: The period of existence and operations should not be exceeding 10 years from the Date of Incorporation.

2. Company Type: Incorporated as a Private Limited Company, a Registered Partnership Firm, or a Limited Liability Partnership.

3. Annual Turnover: Should have an annual turnover not exceeding Rs. 100 crores for any of the financial years since its Incorporation.

4. Original Entity: An entity should not have been formed by splitting up or reconstructing an already existing business.

5. Innovative & Scalable: Should work towards the development or improvement of a product, process, or service and/or have a scalable business model with high potential for the creation of wealth & employment.

NGO Incorporation | PE Setup Services India

Non-Governmental Organizations were originated from Article 71 of the United Nations Act in 1945.

An NGO can be any kind of an organization provided that it is independent of government influence and is not-for-profit.

In the Indian economic system, an NGO structure has been fairly divided into three different categories namely: Trusts, Societies & Section 8 Companies.

Salient features of all three categories have been mentioned below:

TRUST

1. Governed by the Indian Trust Act, 1982 except for the states Gujrat & Maharashtra; A Trust can be incorporated in India by any person, AOP, HUF, Company, etc provided there are at least 2 persons who can lay the foundation of trust by signing a Trust Deed.
2. Trusts in India are incorporated into 2 sub-categories namely:

• A Private Trust, which is created for a closed group i.e, its beneficiaries can be identified. Eg: A trust created for the relatives, friends, sister concerns of the author.
• A Public Trust, which is created for a large group, i.e. for the general public wherein individual beneficiaries cannot be ascertained in specific.

1. A trust can simply be incorporated by registering the Trust deed with the Jurisdictional registrar and is valid to operate PAN India.

What makes a Trust different from a society and a section 8 company? A trust is an agreement between parties, whereby one party holds the ownership of a property for the benefit of another party, and the legal title of the property vests in hands of the Trustees.

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Virtual CFO Services | PE Setup Services India

Presently, after the eruption of the pandemic worldwide, new companies and corporates are searching for approaches to run lean. There is stress in a lot of industries and even established promoters now want to slice out high costs associated with their senior management to maintain good profitability.

 

This condemns us all to rethink and derive new solutions wherein innovative and remote capabilities can serve the purpose of the appraisal, decision-making, and efficient use of man-hours in senior management roles.

 

As a result of the above, a new pattern of employing Virtual CFOs over the more conventional in-house full-time CFOs is now being adopted at an exponential rate.

 

Promoters, Board of Directors and CEOs usually make the following inquiries before hiring a Virtual CFO:

 

• What level of administrations do virtual CFOs offer, and how competent are such professionals when it comes to practical situations?
• Are Virtual CFOs’ really accessible? How they convey reports?
• What's more, obviously, how much do the low maintenance CFOs cost in 2021?

 

In this elaboration, we will cover a portion of the essentials of working with a virtual CFO and give you essential information.

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Corporate Restructuring | Online company setup services in india

 What Is Restructuring?

Restructuring is the corporate management term used for the act of reorganizing ownership, operational, legal, or other structures of a company for the need of making it more profitable and better developed, and organized.

 

What is corporate restructuring?

 

Corporate restructuring plays a vital role in the life of businesses and companies. Companies will pursue corporate restructuring strategies in response to their falling profits, changes in ownership, general market, changes in corporate strategy.

 

Corporate Restructuring is the process of reorganizing the structure of the organization to fetch more profits from its operations or is best suited to the present situation.

 

 It is the most complex and fundamental phenomenon that management confronts.

 

Enhance the company’s performance ad profit: 

To eliminate the entire financial crisis and enhance the company’s performance this process of corporate restructuring is considered very important. Financial and legal experts are hired by the management of concerned corporate entities facing the financial crunches for advisory and assistance in the negotiation and the transaction deals. The concerned entity may look at operations reduction, debt financing, and any portion of the company. Change in the ownership structure of the company is due to the adverse economic conditions, takeover, merger, adverse changes in business such as buyouts, bankruptcy, over-employed personnel, lack of integration between the divisions, etc.

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