November 12, 2024

For many people, owning a business is their dream. However, the majority of them are plagued by a very basic question – how can I launch a small business. Everyone who wants to establish their own business or is an aspiring entrepreneur will get something . Every business has its pros and cons, it’s just about the best business ideas to make money. It is just about which business you have the passion and zeal to crack. Your skillset also matters a lot in achieving the target. You should be confident enough to implement the skills you possess and manage to overcome the upcoming challenges.  Why do you Need to Start a Small Business? There are many reasons to turn the question of how to start a small business into reality. Small business startups are very crucial to the Indian economy, increase self-reliance, and create employment opportunities. If you have a small business plan to implement, go for it! Did you know that your thoughts on how to start a small business have the following benefits: You can be financially independent  You can follow your passion by following your dreams on how to start with small business You can start a small business startup from home or your basement You can make your own rule and be your own boss With small business startup, you can take advantage of the MSME benefits provided by the government There’s creative freedom You can manage time and find professional personal life balance Small business startups make you self-reliant and you can make your own destiny Introduce new ideas, niche products, and services in the market How to Start with a Small Business Identify a Business Idea Before taking any steps, it’s essential to identify a sound business idea. A well-thought-out plan of your business and how it will operate is essential to succeed in the marketplace. Take time to thoroughly research both the industry and the local competition – you’ll be thankful you did at each step of the way. Identifying your customer base and how you can provide value is critical — after all, this is what will set your business apart from others. Research your Business Idea When it comes to how to start a small business, research is essential. Every aspect of your idea needs to be thoroughly explored to give yourself the best shot at success. Begin by exploring the market and your competitive landscape. Make sure you understand who exactly you are vying for customer attention and how they are likely to respond to your offerings. Secondly, crunch the numbers of how much capital you will need both upfront, as well as what kind of investments can be expected in the long term for marketing or expansion efforts. Understanding how much it will cost – now and down the line – is vital in formulating a winning strategy before launching a small business. A good answer to how to start a small scale business is dropshipping. Create a Business Plan/ Pitch Creating a business plan is one of the most important steps of how to start a small business. While it’s intimidating, it can simplify the entire process and make decisions easier. Having essential points outlined in the business plan can clarify how to proceed, utilize funds wisely, assess potential opportunities and risks, and create long-term goals. Additionally, presenting a business plan outlines how serious you are about your venture. It presents potential financial backers with tangible data they can consider when debating how to invest in your project or idea. It’s also valuable self-reflection because it forces you to think through all angles before moving forward with your idea. Identify Target Market When you’re thinking about how to start a small business, one of the first issues to consider is identifying your target market. It’s critical that you understand who you are marketing to if you want to succeed; without this knowledge, how will you choose appropriate activities and develop a strategy? Secure Financing One of the essential aspects when it comes to how to start a small business is securing sufficient finance. Without the right resources, you could find yourself without the necessary tools and equipment that your business requires to begin trading. It is important to consider how much finance will be needed to cover the initial start up costs without overextending yourself financially. There are many different options available such as taking out a loan, using personal finances, or securing an investor, so it is important to weigh up which one works best for your situation. Establish Business Strategy A well-organized business strategy is essential for how to start a small business and should include factors like how to differentiate your venture from competitors, how each part of the company will function, how resources and finances will be allocated, how products and services will be marketed and how customer engagement will take shape. Planning out each step with precision is key to starting any business on solid footing. Select a Business Name Naming your business is one of the most important steps when it comes to how to start a small business. Choosing the best name can give you an advantage in advertising, marketing and building your reputation. It needs to be simple, easy to remember, and unique to stand out from the competition and accurately reflect what your business offers and how it makes customers feel. Take as much time as necessary to curate a memorable name that will serve as a cornerstone of your company’s identity. Complete the Registration Process If you are starting a small business, you must complete the registration process first. There is a range of different things to consider when becoming an official business. This includes filling out paperwork with pertinent information such as your business name and type, how many partners and employees you will have, how costs will be divided among partners, and how profits will be distributed. Additionally, how you set up your business structure can affect

A Sathin is a local-level worker or volunteer in India, particularly in Rajasthan, involved in women’s empowerment and development programs. The term “Sathin” originates from Hindi, meaning “companion” or “supporter.” These workers play a crucial role in implementing social programs at the grassroots level, especially focusing on women’s issues, child welfare, and community development. The Sathin Program was initiated under the Women Development Program (WDP) in Rajasthan. This program started in the 1980s to address issues like gender inequality, child marriage, female literacy, domestic violence, and women’s economic empowerment. Role and Responsibilities of Sathins Awareness Generation: Sathins are responsible for raising awareness on social issues such as gender equality, health and hygiene, education, and legal rights for women. Community Mobilization: They work to mobilize women and encourage participation in development programs and activities aimed at enhancing women’s skills and livelihoods. Facilitating Government Programs: Sathins are often the link between the community and government schemes, such as maternal and child health programs, vaccination drives, and education initiatives. Advocacy and Counseling: They provide counseling and support for women facing domestic violence or any form of discrimination, guiding them on legal rights and services available to them. Skill Development and Training: Many Sathins are involved in training women in vocational skills, promoting self-employment, and encouraging economic independence. Qualifications and Selection Process Typically, Sathins are women from the local community who have a minimum level of education (often a primary or secondary education). They are chosen based on community support and their willingness to work on social development issues. Challenges Faced by Sathins Low Wages: Sathins are often volunteers or receive minimal compensation for their work, which can make sustaining their role challenging. Social Resistance: As they address sensitive issues like domestic violence and gender inequality, they may face resistance from within their own communities. Limited Resources: They frequently lack adequate resources or logistical support from higher authorities, which limits their effectiveness. Impact of Sathin Program The Sathin Program has brought significant changes at the grassroots level, especially in Rajasthan. It has empowered women in rural areas to stand up for their rights, participate in economic activities, and access essential services. This has led to better awareness of health, education, and legal rights among women in these communities. Sathin List A Sathin List refers to a list of active Sathins in a particular area or district. This list includes details like their names, areas of operation, contact details, and sometimes their specific roles or responsibilities within the community. The list is often maintained by the local Women and Child Development Department or other governmental bodies that oversee the Sathin program. This helps track the deployment and work progress of Sathins across different regions. FAQs What is SATHIN? SATHIN (Social Activist Taking Health Initiatives) is a program initiated to empower women, particularly in rural areas, by involving them in social, health, and community welfare activities. The program aims to raise awareness about health, nutrition, education, and women’s rights in the community. What is the role of a SATHIN worker? A SATHIN worker serves as a grassroots social worker, providing guidance and support to local communities. Their responsibilities include educating women on health issues, promoting literacy, supporting maternal and child health, and helping women understand their legal rights. They also work to reduce social issues like child marriage and domestic violence.

Marriage registration is a crucial legal process in Rajasthan that provides official recognition to a marital union. The Rajasthan Government’s Registrar of Marriages oversees the registration procedure, which is simple and mandatory under the law. Couples can register their marriages online or offline by submitting the required documents, including age proof, residence proof, and wedding invitation card. Acts for Registering Marriage in Rajasthan Marriages performed within the borders of the enchanting state of Rajasthan are governed by either the Hindu Marriage Act, 1955, or the Special Marriage Act, 1954. The registration process for these marriages can be conducted online or through designated Registrar offices. Upon successful registration, a marriage certificate is issued, providing legal recognition to the union Hindu Marriage Act, 1955 Marriages Performed under Hindu Customs: The act is applicable to marriages solemnised as per Hindu customs and rituals. Bride and Groom Should be Hindus: Both the bride and the groom must be Hindus to fall under the purview of this act. Age Requirements: The groom should be at least 21 years old, and the bride should have attained the age of 18 at the time of marriage. Jurisdiction of Registering Officer: The jurisdiction of the Registering Officer in Rajasthan should cover one of the following places: Residence of the groom Residence of the bride Place of solemnisation Special Marriage Act, 1954 To register a special marriage in Rajasthan, the following criteria must be met: Age Requirements: The groom must be at least 21 years old, and the bride should have completed 18 years at the time of the marriage ceremony. Registration Places: Special marriages can be registered at any of the following locations: Registrar Officer in the residence of the groom Registrar Officer in the residence of the bride Registrar Officer at the place of solemnisation Notice of Intended Marriage: For special marriage registration, a notice of intended marriage is first issued. If there are no objections to the marriage within 30 days from the notice, the marriage is registered. Benefits of Applying for Marriage Registration Rajasthan Proof of Marriage: The marriage certificate serves as official proof of the marital union between a woman and her spouse, providing legal recognition to their relationship. Social Security and Confidence: For a married woman, having a valid marriage certificate instils a sense of social security and self-confidence, as it attests to her legally recognised marital status. Financial Benefits: The marriage certificate plays a crucial role in claiming various financial benefits, such as bank deposits or insurance-related benefits, for a spouse after the death of the policyholder in the absence of any nomination. Passport Application: The marriage certificate is essential for applying for a passport under the Tatkal scheme. Additionally, it facilitates the process of changing the spouse’s name in the passport. Legal Recognition: The marriage certificate provides legal recognition to the marriage in various official and legal processes, making it a vital document for several administrative and legal matters. Property Rights: The marriage certificate establishes the legal basis for property rights and inheritance, safeguarding the interests of both spouses in matters of assets and properties. Visa and Immigration: The marriage certificate is often required for visa and immigration applications, making international travel and settlement smoother for married couples. Children’s Rights: A valid marriage certificate is essential for establishing parental rights and responsibilities, ensuring the welfare and rights of any children born within the marriage. Social and Cultural Functions: The marriage certificate is frequently required for participating in social and cultural functions, formalising the couple’s presence as a married unit in various events. Legal Protection: Having a registered marriage certificate provides legal protection to the couple’s rights and interests, offering recourse in case of any disputes or disagreements. Documents Required Age proof of both the groom and the bride. Address proof such as Ration card, Voter ID, Passport, or driving license. Additional address proof like Aadhaar Card, PAN Card, and Voter ID. Joint photograph of the couple. Completed application forms. Affidavit. Applying for Marriage Certificate through eMitra Centre Step 1: Complete the Application Form and Affix Photos: Begin by filling out the application form with all the necessary details. Affix recent photographs of both the bride and the groom as required. Step 2: Provide Details in Affidavit: Prepare an affidavit providing relevant details about the marriage, including the date, place of solemnisation, and the names of the bride and groom. Step 3: Visit the eMitra Centre: Head to the nearest eMitra centre in your location. Present the completed application form, affidavit, and all other required documents to the service centre representative. Step 4: Obtain the Application Receipt: After submitting the application and necessary documents, you will receive a receipt from the eMitra centre. This receipt acknowledges the submission of your application. Step 5: Collect the Marriage Certificate: Once the Registrar approves the application and verifies the provided information, you can collect the official marriage certificate from the Registrar’s office. FAQs What is Marriage Registration in Rajasthan? Marriage Registration is the process of legally recording a marriage between two individuals under the relevant laws in India. In Rajasthan, marriage registration is mandatory to obtain a legal acknowledgment of the marriage, which is essential for various legal and administrative purposes. Is It Mandatory to Register a Marriage in Rajasthan? While marriage registration is not mandatory under religious laws, it is highly recommended to ensure that the marriage is legally recognized. For couples who marry under the Special Marriage Act, marriage registration is compulsory.

Individuals who have shifted their residential address will have to make an application to their respective Regional Transport Office to reflect the change in their driving licence. This can be done either online or offline. Documents to Change of Address in Driving Licence Online Application in Form 33 Certificate of registration Proof of new address Valid insurance certificate Pollution under control certificate No Objection Certificate (in case of loan) Smart card fee (may be required in some states) Attested cop of PAN card or Form 60 and Form 61 (as applicable) Chassis & Engine Pencil Print (may be required in some states) Signature Identification of owner (may be required in some states) Online Process to Change the Address on Driving Licence Step 1: Visit the official website of Parivahan Sewa Step 2: Click on ‘Driving Licence Related Services’ from the drop-down menu under ‘Online Services’. Step 3: Select the state from the drop-down menu. Step 4: Select ‘Apply for Change of Address’ icon. Step 5: Click on ‘Continue’ Step 6: Enter the ‘Driving Licence Number’ and ‘Date of Birth’. Step 7: Click on ‘Get DL Details’. Step 8: Confirm that the driving details mentioned belongs to you. Select the option from the drop-down menu present beside the question. Step 9: Select the ‘RTO’ Step 10: Click on ‘Proceed’. Step 11: Add all the required details. Step 12: Check the box against ‘Change of address on DL’. Step 13: Choose one option out of ‘Permanent’, ‘Present’, or ‘Both’ as per your requirement and fill the required details. Step 14: Click on ‘Confirm’ and ‘Submit’ Step 15: Pay the processing fee. Offline Process to Change the Address on Driving Licence If you want to make an application offline, the first step to having your residential address changed in on your driving license is to obtain a No Objection Certificate / Clearance Certificate from the RTO from where you attained your driving license. Once you have obtained the CC / NOC, you will be required to go to the nearest RTO if you wish to apply for a change of address. You would need a caste certificate and an income certificate issued by Tahsildar. if you don’t have valid ID proof Along with the caste certificate, one has to submit other documents like a duly-filled application form, and address proof (like ration card, passport, voter ID, telephone bill, or water bill). For address change, get these documents verified by the superintendent and pay the processing fees. You will receive a receipt/acknowledgement slip confirming your application. The driving licence will be delivered within 30 days from the date of application. To correct address offline, follow the steps mentioned below: Step 1: Visit the nearest RTO office. Step 2: Get the address change form or you can download the form online from Parivahan website. Step 3: Fill the form and submit at the RTO along with all the required documents. Step 4: The RTO superintendent will verify your documents. Step 5: Upon completing verification, pay the fees for address change and collect the receipt. Step 6: Keep the receipt safely until your new Driving Licence arrives. The Driving License will be posted on your new address within 30 days after making application. FAQs Why Do I Need to Change the Address on My Driving License? You need to update your address on your driving license if you’ve moved to a new residence. This ensures that the information on your license is accurate, and it helps in case of any legal, official, or communication requirements related to your driving record. How Long Does It Take to Update the Address on My Driving License? The process of updating your address on the driving license usually takes 7 to 14 working days once your application is processed and approved by the RTO. If you apply online, you will receive a temporary acknowledgment until the new license is issued.

Capital gain is denoted as the net profit that an investor makes after selling a capital asset exceeding the price of purchase. The entire value earned from selling a capital asset is considered as taxable income. To be eligible for taxation during a financial year, the transfer of a capital asset should take place in the previous fiscal year. Financial gains against a sale of an asset are not applicable to inherited property. It is considered only in case of transfer of ownership. According to the Income Tax Act, assets received as gifts or by inheritance are exempted in the calculation of income for an individual. Buildings, lands, houses, vehicles, Mutual Funds, and jewelry are a few examples of capital assets. Also, the rights of management or legal rights over any company can be considered as capital assets.  What Is a Capital Gain? A capital gain refers to the increase in the value of a capital asset that is realized when it is sold. In other words, a capital gain occurs when you sell an asset for more than what you paid to purchase it. The Internal Revenue Service (IRS) taxes individuals on capital gains under certain circumstances. Almost any type of asset you own is a capital asset. They can include investments such as stock, bonds, or real estate, and items purchased for personal use, such as furniture or a boat. The following are not included under capital assets Any stock, consumables or raw materials that are held for the purpose of business or profession. Goods such as clothes or furniture that are held for personal use. Land for agriculture in any part of rural India. Special bearer bonds that were issued in 1991. Gold bonuses issued by the Central Government such as the 6.5% gold bonus of 1977, 7% gold bonus of 1980 and defense gold bonus of 1980. Gold deposit bonds that were issued under the gold deposit scheme (1999) or the deposit certificates that were issued under the Gold Monetisation Scheme (2015). Types of Capital Gain Short Term Capital Gain If an asset is sold within 36 months of acquisition, then the profits earned from it is known as short term capital gains. For instance, if a property is sold within 27 months of purchase, it will come under short term capital gains.  However, tenure varies in the case of different assets. For Mutual Funds and listed shares, Long term capital gain happens if an asset is sold after holding back for 1 year. Long Term Capital Gain The profit earned by selling an asset that is in holding for more than 36 months is known as long-term capital gains. After 31st March 2017, a holding period for non-moveable properties was changed to 24 months. However, it is not applicable in case of movable assets such as jewelry, debt-oriented Mutual Funds, etc.  Furthermore, a few assets are considered as short-term capital assets if the holding period is less than 12 months. Here is a list of assets that are considered according to the rule mentioned above –  Equity shares of any organization listed on a recognized Indian stock exchange. Securities like bonds, debentures, etc. that are listed on any Indian stock exchange. UTI units, regardless of being quoted or unquoted. Capital gain on Mutual Funds that are equity-oriented, whether they are quoted or not. Zero-coupon bonds. All the assets mentioned above are considered as long-term capital assets if they are held for 12 months or more. In case of any asset acquired by inheritance or gift, then the period for which an asset is owned by a previous owner is considered. Calculation of Capital Gains Full Value Consideration –  It is the consideration that is received by a seller in return for a capital asset.  Cost of Acquisition –  The cost of acquisition is the value of an asset when a seller acquires it. Cost of Improvement –  The cost of improvement is the amount of expenses incurred by a seller in making any additions or alterations to a capital asset. To calculate the value of short term capital gain, the full amount of consideration is required to be determined at first. From the obtained value, cost of acquisition, cost of improvement and the total expenditure incurred concerning the transfer of ownership has to be deducted. This resultant value will be the capital gain on investments. Indexed Cost of Acquisition The cost of acquisition is calculated on the present terms by applying the CII (Cost Inflation Index). It is done to adjust the values by taking into account the inflation that takes place over the years while holding the asset. The indexed cost of acquisition can be estimated as the ratio of the Cost Inflation Index (CII) of the year when an asset was sold by a seller and that of the year when the property was acquired or the financial year 2001-2002, whichever is later multiplied by the Cost of acquisition. Suppose, a person acquired an asset at Rs. 50 Lakh in the financial year 2004-2005 and she decided to transfer the property in the fiscal year 2018-19. The CII of the financial year 2004-05 and 2018-19 were 113 and 280 respectively. Therefore, the indexed cost of acquisition will be 50 X 280 / 113 = Rs. 123.89 Lakh. Indexed Cost of Improvement The indexed cost of the improvement is calculated by multiplying the associated cost of improvement that was required to the CII of the year divided by the CII of the year in which the improvement took place. Tax Exemptions on Capital Gains 1. Section 54 If an amount earned by selling a residential property is invested to purchase another property, then the capital gains earned by transferring the ownership of a property is tax exempted. However, deductions can be claimed only if the following conditions are met –  Individuals are required to purchase a second property within 2 years of sale or 1 year before transferring the ownership. In the case of an under-construction property, the purchase of a second property should be