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In India, youth folk’s entrepreneurship desires seem to be on the upswing. The main factor about this is that there are currently several more technology options throughout the nation and enabling transforming a business is incredibly easy. The main export items made in the region are hand-print fabrics, marble statuettes and enamel products. Jewelry, brass and lacquer products, wool carpets. Printed fabrics and clothing. All of these products are currently being exported, but still have huge export potential in the international market.  Choose a Business Structure: Decide on the legal structure of your business, such as a sole proprietorship, partnership, limited liability partnership (LLP), or private limited company. Register Your Business: Register your business with the Registrar of Companies (ROC) or the appropriate authority depending on the business structure. You may also need to register with the Rajasthan Shop and Establishment Act if applicable. Six types of business models Affiliate Marketing: Get a commission every time you promote and sell another company’s products and services online with this passive income idea. Freelance: Use your existing skills, such as advertising, writing, design, or programming, to provide services to other individuals and companies. Coaching and Consulting: Become a coach or consultant and sell your experience, advice and recommendations. Information Products: Packaged experiences in eBooks, worksheets, templates and online courses. Software as a Service: You create software or applications and charge users a subscription fee. E commerce: Use services to build websites and sell objects online. Business in Rajasthan Rajasthan is also renowned for its vibrant colors and traditional dance, passionate melodies, and ostentatious displays of culture and heritage, not just to this region, but rather to globally. As Jaipur famously known as pink city, it possesses all of the above qualities, but it might also provide more. It seems to be the home of centuries of artists and manufacturers for whom the fine craftsmanship and others have created a wide range of items on the global arena. Exports are important in the emergence of globalization since it affects the monetary recovery of any country by providing a stable position in the global market. With several options available, the sector, particularly the Industrial sector, plays a vital role in bringing foreign income into the nation. The region OF Rajasthan already has a lot of possibilities for earning foreign currency by selling its goods. The major benefit is the folk’s calm societal atmosphere and corporate structure, and also adequate roadway and train (metro train and airline) linkages to certain other provinces of the country. Further, strategic area, throughout part to whoever is the administrative headquarters, is a significant component of the town’s economic progress. This area boasts a healthy cow population and therefore a range of mineral wealth that can also be utilized for industrial development. Startup at Rajasthan have a favorable growth. Steps to start a business Step 1: Conduct market research Step 2: Moreover, Write your business idea Step 3: Further, fund your business Step 4: Meanwhile, pick a strategic locus for your business Step 5: Choose a legal structure for your business Step 6: Choose a brand name for your business and Register your business from your brand name Step 7: Moreover, Get your business tax Id and employer identification number. Step 8: Furthermore, apply for license and legal permit of business Step 9: Open a business bank account FAQs What are the benefits of setting up a business in Rajasthan? Ease of Doing Business: Rajasthan has made significant improvements in ease of doing business with streamlined processes and single-window clearances. Government Incentives: Various incentives and subsidies are available under state policies like the Rajasthan Investment Promotion Scheme (RIPS) to encourage investment in the state. Strategic Location: Rajasthan’s proximity to Delhi-NCR and access to major transportation routes provide strategic advantages for businesses. Skilled Workforce: The state has a growing pool of skilled and semi-skilled labor. What are the different types of business structures available in Rajasthan? Sole Proprietorship: A business owned and managed by one person. Partnership: A business owned and managed by two or more individuals with shared profits and liabilities. Limited Liability Partnership (LLP): A partnership with limited liability for the partners, protecting their personal assets. Private Limited Company: A separate legal entity with limited liability for its shareholders. Public Limited Company: A company that can offer shares to the public and is listed on a stock exchange.

SWP stands for systematic withdrawal plan. Under SWP, if you invest lump sum in a mutual fund, you can set an amount you’ll withdraw regularly and the frequency at which you’ll withdraw. For example, let’s say you invested in HDFC Top 200 Fund an amount of ₹1 lakh for a year. Let’s assume that you decided to withdraw an amount of ₹10000 per month. So every month, your investment in the fund will reduce by ₹10000. The amount left every month after withdrawal will continue to remain invested. What is SWP? The Systematic Withdrawal Plan or SWP offers investors a regular income and returns money that is left in the scheme. You may withdraw a fixed or a variable amount on a pre-decided date every month, quarter, or year. You may customise cash flows to withdraw, either a fixed amount or the capital gains on the investment. For example, you have 8,000 units in a mutual fund scheme. You have specified a set of instructions to the mutual fund house where you seek to withdraw Rs 5,000 every month through the Systematic Withdrawal Plan. On January 01, 2020, the NAV of the scheme was Rs 10. You would get an equivalent number of mutual fund units = Rs 5,000/10 = 500 units. The mutual fund house would redeem 500 units and give you an amount of Rs 5,000. You still have 7,500 units left in the mutual fund scheme. Now on February 01, 2020, the NAV of the mutual fund scheme increased to Rs 15. The equivalent units of the mutual fund scheme are Rs 5,000/ Rs 15 = 333 units. The mutual fund house would redeem 333 units and give you Rs 5,000 for the month of February. You are left with 7500 units – 333 units or 7167 units. You may continue the calculations in a similar manner for the following months. What is the SWP Calculator? The SWP Calculator is a simulation that shows you the monthly withdrawals from your mutual fund investments. It shows the total value of the mutual fund investment after the withdrawal. You may be able to get a regular income in retirement through the systematic withdrawal plan. The SWP Calculator consists of a formula box, where you enter the total investment amount, withdrawal per month, the expected annual rate of return, and the tenure of the investment. The SWP Calculator shows you the future value of your mutual fund investments. Example of Systematic Withdrawal Plan As mentioned before, the SWP allows investors to generate both monthly revenue as well as an accumulated sum at the end of the maturity period. Refer to this investment and withdrawal schedule for an in-depth idea. Here, an individual has invested Rs. 50,000 for tenure of 1 year along with a systematic withdrawal of Rs. 1,000 per month. Interest rate stands at 10%. As such, total return of investments after the end of the tenor stands at Rs. 4,565. Month Balance at Begin Withdrawal Interest Earned 1 50,000 Rs. 1,000 Rs. 408 2 Rs. 49,408 Rs. 1,000 Rs. 403 3 Rs. 48,812 Rs. 1,000 Rs. 398 4 Rs. 48,210 Rs. 1,000 Rs. 393 5 Rs. 47,604 Rs. 1,000 Rs. 388 6 Rs. 46,992 Rs. 1,000 Rs. 383 7 Rs. 46,375 Rs. 1,000 Rs. 378 8 Rs. 45,753 Rs. 1,000 Rs. 373 9 Rs. 45,126 Rs. 1,000 Rs. 368 10 Rs. 44,494 Rs. 1,000 Rs. 362 11 Rs. 43,856 Rs. 1,000 Rs. 357 12 Rs. 43,214 Rs. 1,000 Rs. 352 FAQs When to use SWP? As per experts, SWP works best after retirement because an individual needs income Can individuals who are not retirees invest in an SWP? No, SWP investments are not limited only for retirees or senior citizens.

Form 16B basically is an indicator of the amount of money that has been deducted as property Tax Deducted at Source (TDS). The buyer, in this case, is required to basically minus the TDS on property at the time of the property sale. Form 16B which is a TDS certificate reflects the amount that has been deducted as TDS on property that has been deposited by the buyer with the Income Tax Department. Buyer is required to deduct TDS on property at the time of sale of the immovable property. The TDS is deducted at 1% from the amount that the buyer has to pay the seller. That amount is then to be deposited with the Income Tax Department. After the amount has been deposited with the Income Tax Department the buyer will have to issue Form 16B to the seller. This is a proof of the TDS being deducted on the property and that it is deposited with the government. Form 16 is TDS certificate for the TDS deducted from salary, Form 16A is TDS certificate for the TDS deducted from all other types of payments, Form 16B is TDS certificate for the TDS being deducted on the sale of property. Every person who has income chargeable to tax is required to file an income tax return to report their income and tax liabilities. However, income tax laws in India provide for the collection/deduction of tax at source (TDS/TCS). This, on the one hand, ensures, continuous revenue flow to Government and on the other hand, keeps a check on tax evasion. It is the responsibility of the payer to deduct tax (TDS/TCS) and pay it to the credit of Government. For such tax deduction, obtaining a Tax deduction Account Number (TAN) is mandatory. Deductor also has the responsibility of filing Tax deduction at source (TDS) return providing particulars of deductees, nature of the payment made, tax deducted, rate at which it is deducted etc for every quarter of a financial year. The TDS returns filed facilitate the income tax department give credit of TDS to the right deductees. Nature of Tax Deduction and Person Responsible to Deduct Tax here is a transfer (other than cases of compulsory acquisition) of immovable property Immovable property means land/building/part of building but excluding agricultural land* Buyer is responsible for paying consideration to resident seller in respect of such transfer Transfer is for a consideration of Rs 50 lakhs or more Buyer must deduct tax at the rate of 1% of consideration either at the time of credit or payment If seller does not provide for PAN, TDS at the rate of 20% as per Section 206AA Contents of Form 16B Deductors and Deductee name and address Deductors and Deductee PAN number Assessment year Payment acknowledgement number Amount paid/credited Verification Form 26QB and Form 16B Form 26QB is a return cum challan for payment of TDS to the Government which shall be furnished electronically for tax deducted under Section 194-IA.  Due date Form 26QB shall be furnished within 30 days from the end of the month in which deduction is made. For eg: if payment/credit is made on 16th April, Form 26QB shall be furnished by 30th May.  InstallmentsIn case of payment/credit in installments, as TDS is required for each installment, Form 26QB shall also be furnished for each such deduction.  Multiple parties to transactionForm 26QB shall be furnished for each buyer and seller combination.  Example 1: If there one buyer, B1 and 2 sellers, S1 and S2, Form 26QB shall be furnished separately for B1 and S1 combination and B1 and S2 combination, hence overall 2 26QB to be filed.  Due Date for Issuance of Form 16B Deductor shall issue Form 16B to the payee within 15 days from the due date for furnishing Form 26QB and Form 16B can be generated and downloaded from TRACES – TDS Reconciliation and Analysis and Correction Enabling System. For eg: Using the same example as above w.r.t due date for Form 26QB, Form 16B shall be issued on 14th June. Depositing TDS amount Once the challan is printed, the tax amount is deposited as a cheque or demand draft. When the taxpayer opts to pay at a bank, he/she will be redirected to the bank’s official payment page. Once the amount is paid, a challan counterfoil with CIN, payment details, bank’s name, etc. is displayed. This counterfoil acts as proof of payment. After this, taxpayers can proceed to the TRACES portal after 5 days and download Form 16B. Procedure to Generate and Download Form16B from TRACES Register as taxpayer on TRACES with details of PAN and either detail of tax deducted or details of challan or details of Form 26QB. Also, enter the verification code and click on ‘Proceed’. Activation link will be sent to email id through which account can be successfully created If already registered login to TRACES  with username as ‘PAN’ and password Under downloads tab Select ‘Form 16B (For Buyer)’ Furnish details such as assessment year, acknowledgment no. of the Form 26QB and PAN of the seller Form 16B will now be available on requested downloads section under Downloads category Form 16B can now be printed/saved Difference Between Form 16, Form 16A, and Form 16B Particulars  Form 16 Form 16A Form 16B  Who issues it? Issued by the employer Issued by financial institutions, tenants, etc. Issued by property buyers to sellers. Who is it directed at? Directed towards salaried employees.  Directed towards non-salaried employees. Directed towards property sellers.  Purpose  Form 16 is issued for TDS on salary. Form 16A is issued on income generated through non-salary sources such as securities, returns on investment, rent, or interest on FD.  Form 16B is issued for TDS on earnings generated through the sale of immovable property. Components  Proof of income Employer’s PAN and TAN Employee’s PAN Tax paid on behalf of employees  Payment acknowledgment number Surcharges and education cess Deductor’s PAN and TAN Deductee’s PAN Amount of Tax paid The receipt number of TDS paid   Deductor’s PAN and TAN Deductee’s PAN

Most private sector employees are entitled to receive post-retirement benefits if they function in the organised sector. Note that government employees are additionally eligible for pensions unlike their private sector counterparts. Employee Provident Fund was set up after the EPF Act was passed in the Parliament. Under the law, the Employees Provident Fund Organisation of India (or EFPO) controls the funds deposited by both the employee and employer in a permanent account, affixed by an UAN or Unique Account Number.  What is EPF? The Employee Provident Fund or the EPF is a retirement benefits scheme for salaried employees in the private sector. The Employees Provident Fund Organisation (EPFO) manages the EPF. Any organisation or firm with 20 or more employees gets covered under the EPFO. The Employees Provident Fund Organisation operates three schemes. The EPF Scheme 1952 The Pension Scheme 1995 The Insurance Scheme 1976. The employees who fall under the EPF scheme make a fixed contribution of 12% of the basic salary and the dearness allowance towards the scheme. The employer should also make an equal contribution to the EPF scheme. The EPFO Central Board of Trustees fixes the EPF interest rates every financial year after consulting the Ministry of Finance. The EPF Interest Rate for Financial Year 2023-24 is 8.25%. The employee would get a lump-sum amount at retirement, which includes the contributions of both the employee and the employer with the interest payments. However, 12% of the employer contribution does not go to the EPF account. Out of the 12% contribution, 8.33% goes towards the Employee Pension Scheme Account, and the remaining 3.67% goes to the employee EPF account. It is compulsory for all employees who draw a basic salary of less than Rs 15,000 per month to become members of the EPF. You cannot opt-out of the EPF scheme once you become a scheme member. An employee can make an enhanced contribution up to a maximum of 100% of the basic salary to the voluntary provident fund. The employer will not match the contribution. What is EPF Calculator? The EPF calculator is an online financial tool that calculates the total PF amount or maturity amount you will receive after retirement from your employment. This maturity amount will include both your and your employer’s contributions and the interest credited to your account. The data required to calculate your PF amount is as follows: PF contribution/ investment month every month, quarter, half-year or yearly PF interest rate Duration of contribution Frequency of EPF contribution Formula to Calculate EPF Amount To understand how to calculate EPF, let us have an example. Employee basic salary + dearness allowance = Rs 14,000 Employee contribution towards the EPF = 12% * 14,000 = Rs 1,680 Employer contribution towards the EPF = 3.67% * 14,000 = Rs 514 Employer contribution towards EPS = 8.33% * 14,000 = Rs 1,166. The total contribution by the employer and employee towards the EPF account of the employee = Rs 1,680 + Rs 514 = Rs 2,194. Now with the Applicable interest rate 8.25% p.a, the monthly earned interest will be; 8.25%/12 = 0.679% Assuming the employee joined the Firm XYZ in April 2019. The total EPF contribution for April will be Rs 2,194. The EPF scheme will not pay any interest for April. The total amount in EPF account May 2019 = Rs 4,388 (Rs 2,194+ Rs 2,194). He receives an interest of Rs 4,388 * 0.679% = Rs 29.79. The formula to determine EPF amount When you use Groww’s EPF calculator in India, you are assured of quality and reliability. This is the data you should keep in handy before you use the calculator. Your basic monthly salary including Dearness Allowance (DA) Your contribution to the EPF Your employer’s contribution Your retirement age (Including VRS, if you have such plans.)  Your current EPF balance Current EPF interest rate How can PF Calculator help you? Financial Planning Support: A PF calculator aids salaried individuals in planning their retirement by providing a clear view of their projected Provident Fund (PF) balance at retirement, helping them understand how much they need to save monthly to meet their financial goals. Effortless Tracking: It automates the calculation of total contributions and interest accrued over time, eliminating the hassle of manual calculations and ensuring accuracy in the tracking of their retirement savings. Immediate Updates: Salaried users receive immediate updates on any changes in PF policies, such as adjustments in interest rates or contribution ratios, enabling them to make informed decisions about their investments and savings strategy. FAQs What is a PF Calculator? A PF (Provident Fund) calculator is an online tool that helps employees estimate the amount of money they will accumulate in their Provident Fund over time. It considers contributions made by both the employee and the employer, the interest rate, and the duration of the contribution to calculate the total PF balance. When can I withdraw the money from my EPF account? You can only withdraw the money for personal purposes: After you have completed 7 years of service Only thrice during the EPF account’s duration.

The UIDAI (Unique Identification Authority of India) has launched a service of obtaining Duplicate Aadhar card Online. In case if your Aadhaar has been lost, misplaced or if they want a new copy, you can use this facility. This facilitates the residents of India to get their Aadhaar card duplicate by paying nominal charges. Residents who do not have registered mobile number can also apply for “Order Aadhaar Duplicate” using Non-Registered or Alternate Mobile Number.  If you have lost or misplaced your Aadhaar Card, the UIDAI has made it possible for all residents to acquire a duplicate card through a simple procedure. In case you do not know or are unsure of your Aadhaar number, or if you have lost or misplaced your acknowledgement slip, you will still be able to retrieve the Aadhaar card. Required Documents to Re-apply Proof of Identification:- An identity document includes Ration/PDS Photo Card, PAN Card, Passport, Driving license, etc. Proof of Address:- The address proof documents include Bank Account details/Passbook, Electricity bill, water bill, telephone bill, Property Tax receipt, Credit Card statement, etc. Proof of Date of Birth:- The documents accepted for the proof of date of birth includes Birth Certificate, Mark sheet issued by any Government Board or University, PAN card, etc. Turnaround Time The residents will be charged a nominal fee of Rs. 50 (inclusive of GST & speed post charges). The reprinted Aadhaar will be given to the post office through registered post for the delivery. The processing time for the delivery of the new reprinted Aadhaar is 5 working days. Aadhaar Letter will be delivered using speed post Service of Department of Post (DoP) in line with DoP delivery norms, and Delivery Status may be tracked using DoP Status Track Services. Conditions for Obtaining Duplicate Aadhaar Card You must know your Aadhaar Number or VID (Virtual Identification Number) for giving reprinting request. The mobile number must be registered with the Aadhaar Database for giving this request. You should be ready to pay fees of reprinting card. Online Procedure to Order Aadhaar Card Duplicate Step 1: Firstly, the applicants will have to visit the UIDAI’s website using this link. Step 2: Then click on the “Order Aadhaar Reprint (Pilot Basis)” option from the dropdown list under the Aadhaar services tab. Step 3: You will be re-directed to an Order Aadhaar Reprint page where you have to enter your 12 digits Aadhaar Number or Virtual ID and the security code. Step 4: You have click on the send OTP button if your mobile number is registered with the UIDAI portal. Step 5: Once you receive OTP, you have to enter it on the given tab Step 6: Then you have to select the check box agreeing to “Terms and Conditions”. After that click on the Submit button. Step 7: Once the correct OTP is entered, you will be able to verify your Aadhaar card details (Only if a mobile number is registered in the Aadhaar database). Note: If your mobile number or Aadhaar details are not matching or inaccurate, you need to visit Aadhaar Enrolment centre to get the details corrected. Step 8: If your information is correct, click on ‘Make Payment’ option. You will be redirected to the payment gateway. Step 9: You can use the following payment modes to make the payment for “Order Aadhaar Reprint.” Credit Card Debit Card Net Banking UPI Step 10: A fee for reprinting new Aadhaar is Rs. 50. Then you have to enter the payment details and click on the ‘Pay Now’ button. Step 11: Upon successful payment, you can receive an acknowledgement slip displayed on your screen. You can also print/ download the acknowledgement receipt. You will also receive service request number (SRN) on your registered mobile via SMS. How to Get a Duplicate Aadhaar Card Offline Through a Phone? Dial UIDAI’s toll-free numbers 1800-180-1947 or 1947 Choose the Interactive Voice Response (IVR) option to connect with an Aadhaar representative Clearly explain your need for a duplicate Aadhaar card to the representative during the call.  The representative will conduct identity verification by asking specific questions; and providing accurate responses.   Once verified, the representative will proceed to approve and initiate the issuance of your new Aadhaar card. Upon completing these steps, your duplicate Aadhaar card will be sent to your specified address via speed post. FAQs What happens if my Aadhar card is lost? Your Aadhaar card can be located if you’ve misplaced it or lost it through a number of UIDAI services. You can ask UIDAI to transmit your Aadhaar enrollment ID (EID) details to the registered cellphone number if you can’t recall it. Through the UIDAI portal, you can also reapply for the Aadhaar card. What distinguishes an authentic Aadhar card from a duplicate one? An actual, genuine copy of a unique identifying document is an Aadhaar card. The e-Aadhaar card, on the other hand, is a duplicate or printed copy of the Aadhaar card that is downloaded from the UIDAI website. 2. The e-Aadhaar card is only available in digital form; the Aadhaar card is only available in hard copy.

Branding is an important part of building a successful business. It helps businesses differentiate themselves from competitors and establish an identity that connects with their customers. To develop a brand identity for your business, it is important to know the different kinds of branding strategies. Your brand’s identity is the combination of many attributes – including logo, color scheme, voice and tone, and more. However, the name of your brand is the first and leading identifier What is a brand? A brand is the characteristics that distinguish a business, organization, product or service from other sellers. Often, businesses identify their brand using unique symbols, terms, names, designs or other features that represent their organization and its values. Businesses use their brand in their marketing strategies to gain recognition from their customers and differentiate themselves from competitors. A brand accumulates value when customers associate individual businesses with the quality of their products and services. Why are brands important? Brands are important for making businesses recognizable to their current and potential customers. They are also used to communicate with customers by promoting what the business specializes in and how they compare to their competitors. It is important for business owners to develop a brand for their business to help market their products, services and ideals to their target customers. What are the types of brand names? Descriptive names: These types of names describe what the business does and are often used by companies in industries such as food, travel, and retail. While effective in communicating the company’s offerings and benefits, they can also be limiting in terms of brand differentiation. Examples of descriptive names include General Electric and Burger King. Suggestive names: Suggestive names hint at the benefits or qualities of the product or service. They can be more creative and memorable than descriptive names while still conveying a message to customers. Examples of suggestive names include Spotify (benefit: spotting new music) and FitBit (result: getting fit). Regional names: These names declare where the product or services are used and can be as specific as a hometown location. Regional names can be effective in building a strong community, yet they can be limiting for companies that want to expand beyond their local area. Though Southwest Airlines (founded in Texas) and Boston Market had minimal problems. Abstract names: Comprised of words or phrases that have no direct relation to the business or its offerings, abstract names can be memorable and allow for more creative branding. On the flip side, they may not immediately communicate what the business does, leading to a disconnect. The technology industry loves abstract names (think: Asana and Soona.) Acronyms:We all know what an acronym is. They can be memorable and allow for a short, simple brand name. However, acronyms can be confusing for customers who are not familiar with the company or product. Acronyms are extensive in the business world and include IBM, BMW, BASF, etc., etc. Associative names:Associative names create a mental image or association with the product or service (think: Red Bull and Dove). They can be very effective in creating a memorable brand identity and communicating the company’s unique value proposition. Evocative names: These names prompt a feeling or emotion through the use of literary or cultural references. While they can be memorable, creating strong emotional connections with customers, they may not immediately communicate what the business does. Nike is an excellent example of an evocative name: rooted in Greek mythology but truly evocative of power, strength, and endurance, thanks to killer campaigns and endorsements. Hybrid names: These types of names combine two or more words to create a unique and memorable brand name. They can be effective in creating a strong, distinct brand identity and communicating the company’s unique value proposition. A few examples: Microsoft and Verizon (a combo of veritas and horizon). Compound words: Combining words to craft a brand name can be effective in creating a unique and memorable brand name, as well as communicating a specific message or value proposition. For example, Facebook, YouTube, & Mastercard. The use of compound words can be a powerful branding tool when done well, as it can convey a message or concept that is both clear and memorable to consumers. Simple names:There is a new trend in the naming of companies and products that emphasizes simplicity and clarity. Some businesses are moving away from overly intricate or abstract names and leaning into simple statements. This trend is exemplified by companies like The Shirt Company and Sock Club. How to Choose an Effective Brand Name By understanding the different types of brand names, their pros and cons, and what’s most effective for your audience, you can select the right type of name that fits your business and helps you stand out from the competition. Remember, a strong brand name is just one piece of the puzzle in building a successful brand, but it’s an important one that can make a big difference in the long run. FAQs What are brand names? Brand names are unique names or terms used to identify a product, service, or company. They help differentiate one brand from another and create a specific image or identity in the minds of consumers. What are descriptive brand names, and can you give some examples? Descriptive brand names clearly describe what a product or service does or what it is. Examples include “American Airlines,” which describes an airline company based in America, and “Whole Foods,” which suggests the sale of natural, whole food products.

One Person Company registration in India is a concept introduced under the Companies Act 2013. It allows a single individual to incorporate a company and enjoy the benefits of both a sole proprietorship and a company. This concept was available after the enforcement of the Companies Act 2013.The Companies Act, 2013 introduced the new concept of One Person Company (OPC). As the name suggests, an OPC is a company established by a single person. A single individual establishes and manages the company. An OPC has all the features of a company, such as perpetual succession, limited liability and a separate legal entity.  Before the enforcement of the Companies Act, 2013, a single person could not establish a company. If an individual wanted to establish his business, he/she could opt only for a sole proprietorship as there had to be a minimum of two directors and two members to establish a company. In a Private Company, a minimum of 2 Directors and 2 Members are required whereas in a Public Company, a minimum of 3 Directors and a minimum of 7 Members. A single person could not incorporate a Company previously. As per Section 2(62) of the Company’s Act 2013, a company can be formed with just 1 Director and 1 member. The director and member can be the same person. It is a form of a company where the compliance requirements are lesser than that of a private company. Thus, one person company means one individual who may be a resident or NRI can incorporate his/her business that has the features of a company and the benefits of a sole proprietorship. Advantages of One Person Company (OPC) OPC is not required to hold Annual General Meeting Individual flexibility that permits the Professional, owner to adopt the kind of business he wants to launch. The craving of the innovative individual to face an additional challenge and ability to assume extra liability. OPC has various industry specific advantages like that of a Private Limited Company It is controlled by people yet OPCs are a different legitimate business like that of any normal corporate business different from its members. A One Person Company is incorporated as a private limited company. In contrast to a private or public limited company, OPCs are not burdened with a lot of compliances Characteristics of OPC Only a natural person who is an Indian citizen and a resident of India is qualified to incorporate a one-person business and to be nominated as the business’s sole member. OPCs are distinct from other business entities in that the sole member of the firm must designate a nominee when the entity is registered. No one is allowed to incorporate more than one One Person Company or join more than one of these companies as a candidate. No minor may possess shares with beneficial interests or become a member or nominee of the company. The company cannot be incorporated or changed into a company per Section 8 of the Act. The company is prohibited from engaging in non-banking financial investment operations, such as purchasing corporate securities. The company is prohibited from unilaterally altering its corporate structure till two years have passed since incorporation. Except when the company’s paid-up capital increases by more than 50 lakh rupees or its average annual turnover over the relevant period surpasses two crore rupees. When a natural person who is already a member of one OPC joins another by virtue of being a nominee in the said company within one hundred and eighty days, he is required to resign from either of the OPCs. Anywhere a firm’s name is printed, attached, or engraved, the words “One Person Company” must be placed in brackets beneath the company name. Documents Required for One Person Company Registration Identity and Address Proof of Director and Nominee Scanned copy of PAN Card (Passport in case of Foreign Nationals & NRIs) Scanned copy of Voter’s ID/Passport/Driver’s License (Any one) A Scanned copy of the latest bank statement/telephone or mobile bill/electricity or gas bill of the individual (Any one, not older than two months) Form INC-3 duly filled and signed by the Nominee (Format is available on MCA website) Registered Office ProofFor online company registration in India, the company must have a registered office in India. Following documents needs to be mandatorily provided while giving Registered Office details: Scanned copy of the latest bank statement/telephone or mobile bill/electricity or gas bill in case you own property Scanned copy of Notarized rental agreement A Scanned copy of No-objection certificate from the property owner Registration Process of One Person Company Registration Step 1: Apply for Digital Signature Certificate (DSC)Since the process is completely online, hence the sole director or authorized signatory who needs to sign the online incorporation documents must apply for Digital Signature Certificate. Step 2: Apply for Director Identification Number (DIN)DIN can be applied along with the company registration application form i.e. SPICe+.In case the subscriber is already holding a valid active DIN, the proof of identity and residence need not be attached. Step 3: Apply for Name Approval through SPICe Plus Form – Part AFor the name approval step, now you need to apply it through SPICe Plus form only with the Ministry of Corporate Affairs. Please note that a minimum of 2 names at the time of incorporation are proposed. Note: As regards the name of a One Person Company, Companies Act, 2013 provides that the words “One Person Company” or “OPC” shall be mentioned in brackets below the name of such company. Step 4: Submitting Final Incorporation DocumentsThe Part B of SPICe Plus needs to be filled up and all the required information has to be given. Apart from that Memorandum of Association (MOA) and Articles of association (AOA) of the Company in prescribed format needs to be submitted. Moreover, declaration of all the subscribers and first directors in Form INC-9 needs to be provided. In addition to the SPICe+ form, a person can now also apply for GSTIN, EPFO, ESIC, Professional Tax etc. through a web form called AGILE-PRO (INC-35) Once

Property mutation refers to the process of transferring the ownership of property title from one individual to another. As a part of this procedure, the property owner’s name is also registered in the Record of Rights (RoR) of the State. All in all, think of it as the State’s legal seal on the ownership of property that saves you from future complications and disputes.  Gujarat land mutation refers to the registration of the name of the property owner in the Record of Right (7/12 or 8A), i.e. the process of transferring the title ownership of property or land from one person to another. The Bombay Land Revenue Code, 1879 governs the process of land mutation in Gujarat. Land mutation is a vital process in all legal transactions involving a property. Through mutating a land in Gujarat, the owner will acquire the rights of the land, and the property details will be revised in the revenue record (7/12 and 8A) as well as in the Gujarat mutation register.  In this article, we will look at Gujarat land mutation in detail. Bombay Land Revenue Code, 1879 Bombay Land Revenue Code, 1879 moderate the process of Gujarat land mutation. When a change of ownership or transaction takes place, the Khatedar files a request for initiating the mandatory process known as mutation for effecting necessary changes in the revenue records. The mutation process involves obtaining a consensus from all concerned parties of the transaction and inviting objections from those interested. Once all the objections are cleared, mutation orders are passed effecting the change of ownership and new records of rights issued to new owner. Types of property mutation process in Gujarat Type of property mutation in Gujarat Sale Vasiya Gift Vechani Inheritance Land allotment Co-partner admission of right Hakk Kami Admission of tenant Ganot Mukti Admission of Boja Boja Mukti Giro dakhal Giro Mukti Identification of fragment Tukdaa Kami Non-agriculture Sharat Badli (Tenure) Survey Sudhar Jodan Ekatrikaran Land acquisition Orders Notification under Section 4 Identified under LA Section 6 KJP Survey Adal Badal Kabjedar Namfe Sagir Pukht Hyati Ma Hakk Dakhal Hyati Ma Vechani Land Khalsa Lease Patto Bija Hakk dakhal Bija Hakk Kami Importance of Gujarat Land Mutation Gujarat land mutation is one of the vital processes in all legal transactions involving a land. As examined above, by mutating a property the new owner gets the revenue records on his name. Once the property is mutated, mutation details will be revised in the mutation register further to Gujarat revenue records (7/12 & 8A) maintained by the State Government. Mutation document or report will be issued to the applicant. Gujarat land mutation report is one of the important documents to fix the property tax payment liabilities Mutation document/ report is an essential proof for ownership of a particular land or property For selling a property, the landowner should have to furnish mutation document/report to the buyer for verification Person Responsible for Reporting Mutation Any person acquiring property by purchase, succession, inheritance, partition, exchange, survivorship, and gift have to report his acquisition of such right to the prescribed authority within the prescribed time from the date of such acquisition. Documents required for property mutation process in Gujarat Major documents required for different mutation types in Gujarat Mutation Type Document Gift Certified copy of Registered document   Proof of being Khatedar (for agricultural land) Hayati ma Hak Dakhal (Right entry during life) Certificate of Bojha Mukti (If applicable) Varsai Original Copy of Death Certificate   Computerised 7/12 and 8A Vechan / Survey Adal Badal Registered Copy of the Sale deed   Proof that buyer is a Khaddar (for buying agricultural land)   If sale by affidavit Certificate of Bojha Mukti   If land sale of minor certificate from certifying authority   Computerised copy of 7/12 and 8A. Co-partner Entry Registered Document to enter co-partner   Person entering as co-partner to produce proof of being a Khatedar Will Certified copy of Will   In case of agricultural land, proof from person of being Khatedar benefiting from the will   Copy of Probate if required Vechani (Distribution) Affidavit of all interested parties   Bojha Mukti certificate (If applicable)   Computerised copy of 7/12 and 8A Bojha / Giro Dakhal Copy of deed from bank and co-operative society Minor to Major Age proof (School leaving Certificate or birth certificate) Offline property mutation process in Gujarat Step 1: Visit the nearest Revenue Department office to obtain the application form and fill in the required details accurately. Step 2: Collect the necessary documents such as sale deed, identity proof, address proof, and property tax receipts. Make sure to have multiple copies of each document. Step 3: Submit the filled application form along with the supporting documents to the Revenue Department office. Pay the applicable fees as mentioned in the official guidelines. Step 4: After submitting the application, the Revenue Department will initiate the verification process. This may involve a physical inspection of the property and cross-checking the provided documents. Step 5: If the verification process is successful, the Revenue Department will approve the mutation of the land. The updated records will reflect the new owner’s name. Property mutation process in Gujarat through e-Dhara Centre Step 1: Downloading the mutation application form Visit the official website of the Revenue department of Gujarat and select the ‘Computerisation of land records and e-Dhara’ option from the dropdown list under ‘Programs and schemes.’ Click on ‘e-Dhara forms’ and download the application form. Step 2: Visit the e-Dhara centre After printing and filling out the application form in a prescribed form, submit it to the e-Dhara centre operator. Once the application and the supporting documents are submitted, the operator will scrutinise the details. Step 3: Generating the acknowledgement receipt After entering the application details in the computer, the operator generates two copies of the acknowledgment receipt and gives one of those to the applicant. Step 4: Verification and inspection Once the application is submitted, the e-Dhara deputy mamlatdar will verify the details provided. The Talati collects mutation files from the e-Dhara centre

A salary calculator is an easy-to-use tool that assists in calculating the take-home annual salary, take-home monthly salary, total annual deductions, total monthly deductions, etc., of an individual. An employee needs to fill in his CTC, bonus included in CTC, monthly professional tax, monthly employer PF, monthly employee PF, and any monthly additional deductions in the designated boxes to derive the net result. The salary calculator or in hand salary calculator is a simulation that calculates your take-home salary. It is the total salary an employee gets after all the necessary deductions. The salary calculator consists of a formula box, where you enter the Cost To Company (CTC) and the bonus included in the CTC. The salary calculator will show you the Monthly and annually deductions & Monthly and Annually Net Take home salary. Deductions could be the employer and employee provident fund, professional tax, employee insurance, and the take-home salary. What are the Components of the Salary Structure? Basic Salary: Basic salary is roughly 40% to 50% of the total salary which an employee earns on the basis of experience, knowledge, skills, qualifications, etc. It is a fixed component of the ‘Cost To Company’ package. House Rent Allowance (HRA): It is a component of the salary offered by the employer to the employees who live in rented housing. HRA is partially/fully exempt from taxes under Section 10(13A) of the IT Act 1961. Note that HRA is fully taxable if the employee does not live in a rented house. Leave Travel Allowance (LTA): An employee can also receive LTA that an employer gives as an allowance to the employee for travel costs and expenses. Employees are required to submit proof of travel in order to claim LTA. Professional Tax: It is the tax on employment which is levied by the State. Note that, in a financial year, the State can charge a maximum of Rs 2,500 as a professional tax. Special Allowance: An employee may receive a special allowance component in the salary structure, which is fully taxable. Bonus: An employee may earn a performance incentive from his employer, which is termed as a bonus. Employee Contribution to the Provident Fund: Under the Employee Provident Fund (EPF), the employer and the employee contribute 12% of the employee’s basic salary each month. Such contribution made by the employee stands for a deduction under Section 80C. How Do Salary Calculator Work? To calculate the take-home salary, you must enter the Cost To Company (CTC) and the bonus, if any, as a fixed amount or a percentage of the CTC. For example, your Cost To Company (CTC) is Rs 8 lakh. The employer gives you a bonus of Rs 50,000 for the financial year. Then your total gross salary is Rs 8,00,000 – Rs 50,000 = Rs 7,50,000 (the bonus is deducted from the Cost to Company). Gross Salary = Rs 8,00,000 – Rs 50,000 = Rs 7,50,000. The gross salary deducts the professional tax of Rs 2,400 a year (this is the professional tax in Karnataka). It then deducts the contributions of both the employer and you (employee) towards the Employee Provident Fund (EPF). EPF contribution is computed on a maximum salary limit of Rs 15,000 per month. It translates to 12% of Rs 15,000 = Rs 1,800 a month or Rs 21,600 per year. So, you have Rs 21,600 as a yearly contribution made by the employee towards the EPF and a similar contribution of Rs 21,600 by the employer towards the EPF (8.33% of the employer’s contribution gets diverted to the employee pension scheme). In addition, you also have a yearly deduction of Rs 3,000 towards employee insurance. Total Deductions = Professional tax + EPF (Employee Contribution) + EPF (Employer Contribution) + Employee Insurance. Total Deductions = Rs 2,400 + Rs 21,600 + Rs 21,600 + Rs 3,000 = Rs 48,600. Take Home Salary = Gross Pay – Total Deductions Take Home Salary = Rs 7,50,000 – Rs 48,600 = Rs 7,01,400. FAQs What do I need to know and have, in order to use the take home salary calculator in India? For using the salary calculator, you should know details about various components like your annual gross salary, bonus, HRA, professional tax, contribution to PF, etc. What is the basic salary formula? Basic Salary = Gross Pay – Total Allowances (HRA, LTA, medical insurance, dearness allowance, etc.)

Indian Overseas Bank (IOB) was one of the many banks that was established prior to the country’s independence. The goal of forming the bank was to create a specialisation in business related to foreign exchange in the banking industry on a global level. At present, the bank has a number of branches within the country and branches in 5 other Asian countries. A current account is a transactional bank account that is tailor-made for entrepreneurs, professionals, and firms to help them conduct a high number of regular monetary transactions. This type of account can be opened and operated by individuals, a collaboration of multiple individuals or under the name of a business. A current account has no interest rates levied on them due to the higher rate of transactions and the higher minimum account balance requirement. These accounts are designed to offer extensive transactional facilities for the ease of running a business. Since its establishment, IOB has grown at an accelerated pace. It has expanded the scope of the products that it offers its customers. These products range from savings accounts to retail loans and insurance policies. One of the many products that the bank offers its customers is the current account. A current account is a type of bank account that is most often used by individuals who run businesses. The account’s features provide account holders with high liquidity, which is a requirement for them to run their operations. IOB offers its customers 3 variants of the current account. Indian Overseas Bank Indian Overseas Bank (IOB) was first started in 1937 in Chennai and expanded to other parts of India establishing itself as a significant public sector bank with about 1150 branches in Tamil Nadu alone. Including the branches in its home state, IOB has over 3400 branches all over the country along with eight subsidiaries and offices situated overseas as of October 2017. The bank has achieved a complete networking status and has an ISO certified in-house IT Department that has developed its software to provide online banking services for its customers. Indian Overseas Bank has branches in countries such as Colombo, Singapore, Seoul and Bangkok, and representative offices in Vietnam, Guangzhou, and Dubai. It is the banking system that put the country’s name on the map of the banking sector in the Far East, lending assistance and prestige to the numerous Indians abroad. Types of Current Accounts The following are the types of current account offered by Indian Overseas Bank: IOB-CD Classic IOB-CD Super IOB CD- Supreme IOB-CD Classic Current Account IOB-CD Classic Current Account is a special status account provided by Indian Overseas Bank for medium-sized companies and proprietary/ partnership firms, clubs, societies and so on. This account is specially designed for entrepreneurs, professionals, and firms and offers various concessions. Eligibility Partnership Firms Proprietaries Hindu Undivided Families Limited Companies, Corporations, SME’s Trusts, Societies, Clubs, Associations Local Bodies, Government Departments subject to RBI directives. Minimum Balance Requirement An average quarterly balance of at least Rs. 1,00,000 must be maintained for this account. Special Features and Discounts Internet Banking Mobile Banking Transfer of funds through NEFT are free. Personal Accident insurance cover of INR 1 Lakh is free of cost. Waiver of Demat account opening charges. Named printed chequebooks free of cost up to 100 leaves. Folio Charges at 50% concession. International Debit Card without charges to all employees and owners. Online Tax payment facility. Customized Multi-city cheques issued at MICR centers at 50% concession. The issue of Demand drafts at 50% concession. Outstation cheque collection charges at 25% concession. Transfer of funds through RTGS at 25% concession. Utility Bills payment facility. 2. IOB-CD Super IOB-CD Super is a current account with a surplus of benefits. By maintaining an average minimum balance of INR 5 Lakhs over three months, account holders can access a variety of advantages and avail necessary concessions. The following are the details associated with an IOB-CD Super current account. Eligibility The following kinds of entities can start an start an account under this bank: Partnership Firms Proprietaries Hindu Undivided Families Limited Companies, Corporations, SME’s Trusts, Societies, Clubs, Associations Local Bodies, Government Departments subject to RBI directives. Minimum Balance Requirement The average daily balance to be maintained in this current account over a period of three months should not be less than INR 5 Lakh. Special Features and Discounts Internet banking Mobile Banking Transfer of funds through NEFT are free.  Personal Accident insurance covers of INR 5 Lakhs are free of cost. Waiver of Demat account opening charges.  International Debit Card without charges to all employees and owners.  Online Tax payment Customized Multi-city cheques issued at MICR centres free. Name printed chequebooks free of cost. The issue of Demand drafts at 50% concession. Folio charges free. Outstation cheque collection charges at a 50% concession. Transfer of funds through RTGS at a 50% concession. Utility Bills payment facility.  3.IOB CD- Supreme Indian Overseas Bank has held its place in the banking industry by providing efficient consumer and commercial banking services over the decades. As a part of the bank’s prestigious Platinum Jubilee Year, IOB continues to provide efficient banking solutions with new special schemes such as the IOB CD-Supreme among others. This account is a current deposit account with a low minimum balance requirement and offers an array of benefits to the account holder. The following are the details pertaining to a Supreme current account. Eligibility The following categories of entities may start an account with this bank: Partnership Firms Proprietaries Trusts, Societies, Clubs, Associations Minimum Balance Requirement The minimum balance required in this specific current account is merely INR 7500. Special Features and Discounts Internet Banking Facility Free cheque boom of 75 leaves Free International VISA Debit Card for employees/ owners. Account statement by email Transfer of funds through RTGS/ NEFT (75 percent concession on charges) Online Tax Payment/ Utility bill payment facility. Cash withdrawal up to INR 50,000 under CBS transactions from any branch. ASBA facility available Gold coin concession of INR 7.50 per gram on a purchase of minimum