May 29, 2024

Key Licenses required to Start a Retail Business in India

Despite being one of the world’s largest retail markets, a mere 12% of retail businesses in India operate within the organized sector, equipped with required registrations and licenses necessary for legal compliance. Digitization of licensing services across regulatory authorities has undoubtedly eased their application processes. However, the scarcity of precise information about these processes has left entrepreneurs struggling in the public domain. Retail businesses are the most common form of business establishment found around the globe. These entities directly interact with the customers to sell their products. To start a retail business you would need a successful business model and a few licenses. Types of Goods Sold in Retail Shops Some of the different types of goods available are:  Convenience Goods  Shopping goods  Speciality Goods  Unsought goods  Impulse goods  Convenience Goods These are goods that are readily available for the consumption of the consumer. They are the most demanded and common products out there. Further, they include products used for daily use and immediate consumption, such as milk, vegetables, fruits, etc., which are considered essential for daily life and routine. They are inexpensive.  Shopping Goods These include goods that require research, comparison and planning. Unlike convenience goods, these goods cannot be bought immediately. They are bought to use over a long period to fulfil tasks in the long run. Such goods include clothing, electronics, furniture, etc.  Speciality Goods Such goods will normally be reserved for an upper class of people who have the financial means to purchase such a product. This includes rare, unique products and is not easily available to everyone. The marketing of such goods is also so that it only targets that part of the consumer group that can provide such products. The ideal example of such goods is jewellery, luxurious cars, watches, accessories, etc. Unsought Consumer Goods These are such goods which are readily available but not purchased regularly. They only fulfil a particular requirement and are only bought by consumers when the need for such a product arises. Examples of which are hardware store goods, electrical components goods, etc.  Benefits of starting a business in the retail industry Easy passage to market, making things simple to analyse Reduced costs Potential for rapid growth Widen your market/export ideas and reach. Customer intelligence Licenses And Permits Required By Retail Shops In India Obtaining licenses and permits required by retail shops in India ensure their legal compliance with local laws and regulations. Additionally, beyond mere legal obligations, these licenses play a pivotal role in ensuring the seamless functioning of business operations as well. From crucial tax documents like business PAN and TAN to labour law registrations under the Shops Act and Professional Tax Act, each of these licenses and permits hold a distinct significance in running a retail business in India. Besides, certain industry-specific licenses may be required to comply with sectoral regulations too. Permanent Account Number (PAN) PAN or Permanent account number is a unique 10-digit alphanumeric code assigned to all individual and non-individual taxpaying entities by the Income Tax Department of India. Besides serving as proof of identity, PAN cards are needed by businesses for opening bank accounts, tax registrations, and filing income tax and GST returns. Besides, the Income Tax department tracks all of your business transactions, bank account activities, and tax compliances using your business PAN card. Therefore, acquiring a PAN card was made mandatory in the Income Tax Act, of 1961.You can apply for a business PAN card online by filling Form 49 A on the NSDL or the UTTISL websites by selecting ‘firm’ in the ‘type of application’ section. Provide other details like the name of the business, address of the office, date of incorporation, etc. You will receive your e-PAN card within 7 days and have it delivered to your registered office address within 15 days from the date of application. The application fee amounts to Rs.107 for Indian applicants. Taxpayer Account Number (TAN) Like PAN, TAN is also a unique 10-digit alphanumeric code issued by the Income Tax Department. Your business needs to apply for a TAN in case it is involved in a Tax deduction at the source activity for its employees, staff, or any other entity providing service to it. Under Section 203A of the Income Tax Act, 1961, it is mandatory to quote the Tax Deduction Account Number (TAN) allotted by the Income Tax Department (ITD) in all TDS returns and Challans while depositing the tax in a designated Bank. Additionally, it is mandatory for employees to quote TAN while claiming TDS in their Income tax returns. You can apply for it online by filling out Form 49B available on the NSDL website. The application fee, inclusive of taxes is Rs.65 only. Trade License Trade licenses are issued by municipal corporations or state governments to newly established businesses resident and operational within their boundaries. These licenses allow businesses to carry out a particular business activity at a certain location mentioned in the license application. Trade licenses do not provide any ownership rights for the property which the business is operating from. Besides enabling businesses to trade products and services, it also helps government regulatory bodies monitor and control all business operations carried out within the state.Trade Licenses are categorized into Industrial, Shops, and Food Establishment licenses. The Shops license is essential for shops involved in the sale of hazardous substances like firecrackers, firewood, fireworks, etc. If your shop sells food or related items, you must also acquire the Food and Establishment license. As a shop owner, you are eligible to apply for a trade license only if you are 18 years of age or above, have no criminal record, and are running a legal business in the shop.The application should be submitted 30 days before the business begins operations. You can apply for a trade license on the official website of the state government or directly apply to the office of the municipal corporation. You will receive it within 7-10 days from the date of application. Once

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Maharashtra Birth Certificate

In India, every birth has to be registered with the concerned State Government as per the provision of Registration of Birth & Death Act, 1969. The birth certificate is an essential legal document issued by Government to record a person’s birth and identify them by name, place, date of birth and parentage. Every citizen needs to obtain a birth certificate to avail various facilities provided by the Government.  Maharashtra.  Registration of Birth & Death Act, 1969 Registration of Birth & Deaths Act, 1969 governs the procedure for registering birth and death in India. According to this registration act, every birth has to be registered with the concerned state Governments within 21 days of its occurrence. Department responsible for issuing birth certificate Maharashtra are: Rural Development Department Municipal Corporation of Greater Mumbai Urban Development Department Purposes The birth certificate is one of the important proof for applying voter ID To get admission in an educational institution, the birth certificate is necessary The birth certificate serves an important proof for entering military service The birth certificate is important for settlement of inheritance and property rights To receive insurance benefits The birth certificate needs to be submitted in some places to get a marriage certificate and prove age For obtaining driving licence and passport in India To receive pension and health insurance provided by the Government Documents Required Identity proof of the parents for verification Parent’s marriage certificate Letter from the hospital – Proof of birth of the child issued by the hospital where the child is born Parents’ birth certificate or SSC marks sheet Offline Method The offline method to obtain a birth certificate Maharashtra. Application form in prescribed format along with a declaration needs to be furnished at the concerned Registrar office. After verification by the authority, details of birth will be updated correspondingly to Maharashtra state birth records. Following details to be provided: Date of birth of the child Gender of the child Name of child – If not named, leave blank Name of the father or Mother Place of birth Method of Delivery Weight of the child Details of Hospital where the child is born Online Method Step 1: Visit the Birth and Death Registration online portal for birth registration. Step 2: The applicant needs to login to the portal for registering the birth. Step 3: Provide all the required details and click on submit. Step 4:  In case of birth occurred in a house, click on this link for registration. Step 5: Download the application form and take a print out. Submit the application form to the concerned Registrar. Step 6: After the successful submission of the application, the applicant will get a confirmation mail on the registered e-mail id. Step 7: Status of the application will be updated through the mail. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration in Noida | Company Registration in lucknow Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA Most read resources tnreginet |rajssp | jharsewa | picme | pmkisan | webland | bonafide certificate | rent agreement format | tax audit applicability | 7/12 online maharasthra | kerala psc registration | antyodaya saral portal | appointment letter format | 115bac | section 41 of income tax act | GST Search Taxpayer | 194h | section 185 of companies act 2013 | caro 2020 | Challan 280 | itr intimation password |  internal audit applicability |  preliminiary expenses |  mAadhar |  e shram card |  194r |  ec tamilnadu |  194a of income tax act |  80ddb |  aaple sarkar portal |  epf activation |  scrap business |  brsr |  section 135 of companies act 2013 |  depreciation on computer |  section 186 of companies act 2013 | 80ttb | section 115bab | section 115ba | section 148 of income tax act | 80dd | 44ae of Income tax act | west bengal land registration | 194o of income tax act | 270a of income tax act | 80ccc | traces portal | 92e of income tax act | 142(1) of Income Tax Act | 80c of Income Tax Act | Directorate general of GST Intelligence | form 16 | section 164 of companies act | section 194a | section 138 of companies act 2013 | section 133 of companies act 2013 | rtps | patta chitta

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Delhi Encumbrance Certificate

Delhi encumbrance certificate is one of the important legal document needed at the time of buying the property. Encumbrance certificate declares that there are no dues on the property, and the title of the property is clear and marketable without any obligations. Encumbrance certificate contains details of all transactions done on the specific property. In India (Delhi), the Department of Registration issues encumbrance certificate.  Details Present in the Certificate All transactions are relating to the property that has been registered by the Registrar. All necessary details in the sales deeds will be added in the EC. The Certificate usually concerns a specific period and transactions applicable to that period alone mentioned. For gifted deeds, details on gift settlement will be notified. Certain documents, such as testamentary documents and short-term lease deeds, need not be registered as per the law Documents Required Application Form Copy of ration card. Copy of death certificate. Copy of documentary evidence in original representing ownership of the property in the name of the applicant, i.e. sale deed, GPA etc. Affidavit of the applicant about the ownership of the property. Copy of letter/reference of the authority before whom the Certificate is to be submitted. Offline Application Step 1: Approach Sub Divisional Magistrate The applicant can contact the Sub Divisional Magistrate (SDM) of the relevant area to apply for the surviving member certificate. Step 2: Fill out the application form Fill the application form duly self-attested. Step 3: Submit the form After completing the application, submit it along with the required documents that are to be attested by Gazetted Officer. Step 4: Collect the application number Then collect the application number as the confirmation while submitting your application form. Online Application Step 1: Visit the Official website The applicant has to visit the e-District portal of Delhi Government. Step 2: Apply for the Certificate online Click on “Apply for the certificate online” which is on the webpage of the portal. Step 3: Fill the citizen login form On the next page, the applicant has to fill the citizen login form with the user id and password. Step 4: Fill the citizen registration form If not registered already to log in, then the applicant has to fill the citizen registration form. Step 5: Apply for services Click on the “Apply for services” option under the “Apply Online” menu. Step 6: Apply for surviving member certificate Click on the “Apply” button to apply for the surviving member Certificate. Step 7: Complete the details Then the application form for surviving member certificate will open up on the next screen. Step 8: Submit the form Fill  the application form with all the required details such as Applicant details. Details of surviving family members. Identity proof details. Address proof details. And then attach all the necessary documents. Then click on the “submit” button. Step 9: Receive acknowledgement number After submitting the application form, receive an acknowledgement number for further reference. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration in Noida | Company Registration in lucknow Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA Most read resources tnreginet |rajssp | jharsewa | picme | pmkisan | webland | bonafide certificate | rent agreement format | tax audit applicability | 7/12 online maharasthra | kerala psc registration | antyodaya saral portal | appointment letter format | 115bac | section 41 of income tax act | GST Search Taxpayer | 194h | section 185 of companies act 2013 | caro 2020 | Challan 280 | itr intimation password |  internal audit applicability |  preliminiary expenses |  mAadhar |  e shram card |  194r |  ec tamilnadu |  194a of income tax act |  80ddb |  aaple sarkar portal |  epf activation |  scrap business |  brsr |  section 135 of companies act 2013 |  depreciation on computer |  section 186 of companies act 2013 | 80ttb | section 115bab | section 115ba | section 148 of income tax act | 80dd | 44ae of Income tax act | west bengal land registration | 194o of income tax act | 270a of income tax act | 80ccc | traces portal | 92e of income tax act | 142(1) of Income Tax Act | 80c of Income Tax Act | Directorate general of GST Intelligence | form 16 | section 164 of companies act | section 194a | section 138 of companies act 2013 | section 133 of companies act 2013 | rtps | patta chitta

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OLTAS Payment Challan Inquiry

OLTAS, or Online Tax Accounting System, is the initiative of the Income Tax Department. It is a system for collecting, accounting, and reporting of receipts and payments of direct taxes both online and through a network of bank branches.It is for all types of taxpayers. In brief OLTAS is for collection, accounting and reporting of the receipts and payments of Direct Taxes from all kinds of taxpayers, online, through a network of bank branches. To understand what is OLTAS, its features and benefits, you can click here – ‘Online Tax Accounting System (OLTAS)’ .  Any category of direct tax such as income tax, corporate tax, tax deducted at source (TDS), tax collected at source (TCS) etc can be paid using a single copy challan either online or by visiting bank branches authorised for OLTAS. Once taxes are paid by taxpayers, the collecting bank will capture the entire data of the challan and transmit it electronically to the Income-tax Department. Banks also reconcile daily tax collection with the information and data received by Tax Information Network (TIN) from the banks. This enables easy verification/ status checking of all details and information about the tax payments online. Once taxes are paid, tear off portion of counterfoil is given to taxpayers post rubber stamping by collecting bank and in case of online payment, challan is generated immediately. Challan/counterfoil contains Challan Identification Number (CIN) a unique serial number containing the following: 7 digits BSR Code allotted by RBI to the bank branch where tax is deposited Date of presentation of the challan (DD/MM/YY) 5 digits serial number of Challan in that bank branch on that day CIN is a proof of tax payment by a taxpayer which is required to be quoted in income tax returns or communication with the income tax department whenever required. Further, CIN has done away with the requirement of attaching a hard copy of tax paid receipts along with income tax return. Hence, tax paid challan plays an important role and it is imperative to ensure all details filled in the challan are correct. If a taxpayer wants to check the status of tax payments anytime, he/she can do so online. While the way OLTAS works is the same for both income tax directly paid by income earner and also payment of TDS by the deductor. We have discussed the procedure for checking the status of TDS challan online below. OLTAS facilitated the payment of taxes by the taxpayer through a single simplified copy of challan. As per OLTAS, the taxpayer has to use a single and common challan for the following: 1 Challan No. ITNS 280 For payment of regular income tax and corporate taxes 2 Challan No. ITNS 281 For the deposit of Tax Collection at Source (TCS) and Tax Deduction at Source (TDS) 3 Challan No. ITNS 282 For payment of direct taxes like wealth tax, gift tax, estate duty, hotel receipts tax, securities transaction tax (STT) and expenditure tax 4 Challan No. ITNS 283 For payment of Banking Cash Transaction Tax and Fringe Benefits Tax 5 Challan No. ITNS 285 For payment of equalization levy 6 Challan No. ITNS 286 For payment under Income Declaration Scheme, 2016 7 Challan No. ITNS 287 For payment under Pradhan Mantri Garib Kalyan Yojana, 2016 OLTAS was launched in June 2004 with the following objectives Collection of online direct taxes Accounting of online direct taxes Reporting of payments as well as receipts of online direct taxes Payment and generation of CIN OLTAS challan when submitted to a bank branch for payment, the bank will tear-off the appropriate portion of challan and will give it back to the taxpayer after putting rubber stamp containing a unique Challan Identification Number (i.e. CIN). CIN is a unique number comprising of following: 7 digit BSR code. Date of presentation of challan in DDMMYY format. 5 digit serial number of the challan. Time of issuance of tear off a portion to the taxpayer: In case of cash payment – tear-off portion would be allotted immediately. In case of payment through draft or cheque – tear-off portion would be allotted to the taxpayer after realization of draft or cheque. In case of online payment – tear-off portion would be generated immediately after payment processing. The CIN generation represents the proof of payment of tax and the same has to be entered at the time of filing of the income tax return. Status Inquiry for taxpayers Status of TDS Challan can be checked either by using CIN or Tax Deduction and Collection Account Number (TAN) of deductor. While, status enquiry for all kinds of tax payments can be made using CIN based view, status enquiry for TDS challan can be made using both CIN and TAN based view. Challan Status may be viewed after a week from depositing the challan with the bank. While making the query on website, if the following message is displayed ‘no records found for the above query’ or if there is any other discrepancy in the data, taxpayer may enquire with the bank where tax has been deposited. In case of no  satisfactory reply, taxpayers may email/write to National Securities Depository Ltd. TAN based view Visit OLTAS website – https://tin.tin.nsdl.com/oltas/index.html. Click on ‘TAN based view’ under ‘For Tax Payers’. Enter TAN and Challan Tender Date range for a required period (range should be within 24 months). On selecting this option text file containing the following challan details for the selected TAN and period can be downloaded: CIN Major Head Code* with description Minor Head Code** Nature of Payment If the taxpayer enters the amount against CIN, the system will confirm whether it matches with the details of amount uploaded by the bank. This file should be used to verify the challan details mentioned in the Quarterly e-TDS/TCS statement For verifying the challan details import the challan file in the File Validation Utility (FVU) along with the text file (Quarterly e-TDS/TCS statement). On successful validation of Quarterly e-TDS/TCS statement, FVU will provide the matching statistic for challan details mentioned in

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FMB Sketch Online

FMB Sketch Online – The Field Measurement Book (FMB) drawing is a collection of map information held in bulk at each Tahsildar office by the government. The individual survey number drawings in FMBs are kept at a 1:1000 or 1:2000 scale. There are several different subdivisions for every survey number. An owner of real estate is the owner of each subdivision number. FMB shows the exact measurements of the land. Therefore, an FMB sketch is utilised to confirm the land dimensions and property borders in a real estate acquisition process. To perform computations or complete other activities, engineers and other professionals frequently use the FMB to determine the exact dimensions of a field. To ensure that their measurements are accurate, surveyors frequently consult this book.  The FMB could benefit anybody who needs to measure a field precisely. It can aid in ensuring that measurements are conducted correctly, and the outcomes are trustworthy. Features and Benefits of FMB Sketch Online Enhanced Accessibility and Convenience: FMB Sketch Online provides a centralised repository for field measurement sketches, enabling users to access detailed land information conveniently from their homes or offices. Time and Cost Savings: The online platform significantly reduces the associated costs of traditional land record retrieval processes. By eliminating expenses related to transportation, document retrieval, and photocopying, FMB Sketch Online simplifies the process of acquiring property information. Empowerment for Property Owners and Developers: Property owners benefit from the accurate and up-to-date property information FMB Sketch Online provides. For land developers, the platform is a valuable tool for making informed decisions regarding site planning and land utilisation strategies. Promotion of Transparency and Accountability: FMB Sketch Online contributes to a culture of transparency by making field measurement sketches publicly accessible. This openness empowers citizens to scrutinise property information, reducing opportunities for corruption and malpractices in land administration. Strengthens Public Trust: The enhanced transparency provided by FMB Sketch Online fosters confidence in the fairness and integrity of land records management. Government agencies benefit from the platform’s centralised features, simplifying operations and enhancing overall accountability in land administration. Streamlining Land-Related Processes: FMB Sketch Online plays a pivotal role in various land-related processes, including property tax assessment, land dispute resolution, and land development planning. The platform ensures fair and equitable property tax assessment by providing accurate land dimensions. Components of FMB The following are the various components of FMB: G-line F-line Subdivision lines Ladder Extension lines Neighboring field survey numbers These components are further discussed in detail: G-line G-line outlines the making of the entire sketch. It is an imaginary line that converts the sketch into various sizes of triangles to fix the boundary lines and the various points in the sketch.  Errors in G-line will affect all the pertinent calculations. F-line F-line signifies the actual field boundaries in the outer lines of the sketch. Its points are fixed with reference to its offset distance from the G-line. Subdivision Lines Subdivision lines demarcate a small portion of land within a survey number. A sub-divisional extent of a polygon is directly correlated to the extent found for the particular subdivision. The subdivision lines are generally defined through a ladder, or the likes of it; except for the graphical representation in FMB. Ladder The field line points are defined with reference to an offset distance from the G-line. The offset distance may deviate to the left or right side of the G-line. This left or right angle deviation is highlighted by the ladder. Converting the ladder details into electronic data can produce the outline of the FMB sketch. Extension Lines Each survey number field forms a crucial part of the village map, and as a result of it, other fields surround each sketch. The precise direction wherein the subject field joins the neighboring field is depicted on the FMB as an extension line. Neighbouring Field Survey Numbers The other fields surround each of the survey sketches. These surrounding field numbers are marked around each FMB. This facilitates the conversion of FMB’s into D-sketches, and so on and so forth. How to Get FMB Sketch? Head to the Taluk office in the relevant area to obtain a copy of the FMB sketch for the desired land. Approach the Tahsildar with a formal request for the FMB sketch. Fill out a request form specifying the survey number relevant to the land. Complete the form, attest it with your signature, and attach all necessary documents. Submit the entire package to the relevant authority. The Tahsildar reviews the requests, either approving or rejecting them. In case of rejection, an appeal can be made to the District Collector. Pay the required fee and obtain a receipt for future reference. Upon approval, receive the FMB sketch copy of the land, complete with a unique reference number. This systematic process ensures a smooth and regulated acquisition of FMB sketches. FMB Sketch Types: Field Sketch Types Profile Sketches: Profile sketches illustrate the ground profile along a specific line, offering insights into the topographical features and elevations present in the surveyed area. Plan Drawings: Plan drawings provide a comprehensive layout of an area, detailing the placement of buildings, roads, and various features. They offer a visual representation of the spatial arrangement and organisation within the surveyed land. Elevation Sketches: Elevation sketches depict changes in ground elevation along a designated line, making them particularly useful for projects like proposed pipeline routes. These sketches offer a detailed understanding of the terrain’s vertical variations. FAQs How to use FMB? Surveyors and engineers use FMB to record precise measurements and create accurate site maps. It helps verify land dimensions and property borders and is essential in real estate acquisition. What is FMB in the Land Survey? In land surveying, FMB, or Field Measurement Book, is a compilation of map data stored in volumes at the Tahsildar office. It records precise measurements at scales of 1:1000 or 1:2000, providing essential information for surveyors and engineers. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax

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NABH Accreditation for Hospitals

NABH stands for the National Accreditation Board for Hospitals and Healthcare Providers. It is an autonomous body established in India to set and maintain standards for the quality and accreditation of healthcare facilities. NABH accreditation is a recognition given to healthcare organizations that meet certain predetermined standards and criteria for patient care, management, and overall service quality. The accreditation process involves a thorough evaluation of various aspects of a healthcare facility, including infrastructure, patient care, safety protocols, medical records, and overall management. What is NABH Accreditation? NABH accreditation is a way for hospitals in India to implement standards and procedures on par with global benchmarks. NABH is a member of the International Society for Quality In Health Care (ISQUA), an international accreditation body in the areas of healthcare. As a member of ISQUA, NABH has joined a handful of countries that match and authenticate healthcare services to global standards. Thus, a hospital having NABH Accreditation delivers services on par with global standard and serves as a boost to medical tourism in India. Key components of NABH accreditation include: Leadership and Management: Assessing the leadership’s commitment to quality, the effectiveness of management systems, and the overall governance of the healthcare facility. Patient-Centric Approach: Ensuring that the organization is focused on patient safety, satisfaction, and provides timely and effective care. Quality of Care: Evaluating the clinical services, medical records, infection control practices, and the overall quality of healthcare delivery. Staff Competency and Training: Assessing the competence of healthcare professionals, their training, and ongoing professional development. Infrastructure and Facility Management: Examining the physical infrastructure, safety measures, and the overall management of facilities. Continuous Quality Improvement: Ensuring that the healthcare organization has mechanisms in place for continuous monitoring, evaluation, and improvement of its services. NABH accreditation is considered a mark of excellence in healthcare services, and it instills confidence in patients, healthcare providers, and stakeholders. It is a voluntary process, but many healthcare organizations pursue accreditation as a means to demonstrate their commitment to quality and patient safety. The accreditation process involves a comprehensive on-site assessment by qualified healthcare professionals, and organizations must comply with the set standards to achieve and maintain accreditation status. Regular audits and reviews are conducted to ensure ongoing adherence to the established standards. NABH accreditation is not only a recognition of quality but also a continuous journey towards improving healthcare standards and practices. In addition to NABH Accreditation for Hospitals, NABH also provides Accreditation for Small Healthcare Organizations Small Healthcare Organisation is those healthcare organizations having bed strength upto 50 beds. Blood Banks Blood Storage Centres Medical Imaging Services Dental Health Care Service Providers Oral Substitution Therapy Centres Allopathic Clinics AYUSH Hospitals Accreditation Program for AYUSH (Ayurveda, Homeopathy, Unani, Siddha and Yoga & Naturopathy) Hospitals. Community Health Centres Primary Health Centres Wellness Centres Benefits of NABH Accreditation Quality Improvement- The accreditation process encourages healthcare facilities to implement and maintain high standards of patient care, leading to continuous quality improvement in services. Patient Safety- NABH Accreditation emphasizes patient safety protocols and practices, ensuring a safe environment for patients and reducing the risk of medical errors. Enhanced Credibility- Accreditation serves as a mark of credibility for healthcare organizations. It demonstrates a commitment to quality and patient-centric care, which can build trust among patients, their families, and the community. International Recognition- NABH Accreditation is recognized globally, enhancing the reputation of Indian healthcare facilities on an international scale. This can be particularly important for medical tourism. Standardized Processes-The accreditation process involves the implementation of standardized processes and protocols, leading to improved efficiency and effectiveness in healthcare delivery. Having NABH Accreditation has various benefits for the different stakeholders of a hospital. For patients, having NABH accreditation results in high-quality healthcare services delivery and patient safety. For the hospital, NABH accreditation helps the hospital demonstrate the commitment to quality healthcare thereby increasing revenue from foreign medical tourists and domestic patients, looking for quality healthcare service providers. For the medical staff, the Accreditation process serves as a way to have the continuous learning, good working environment and strong clinical processes. NABH accreditation serves to improve the overall professional development of Clinicians and Para Medical Staff. NABH Standards for Hospitals The NABH Standards for hospitals provide a framework for quality of care for patients and quality improvement for hospitals. The standards help to build a quality culture at all level and across all the function of the hospital. The complete NABH Standards consists of 102 standards and 636 objective elements. To obtain NABH Accreditation, a hospital must be willing and able to demonstrate that the hospital functions as per the NABH standards. The following are an outline of NABH Standards: NABH Standards patient-centred Standards Access, Assessment and Continuity of Care (AAC) Care of Patient (COP) Management of Medication (MOM) Patient Right and Education (PRE) Hospital Infection Control (HIC) Organisation Centered Standards Continuous Quality Improvement (CQI) Responsibility of Management (ROM) Facility Management and Safety (FMS) Human Resource Management (HRM) Information Management System(IMS) Process for NABH Accreditation To begin the process for obtaining NABH Accreditation, the hospital management must begin by implementing the NABH standards and nominating a person to coordinate all activities related to seeking accreditation. The person-in-charge and hospital management must understand the NABH assessment procedures and ensure that the NABH standards are implemented in the organization. At least 3 months prior to submission of NABH Accreditation application, the hospital must conduct a self-assessment and ensure that it operates as per NABH standards. If satisfied with the self-assessment, the hospital can make an application to NABH for Accreditation along with the necessary documents and fees. NABH will then conduct a pre-assessment and point out corrections and check the preparedness of the hospital for final assessment. Once the necessary corrective actions are taken, a final assessment will be conducted by NABH by way of a comprehensive review of hospital functions and services. Based on the review and assessment report of the final assessment team from NABH, a NABH Accreditation Committee will award NABH Accreditation. The validity period for accreditation

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SEBI amends Infrastructure InvestmentTrusts (InvITs) regulations 2024

Practice Area Income Tax Return Filing Income Tax Appeal Income Tax Notice GST Registration GST Return Filing FSSAI Registration Company Registration Company Audit Company Annual Compliance Income Tax Audit Nidhi Company Registration LLP Registration Accounting in India NGO Registration NGO Audit ESG BRSR Private Security Agency Udyam Registration Trademark Registration Copyright Registration Patent Registration Import Export Code Forensic Accounting and Fraud Detection Section 8 Company Foreign Company 80G and 12A Certificate FCRA Registration DGGI Cases Scrutiny Cases Income Escapement Cases Search & Seizure CIT Appeal ITAT Appeal  Auditors Internal Audit Financial Audit Process Audit IEC Code CA Certification Income Tax Penalty Notice u/s 271(1)(c) Income Tax Notice u/s 142(1) Income Tax Notice u/s 144 Income Tax Notice u/s 148 Income Tax Demand Notice Psara License FCRA Online The updated regulations now permit privately placed Infrastructure Investment Trusts (InvITs) to issue subordinate units exclusively to project sponsors upon acquiring an infrastructure project. This adjustment aims to reconcile the valuation disparities between the sponsor (acting as the seller) and the InvIT (acting as the buyer). About InvITs: InvITs serve as investment vehicles akin to mutual funds, enabling investors to participate in infrastructure ventures such as toll roads, power lines, and pipelines. These trusts are established by infrastructure companies, approved by SEBI, and designated as borrowers under the SARFAESI Act 2002. The key entities involved in an InvIT include the trustee, sponsor, investment manager, and project manager. InvITs generate revenue through tolls, rents, interest, or dividends from their investments, subsequently distributing taxable earnings to investors. Significance of InvITs: Accessibility: Investors can commit modest sums. Marketability: InvITs are listed on stock exchanges, facilitating easy exit. Transparency: Investors receive comprehensive updates on investment allocations. Security: SEBI regulations ensure a regulated environment for the trusts. Challenges in InvIT Investing: Investing in InvITs poses operational, refinancing, and return-related risks.

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Why Commercialization of Human Milk is Prohibited by FSSAI: Understanding the Health Risks and Socioeconomic Implications

Practice Area Income Tax Return Filing Income Tax Appeal Income Tax Notice GST Registration GST Return Filing FSSAI Registration Company Registration Company Audit Company Annual Compliance Income Tax Audit Nidhi Company Registration LLP Registration Accounting in India NGO Registration NGO Audit ESG BRSR Private Security Agency Udyam Registration Trademark Registration Copyright Registration Patent Registration Import Export Code Forensic Accounting and Fraud Detection Section 8 Company Foreign Company 80G and 12A Certificate FCRA Registration DGGI Cases Scrutiny Cases Income Escapement Cases Search & Seizure CIT Appeal ITAT Appeal  Auditors Internal Audit Financial Audit Process Audit IEC Code CA Certification Income Tax Penalty Notice u/s 271(1)(c) Income Tax Notice u/s 142(1) Income Tax Notice u/s 144 Income Tax Notice u/s 148 Income Tax Demand Notice Psara License FCRA Online In line with the Food Safety and Standards Act, 2006, the Food Safety and Standards Authority of India (FSSAI) firmly prohibits the commercialization of human milk and its derivatives. This directive extends to state licensing authorities, urging them to abstain from granting licenses for such activities. Human milk, renowned for its array of bioactive molecules safeguarding against infections, inflammation, and fostering immune development, has been a cornerstone of newborn nutrition for centuries. Donating breast milk for infants in need has been a longstanding tradition globally, spanning over a century. Outlined in the national guidelines on Lactation Management Centres (LMCs) in Public Health Facilities, the voluntary nature of breast milk donation is emphasized. It’s essential to note that such donations should occur solely within healthcare facilities and not be promoted in community settings. The ramifications of commercializing human milk are manifold. Firstly, it perpetuates the exploitation of low-income women, jeopardizing both their well-being and that of their children, while catering primarily to affluent consumers. Moreover, concerns regarding quality and safety loom large, with potential risks stemming from pathogen transmission and chemical residues. Furthermore, the commodification of human milk exacerbates socioeconomic disparities, as the exorbitant costs associated with it may impede access for marginalized populations. In conclusion, the FSSAI’s stance against the commercialization of human milk underscores the imperative to prioritize public health and equity. Understanding the multifaceted risks and implications is crucial in safeguarding the well-being of both mothers and infants. This is to further inform that FSSAI License in India is required by the business engaged in food business

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