#Company Registration ii India

[legalpillers24]

Setting-up Business: Legal Things to Consider Before Starting a Business in India

It is both exciting & difficult to start the journey of entrepreneurship in India but it is also very crucial to navigate the legal complexities effectively. Here we will discuss about the essential legal considerations that every aspiring business owners must remember while starting a business in India.

Legal Things to Consider Before Starting a Business in India

Selecting the Right Business Structure: As each business structure comes with its own set of legal implications regarding liability, taxation, and compliance, so you must determine the most suitable business structure among sole proprietorship, partnership, LLP, private limited company, or public limited company for your venture as per your business goals.

Registering Your Business: You should register your business with the appropriate authorities as per the relevant laws and regulations of specific business structure. It is important to establish legitimacy and ensuring compliance.

Understanding Taxation: You must have the knowledge about various taxes applicable to your business, including GST, income tax, and others. It will be better for you to seek tax professional guidance to navigate the aspect of taxes effectively.

Protecting Intellectual Property: It would be best to protect your intellectual property via trademarks, copyrights, or patents. As your ideas and innovations are valuable assets so it will secure your creations from unauthorized use and establishes your brand identity in the market.

Obtaining Licenses and Permits: It is mandatory to obtain the necessary licenses and permits, whether it's industry-specific permits or general business licenses, as per your business operations to stay compliant with regulations.

Data Protection and Privacy Compliance: In today's digital stage, the most important thing is to protect customer's data. You must have to stick to data protection and privacy laws to secure the sensitive information of clients and maintain customer trust.

Important Laws to Follow Up in Company Registration in India

The Industrial Disputes Act, 1947

The Trade Unit Act, 1926

Building and Other Constructions Workers’ (Regulation of Employment and Conditions of Service) Act, 1996

The Industrial Employment (Standing Orders) Act, 1946

The Inter-State Migrant Workmen (Regulation of Employment and Conditions of Service) Act, 1979

The Payment of Gratuity Act, 1972

The Contract Labour (Regulation and Abolition) Act, 1970

The Employees’ Provident Funds and Miscellaneous Provisions Act, 1952

The Employees’ State Insurance Act, 1948.

Conclusion

You can lay a solid foundation for your business venture and navigate the complexities of entrepreneurship confidently by addressing the above mentioned legal considerations accurately. It would be best to seek the professional legal advice to get the invaluable support personalized as per your specific needs & circumstances.

[finanvosolution]

NEXSIMP LLP

Registration: Registered with the Registrar of Companies (ROC) in Mumbai. LLPIN: ACJ-4333 Partners: AJITESH SHRIKANT MISHRA DEEPIKA ABHISHEK MISHRA ABHISHEK SHRIKANT MISHRA Address: Florea C 701, Palava Phase Ii, Sector-4, Khoni, Thane, Kalyan, Maharashtra, India, 421204.

[udyam09]

How to Apply for Udyam Registration Online in India?

Udyam Registration is a government initiative aimed at simplifying the process of registering Micro, Small, and Medium Enterprises (MSMEs) in India. Launched on July 1, 2020, this online registration system has replaced the earlier Udyog Aadhaar Memorandum (UAM) process. The goal of Udyam Registration is to make it easier for businesses to formalize, access benefits, and grow their operations.

If you are an entrepreneur looking to register your MSME under Udyam, this step-by-step guide will walk you through the online application process.

What Is Udyam Registration?

Udyam Registration is an online process for MSMEs to get officially recognized by the Government of India. The registration system is designed to be paperless and fully online, requiring no physical documentation or fees. By registering, businesses gain access to various government schemes, subsidies, and incentives, along with simplified processes for loans, taxation, and regulatory filings.

Eligibility for Udyam Registration

The eligibility for Udyam registration is based on the classification of businesses into Micro, Small, and Medium Enterprises, as defined by the Ministry of MSME:

Micro Enterprises: Investment up to ₹1 crore and turnover up to ₹5 crore.

Small Enterprises: Investment up to ₹10 crore and turnover up to ₹50 crore.

Medium Enterprises: Investment up to ₹50 crore and turnover up to ₹250 crore.

Both new and existing businesses are eligible to apply for Udyam Registration. However, businesses already registered under Udyog Aadhaar must re-register under Udyam.

Documents Required for Udyam Registration

Udyam Registration is a paperless process, and the business owner does not need to upload any documents. However, the following information is required:

Aadhaar Card: The Aadhaar number of the business owner or the authorized signatory is mandatory.

PAN Card: A PAN (Permanent Account Number) card is required for all businesses.

GSTIN (optional): Although having a GST number is not mandatory for micro-enterprises, it is recommended for those liable to pay GST.

Business Details: Basic details of the enterprise such as the name, type of organization, and address.

It’s important to note that there are no registration fees for applying for Udyam.

Step-by-Step Guide to Apply for Udyam Registration Online

Here is a step-by-step process for applying for Udyam Registration through the official portal:

1. Visit the Udyam Registration Portal

Go to the official Udyam Registration portal: https://registrationmsme.com/ .

2. Click on ‘For New Entrepreneurs’

If you are a first-time applicant, click on the option for "For New Entrepreneurs who are not Registered yet as MSME or those with EM-II."

If you are already registered under Udyog Aadhaar, there is a separate option for migrating to Udyam.

3. Enter Aadhaar Number

Enter the Aadhaar number of the business owner (for proprietorships) or the authorized signatory (for partnership, company, or LLP).

After entering the Aadhaar number, you will be asked to verify your identity through an OTP sent to your registered mobile number.

4. Fill in Business Information

After Aadhaar verification, you will be prompted to enter essential business details, such as:

The name of your business or organization.

The type of enterprise (proprietorship, partnership, LLP, company, etc.).

PAN and GSTIN (if applicable).

The date of commencement of the business.

The number of employees.

5. Enter Investment and Turnover Details

Provide the investment amount made in plant and machinery or equipment.

Mention the annual turnover of your business.

The classification of your business as Micro, Small, or Medium will be automatically determined based on this data.

6. Self-Declaration

Confirm the accuracy of the information provided through a self-declaration. The Udyam Registration process does not require uploading supporting documents, but the details must be accurate for future verification.

7. Submit the Application

Once all the details are filled in, click on the "Submit" button. The system will generate an OTP, which will be sent to your registered mobile number or email for verification.

8. Receive Udyam Registration Certificate

After successfully submitting the form, you will receive a unique Udyam Registration Number (URN).

Your Udyam Registration Certificate will be issued online, and it can be downloaded directly from the portal. The certificate will contain a QR code that allows anyone to verify the authenticity of the registration.

Benefits of Udyam Registration

By completing the Udyam Registration process, businesses can unlock several benefits, including:

Access to Government Schemes: MSMEs can apply for subsidies, credit-linked capital subsidies, and government procurement schemes.

Ease of Obtaining Loans: Udyam-registered businesses can easily access collateral-free loans under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).

Priority in Government Tenders: Registered MSMEs receive preferences in government procurement and tenders.

Protection Against Delayed Payments: MSMEs are legally protected under the MSMED Act for any delayed payments from buyers.

Tax Benefits: MSMEs are eligible for various tax rebates and exemptions.

Conclusion

Udyam Registration is a simple, hassle-free, and paperless process that provides vital support to MSMEs in India. The process ensures formal recognition for businesses, enabling them to access a wide range of financial and operational benefits that can help them grow. With no fees involved and minimal documentation, applying for Udyam Registration online is an essential step for any MSME looking to thrive in India’s competitive marketplace.

[colinwilson11]

The Rise Of CGAS-STING Pathway Market Therapies Will Lead To A Revolution In Cancer Immunotherapy

The CGAS-STING pathway market will grow at the highest pace owing to increasing R&D and growing potential of nucleic-acid sensing pathway modulators in cancer immunotherapy. The innate immune system recognizes nucleic acid species unique to pathogens via cytosolic DNA sensors and mediates type I interferon (IFN) responses that are critical for anti-viral immunity. Of these sensors, the cGAS-STING pathway couples cytosolic DNA sensing to type I IFN induction and downstream transcriptional programs. Once activated, cGAS produces the second messenger cyclic GMP-AMP (cGAMP) which binds and activates stimulator of IFN genes (STING). This signals the activation of downstream IFN regulatory factor 3 (IRF3) and NF-κB, leading to production of type I IFNs and pro-inflammatory cytokines.

The CGAS STING Pathway Market is estimated to be valued at US$ 0.46 Bn in 2024 and is expected to exhibit a CAGR of 25.% over the forecast period 2024-2031.

Growing significance of immunotherapy in cancer treatment and the advantages of targeting the cGAS-STING pathway such as involvement in sensing tumor DNA in the cytoplasm and activation of potent antitumor immunity has augmented the demand of associated drugs and therapies. The success of immunotherapy approaches has led to substantial investment in nucleic acid-sensing pathway modulators by pharmaceutical companies.

Key Takeaways

Key players operating in the cGAS-STING pathway are IFM Therapeutics, Bristol-Myers Squibb, Novartis, AstraZeneca, Merck & Co. Companies are investing heavily in R&D to develop novel therapeutics targeting this pathway. For instance, IFM Therapeutics is developing first-in-class STING agonist focusing on liver and gastrointestinal cancers in phase I/II clinical trial.

The demand for cGAS-STING therapies is increasing rapidly mainly due to growing demand for innovative cancer immunotherapies. According to American Cancer Society, around 1.9 million new cancer cases are diagnosed in the US annually presenting massive market potential. Additionally, improving accessibility of immunotherapy in developing countries will further drive the demand.

Advancements in understanding molecular mechanisms of cGAS-STING pathway activation and development of novel agonist and modulators have expanded therapeutic applications. Ongoing research for developing vaccines and combination therapies with checkpoint inhibitors holds promise to revolutionize cancer treatment through innate immunity activation.

Market Trends

Combination therapies research: There is growing focus on exploring synergies of cGAS-STING agonists with other immunotherapies like checkpoint inhibitors. Ongoing clinical trials evaluating combinations are demonstrating encouraging response rates.

Personalized medicine approach: Efforts are being made to develop biomarkers to predict response and identify patients likely to benefit from cGAS-STING therapies. This personalized approach can improve clinical outcomes.

Geographical expansion: Major players are expanding manufacturing and clinical trials to countries like China and India having huge patient pools. This will boost accessibility and commercialization prospects.

Market Opportunities

First STING agonist approval: IFM Therapeutics' lead molecule will be the first STING agonist examined in registrational trials paving way for first approval in 2026-27.

 Increased adoptability: As clinical evidence demonstrating benefits of cGAS-STING modulation emerges, adoption rate in treatment guidelines and clinical practice is expected to surge exponentially.

New therapeutic areas: Preliminary evidence shows cGAS-STING pathway also plays a role in autoimmune diseases providing scope for therapies in indications beyond oncology.

Impact Of COVID-19 On CGAS STING Pathway Market Growth

The COVID-19 pandemic has profoundly impacted the CGAS STING Pathway Market. During the initial outbreak in early 2020, the market recorded a decline as research activities slowed down and clinical trials faced interruptions due to lockdowns and social distancing norms. However, with shifting focus on immune therapies for tackling novel coronavirus infections, the interest in CGAS STING pathway modulators witnessed rapid growth. Many companies expedited their programs related to IFN activation via cGAS-STING pathway to develop host-directed antiviral therapies against SARS-CoV-2. The pandemic highlighted the need for developing strategies to strengthen innate immune responses via cGAS-STING pathway modulation. While clinical studies faced delays in 2020, collaborations between industry and research institutes intensified to advance immunotherapies targeting this pathway. Moving forward, the high growth projected for this market is expected to accelerate further on the back of strong ongoing research to evaluate potential of cGAS-STING pathway modulators as adjuvant or monotherapy for COVID-19.

Regional Concentration Of CGAS STING Pathway Market

North America currently dominates the CGAS STING Pathway Market and holds over 40% of the global market share in terms of value. This is due to high immunotherapies R&D spending and strong presence of key market players in the US. Moreover, the region is an early adopter of novel immune mechanisms and immune-oncology approaches. Within North America, the United States represents the most lucrative market owing to significant research funding and growing clinical adoption of STING agonists. On the other hand, Asia Pacific region is projected to witness the fastest growth during the forecast period with a CAGR of over 30%. This impressive growth can be attributed to rising healthcare expenditure, expanding clinical research infrastructure and growing focus of global pharma companies on emerging Asian markets. China and India are expected to spearhead the growth of CGAS STING Pathway Market in Asia Pacific region.

Europe currently represents the second largest regional market for CGAS STING pathway modulators globally. Availability of latest healthcare technologies, sophisticated research infrastructure and presence of major industry players have aided the growth of CGAS STING Pathway Market in Europe. Within the region, Germany, United Kingdom and France together hold around half of the total European market in terms of value. However, Eastern Europe is estimated to depict the fastest gains owing to increasing government spending to strengthen native research capabilities. Moreover, growing collaborations between European and US pharmaceutical firms will further stimulate market growth during the forecast period.

Get more insights on this topic:  https://www.trendingwebwire.com/cgas-sting-pathway-market-is-estimated-to-witness-high-growth-owing-to-advancements-in-precision-cancer-immunotherapies/

Author Bio

Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups. (LinkedIn: https://www.linkedin.com/in/vaagisha-singh-8080b91)

What Are The Key Data Covered In This CGAS STING Pathway Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the CGAS STING Pathway Market's growth between 2024 and 2031.

:- Accurate calculation of the size of the CGAS STING Pathway Market and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- CGAS STING Pathway Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market's competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of CGAS STING Pathway Market vendors

FAQ’s

Q.1 What are the main factors influencing the CGAS STING Pathway Market?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top CGAS STING Pathway Market companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the CGAS STING Pathway Market’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?

*Note: 1. Source: Coherent Market Insights, Public sources, Desk research 2. We have leveraged AI tools to mine information and compile it

[rpacpc]

How Identity Verification Vendors in India are Revolutionizing Security

Security has become a major concern for businesses and individuals in today’s rapidly evolving digital landscape. With online connectivity, remote work and the rise of digital identities, the need for robust identity systems has never been greater, identity verification vendors in india are undergoing a transformation takes the lead, offering innovative solutions that not only enhance security but also streamline processes across sectors. In this article, we explore how these vendors are revolutionizing security in India, the key technologies they are using, and their impact on their businesses and customers.

Growing need for identity in India

With India’s highly diverse population, it presents unique challenges and opportunities when it comes to identity verification. As the country embraces digitization, the need for secure and reliable identity verification has become increasingly important. Companies in industries ranging from banking and finance to e-commerce and telecommunications recognize the value of robust identity management systems in mitigating risks and ensuring compliance requirements. 

The introduction of initiatives like Aadhaar, the world’s largest biometric identification system, has further highlighted the importance of authentication in India. With over one billion registrants, Aadhaar has become the cornerstone of verified identity in the country, creating a trusted and universally recognized identification mechanism for however the increasing complexity of cyber threats and fraud requires the development of advanced authentication solutions beyond these traditional methods. 

Key Technologies Driving The Revolution

Identity traffickers in India use various state-of-the-art technologies to provide safe and effective solutions. This technology not only increases the accuracy and reliability of identity verification but also improves the user experience, making the process seamless and hassle-free. 

i]. Biometric Authentication

Biometric authentication is one of the most widely used and trusted methods of verifying identity in India. Using unique biological characteristics such as fingerprints, facial recognition and iris scans, biometric authentication provides a secure and accurate method of verifying identity This technology is widely used in banking, healthcare and government sectors in the 19th century, where safety is paramount. 

ii].  Artificial Intelligence And Machine Learning

Artificial intelligence (AI) and machine learning (ML) are playing a major role in the revolution in identity authentication in India. This technology enables retailers to analyze large amounts of data in real time, identify patterns, and identify anomalies that can mean fraudulent activity AI and ML algorithms are particularly effective at preventing and reducing identity theft false positives, increasing the security of all authentication methods. 

iii].  Document Verification

Document authentication is another key technology used by identity traffickers in India. This process includes verifying documents such as passports, driving licenses and utility bills to confirm identity and identity fraud. 

iv].  Multiple Functions (Mfa) .

Multifactor authentication (MFA) adds additional security to identity verification by requiring users to provide multiple levels of authentication. This can be something they know (password), something they have (mobile device), and something they own (biometric characteristics). Companies in India are increasingly adopting MFA to protect sensitive information and prevent unauthorized accounting. 

v].  Blockchain Technology

Blockchain technology is emerging as a game changer in the field of identity authentication. By providing a decentralized and tamper-proof ledger, blockchain ensures the integrity and security of identity data. This technology is particularly useful in industries such as finance and healthcare, where sensitive information needs to be protected. Identity verification vendors in India have started exploring blockchain’s potential to create a secure and transparent identity ecosystem. 

Impact On Businesses And Consumers

The adoption of advanced identity authentication solutions in India is having a significant impact on businesses and consumers. By increasing security and reducing the risk of fraud, these solutions help businesses build trust with their customers and comply with regulatory requirements in addition to enabling businesses to streamline their operations, reduce costs and improves customer satisfaction. 

i].  Banking and Financial Services

In banking and financial services, identity verification is critical to preventing fraud and ensuring Know Your Customer (KYC) compliance. Identity vendors in India are providing banks and financial institutions with advanced solutions that provide quick and accurate customer identification. Not only does this help reduce the risk of fraud, it also improves customer onboarding, making it faster and more efficient. 

ii].  E-Commerce

E-commerce companies in India can also benefit from advanced identity verification solutions. With the rise of online transactions, the need for secure and reliable proof of identity has become more important than ever. Identity vendors help e-commerce companies prevent fraud, protect customer data, and ensure product authenticity. This is especially important in cash on delivery (COD) negotiations, where it is important to verify the identity of the beneficiary. 

iii].  Telecommunications

The telecom industry in India is another industry where human certification plays an important role. With the increasing use of mobile devices for communication and services, telecommunications companies are implementing identity verification solutions to ensure the security of their services including this ensure new customer identity, to prevent SIM card fraud and protect customer data. 

iv].  Health care

In the healthcare industry, authentication is required to protect patient information and ensure the integrity of medical records. Identity traffickers in India are offering solutions to healthcare providers that enable them to verify the identity of patients, healthcare providers and other stakeholders. This not only increases safety, but also improves the efficiency of healthcare services by reducing administrative errors. 

v].  Government Services

Government agencies in India have increasingly relied on identity verification to ensure the security and accuracy of their operations. From issuing identity documents to distributing social welfare benefits, identity-tracking vendors help government agencies ensure citizen identity and prevent fraud. This is especially important in the case of Digital India initiatives, where the government is using technology to deliver services to citizens online. 

Challenges And Opportunities

While the adoption of comprehensive identification solutions in India presents some opportunities, it also presents its own challenges. The main challenge is to strike a balance between security and usability. While robust identity verification solutions are necessary for security, they should not create unnecessary friction for users. Identity traffickers in India are tackling this challenge by developing solutions that are not only secure but also user-friendly. 

Another challenge is the need to ensure privacy and security of identity. Because identity authentication requires the collection and processing of sensitive information, a strong data protection system is essential. Identity brokers in India are increasingly focused on implementing privacy policy principles and complying with data protection regulations to ensure the security of personal data processed and privacy. 

Despite these challenges, the identity industry in India is poised for a tremendous growth. With the increasing adoption of digital services and increased focus on security, the demand for advanced identity solutions is expected to continue to grow This presents significant opportunities for identity traffickers who their participants to develop solutions and innovations that meet the evolving needs of industry and customers. 

Conclusion

Identity verification vendors in india  are playing a pivotal role in transforming security across industries. Using advanced technologies such as biometric authentication, AI and machine learning, blockchain, these vendors will provide companies with the tools they need to protect their customers and comply with regulatory requirements The impact of these solutions will be felt across sectors, from banking and finance to e - commerce and healthcare. 

As the digital landscape evolves in India, the role of identity marketers will become increasingly important. By being ahead of the curve in technology and addressing security and privacy challenges, these vendors are well positioned to lead the charge in creating a secure and reliable digital ecosystem in the India. 

The future of identity proofing in India is bright, with endless innovation and growth. As companies and consumers prioritize security, demand for advanced identity verification solutions will continue to grow, making it an exciting time for the industry.

[pgsenergyservices]

Understanding the Role of ESG Rating Provider Agencies in Driving Accountability

Introduction: The Journey of PGS Impact Private Limited

PGS Impact Private Limited, an impanelled ESG Rating Provider with the Securities and Exchange Board of India (SEBI) wide registration no. Category-II/0007). We specialize in delivering comprehensive Environmental, Social, and Governance (ESG) ratings.

Our expertise is rooted in a strong foundation of sustainability, energy efficiency, and renewable energy solutions, under the PGS Group, which boasts over 20 years of experience in energy efficiency & sustainability for 12 energy-intensive sectors including Refinery, Petrochemicals, Railways, Thermal Power Plants, Cement, Textile, Paper & Pulp, Commercial buildings, DISCOMs, MSMEs, Iron & Steel, and Aluminum sectors.

Over the years, PGS Impact evolved into one of the SEBI Registered ESG Rating Providers under Category II. Environmental, Social, and Governance (ESG rating provider agencies in India), renowned for its meticulous assessments and unwavering commitment to transparency and accountability. The turning point for PGS Impact came in 2024 when they were approached by a major manufacturing conglomerate facing scrutiny over its environmental practices.

The conglomerate, recognizing the growing importance of sustainability in investor decisions, sought PGS Impact’s expertise to overhaul its ESG practices. PGS Impact’s thorough and unbiased evaluation not only helped the conglomerate improve its environmental impact but also enhanced its reputation among investors and stakeholders.

This success story epitomizes the crucial role that ESG rating provider agencies play in driving corporate accountability. But how do these agencies influence corporate behavior, and why are their ratings so impactful? Let’s delve deeper into ESG ratings to understand their significance.

The Importance of ESG Ratings

ESG ratings are pivotal in the modern investment landscape, serving as a benchmark for evaluating the sustainability and ethical impact of companies. We provide insights into how well companies manage environmental risks, their contributions to social well-being, and the robustness of their governance structures. ESG ratings help investors make informed decisions, ensuring investments align with their values and long-term sustainability goals.

The Role of ESG rating Provider agencies in India

Assessment and Reporting: ESG rating provider agencies, like PGS Impact, analyze data sources, including company disclosures, regulatory filings, and media reports, to evaluate a company’s performance across environmental, social, and governance criteria. These evaluations result in comprehensive reports on areas of strength and opportunities for improvement.

Benchmarking and Comparisons: These agencies provide benchmarks that allow investors to compare companies within the same industry or sector. This comparative analysis helps investors identify leaders and laggards in sustainability practices, guiding investment decisions toward a company’s long-term value creation over short-term gains.

Enhancing Transparency: By making ESG data publicly available, rating agencies foster a culture of transparency and accountability. Companies are encouraged to disclose more information about their ESG practices, leading to better-informed stakeholders and more responsible corporate behavior.

Driving Change: The ratings and insights provided by ESG rating agencies in India often drive companies to implement better ESG practices. Poor ratings can prompt companies to take corrective actions, while high ratings can attract investment and improve a company’s market reputation.

Impact of ESG Ratings on Corporate Accountability

Investor Confidence: ESG ratings build investor confidence by ensuring investments in companies committed to sustainable practices. Studies have shown that companies with high ESG ratings often exhibit lower risk and better long-term performance. For instance, a report by MSCI found that companies with strong ESG profiles had lower costs of capital compared to their peers with lower ESG ratings.

Regulatory Compliance: ESG ratings help companies stay ahead of regulatory changes by highlighting areas that require improvement. This proactive approach to compliance reduces the risk of legal penalties and enhances corporate governance.

Stakeholder Engagement: Companies with high ESG ratings have better relationships with stakeholders, including employees, customers, and communities. This positive engagement can improve brand loyalty, employee retention, and customer satisfaction.

Market Performance: There is a growing body of evidence linking strong ESG performance to superior market returns. According to a study by Harvard Business School, companies with good ratings on material sustainability issues significantly outperformed those with poor ratings.

FAQs

1. How do ESG rating provider agencies ensure the accuracy and reliability of the data they analyze?

ESG rating provider agencies in India play a critical role in promoting corporate accountability and sustainability. Ensuring the accuracy and reliability of their data is fundamental to their mission.

Through diverse data sources, standardized methodologies, rigorous verification processes, transparency, continuous improvement, and technological integration, these agencies provide trustworthy and actionable insights.

The meticulous practices of agencies like PGS Impact Private Limited highlight the industry’s commitment to delivering high-quality ESG ratings that stakeholders can rely on for informed decision-making.

2. What specific criteria do ESG rating provider agencies in India use to evaluate companies’ environmental, social, and governance performance?

By considering a diverse range of environmental, social, and governance criteria, ESG rating agencies in India provide comprehensive assessments of companies’ sustainability performance. These criteria help investors, stakeholders, and companies themselves understand and address their ESG risks and opportunities, driving progress towards a more sustainable and responsible business environment.

The Future of ESG ratings to adapt and innovate:

The future of Environmental, Social, and Governance (ESG) investing and practices is evolving rapidly due to increased awareness, regulatory changes, and shifting investor priorities. Here are some key trends and potential developments:

1. Increased Regulatory Scrutiny

Governments and regulatory bodies worldwide are tightening regulations around ESG disclosures. This trend is likely to continue, with more stringent requirements for companies to report their ESG practices and impacts. Regulations like the EU’s Sustainable Finance Disclosure Regulation (SFDR) and the proposed U.S. SEC rules are setting the pace.

2. Standardization of ESG Metrics

One of the major challenges in ESG investing has been the lack of standardized metrics. Efforts to harmonize ESG reporting standards, such as those by the International Sustainability Standards Board (ISSB) and the Global Reporting Initiative (GRI), are expected to gain traction. This will make it easier for investors to compare ESG performance across companies.

3. Integration of ESG into Core Business Strategies

Companies are increasingly integrating ESG considerations into their core business strategies rather than treating them as separate initiatives. This holistic approach can drive long-term value creation and risk mitigation.

4. Technological Innovations and Data Analytics

Advances in technology, particularly in big data and AI, are revolutionizing ESG analysis. These tools can help investors and companies better understand and manage ESG risks and opportunities. Enhanced data analytics can lead to more accurate ESG scoring and reporting.

5. Focus on Climate Change and Carbon Neutrality

Climate change remains a central issue within ESG. There is a growing emphasis on achieving carbon neutrality, with more companies committing to net-zero emissions targets. Innovations in renewable energy, carbon capture, and sustainable practices are critical areas of focus.

6. Social Issues and Human Capital Management

The social aspect of ESG is gaining prominence, particularly in areas such as diversity, equity, and inclusion (DEI), human rights, and labor practices. Companies are increasingly being held accountable for their social impacts and are expected to demonstrate genuine commitments to these issues.

7. Rise of Impact Investing

Impact investing, which aims to generate positive social and environmental impacts alongside financial returns, is gaining popularity. Investors are looking for opportunities that align with their values and contribute to sustainable development goals (SDGs).

8. Investor Demand and Engagement

Investor demand for ESG products and strategies continues to grow. Shareholder activism and engagement are becoming more common, with investors using their influence to push for better ESG practices and disclosures from companies.

9. Corporate Governance Reforms

Good governance is a critical pillar of ESG. There is a growing emphasis on board diversity, executive compensation linked to ESG performance, and transparent governance practices. These reforms are aimed at ensuring that companies are accountable and aligned with long-term stakeholder interests.

10. Challenges and Criticisms

Despite the positive momentum, ESG faces challenges such as green washing (false or misleading claims about environmental practices), data inconsistencies, and the need for greater clarity on materiality. Addressing these challenges will be crucial for the credibility and effectiveness of ESG efforts.

Conclusion

The journey of PGS Impact Private Limited from a small start-up to a leading ESG rating provider agencies is a testament to the transformative power of ESG ratings.

These agencies are crucial in driving corporate accountability by providing transparent, comprehensive assessments of companies’ sustainability practices. As the demand for responsible investing continues to grow, the influence of ESG rating agencies in India will only become more pronounced, guiding companies toward a more sustainable and equitable future.

As ESG continues to evolve, companies and investors that proactively adapt to these changes are likely to be better positioned for long-term success.

In this evolving landscape, the work of PGS Impact and its peers is more important than ever, ensuring that businesses not only thrive financially but also contribute positively to the world around them.

[ngo-pilot123]

Social Stock Exchange Registration in India

SSE REGISTRATION OF NPO

SSE registration aim is to enable these organizations to get sustainable funding and expansion for their work of transforming people’s lives positively. Listing/Issuing of ZCZP (Zero Coupon Zero Principle) instruments by NPO after registration on social stock exchange. This is a separate segment of the recognized stock exchange that enables Social Enterprises which are NPOs to raise funds through the issuance and listing of ZCZP instruments.

The first step is for the NPO to register itself with SSE and only eligible NPOs can list their instruments for raising funds. There have been certain minimum requirements prescribed for a not-for-profit organization to register on Social Stock Exchange. There is the mandatory criteria that include the mandatory age of NPO being at least 3 years, valid certificate under U/s 12A/12AA/12AB of the income tax, valid 80G registration, annual spending of at least 50 lakhs and a minimum 10 lakh of funds in the past year. This registration is valid for 1 year and renewable after 1 year. In this case, only registered NPO can list or issue ZCZP within the registration validity period, and listing is not mandatory for registered NPO.

Registering Process Of NPO

The NPO needs to register themselves on the SME platforms of the stock exchanges, BSE SSE and NSE SSE. NPOs seeking to register must apply separately to each platform, adhering to the specific checklists and guidelines specified by both exchanges. Compliance with these distinct registration procedures is essential to ensuring successful registration and listing on both the BSE and NSE. This is valid for one year, and it can be renewed after one year. NPO have to be aware that they cannot be linked with Political or religious organization or activities, Infrastructure Company, housing finance, professional trade association and not cover in ineligible activities also.

Not for profits can get SSE Registration. Registration refers to the act of a social enterprise validated by the SSE as being eligible to raise funds. Listing is the process of making a specific type of security available on the SSE for subscription by investors. Listing refers to the specific security instrument (ZCZP/SIB/DIB etc) through which funding is mobilised on the SSE.

Registration Procedure For SSE On BSE

NPOs seeking registration on the BSE SSE must submit a formal application on their official letterhead to the BSE SSE. This application shall go along with the required documents listed below.

Certificate Of Constitution Of NPO

MOA, AOA, Trust Deed, Bye Laws Of Or Any Other Governing Document

Copy Of PAN, TAN, GST

ITR Of Last 3 Years

Audited Financial Statements Including Auditors Report For Last 3 Financial Years.

80G Registration Under Income Tax Act

Registration Certificate Under The Income Tax Act, 1961 Under Section 12AB (Along With Previous Registrations Under 12A/12AA, If Applicable) And/Or 10 (23C).

Annexure I To Be Given On The Letter Head Of The Entity Contains The Confirmation By The Entity That The Entity Is Formed And Registered Under Acts Such As Indian Trusts Act, 1882, Societies Registration Act Etc.

Annexure II Is The Certificate Of Chartered Accountant Stating Annual Spending, Past FY Funding, Filled Annual Returns Within Due Dates, And Other Information As Required Of The NPO.

Annexure III Is The Confirmation Of Eligibility Criteria For Being Identified As Social Enterprise.

Annexure IV Is The Document That Contains The Vision Statement, Mission Statement, Address, NGO Darpan Registration* Details, Its Governing Board, Number Of Staff, Details Of Statutory Auditor, Representative Letter, Key Projects Handled, Social Audit Reports/ Impact Assessment Reports For Projects (If Any)

Details Of Fee

The NGO Darpan (NGO-PS) is a portal provided by the NITI Aayog that connects NGOs, voluntary organizations, and key government ministries. It aims to enhance collaboration, efficiency, transparency, and accountability between the government and the voluntary sector. The portal helps NGOs and the government work together more effectively and offers up-to-date information on new and ongoing government projects and programs, fostering better communication and partnership.

Registration Process Of SSE On NSE

NPOs who want to register on the NSE SSE must submit a formal application on their official letterhead to the NSE SSE. This application should be go along with required documents listed below.

Application As Per Annexure I Contains The Information Of NPO Like Name, Address And Other Information. (PDF Of Annexures To Be Attached With This)

Certificate Of Constitution Under The Relevant Act Such As Public Trust Statue Of The Relevant State, Societies Registration Act, 1860, Indian Trusts Act, 1882, Companies Act, 2013

NPO Must Have Been Registered At Least 3 Years Prior To The Date Of Application

MOA, AOA, Trust Deed, Bye Laws Of Or Any Other Governing Document

Registration Certificate Under Section 12A/12AA/12AB Under Income Tax Act, 1961. Please Note That The Registration Certificate Should Be Valid For At Least Next 12 Months From Date Of Application

80G Registration Under Income Tax Act

Attach Last 3 Financial Years Audited Financial Statement Along With The Fund Flow Statement Of The Registered NPO

Annual Reports For Last 3 Financial Years As Well, In Case The Entity Is A Section 8 Company.

Resolution For Registration On Social Stock Exchange Along With The Annexures Given By The NSE For The Registration.

NPO Can Apply For Its Registration Along With The Fee In Annexure I Which Is The Format For Application Of Registration.

Annexure II Is The Undertaking From The NPO On Their Letterhead Stating The Eligibility Of The NPO To Be Identified As Social Enterprise And Information About Its Promoters.

Social Auditor Or Statutory Auditor Give Undertaking In Annexure III From The Stating Compliances Of Regulation 292E Of SEBI (ICDR) Regulations, 2018, Information In Respect Of The Annual Spending And About The Funding Of The Past FY Of The Entity.

Firstly, there is the same registration process for NSE SSE and BSE SSE by NPO. However, on BSE SSE, we can check our eligibility by filling out the Yes or No question and answers. If you are eligible and give the right answers as per the eligibility criteria, then successful word mention on screen and then register your interest, but on NSE SSE, we need to create a login credential, then we can fill out the application form, and fees are very minimal as per the circular, but we have not been notified yet. On BSE SSE, the process is a little bit easier as compared to NSE SSE.

Generally, the Exchange reverts to the Issuer with the queries/approval on the application within T+5 working days from the receipt of the application which is correct and complete in all respects. However, additional days may be required on case-to-case basis.

Satisfactory response to the queries raised by the exchange shall be submitted on immediate basis which in any way shall not be later than one month from the last requirement raised. Exchange reserves the right to return the applications if not responded satisfactorily within one month. The fees for registering on a SSE can vary depending on specific exchange and SEBI has not notified a separate fee structure for Social Stock Exchanges as of yet.

Note: The documents to be submitted for registration of an NPO are required to be submitted by CEO/Managing Trustee/Statutory Auditor/any authorized signatories from governing body.

There are the different kinds of instruments through which funds can be raised by an NPO on an SSE:

Zero Coupon Zero Principal Instruments

Donation Through Mutual Funds Schemes

Development Impact Bonds

There are the different types of the investors who might invest through SSE.

Only institutional and NPOs from India can invest in not for profit entities. Non institutional investors Companies, family run foundations/trusts and HNIs are qualified to invest in the SSE as non-institutional investors. This means that all philanthropic donors such as Tata Trust, Azim Premji Foundation, Wipro Foundation, Individuals (who will invest more than INR 2 lakhs) and Corporates with CSR obligations would be allowed to make social investments through the SSE.

Conclusion: If NPO want to access the market and explore more for funding, then register on SSE, which can be BSE or NSE. Both have the same registration process, but BSE is a more easy and valuable process that can be easily understood by giving the questions and answers to the eligibility criteria. There is the mandatory registration process for NPOs and providing accurate documents as per above.

DISCLAIMER: The information provided in this article is intended for general informational purposes only and is based on the latest guidelines and regulations. While we strive to ensure the accuracy and completeness of the information, it may not reflect the most current legal or regulatory changes. Taxpayers are advised to consult with a qualified tax professional or you may contact to our tax advisor team through call +91-9871990888 or info@semantictaxgen.in.

[figmentglobal]

GST Compliance Solutions for 2024 Stay Ahead of the Curve

As we move into 2024, the Goods and Services Tax (GST) will continue to be an important part of the tax regime for businesses in many countries, including India. Navigating the complex GST regulations and ensuring compliance can be challenging. But with the right strategies and solutions, companies can not only stay compliant, but also gain a competitive advantage. This comprehensive guide will teach you everything you need to know about GST compliance in 2024, from the latest trends to practical solutions for your business.

Understanding GST And Its Importance

GST is a tax on the supply of goods and services. It has made the tax system simpler and more transparent instead of many indirect taxes such as excise duty, excise duty and VAT The main objective of GST is to create a single integrated market, and reduce the impact of taxation on products and services.

Why GST Compliance Is Important

GST compliance is not only a legal obligation but also a business requirement. Failure to comply could result in heavy fines, interest, and even jail time in extreme cases. More importantly, GST compliance builds trust among stakeholders and enhances your business reputation.

GST Compliance Special Requirements for 2024

To remain GST compliant, businesses must meet several key requirements. These include timely registration, accurate billing, regular returns, and proper record keeping. Let us examine these requirements in more detail.

i]. GST Registration

Any business above a certain turnover threshold must register for GST. For 2024, the limit is ₹20 lakh for service providers and ₹40 lakh for goods providers. Companies involved in cross-border supply chains or e-commerce must be registered, regardless of sales.

ii]. Complete Invoice

Proper invoicing is important for GST compliance. Invoices must include specific information such as supplier and recipient details, description of goods or services, quantity, GST value and amount payable If you use invoicing software with GST meet can help ensure accuracy and reduce errors.

iii]. Timely Filing of GST Returns

GST returns can be filed on a monthly or quarterly basis, depending on the turnover of the business and the filing plan chosen. In 2024, you still need to file on time to avoid late payment penalties and interest. The leading types of GST returns include GSTR-1, GSTR-3B and GSTR-9.

iv]. Record Keeping

Companies must keep detailed records of their finances, including sales, purchases and inventories. These records should be kept for at least six years and should be readily available for GST accounting. Proper record keeping not only helps with compliance but also provides valuable insight into operations.

Recent GST Update for 2024

Staying up to date with the latest GST changes is essential for compliance. Here are some other important 2024 trends that businesses need to know about:

i]. E-invoicing Order Extension

From 2024, e-invoicing is mandatory for businesses with annual turnover exceeding ₹5 crore. The move is aimed at greatly simplifying the billing process, reducing tax evasion and improving transparency.

ii]. Changes in GST Rates

The GST Council revises taxes from time to time to meet the needs of specific economies and industries. In 2024, costs have been adjusted across a wide range of sectors, including hospitality and healthcare. Companies need to update their policies and pricing accordingly.

iii]. Simplification of GST Returns

GST return filing has been simplified by introducing one monthly return instead of multiple forms. These changes reduce the burden of compliance on businesses and streamline the process.

vi]. Investment Tax Credit Restrictions

Input Tax Credit (ITC) has been tightly restricted to deal with fraudulent claims. Companies must now ensure that suppliers are compliant and properly report payments if they claim ITC.

GST Compliance Challenges And Solutions

While GST compliance is important, it is not without its challenges. Here are some common issues that professionals face, and practical solutions to overcome them.

i]. Monitoring Multiple GSTINs

Businesses operating in multiple countries must have a unique GST Identification Number (GSTIN) for each country. Managing multiple registrations and returns can be difficult. Solution: Use integrated GST software that consolidates all GSTINs and automates filing.

ii]. Verify The Data

GST return errors can result in penalties and compliance issues. Solution: Use automated processes and regular audits to ensure data integrity. Training of employees on GST requirements and other issues is also important.

iii]. E-way Cost Management

E-way bill is required for movement of goods worth more than ₹50,000. Monitoring and ensuring compliance with these regulations can be difficult. Solution: Use e-way bill software in conjunction with your ERP system to simplify the process.

iv]. To Stay Updated On GST Changes

The dynamic nature of GST rules makes it difficult to stay current. Solution: Subscribe to GST updates from trusted sources and consider hiring a GST consultant to review complex changes.

GST Compliance Solutions For Various Business Sizes

GST compliance requirements vary depending on the size and nature of the business. Here are shared solutions designed for small, medium and large businesses.

i]. Small Businesses

Small businesses often do not have the resources to deal with a full GST. Solution: Choose an affordable GST software that offers basic features like invoicing, return filing and record-keeping. Additionally, seek help from GST professionals for complex issues.

ii]. Central Services

Mid-sized enterprises need more robust solutions to manage multiple GSTINs with high number of connections. Solution: Invest in GST software that offers advanced features like automatic return filing, e-invoicing, ITC management and more. Regular staff training is also important.

iii]. Major Projects

Larger businesses face the most stringent GST compliance requirements. Solution: Implement an enterprise-level GST solution that integrates with an ERP system and provides advanced features such as real-time compliance monitoring, detailed analytics, and management of multiple GSTINs It is advisable to hire a migrated GST team they have given themselves up.

Technology and GST Compliance

Technology has played an important role in GST compliance. Here’s how technology solutions can help your business stay compliant and efficient.

i]. GST Software

The GST software automates the compliance process, from billing to refund. This improves accuracy, reduces manual effort, and helps avoid penalties. Look for software that offers features like multi-GSTIN support, real-time updates and integration with accounting system.

ii]. E-invoicing Tool

The e-invoicing tool helps create and validate invoices electronically, ensuring legal requirements are met. These tools reduce errors, increase productivity, and simplify reimbursement tracking and management.

iii]. Regulatory System

The Compliance Management System provides an end-to-end solution to manage GST compliance. They offer features like automated filing, real-time compliance monitoring, and advanced reporting. These programs are especially useful for larger companies with difficult-to-comply requirements.

iv]. Cloud-Based Solutions

Cloud-based GST solutions offer flexibility, scalability and accessibility. They enable businesses to manage compliance from anywhere, ensure data security and reduce IT infrastructure costs.

The Right Choice of GST Compliance Solution

Choosing the right GST compliance solution is essential to ensure effective and efficient compliance. Here are some things to consider:

i]. Scope And Complexity Of The Project

Choose a solution that matches the size and complexity of your business. Smaller businesses can benefit from basic software, while larger companies require complete systems.

ii]. The Structure

Make sure the solution provides the features you need for your compliance requirements, such as e-invoicing, multiple GSTIN systems, and automatic return filing.

iii]. Integration Of Materials

Find a solution that integrates well with your existing accounting and ERP systems. This improves data accuracy and reduces manual effort.

iv]. Cost and ROI

Consider the cost and return on investment in the solution. While cost is key, the long-term benefits of compliance and efficiency can exceed the initial investment.

GST Compliance Best Practices In 2024

Adopting best practices can help your business stay compliant and avoid pitfalls. Here are some tips to ensure smooth GST compliance in 2024.

i]. Stay Updated

Keep up to date with GST updates and latest changes. Subscribe to newsletters, attend webinars, and consult with experts to gain more information.

ii]. Automate Processes

Use as many compliance systems as possible to reduce errors and save time. Use GST software and tools that provide automation features.

iii]. Do Regular Audits

Regularly review your GST compliance systems to identify and correct errors. This helps maintain consistency and avoid penalties.

iv]. Train Your Team

Make sure your team is well trained on GST compliance requirements and updates. Regular training can help them to maintain their knowledge and skills.

Conclusion

Staying ahead in GST compliance in 2024 requires a proactive approach and appropriate solutions. By understanding key requirements, keeping up with the latest trends, and leveraging technology, companies can ensure compliance and gain a competitive advantage. Whether you are a small business or a large corporation, adopting the right GST compliance solutions and best practices will help you navigate the complexities of GST and focus on what matters most—w 'growing business.

[forblogmostly]

MIC Electronics Limited Receives Approval for Emergency Lighting System for Railway Coaches

MIC Electronics Limited, a company distinguished by its ISO 9001:2008 and ISO 14001:2004 certifications, is delighted to announce a major advancement in its service offerings. On July 1, 2024, the company received approval from the Ministry of Railways for its emergency lighting system designed for railway coaches. This milestone underscores MIC Electronics' commitment to innovation and excellence in the field of electronic systems.

Key Approval Details

In accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations (LODR) 2015, MIC Electronics Limited shared the news of this significant approval with the BSE Limited and the National Stock Exchange of India Limited.

The company received the results of the capacity cum capability assessment against registration request ID 23647, dated April 12, 2024. The Competent Authority approved MIC Electronics' capacity and capability assessment for item ID: 2400027, which pertains to the Emergency Lighting System for EOG Type LHB AC & NAC Coaches.

This approval not only highlights the company's technical expertise but also paves the way for further contributions to the Indian Railways, enhancing safety and reliability for passengers.

Regulatory Compliance and Transparency

MIC Electronics Limited maintains a high standard of transparency and regulatory compliance. The official communication to the stock exchanges ensures that all stakeholders are informed about the company's latest achievements and regulatory milestones.

Additional Information:

Awarding Entity: Ministry of Railways, Government of India

Nature of Approval: Registration of Emergency Lighting System

Entity Type: Domestic

Promoter Interest: None of the promoters or promoter group companies have any interest in the awarding entity.

Related Party Transactions: The approval does not fall within related party transactions and is executed at arm's length.

This strategic approval from the Ministry of Railways is a testament to MIC Electronics' ongoing commitment to quality and innovation in electronic systems. The company's dedication to developing advanced solutions continues to drive its growth and success in the market.

About MIC Electronics Limited

MIC Electronics Limited, headquartered at Plot No. 192/B, Phase-II, IDA, Cherlapally, Hyderabad, Rangareddi, Telangana – 500051, is a leading provider of electronic display solutions and systems. With certifications in ISO 9001:2008 and ISO 14001:2004, the company ensures high standards of quality and environmental management in its operations.

[acquisory]

ANGEL TAX ABOLISHED – PARTIAL RELIEF FOR START UPS

DIPP in its recently issued notification, which is effective 11th April 2018, does not require start-ups to be incorporated on or after 1 April 2016 for the purpose of exclusion from angel tax provisions. The notification has introduced procedural guidelines to be followed to avail a tax holiday and seek exclusion from angel tax by start-ups. In the context of exclusion of start-ups from fair valuation rules for issue of shares, DIPP has notified twofold conditions to be fulfilled for obtaining IMB approval.

The recent development by DIPP has finally given some relief to Indian Startups. The relaxation has been given to a contentious tax rule and allowed startups set up after April 1, 2016 to qualify for tax exemptions if their total funding is less than Rs. 10 crore and their revenue is less than Rs 25 crore. The Government has also put in place a mechanism for such companies to secure exemption from the ‘angel tax’ with retrospective effect and avail tax incentives under its startup policy. Startups are of great significance for any economy as they are collectively a major emerging source of revenue and employment. Many governments from across the world have been going out of their way to facilitate entrepreneurial dreams. India took initiative to support startups by means of its flagship ‘Make in India’ programme. A plethora of other schemes viz ‘Startup India’ has been launched, but the “Angel tax” haunts startups and angel investors. The issue took a serious turn last year when several startups faced scrutiny from Income Tax department with regard to capital raised at very high valuations.

“ Department of Industrial Policy and Promotion has announced “waiver conditions” for “Angel tax”. Start-ups from now on may avail of the tax concession only if total investment, including funding from angel investors (those who make the initial equity investment) does not exceed Rs.10 crores.”

What is Angel Tax?

Background In 2016, the Central Board of Direct Taxes (CBDT) issued circulars to exempt eligible startups from angel taxes, even if the funding raised by a startup was in excess of fair market value. But this was not as lucrative as it seemed to be. Whether a startup is innovative or not, currently depends on a certification by the Department of Industrial Policy and Promotion (DIPP). This has led to several companies not being incubated inside government registered incubators or eligible for government grants. To be recognized as startup, as per government norms, it must not be older than seven years and must have an annual turnover that does not exceed INR 25 Crore. Most of the startups still had to pay angel taxes as most were not officially recognised as startups.

DIPP’s move- Boom for startups which are born after April, 2016

Department of Industrial Policy and Promotion vide notification G.S.R.364(E) dated 11th April, 2018 superceeding notification no. G.S.R. 501(E) has specified conditions for availing the “Angel tax” exemption on shares issued by start-ups over the fair market value. The notification has set out major relief to the start-ups following the stickling conditions to be recognised as “Start-up”. DIPP has also constituted a broad-based inter-ministerial board to look into the applications for claiming the tax exemptions.

Who will be qualify as a “Startup”?

An entity shall be considered as a Startup: i. if it is incorporated as a- a. private limited company (as defined under Companies Act, 2013); b. registered as a partnership firm (registered under section 59 of the Partnership Act, 1932); c. incorporated as Limited Liability Partnership (under the Limited Liability Partnership Act, 2008); ii. seven years has not elapsed since the date of its incorporation or registration (in case of biotechnology sector, the period shall be up to ten years from the date of incorporation/ registration); iii. turnover of the entity for any financial year since incorporation/ registration has not exceeded INR 25 crores; iv. entity is working towards innovation, development or improvement of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation. Provided that an entity formed by…

Read more: https://www.acquisory.com/ArticleDetails/72/Angel-Tax-Abolished-%E2%80%93-Partial-Relief-for-Start-Ups

[structuredbiiz]

Mastering Alternative Investment Funds: Key Concepts and Practices

Understanding Alternative Investment Funds (AIFs) in the Indian Context

Alternative Investment Funds (AIFs) represent a distinctive segment within India's investment sphere, structured as trusts, companies, LLPs, or similar entities. These funds aggregate capital from a diverse array of investors, both domestic and foreign, with the aim of deploying it according to a predefined investment strategy for the benefit of investors. Unlike mutual funds or collective investment schemes, AIFs operate outside the ambit of SEBI regulations.

Exemptions and Preferences

Certain entities, such as family trusts, ESOP trusts, employee welfare trusts, holding companies, and securitization trusts, enjoy exemptions from AIF regulations. Among the available structures, opting for a trust structure is often favored, particularly for offshore funds, due to its streamlined incorporation process, operational flexibility, and reduced regulatory disclosure requirements compared to companies or LLPs.

Categorization of AIFs

AIFs are classified into three primary categories:

Category I AIFs: These funds primarily target investments in startups, early-stage ventures, SMEs, social ventures, infrastructure, or other economically desirable sectors. Examples include venture capital funds, SME funds, social venture funds, and infrastructure funds.

Category II AIFs: This category encompasses funds that do not fit into Category I or III. Investments may include private equity, structured credit, debt, or real estate funds.

Category III AIFs: These funds engage in short-term trading or do not receive specific government concessions. Examples include hedge funds, long-only funds, and long-short funds.

Visit our website

Structures and Registration

AIFs can adopt various legal structures, such as trusts, companies, LLPs, or other corporate forms, with trusts being the most prevalent. The sponsor, responsible for establishing the fund, may be an individual or entity. An investment manager oversees investment decisions and fund governance.

Regulatory Compliance

Sponsors and investment managers are required to maintain a minimum interest in the AIF's corpus. Each scheme within the fund must meet specified minimum corpus thresholds. Additionally, AIFs have minimum investment requirements for individual investors.

Tax Implications and Stamp Duty

Category I and II AIFs enjoy pass-through tax benefits, wherein income is taxed at the unit-holder level. However, Category III AIFs do not enjoy this tax status. Stamp duty is applicable on the issuance and transfer of AIF units, with rates specified by SEBI.

Eligibility Criteria for Investing in AIFs

Investors seeking to diversify their portfolios can consider Alternative Investment Funds (AIFs) if they meet the following requirements:

Inclusive Investor Base: AIFs accept investments from Resident Indians, NRIs, and foreign nationals.

Minimum Investment Requirements: General investors must commit at least Rs. 1 crore. For directors, employees, and fund managers, the minimum investment is Rs. 25 lakh.

Mandatory Lock-in Period: AIF investments require a lock-in period of at least three years.

Investor Limits: Each AIF scheme can include up to 1000 investors, except for angel funds, which are limited to 49 investors.

Benefits of Investing in AIFs

There are several advantages to investing in AIFs:

High Return Potential: AIFs often provide higher returns compared to other investment options. The substantial pool of capital allows fund managers to devise flexible strategies aimed at maximizing returns.

Lower Volatility: AIFs are not directly tied to the stock markets, resulting in less volatility. This makes them attractive to risk-averse investors seeking stability.

Enhanced Portfolio Diversification: AIFs improve portfolio diversification, offering a cushion during financial crises or market volatility.

Drawbacks of Investing in AIFs

Investing in AIFs comes with some potential downsides:

Higher Fees and Transaction Costs: AIFs typically have higher fees and transaction costs, which can reduce overall returns.

Increased Risk: Compared to traditional investments, AIFs generally carry higher levels of risk, requiring careful consideration by investors.

Transparency and Regulatory Challenges: AIFs may offer less transparency and be subject to reduced regulation, posing challenges for investors seeking clear oversight.

Complexity and Suitability: The complexity of AIFs might not suit novice investors who may find them difficult to understand and manage.

Liquidity Constraints: AIFs can be illiquid, making it challenging for investors to access their capital quickly when needed.

Methods of Investing in Alternative Assets

Starting to invest in various alternative assets varies significantly based on the type of asset:

Private Equity Investments: These involve buying shares in private companies or groups of companies. Investors can engage through private equity firms, venture capital funds, or crowdfunding platforms.

Real Estate Investments: Investors can enter the real estate market by purchasing rental properties, investing in Real Estate Investment Trusts (REITs), or using real estate crowdfunding platforms.

Hedge Funds: Hedge funds are typically reserved for accredited investors with high net worth and substantial investment capital. Access is usually through hedge fund managers or brokers.

Commodity Investments: Investing in commodities involves purchasing physical assets like gold, silver, oil, or agricultural products. Participation can also be through commodity trading platforms, exchange-traded funds (ETFs), or mutual funds.

Art and Collectibles: Investing in art and collectibles can be done through art dealers, auction houses, or online marketplaces. Given the unique nature of these items, it's essential to verify the dealer's reputation.

Cryptocurrency Investments: Cryptocurrency investments are made through cryptocurrency exchanges, brokers, or online platforms. Investors typically deposit domestic currency into a digital wallet to manage their private keys and digital currencies.

Conclusion

Understanding the nuances of AIF structures, categories, and regulatory obligations is crucial for stakeholders navigating the alternative investment landscape in India.

[udyamregistration1]

Udyam Registration Procedure

India has the world’s largest MSMEs after China (Micro, Small, and Medium Enterprises). MSMEs contribute significantly to the economic and social development of the country by stimulating innovation, entrepreneurship, job creation, exports, and inclusive growth.

The MSME sector generated 30.3 percent of the country’s overall GDP in 2018-19, according to the National Statistical Office. The Government of India has always placed a great emphasis on the sector’s growth and development, and a recent step was the implementation of Udyam Registration for MSME’s, which will go into effect on July 1, 2020, and will streamline the process of MSME registration from UAM and EM-II (old process).

With effect from July 1, 2020, all businesses will be classified as MSME

The Micro, Small, and Medium Enterprises Development (MSMED) Act, which was notified in 2006, establishes the legal framework for an enterprise to be classed as an MSME. This act attempts to foster the development of these enterprises as well as boost their competitiveness through a variety of schemes, privileges, and other incentives provided by the Government of India.

While delivering the economic package as part of the Aatmanirbhar Bharat Abhiyaan, Finance Minister Nirmala Sitaraman announced revisions to the idea of Micro, Small, and Medium Enterprises (MSME). These modifications were initially announced in June 2020 and will take effect on July 1, 2020. MSMEs were previously characterized primarily by the amount of money invested; however, the new criteria now include the company’s turnover as well. Furthermore, under the new definition, both manufacturing and service enterprises would be included in the same statistic.

An Enterprise (Udyam) must register by completing the following steps:

Anyone who wants to start a micro, small, or medium business can apply for Udyam Registration online through the Udyam Registration portal, which is self-declaration-based and does not require the upload of any paperwork, papers, certifications, or proof.

In contrast to the UAM / EM-II, which required annual renewals, the new Udyam Registration is a one-time registration for an MSME.

A simplified registration form is available on the Udyam Registration webpage. When a company receives a GSTIN, the GST site obtains the company’s name, address, and bank information.

Udyam Registration will necessitate the use of an Aadhaar number. In the case of a proprietorship firm, the proprietor’s Aadhaar number, in the case of a partnership firm, and a Karta’s Aadhaar number in the case of a Hindu Undivided Family’s Aadhaar number in the case of a Hindu Undivided Family’s Aadhaar number in the case of a Hindu Undivided Family’s Aadhaar number in the case of a Hindu Undivided (HUF). The GSTIN and PAN, as well as the Aad, must be filed by the organization or its authorized signatory if it is a corporation, a limited liability partnership, a cooperative society, a society, or a trust.

If an entity has been correctly registered as an Udyam and has a PAN, any information gaps from previous years when it did not have a PAN must be filled out on a self-declaration basis. There may be no more than one Udyam Registration per business, but any number of operations, including production, service, or both, maybe included or added to a single Udyam Registration. Control Rooms located at various institutions and offices of the Ministry of Micro, Small, and Medium Enterprises, such as Development Institutes (MSME-DIs) and District Industries Centres (DICs), would act as Single Window Systems to facilitate the registration process.

By July 1, 2020, all current EM–Part-II or UAM-registered firms must re-register on the Udyam Registration portal. All businesses registered before June 30, 2020, would be reclassified, according to a notification issued on June 26, 2020. Existing enterprises established before to June 30, 2020, will be valid only until March 31, 2021. Companies that are already registered with another Ministry of Micro, Small, and Medium Enterprises agency must also register with Udyam Registration.

After acquiring the Udyam Registration Number, the business must self-declare its information online in the Udyam Registration site, including the contents of the previous fiscal year’s ITR and GST Return, as well as any other information that may be required. The enterprise’s status will be stopped if the critical information is not updated within the term specified on the Udyam Registration portal. The business classification will be changed based on data submitted or received from government sources such as ITRs or GST returns.

[seemabhatnagar]

#ElectoralBond Scheme

Association for Femocratic Reforms and Another v.  Union of India and Others

WP(C) 880/2017

Before Supreme Court of India

Writ Petition was allowed on 15.02.2024

On 2 January 2018, the Ministry of Finance in the Department of Economic Affairs notified the Electoral Bond Scheme 2018 in exercise of the power under Section 31(3) of the RBI Act.

The Electoral Bond is issued in the nature of promissory note which is a bearer banking instrument and does not carry the name of the buyer.

The scheme allowed anonymous donations to political parties through interest-free financial instruments.

The scheme was challenged by several petitioners, including the Association for Democratic Reforms, who argued that it violated the voter’s right to information, the principle of free and fair elections, and the equality clause of the Constitution.

On 15 February 2024, a five-judge Constitution Bench of the Supreme Court, led by Hon’ble Mr. Chief Justice D.Y. Chandrachud, unanimously struck down the scheme as unconstitutional, holding that it infringed on the fundamental right of the voters to know the source of funding of the political parties

The features of the Scheme are as under:

The Bond may be purchased by a person who is (i) a citizen of India; or (ii) incorporated or established in India. ‘Person’ includes (a) an individual; (b) a Hindu undivided family; (c) a company; (c) a firm; (d) an association of persons or a body of individuals, whether incorporated or not; (e) every artificial juridical person, not falling within any of the above categories; and (f) any agency, office, or branch owned or controlled by such a person. An individual can buy bonds either singly or jointly with other individuals;

An Electoral Bond can only be encashed by an eligible political party. A political party, to be eligible to receive an electoral bond, has to be registered under Section 29A of the RP Act, and ought to have secured not less than one per cent of the votes polled in the last general election to the House of the People or the Legislative Assembly of the State. An eligible political party can encash a bond only through a bank account with an authorised bank. The scheme has notified the State Bank of India as the bank authorised to issue and encash bonds;

The instructions issued by the Reserve Bank of India regarding KYC apply to buyers of the bond. The authorised bank may call for additional KYC documents if necessary;

Payments for the issuance of the bond are accepted in Indian rupees, through demand draft, cheque, Electronic Clearing System or direct debit to the buyer’s account. Where payment is made by cheque or demand draft, it must be drawn in favour of the issuing bank at the place of issue;

The bonds are issued in denominations of Rs 1000, 10,000, 1,00,000, 10,00,000 and 1,00,00,000;

The bond is valid for fifteen days from the date of issue. No payment will be made to a political party if the bond is deposited after the expiry of fifteen days. If the bond is not encashed within fifteen days, it will be deposited by the authorised bank with the Prime Minister’s Relief Fund;

A buyer who wishes to purchase electoral bond(s) can apply in the format specified in Annexure II of the Scheme. issue the bond if all the requirements are fulfilled. The application shall be rejected if the application is not KYC compliant or if the application does not meet the requirements of the scheme;

The bond issued is non-refundable;

The information furnished by the buyer is to be treated as confidential by the authorized bank. It shall be disclosed only when demanded by a competent court or upon the registration of criminal case by any law enforcement agency;

The bond shall be available for purchase for a period of ten days on a quarterly basis, in the months of January, April, July, and October as specified by the Central Government. Bonds will be available for an additional period of thirty days as specified by the Central Government in a year when General Elections to the House of People are to be held;

No interest is payable on the bond. No commission, brokerage, or any other charges for issue of a bond shall be payable by the buyer against purchase of the bond;

The value of the bonds shall be considered as income by way of voluntary contributions received by an eligible political party for the purpose of exemption from Income Tax under Section 13A of the IT Act; and

The bonds are not eligible for trading.

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Unlocking Opportunities: Business Setup in India

Introduction: Embracing India's Business Landscape

India, with its vibrant economy and diverse market, offers a plethora of opportunities for entrepreneurs and businesses alike. From its bustling metropolitan cities to its emerging tier II and tier III towns, India presents a dynamic landscape ripe with potential. Business Setup In India can be a transformative journey, paving the way for growth, innovation, and success.

Understanding the Legal Framework: Navigating Regulations and Compliance

When venturing into the Indian market, understanding the legal framework is paramount. India has a well-defined regulatory system governing business operations, encompassing company registration, taxation, intellectual property rights, and more. Consulting with legal experts or professional services can provide invaluable guidance in navigating these regulations seamlessly.

Company Registration: Establishing Your Presence

Taxation: Deciphering the Fiscal Landscape

India's taxation system is multifaceted, comprising direct and indirect taxes governed by various statutes and regulations. From income tax to Goods and Services Tax (GST), understanding the tax implications is vital for financial planning and compliance. Engaging with tax consultants can aid in optimizing tax structures and leveraging incentives offered by the government for certain sectors and industries.

Market Research: Unveiling Consumer Insights

Conducting comprehensive market research is indispensable for success in India's diverse marketplace. Analyzing consumer behavior, preferences, and trends provides invaluable insights for product development, pricing strategies, and marketing initiatives. Leveraging market intelligence tools and engaging with local research agencies can facilitate data-driven decision-making and enhance market penetration.

Localization Strategies: Tailoring Your Approach

India's cultural diversity necessitates localization strategies tailored to specific regions and demographics. From language localization in marketing communications to adapting product offerings to local preferences, embracing cultural nuances fosters resonance and relevance among target audiences. Collaborating with local partners or hiring indigenous talent can further augment localization efforts and foster community engagement.

Leveraging Technology: Embracing Digital Transformation

In an increasingly digital age, embracing technology is pivotal for business growth and scalability. Leveraging digital platforms for marketing, e-commerce, and customer relationship management enhances reach and engagement. Investing in robust cybersecurity measures safeguards sensitive data and instills trust among consumers, fostering long-term relationships and brand loyalty.

Conclusion: Embracing the Journey

Setting up a business in India is not merely a transactional endeavor but a transformative journey fueled by innovation, resilience, and adaptability. By understanding the legal landscape, embracing market dynamics, and leveraging technology, entrepreneurs can unlock boundless opportunities for growth and success in one of the world's most dynamic economies.

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Why GST Verification Matters Ensuring Compliance and Avoiding Penalties

In today’s complex business environment, the Goods and Services Tax (GST) plays an important role in the economies of many countries including India. Understanding and complying with GST laws is not just about meeting legal requirements; it’s about ensuring your business remains compliant, efficient, and competitive. In this comprehensive guide, we will explore why GST verification is important, how it works and its important benefits. We will also investigate possible penalties for non-compliance and provide practical advice to ensure your business stays on the right side of the law.

Understanding GST and its importance

GST is an indirect tax that has replaced many indirect taxes in countries like India. This means that there is a tax on goods and services and the supply of goods and services. This tax is comprehensive, comes in many forms and is levied at every point of sale. 

The importance of GST cannot be overstated. Consolidating multiple taxes into one streamlines the tax system, thereby making the tax system less burdensome for businesses. In addition, it eliminates the incremental tax impact, where the end user has to pay taxes on top of the taxes paid by companies. 

What is GST Verification? 

GST verification is the process of verifying the GST number (GSTIN) assigned to a business or individual. This Verification ensures that the organization is registered under the GST regime and complies with the necessary tax regulations. The GSTIN can be verified using various tools available on the official GST portal or other authorized platforms. 

How GST verification works 

The GST verification usually involves verifying the GSTIN against the official GST database. Here is a step by step guide on how it works. 

To access the GST portal: Visit the official GST website or use the authorized verification tool.

Enter GSTIN: Enter the 15-digit GSTIN you want to verify.

View context: The system will display company registration information, including business name, type and status.

Confirm authenticity: Verify the details with your records to ensure that the GSTIN is valid and active. 

Benefits of GST verification 

Ensuring GST compliance through regular Verification offers several benefits: 

i]. Avoiding Fraud

Preventing fraud is one of the main reasons for GST Verification. Managing GST numbers enables businesses to ensure they are dealing with the right suppliers and customers, thus reducing the risk of fraud. 

ii]. Ensure input tax credit

To avail the Input Tax Credit (ITC), businesses must ensure that suppliers are registered and GST compliant. GSTIN verification ensures that the ITC identified is correct and will not be rejected during verification. 

iii]. Maintaining compliance

Regular GST verification helps businesses stay compliant with GST rules, thereby avoiding penalties and lawsuits. It ensures that all business stakeholders are registered and in compliance with GST norms. 

iv]. Building trust with stakeholders

The adoption of GSTIN promotes trust and confidence among stakeholders including consumers, suppliers and financial institutions. It shows a commitment to transparency and compliance. 

Procedure for GST verification 

i]. Manual authentication

Manual Verification The GSTIN is checked directly on the GST portal. This process is straightforward but can be time consuming for businesses handling multiple GST numbers. 

ii]. Automated verification tools

Several software solutions and tools automate the GST verification process. These tools can handle bulk validation, saving time and reducing human error. They are especially useful for larger businesses with multiple supply chain and customer networks. 

iii]. Third Party Services

Companies can also use third-party GST-certified services as part of their compliance solutions. This role provides comprehensive monitoring, which typically includes routine audits and compliance reviews. 

General GST verification information 

i]. Invalid GSTIN

A common issue is that you will encounter invalid GSTINs. These can be the result of typographical errors, listed transactions, or fraud. Regular inspections help identify and resolve these issues quickly. 

ii]. Detail inconsistencies

Sometimes, the information provided by the agency may not match the information available in the GST database. This discrepancy can lead to compliance issues and potential penalties. Regular use of detailed information can eliminate such discrepancies. 

iii]. Technical error

Sometimes technical issues in the GST portal can hamper the verification process. These problems can be minimized by staying aware of GST portal advertisements and using reliable tools for validation. 

Penalties for non-compliance 

i]. Financial penalties

Non-compliance with GST rules can result in severe financial penalties. These penalties can be very burdensome, especially for small businesses. Regular GST verification helps ensure compliance of all transactions and avoid such penalties. 

ii]. Consequences of law

In extreme cases, non-compliance could result in legal proceedings against the business. This includes prosecution, fines and even imprisonment for serious crimes. These risks are mitigated by ensuring compliance through regular GST. 

iii]. Defamation

Non-compliance and resulting penalties can damage a business’ reputation. This can damage customers, suppliers and overall confidence in the marketplace. Maintaining compliance by checking GST helps to maintain the reputation of the business. 

Best practices for GST verification 

i]. Regular accounting

Regular GST inspections ensure that all GSTINs are validated and compliant. These audits can be scheduled quarterly or bi-annually, depending on the size and nature of the project. 

ii]. Training of employees

Errors can be eliminated and compliance improved by ensuring that staff involved in the GST process are well trained. Regular training and updates on GST rules can be useful. 

iii]. Use reliable equipment

Investing in reliable GST Verification tools can streamline the process and reduce errors. These tools often come with additional features such as quantitative verification and compliance reporting. 

iv]. Keeping pace with change

GST rules and regulations can change frequently. Keeping track of these changes ensures that the business remains in compliance. Subscribing to official GST updates and business newsletters can help manage these changes. 

v]. Popular with professionals

For businesses that find GST compliance difficult, engaging professionals such as tax consultants or GST specialists can be a viable option. These professionals can provide expert advice and handle complex compliance issues. 

Conclusion

GST Verification is not a compliance function; It is an integral part of a business’s financial and operational structure. By ensuring compliance and avoiding penalties, companies can protect their financial health, maintain a strong reputation, and build trust with their partners. Conventional GST should be an integral part of every company’s tax plans.

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What is RNI Registration? How can a Newspaper Business get this Certificate?

Introduction:

The Registrar of Newspapers for India (RNI) registration stands as a crucial gateway for newspapers and publications in India, ensuring compliance with regulatory standards and fostering credibility in the dynamic media environment. Governed by the Press and Registration of Books Act, of 1867, this certification process is essential for legal recognition, access to government advertising, and upholding journalistic integrity.

Understanding RNI Registration:

RNI registration is a mandatory process designed to regulate and authenticate newspapers, periodicals, and magazines in India. The primary objective is to ascertain the authenticity and periodicity of publications, fostering transparency and accountability within the media industry.

Eligibility Criteria:

Before embarking on the application journey, publishers must ensure that their publication aligns with RNI's eligibility criteria. The publication should qualify as a newspaper, periodical, or magazine, adhering to minimum size requirements.

Digital Signature Certificate (DSC):

The application process involves online submissions, necessitating the acquisition of a Digital Signature Certificate (DSC) from authorized certifying agencies. The DSC ensures the security and authenticity of online transactions during the application process.

Creating an Account on the RNI Website:

Publishers initiate the process by creating an account on the official RNI website (https://rni.nic.in/). This account serves as the gateway to the online application portal.

Form I: Providing Comprehensive Information:

The heart of the application process lies in Form I, where publishers furnish detailed information about the publication. This includes the title, language, periodicity, circulation figures, and ownership details. Accuracy and completeness in filling out Form I are paramount for a smooth application process.

Uploading Supporting Documents:

To substantiate the information provided in Form I, publishers are required to upload several supporting documents. These may include an affidavit confirming compliance with the Press and Registration of Books Act, of 1867, a declaration of ownership, details of the printing press, and copies of the publication for a specified period to establish regularity.

Verification Process:

Following the submission of the application, RNI authorities may conduct a physical verification process. This may involve on-site visits to the printing press, confirmation of circulation figures, and a comprehensive check to ensure compliance with eligibility criteria.

Verification Certificate:

Upon successful verification, RNI issues a Verification Certificate. This document attests to the fact that the publication has been duly verified and is eligible for registration.

Payment of Fees:

With the Verification Certificate in hand, publishers proceed to the payment of prescribed registration fees. The fees vary based on factors such as the periodicity of the publication, language, and circulation.

Form II: Finalizing the Application:

Form II marks the final stage of the application process. Publishers submit this form along with the Verification Certificate and proof of payment. Form II reiterates key details from Form I and includes the Verification Certificate number.

Approval and Registration:

Once the application, verification, and payment processes are complete, RNI reviews the submission. If all requirements are met, RNI issues the official registration certificate. This certificate marks the successful culmination of the application process, officially registering the publication with RNI.

Periodic Renewal:

RNI certification is not perpetual; publishers are required to renew their registration periodically. This involves submitting updated information and ensuring continued compliance with regulatory standards.

Significance of RNI Certification for Newspaper Companies:

The RNI certificate holds multifaceted significance for newspaper companies operating in India. Firstly, it serves as a legal recognition of the publication, bolstering its standing in the media landscape. This recognition is crucial for establishing credibility and attracting readership.

Moreover, RNI certification opens doors to government advertising opportunities. Many government agencies prioritize advertising in registered publications, and being RNI-certified enhances a newspaper's eligibility for such lucrative opportunities. This not only acts as a substantial revenue stream but also reaffirms the publication's legitimacy.

Furthermore, RNI registration is a testament to a newspaper's commitment to ethical journalism. By adhering to regulatory standards and undergoing the verification process, newspapers demonstrate a dedication to responsible reporting, contributing to the overall trustworthiness of the media industry.

Conclusion:

In conclusion, the RNI registration process in India is a meticulous journey that ensures the authenticity, periodicity, and compliance of newspapers and publications. It serves as a cornerstone for legal recognition, access to government advertising, and upholding journalistic standards. Navigating this process requires diligence, accuracy, and commitment to regulatory compliance, ultimately contributing to a credible and accountable media environment in India. RNI certification not only bestows official recognition but also symbolizes a commitment to responsible journalism and transparency within the dynamic landscape of the Indian media industry.