February 2, 2024

Bitcoin mining is an important aspect of the cryptocurrency’s underlying technology since it is how transactions are confirmed and added to the blockchain, a digital record. As a return for their efforts, the owners and operators of the computer systems that comprise the decentralized Bitcoin network, known as miners, earn freshly produced bitcoins. What is bitcoin? Bitcoin is one of the earliest forms of cryptocurrency, forming part of the worldwide peer-to-peer payment system.  Cryptocurrency is digital money. It is considered to be more secure that the real money. Cryptocurrency uses something called cryptography to secure its transactions. Cryptography, to put it in simple words is a method of converting comprehensible data into complicated codes which are tough to crack. Cryptocurrencies are classified as a subset of digital currencies, alternative currencies and virtual currencies. Bitcoin was the first ever cryptocurrency created in the year 2009. Subsequently, there has been a rapid increase in the number of cryptocurrencies that have been created some of which are Litecoin, Ethereum, Zcash, Dash, Ripple etc. Bitcoins, in India, have slowly started gaining popularity, given the efforts of the government to move towards a cashless economy. However, one should know that bitcoins, as of today, are not centrally administered or regulated by any specific body like the RBI which administers physical currency in India. In fact, peer-to-peer transactions with bitcoins are managed using something known as the blockchain technology which serves as a public ledger for all transactions. Meaning of Bitcoin Mining The process of verifying Bitcoin transactions and producing new Bitcoin is known as mining. As such, it is an essential mechanism that guarantees Bitcoin’s relevance. There would be no new Bitcoins if Bitcoin mining did not exist. Verifying every Bitcoin transaction would likewise be impossible.Bitcoin mining is essentially an automated peer-to-peer process. This procedure is used to validate and safeguard bitcoin transactions.The transactions discussed here essentially refer to those that occur between two users. The crucial thing to understand here is that all of these transactions take place on a completely decentralized networking infrastructure.  Mining bitcoin, on the other hand, is a completely separate subject that must be addressed country by country. For Example, the RBI has yet to decide whether bitcoin mining is lawful in India. However, cryptocurrency mining is permitted in several nations, such as Canada and Japan. Where is it legal to mine Bitcoin? Bitcoin mining is legal in the majority of nations. Bitcoin mining is legal in the United States, Canada, Russia, and the United Kingdom. However, it is critical to recognize that the legality of Bitcoin mining differs by region and regulatory context. While most nations where Bitcoin is allowed have minimal or no laws, some have more stringent regulations. Where is Bitcoin mining Illegal? A few nations have outright prohibited Bitcoin and its mining. China is the most renowned country. Egypt, Iran, India, Algeria, Indonesia, Colombia, and Bolivia are among the nations that have prohibited Bitcoin mining. Nonetheless, in several of these nations, not just Bitcoin but also other cryptocurrencies are prohibited. Procedure for mining Bitcoin Step 1: Get a Cryptocurrency Wallet: A Digital Wallet for holding Bitcoins and other cryptocurrencies. Bitcoins are often kept in digital wallets. Encryptions are used in these wallets for security. Step 2: You, as the user, must ensure that the wallet is safe: Users can ensure that two-factor authentication is enabled and that their wallets are saved on a computer that does not have internet access. Step 3: Select a supplier of Cloud Mining Services: HashFlare and Genesis Mining are two well-known services. Because bitcoin mining now takes more computing power, this has become increasingly significant over time. Step 4: Choose a Cloud Mining Package: You should opt for a genuine Cloud Mining Package. Step 5: Make sure you also choose a Mining Pool: If users wish to mine on their own, they should join a mining pool. Step 6: Put all of your profits into a safe wallet, just as you would a return on investment: A key point to emphasize here is that the user must ensure that they are mining in lawful methods. This essentially implies that no illegal mining methods should be used. Is Bitcoin Mining Illegal in India? The basic answer is that whether or not bitcoin mining is legal varies per nation. Most nations have made the entire process of dealing in Bitcoins legal. This is a very subjective question that varies greatly from jurisdiction to jurisdiction. However, the overall result is that bitcoin mining in India is in doubt. The long-awaited ruling may indicate the government’s attitude toward the sector, which may even be unlawful.Much can be talked about and debated, but nothing can be asserted with confidence. Bitcoin Mining Future Even though some nations have banned Bitcoin and mining, it is unlikely that other countries would follow suit. It is difficult to prohibit Bitcoin and Bitcoin mining. Some countries have attempted but failed to do so in the past. Because Bitcoin mining is still relatively new, no explicit regulations govern it. Concerns about the energy usage of Bitcoin mining may lead you to believe that more nations may outlaw it. On the contrary, it may even be a motivation to legalize it. Miners can aid with the shift to renewable energy. Consider a large miner establishing operations in a distant location with no power. The miner can make it easier for the local community to obtain renewable energy by doing so and installing renewable energy. Countries should legalize Bitcoin mining to encourage investment in renewable energy. With rising worries about greenhouse gas emissions causing global warming, collaborating with miners to accelerate the transition from nonrenewable to renewable energy should be in the best interests of all countries.Instead of prohibiting Bitcoin mining, nations might impose rules. The laws should guarantee that miners follow the law and that the government does not have unwarranted worries about the business. Working with miners rather than fighting them is the way to go. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal

Society is an organized group of people with an aim and objective of providing non-profitable service. Rajasthan Societies Registration Act, 1958, lays down the procedure for society registration and operation in Rajasthan. Society can be registered with the concerned Registrar in which district the Society is intended to be established. After registration, the Society will have legal recognition.A Society is an association of individuals who work together for non-profit purpose for the welfare of the general public at large. The primary motive of a Society is to promote the advancement of charitable activities, art, science, literature, sports, education etc. On the other hand, a society is also formed for the purpose of maintenance of a commercial or residential complex or for forming a Association of Apartments. Hence, a society is a non-commercial organization which is registered under the Society Registration Act, 1860 in India which lays down rules and regulations for the registration of society and its operation. A combination of seven or ore persons are required to form a Society under Society Registration Act. Rajasthan Societies Registration Act, 1958 As per the provision of this act, Society is an association of individuals united together by mutual agreement to deliberate, determine and act jointly for the following purposes: Military orphan funds Literature Science or the fine arts Promotion of Khadi and Village industry Reading rooms for general use among the member Instruction or diffusion of useful knowledge or political education Foundation or maintenance or libraries Public museums and galleries of paintings Works of art, collection of natural history Mechanical and philosophical inventions, instruments or designs As per the provision of Rajasthan Registration act, minimum of seven persons who have attained the age of eighteen years can register a society in Rajasthan.  Important Features of Society Registration in India Minimum Requirement of seven or more members to form a Society In case any individual, companies or any other society who is registered outside India wish to start a Society in India, then they need to subscribe to the Memorandum of society in India In India, it is not mandatory to register a Society If a society is registered, it gets legal protection and can avail various benefits provide by the Government. Registration of the society must be done under that jurisdiction under which the Registered Office of the Society is situated. For example, if the registered office is situated in Jaipur, then you need to apply to the State Officer in Jaipur Society has to follow the rules and regulations of Societies Registration Act, 1986 Winding up process of Society is must easier than any other entity. Advantages of Society Registration in India Legal Status to the Entity Societies can open Bank Account They can enter into contracts on its own name Gains legal recognition before forums and authorities A registered society can sue or sued Gets multiple benefits under the Income Tax Act Separate Legal Entity Less Penalties Documents Requirement for Society Registration Memorandum of Association and Articles of Association with by-laws Proof of Registered Office including NOC from landlord and Rent Agreement in case of Rented premises List of all the members PAN Card of all the members Identity and residence proof of all the members A declaration by the president of the proposed society stating that he is competent and willing to hold the prescribed post Acceptable Name for Society As per the provision of Prevention of Improper Use Act, 1950, within the same place, two societies should not have similar names. Below mentioned names are not applicable for society registration: Names prohibited or registered by the State or Central Government through executive instructions are not allowed for Society Government Emblems and Names are not acceptable Name of Indian Institute or University also cannot be registered MOA and Bye-Law On registering a society in Rajasthan, certified copies of Memorandum of Association (MOA) and Bye-laws of Society will be issued. These documents serve as evidence for Society registration in Rajasthan. Memorandum of Association (MOA) MOA of Society is also called an NGO registration form; MOA contains society name, aim and objects, occupations of the members of the committee. Bye-Laws of Society The bye-laws documents contain provisions in respect of the following matters: Society identities such as name and address Information related to activities of Society Society membership details include admission, eligibility, withdrawal and termination of members Details of the manner of meetings to be held, quorum, function and responsibilities Information on office bearers and their appointment, removal, recall and election Finances related data’s such as types of funds to be raised and liability of members for the discharge of debts Data’s related to internal matters of the settlement of internal disputes and dissolution of the Society Note: According to the Society Registration Act, the bye-laws should be witnessed by two witnesses apart from the notary who shall not be members Step by step Procedure of Society Registration Step 1: Finalization of a nameThe first step before registering a society is to select a unique name for the society. The name must not be identical or similar to an already existing registered society and shall not suggest any patronage of state government or central government. Step 2: Draft the Memorandum of AssociationThe next step is to draft Memorandum of Association as per Section 2 of the Society Registration Act, 1860 which must include the following: Name of the society Registered Address of the Society Area of operation of the society Objects of the Society for which it is formed Name, address and other relevant details of the directors, members or other councils of the governing body who shall be regulating the management of affairs of the society Name of the governing body Desirous PersonsIn addition to Memorandum of Association, a copy of the rules and regulations of the society has to be filed which must be certified by at least 3 members of the governing body   Step 3: Preparation of other necessary documentsDocuments relating to cover letter, declaration, minutes of the meeting,

Hero MotoCorp is one of India’s leading two-wheeler company and with an excellent range of two-wheelers that ensure both comfort and style. It was formerly known as Hero Honda Motors Limited and now is made its mission to become the largest two-wheeler company, not only in India but globally by setting benchmarks in performance, style and technology. The company’s extensive sales and service network are spread across 6000 customer touch points which include service and spare parts outlets, authorised dealerships, and dealer-appointed outlets across the country. Automobile Industry in India The Indian automobile industry is the 4th largest industry in the world with sales increasing by 9.5 % year-on-year to 4.02 million units (excluding two-wheelers) in 2017. The two-wheeler segment dominates the market in terms of volume owing to a growing middle-class people and young population. India is also a leading auto exporter and has stable export growth expectations for the near future. Automobile exports grew 26.56 per cent during April-July 2018. Also is the CAGR( Compound Annual Growth Rate ) of 3.05 % is expected to grow at a during 2016-2026. Why Hero MotoCorp Franchise Dealership? Hero MotoCorp was started in 1984 at the time when people were not so much used to motorcycles. It is widely known for its light and affordable motorcycles in the country. It owns a massive 46% market share for two-wheelers in India. Hero MotoCorp brand has over 33 years of expertise in the automobile industry. Country’s largest two-wheeler manufacturer. Two-wheelers are produced crosswise over four internationally benchmarked manufacturing premises. Fuel-efficient and low maintenance motorcycles. The company offers 19 models of Motorcycles and Scooters in the price range of Rs. 40K to Rs. 1.08 Lakhs. 6000 service centres across the country Franchise Details Area Requirement- Hero MotoCorp service centre would require a lounge for the customers, working area, a parking area for bikes, space for display bikes, an office and other related merchandise. To include all these facilities, the space required should have a minimum area of 3000 – 4000 square feet. Cost and investment- The cost of starting a Hero MotoCorp Franchise Dealership will differ according to the location of the centre. Apart from the variation in land cost, the investment sum amount required to start a franchise dealership will be from INR 50 Lakhs to 1.5 Crore. Return on Investment-Return on Investment (ROI) is a kind of performance measure to provide the amount of return on an investment that can be expected 18% on sales or services. Note:-  Location for the unit franchised outlet should be on the ground floor, and minimum frontage around 50-70 feet is required for setting up the Hero MotoCorp Showroom Expansion Location North- Delhi, Jammu and Kashmir, Uttar Pradesh, Haryana, Himachal Pradesh,  Punjab, and Uttaranchal South- Kerala, Karnataka, Tamil Nadu, Andhra Pradesh East- Assam, Meghalaya, Mizoram, Tripura, Arunachal Pradesh, Manipur, Nagaland, West Bengal, Sikkim, Odisha West- Gujarat, Rajasthan, Maharashtra, Goa Central- Chhattisgarh, Madhya Pradesh, Bihar, Jharkhand Union Territories-Pondicherry, Chandigarh, Lakshadweep, Daman and Diu Hero MotoCorp Franchise Services And Training The company supports the franchisee for setting up the design and construction. It provides assistance in business development, i.e. site selection support. It provides necessary operational support for the franchise. It provides marketing support for local and regional advertising. Technical knowledge and administrative assistance will be provided to the franchisee during the term of the agreement. Proper training is given to all crew members and franchisees. Expert guidance from Head Office will be provided to the franchisee while opening the franchise dealership. Prevailing IT systems will be incorporated in the franchise. Application Procedure for Hero MotoCorp Franchise Dealership Step 1: Official Website The applicant should enter into the official website of Hero MotoCorp. Step 2: Franchise Registration Click on ‘PARTNER WITH US’ option which is available on the home page of the portal. Step 3: Application Form On the next page select the “Start Application” option, and now the application form for the franchise will open up on the screen Step 4: Complete the Details Fill up the  franchise dealership application form with the appropriate details like Applicant name Email Phone Location Profession Address Existing firm/company name Step 5: Submit the Application After filing the details, the applicant should click on  “Save and Continue ” option for successful registration. 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To achieve effective order fulfillment, various operations in a warehouse must run at a constant speed. As technology evolves, corporate managers are adopting apps, digital management systems, and tech tools to boost productivity and decrease expenses wherever feasible. The impact of a dark warehouse in the supply chain network would develop beyond the limit with the automation system in the dark warehouse concept. It would be highly advantageous in the near future. Dark warehouse creates a light-out facility in the supply chain and logistics sector using robots and total automation. Fully automated warehouses can be a bit of a taboo subject for companies at times. After all, jobs performed by robots cannot be fulfilled by people. However, today’s very low unemployment rate means that more and more companies are having a hard time finding workers for these jobs, so they are being forced to consider warehouse automation. This does sound like a dream scenario for supply chain executives: high productivity without the ancillary costs associated with a human workforce. With the rise of ecommerce, more and more customers are shopping online and having items shipped directly to their homes or a store nearby. These customers are also expecting their orders to arrive more quickly than ever before, driving the need for streamlined and constant productivity in warehouses. Because of this, dark warehousing is becoming a more and more popular option, even though it can be costly to implement upfront. What is a Dark Warehouse? Dark warehouses have fully automated material handling equipment, warehouse execution systems, and automatic inventory and shipment identification. The term “dark” alludes to the facility’s absence of human involvement. In other phrases, automated systems do not need lights to function, allowing the warehouse to operate in the “dark.” Dark establishments are generally located in the suburbs and outside of cities to provide curbside pickup and same-day delivery. They might be at the rear of a supermarket or retail shop or have their own building or area. A dark store is frequently located in a former retail location that the owners must repurpose owing to a lack of in-store activity and razor-thin profits. What are the Advantages of Dark Warehouses? Robotic workforces have many advantages over their human counterparts: They do not require breaks or vacations. The same machines can run all three shifts of the day without getting tired or complaining. They can withstand temperature extremes better than humans can (thus saving on heating/cooling costs), they do not need health insurance, etc. All of these benefits can lead to significant cost savings for an organization. A dark warehouse is also generally a quicker and more efficient solution, as there is less chance for errors and slowdowns with automated machines. These warehouses can also operate 24/7 with no breaks, which can almost double productivity in many instances. Disadvantages of a Dark Warehouse The downside of a dark warehouse is the tremendous upfront capital expenditure. While human labour is costly over the long haul, that money is paid out in small increments. To fully automate a warehouse requires a great amount of upfront cost that many companies can have a hard time justifying. Dark warehouses also have the limitation of simplicity. The higher the complexity of a process, the higher the cost of an automated process. Regardless of that high upfront capital expenditure, a dark warehouse is becoming a goal for many. These types of facilities are most possible in warehouses where human workers are moving large quantities of the same types of objects repeatedly.  Another type of facility that is a good candidate for full or near-full automation is cold storage or freezer warehouses. These are commonly used in the food and beverage and pharmaceutical industries. Automation reduces the exposure of human workers to adverse conditions and lowers the costs of maintaining appropriate climate control. Who Uses Dark Warehouses? COVID also revealed weaknesses in many organizations’ vast – and often sophisticated – worldwide supply networks. The shutdown of a single firm, or even the slightest disturbance, might affect delivery schedules throughout the supply chain. Shutdowns and shipping delays might halt manufacturing on the opposite side of the globe, resulting in supply shortages. Given the price of full automation, e-commerce enterprises or third-party logistics providers contemplating this technology should understand how it will be employed in their circumstances. Full automation is costly, especially if the warehouse activities require choosing things of varied sizes. Changes to the warehouse layout would also be costly and time-consuming. As a result, it is best suited for low-variability warehousing tasks, such as choosing products of comparable size and quantity. Dark warehouses are also ideal for cold or frozen storage systems since they assist in maintaining a constant temperature in the warehouse space and are not conducive to human labour. Pre-requisites to Dark Warehouses 1. Dark retailers are revolutionizing the last mile delivery scenario by focusing on consumer convenience, meeting growing demand, and accessibility. It has changed the way items are delivered to customers. The growing need for dark stores has led to the fast growth of urban logistical spaces. Efficient order management and inventory management systems may help dark shop enterprises improve order processing and the customer experience. 2. Seize control of the inventory, as inventory data is only as good as the data collected. So, now that you’ve established that your data will be collected with maximum precision and durability via automation, it’s time to apply that data to inventory control. 3. Dark stores hold vast volumes of merchandise. As a result, the store architecture must be designed to allow for effective stock allocation for simple selection and quick delivery of requested products. It is critical to design the zone allocation, equipment, hardware, aisle, and warehouse rack space planning to obtain the best output with the least amount of labour. 4. Install a Warehouse Management System as it automates these time-consuming procedures by directing processes such as picking, putaway, and replenishment along optimum pathways that eliminate needless movement and reduce the time taken to complete

Aggregator Business Model is a network model where the aggregator firm collects information about particular offering providers, sign contracts with such providers, and sell their services under its own brand. Since the aggregator is a brand, it provides an offering that has uniform quality and price, even though it is offered by different partner providers. The offering providers never become aggregator’s employees and continue to be the owners of the product or service provided. Aggregator just helps them in marketing in a unique win-win manner. What is an Aggregator Business Model? The aggregator business model is a new term, you need a quick update about the trends and aggregator business model examples!  More than 20 vast and renowned companies from different segments, including transportation (Ola, Uber,  Lyft, Grab), food delivery (UberEats, Swiggy, Deliveroo), travel (Booking.com, Airbnb, TripAdvisor), e-commerce (Flipkart, Amazon, Alibaba, eBay), financial services (NerdWallet, Amazon Prime Video, Netflix, Apple Music), real estate, healthcare and various segments have incorporated the model. They are established as the market leaders already!    The Aggregator Business model collects info about various products or services from different sources and then presents it to you in a way that’s easy to understand. And when you make a purchase using this platform, the aggregator business gets a little something back – a bit like a thank-you gift. Why Should You Care? It’s a total game-changer. You get access to an extensive array of choices without the headache of hopping between countless websites. It’s like having a personal shopper who does all the legwork. And businesses? They love it, too. It’s like having a spotlight that shines on them, helping them reach a much larger audience. Let’s Break Down the Aggregator Model Two-Sided Playground: –Picture the aggregator business as a grand bazaar, connecting two main groups – folks like you (the consumers) and the businesses. It’s a digital hub where you can browse and shop from various companies all in one spot. The Magic of Numbers: –Aggregator businesses thrive on what’s called “network effects.” In simple terms, the more people use the platform, the better it becomes. More choices attract you, and more customers attract businesses – it’s a beautiful cycle. Data, the Superpower: –Aggregator businesses are like data wizards. They collect heaps of info about what you like, what businesses offer, and more. But here’s the cool part: they use this data to improve the platform and bring in more folks like you. The aggregator business model is like having your shopping assistant, but data and tech power it. It’s shaking up how we shop and how businesses grow. Keep an eye on it because it’s changing the game! The Evolution of Aggregator Business Models Historical Context of Aggregator Models in Business Aggregator business models are not new; they’ve been around for centuries. Think of early merchants who gathered goods from different makers and sold them in one place – aggregation in action. This made it easier for consumers to explore a broader range of choices and compare prices conveniently. How Technology and the Internet Have Shaped the Aggregator Model In the 20th century, aggregator models expanded into various industries like finance, media, and travel. Technology and the internet turbocharged this evolution. Here’s how: Global Reach: The internet allowed aggregator businesses to collect and distribute information globally. Take Amazon, for instance. It aggregates products from sellers worldwide, delivering them to consumers everywhere. The scale would have been inconceivable without the internet. Real-World Case Studies of Adaptation Netflix: Originally a DVD-by-mail service, Netflix shifted gears to streaming as technology advanced. It now aggregates content from various sources and serves it to consumers online. Uber revolutionized transportation by aggregating driver and rider data for ride-hailing services. It outshone traditional taxis with convenience and affordability. Airbnb: Airbnb transformed travel accommodation by aggregating vacation rentals from diverse owners. It became a disruptor in the hotel industry with more affordable and unique lodging options. These cases underscore the adaptability and power of the aggregator model. But that’s not all; trends like artificial intelligence, the gig economy, and expansion into new markets are also shaping the aggregator landscape. In short, the aggregator business model is a dynamic force that is constantly evolving. Businesses that navigate these changes effectively are poised for future success.  Advantages of the Aggregator Business Model Cost-effectiveness: Aggregator businesses are savvy at achieving economies of scale. By bringing together products or services from multiple providers, they cut costs and pass on the savings to consumers. It’s like a bulk discount for everyone. Scalability: Aggregator businesses are incredibly flexible. They can easily expand or shrink operations because they don’t need to own or manage the underlying assets. It’s like having a business that can grow or downsize on demand. Diverse Revenue Streams: Aggregator businesses are like financial maestros, juggling multiple revenue sources. They earn money through commissions, transaction fees, and even advertising. This diversity helps them weather storms and stay profitable. Challenges and Risks of the Aggregator Model Regulatory Issues: Aggregator businesses often walk a tightrope of regulations, from antitrust laws to consumer protection rules. Staying on the right side of the law is crucial. Competition: The aggregator world is fierce. Rival aggregators and traditional businesses all vie for attention. To succeed, aggregators must stand out and offer something unique. Maintaining Quality and Trust: Since aggregators don’t produce the goods or services themselves, ensuring consistent quality can be challenging. Building and maintaining trust with customers is vital. Steps to Start an Aggregator Business Market Research and Niche Selection: Your journey begins with thorough market research. Identify a niche that’s ripe for aggregation. Consider market size, competition levels, and growth potential. This crucial step lays the foundation for your business. Partner Acquisition and Onboarding: With your niche in mind, seek partners offering the products or services you aim to aggregate. Reach out to potential collaborators and develop onboarding processes to integrate them into your ecosystem smoothly. Technology Infrastructure: Invest in a robust technology infrastructure to support your aggregator business. This includes building a user-friendly website or mobile app and establishing seamless integration