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In a Private Limited Company or PLC, Directors plays important functioning roles from taking business decisions to looking after business operations. Directors are the key people on whom Shareholders of a company trusts while investing money. Here in this article, we shall discuss how a company can have a new director on its Board legally in India. Role of Director in a PLC As per Companies Act, 2013 a “Director” is a person appointed to the Board of a company for managing company matters. The role of a Director is to administer, control or direct the affairs of a company and also supervises and manages its matters. In other words, a company acts through its Directors. Hence, a company's management is entrusted to a body of persons called the “Board of Directors”. How to become a director in a Private Limited Company(PLC) To become a Director in a PLC, he/she must need a Director Identification Number or DIN Number which can be obtained by anybody who is 1...

You may know it or yet unaware, but businesses or individuals need to deal with trademarks on a daily basis, this is another way to refer to brands. The purchasing decisions by consumers get influenced by trademarks and brand reputation. This is very essential for businesses to know why trademarks are significant as their asset and brand name. But what is a trademark? In simple words, a trademark may be anything from a logo, to a slogan or a word, that can distinguish your business from the rest. Here are some reasons why a trademark is essential for your business: Trademark is an asset When you start creating a niche for yourself, the trademark adds to its value. Therefore trademark registration can help in monetizing in the future and protect from any kind of infringements, what may be possible. But the fact is that trademark registration is possible only when the name is unique. Hence you must search for the name before you register. Nowadays, with the rising o...

To keep your business account books updated you need accounting expertise and a good amount of dedicated hours.  Many startups are daunted by the necessary idea of accounting and bookkeeping. To tell you, it's really very simple but a steady process. Bookkeeping is needed in every business, from a small sized startup to an established big company. Accounts Books Maintaining Service   Basic goals of bookkeeping and accounting: Keep track of income and expenses, which enhances your chances of profit. To collect all the financial information necessary for filing various tax returns. There is no particular method of keeping records but just an accurate way that will reflect your income and expenses of your business, based on the size of your venture and sales, you can develop your own ledgers and reports. Three steps to follow: The actual method can be done in three steps: Keep the receipts or any records of every payment made and expenditure done...

GST return filing is a must for all people with GST registration in India. Under GST registration, one has to file GSTR1, GSTR2 and GSTR3 returns on the 10th, 15th and 20th of each month. Here, in this blog we tell about GST return filing in details. Source: thewadhwagroup With GST, it makes no difference, if you are a manufacturer, a trader or a service provider, you have to file GST returns. The GST is charged on sales price of services or goods, the amount to be paid to the Government is based on value added to the services or goods at every level of distribution or supply. After doing registration for GST, you have to do the following: apply GST charge on all the sales, except for exempted supplies provide tax invoices to GST-registered people within a month maintain the receipts and GST invoices on buying goods for your services retain GST invoices to claim your GST credit maintain all your records and documents to support your GST returns do your GST calculatio...

Trade license is an essential document for every business and it is mandatory for every establishment to acquire a license from the License Department before production, transfer or storage of any products or service. Source:siliguritimes Trade License is a permit issued by the municipal corporation to permit a selective trade at a specific address. It is a very time-consuming process and also little costly because when you set up a business, you need various types of licenses, based on the type of business you own, and other factors like employees count and the functionalities of your service. The licenses ensure that the business is carried on as per relevant rules and safety guidelines. What is the necessity of a trade license Business registration is different from obtaining a Trade License. Trade license is a governmental permission to start a business.  Here, we have articulated how to get a trade license . A method of trade regulation to make sure to comply with r...

To manage and monitor student learning, school management software have become tremendous efficient and beneficial in substituting the manual supervision. School management is an important part of all education system and the school authorities must do the same with utmost care. To best perform in the area of school management using a school management software is the wise and practical. The software is available with a variety of features which can make the administrative functioning of schools, easy and error free. Let's take a look at the top characteristics of an effective school management software: Information about student This includes homework, discipline, attendance, grades, and every achievement. The software can access every information about the student in one place for easy retrieval when necessary. Besides academic information, the details about a students’ medical history, expenses, billing etc. are also maintained. Information about teacher ...