What are the options for NGO Registration?

NGO stands for Non-government organizations which are formed to support the underprivileged sections of the society and help in the management of different issues such as social, cultural, legal, and environmental, art, science etc. There is no intervention from government in the functioning of these NGOs. People voluntarily give their name to contribute to the functioning of the NGO. In this blog we will discuss about the NGO registration.

Topics covered under this blog:

1. What are the types of NGO registration?
2. What is the process of NGO registration in the form of trust?
3. What is the process of NGO registration in the form of society?
4. What is the process of NGO registration in the form of section 8 company?

What are the types of NGO registration?

In India, NGO registration can be done in three ways. The Indian Trusts Act, 1882, Society Registration Act, 1860 and companies Act, 2013 governs the NGO in the form of Trust, society and Section 8 Company respectively.

Further, we will look into the procedure of forming these NGOs-

What is the process of NGO registration in the form of trust?

For NGO registration in the form of trust you need to clarify the following-

1. Purpose of creating a trust
2. Idea behind the trust
3. Beneficiary details
4. Properties of the trust assigned by the assignee

Further below mentioned steps will be carried out for NGO registration:

• STEP1: Naming an NGO

The first step is to come up with the name for your NGO

• STEP2: List of members of the trust

You need to specify, who will be the settler, trustees (at least 2) and beneficiaries for your NGO.

• STEP3: Memorandum of Association (MoA)

You have to frame a Memorandum of Association (MoA) and trust deed which must include all the key provisions and clauses. Trust deed is executed on the stamp paper that should be of value in accordance with the laws prescribed by the government.

• STEP4: Submission of signed deed

All the trustees and settler has to sign the trust deed, and register it with the local registrar of the area, where the NGO will be functional.

What is the process of NGO registration in the form of society?

There are certain steps that need to be followed for the NGO registration in the form of society-

• STEP1: Naming the Society

The first step is to select the name for your NGO.

• STEP2: Formation of Governing Body

You need to decide upon the governing body of the proposed trust.

• STEP3: Memorandum of Association (MoA)

Then you are required to make the memorandum of Association and by-laws of the proposed society. It consists of all the rules and regulations in relation to the registration and operation of the Society.

• STEP4: Submitting Documents

At last, you just need to submit the MoA (Memorandum of Association), documents regarding the rules and regulations of an NGO, and other registration documents.

You have to submit all these documents with the registrar of the state, where the proposed NGO will be operating.

What is the process of NGO registration in the form of section 8 company?

Below are the steps to be followed for the NGO registration in the form of section 8 company registration–

• STEP1: Obtaining the Digital signatures

The first step is to obtain the digital signatures for all the proposed directors of the company. These digital signatures will be required to sign the application of incorporation and few other related documents.

• STEP2: Naming the Section 8 Company

There is a RUN service available on the MCA portal, which you can use for the name approval of the NGO. You will be allowed to propose 2 names for the proposed Company.

• STEP3: SPICE form

This is the main step under which incorporation application is filed in SPICE form along with the necessary documents like MoA (Memorandum of Association), AoA (Article of Association) of the company. If the proposed directors of the company do not posses DIN then they can directly apply for DIN (Director Identification Number) through SPICE form.

• STEP4: Form INC-12

You need to submit an online application in Form INC-12 to the respective ROC to get the license issued.

• STEP5: Formation of an NGO

After the proper inspection of the application of registration by ROC, License will be issued; along with the Company’s PAN&TAN number.

Hope you have a clearer picture regarding the NGO formation in India.

For more information please contact Enterslice.

Source url – https://enterslice.site123.me/blog/what-are-the-options-for-ngo-registration

Detailed procedure of getting the import export license

Have you ever heard people talking about import export business? I heard few talking about their import export business the other day, they were discussing few insights, I never knew. It stuck to my mind, there would be so many people like me, who must be unaware of the details of this kind of business and I decided to write this blog to educate you regarding the same business.

Further, we will discuss the detailed procedure of getting the import export license.

Online registration process of getting import export license

There is an online application available that needs to be filed with the Directorate General of Foreign Trade (DGFT). It takes around 15 to 20 days to issue the import export code by DGFT.

Let’s a take a look at the steps need to be followed to get the import export code in India.

• STEP1: Filling an application form

The first step is to fill an application form in the specifies format (Aayat Niryaat form no. 2A) and file it with the Regional office of DGTF

• STEP2- Attaching the documents

The second step is to provide the documents such as address proof, identity proof, bank details along with a certificate in respect of ANF2A.

• STEP3- Signing of application and submitting the fees

When you are done with filling the application of import export code, you need to digitally sign the application and finally submit it to the DGFT along with the prescribed import export license fees.

• STEP4- Certificate of IEC

After the approval of your application of IEC code, you will receive a soft copy of IEC code from the government.

Let’s talk about the list of documents required for filing the application of IEC.

List of documents required for the IEC Code Online

Below the list of documents for getting the IEC code online-

1. You need to submit the copy of PAN card
2. You have to provide the copy of Aadhar card, or passport or voter ID
3. A cancel cheque copy of the current bank account
4. A copy of rent agreement or electricity bill of the business premise

If you are looking to get IEC registration for your import export business, do contact Enterslice. We have a team of professionals who has helped a number of clients in the past.

Source url – https://enterslice.odoo.com/detailed-procedure-of-getting-the-import-export-license

Why Business Plan is so important for your business?

Have you ever owned a business, company or an organization, or are closely related to any of these in the past. If yes then you must be aware of the number of activities going around to make the business successful. It requires a lot of planning, decision makings, and other relevant steps.

Are you aware of the fact that, now a day any start up needs a proper business plan to work in the future to make profits. There are business consultants who are specifically dedicated to sketching out the business plan, in accordance with the needs and requirement of the company.

Further, in this blog, we will discuss the key features of any business plan,

What are the highlights of any business pan?

Any business plan must consist the following features-

• Executive summary.
• Business model.
• Marketing strategies.
• Competitive analysis.
• Technology & product plan.
• Operations and management plan.
• Revenue plan.
• Financial Projections.
• Business Valuations.
• Investment offerings.

At what point of time the business plan is required?

There are few reasons behind hiring a business plan consultant for your company, if you are looking to make a business plan for your company, then you must know why and when the business plan and business plan consultant is required?

• Business plan consultant is required at the beginning of every financial year.
• For better growth of your business, you need to forecast your business plan annually, quarterly or even monthly at the beginning of the new fiscal period.
• Whenever you are looking to get the funding, either SEED/ Venture funding, you need to have a business plan
• To cope with the market change, avoid the future hindrances in the business management
• At the time of launching the new product, developing a new product, technology, service etc
• If there is a change in the management at the top or middle level

These were all the basics of the business plan. Hope you have a better knowledge of the business plan requirement.

For any query regarding this, please contact Enterslice.

Source url – https://enterslice.site123.me/blog/why-business-plan-is-so-important-for-your-business

 

 

Explain in detail NGO registration types in India

You must have seen the ads or heard about NGOs in India. NGO basically stands for Non-profit organizations. The purpose of setting up an NGO is to promote and support the underprivileged section of the societies which include issues such as social, cultural, legal, environment, art, science etc. These NGOs are operated on a voluntary basis by the citizens, with no interference from the side of the state or central government.

Further, we will discuss the NGO registration types in India, how to register them etc.

Different modes of NGO registration in India

All the NGOs we see are registered under different acts and follow the rules and regulations accordingly.

There are three modes of registering the NGO in India-

• NGO registration in the form of trust (Regulated by The Indian Trusts Act, 1882)
• NGO registration in the form Society (Regulated by the Society Registration Act, 1860)
• NGO registration in the form of Section 8 Company (Regulated by the Companies Act, 2013)

Let’s take a look at the different NGO registration process one by one.

How do we register the NGO as a Trust?

For trust registration in India, you need to follow the steps mentioned below-

STEP1- Choosing a name

The first step is to choose the name for an NGO

STEP2- Deciding settlor, trustees etc

The second step is to determine the settlor, at least 2 trustees and clearly mentioning the beneficiaries

STEP3- MOA, by laws, trust deed

You need to draft a MOA, by laws and execute the proper trust deed, specifying all the key provisions and clauses.

STEP4- signing the deed

The trust deed must be signed by all the trustees and settlor. And it must be registered with the local registrar of the area, where the office is located.

How do we register the NGO as a Society?

 

If you want to register your NGO in the form of Society, then you have to follow the below mentioned steps for society registration –

STEP1- Choosing a Name

The initial step is to come up with an apt name for your NGO

STEP2-Governing body

The second step is to decide upon the governing body of the proposed trust

STEP3-MOA, by-laws

In this step, you need to draft the MOA (memorandum of association) and by-laws of the proposed society, specifying all the rules and regulations regarding the operation of NGO.

STEP4-Submission of documents

Once you are done with the preparation of the documents, you have to submit these forms with the registrar of the society of state, where the NGO will be functioning.

How do we register the NGO as Section 8 Company?

 

Forming an NGO in the form of section 8 company requires you to follow a really simple procedure. Below is the step by step process of section 8 Company registration–

STEP1- Digital signatures

You need to obtain the digital signatures for all the proposed signatories. As these will be required to sign the application of NGO registration and other forms as well

STEP2- Choosing a name

For this, you can propose two names that must not resemble any of the already existing registered names. There is a RUN service available on the web portal of MCA, which can be used for this.

STEP2- SPICE form

The second step is to draft the AOA (Article of Association), MOA (Memorandum of association) and other required declarations.

Along with this, you need to file the INC12 form with ROC for the issuance of the license.

STEP3- Certificate of Incorporation

Once you have submitted the application of registration, it will be thoroughly inspected by the authority. And the certification of Incorporation will be issued on approval.

Source url – https://enterslice.site123.me/blog/explain-in-detail-ngo-registration-types-in-india

Description of Tax audit limit and due date

Have you ever heard about the term audit or tax audit? Who does this work tax audits? Take a deep breath we will answer all your questions one by one. It basically involves the verification of the accounts maintained by the assessee. Auditors validate the Income the tax computation and compliance with the laws of income tax. A certified chartered accountant carries out the auditing of accounts.

Further, we will discuss the tax audit limit, audit due date etc.

What do you understand by tax audit limit?

There are certain tax audit procedures and tax audit limit, whose provisions are mentioned under the section 44AD of the Income Tax. Let’s take a look at what are the limits and basically who all have to undergo Tax Audits.

In accordance with the Section 44AB, a tax audit is required by the business entities, working professionals, and person who are already enrolled under the Presumptive Taxation Scheme.

In the case of Business

If you operate a business in India, and your total turnover sales or gross receipts are more than Rs. 1 crore in any of the previous year, then there would be a requirement of Tax Audit.

In accordance with section 2(3), business is defined as any trade, commerce, manufacturing activity or any adventure or concern in the nature of trade, commerce, and manufacture.

In the case of a Profession

If you are a working professional and your gross receipts in that profession are more than Rs. 50 lakhs in any of the previous year, then there would be a tax audit.

If you are wondering, what all professions are involved in this, there is a list mentioned below-

1. Engineer
2. Legal Professionals-Advocate or lawyer
3. Technical consultant
4. Accountant
5. Technical Consultant
6. Medical Professionals-Doctor, Physiotherapist etc
7. Architect
8. Authorized Representative
9. Interior Decorator

In the case of the Presumptive Taxation Scheme

There is a presumptive taxation scheme available under section 44AD, if you are enrolled under this scheme or the annual turnover or sales exceeds Rs. 2 crore then there would be a requirement of a tax audit.

You have to obtain the tax audit report if you are already enrolled under the presumptive taxation scheme (Even if the profits made by you, are lower than the mentioned amount under the presumptive taxation scheme).

Hope you have an idea by now, regarding who has to obtain the tax audit reports and what are their limits.

Have you taken a note of next due date of tax audit reports?

The tax audit due date for 2019 has not been announced yet by the Income-tax department. But still, just to give an idea; for the year of 2018, the tax audit due date was 30^th September.

Keep yourself audit ready beforehand.

For more information, please contact Enterslice.

Source url – https://enterslice.site123.me/blog/description-of-tax-audit-limit-and-due-date

What is SSI Registration Process?

If you have a business or an enterprise, you must have heard, recommended by someone regarding the MSME/SSI registration. MSME is known as the Micro, Small, and Medium Enterprises.

There MSMEs are regulated by the MSMED Act. MSME/SSI registration process is not mandatory. However, it is always advisable to have the certificate of MSME registration for your business so that you could avail the benefits provided under the various schemes launched by the government for MSMEs.

Further, in this article, we will discuss the MSME/SSI registration process, documents required for the MSME registration etc.

Process of online SSI registration

There are certain steps that need to be followed for the SSI registration, however, it can be canceled at any time when your business turnover crosses the limit prescribed by the government.

Let’s take a look at the steps to follow for the MSME registration-

• In accordance with the rules and regulations under the MSMED Act, you need to fill an online application with the respective department.
• Applicants have to provide the details of the business they want to operate and submit all the necessary documents.
• Applicant’s Aadhar number
• Few basic details of an applicant such as name, gender, PAN number, email ID and mobile number
• Few basic details regarding the enterprise, such as PAN, the location of setting up a plant, the address of the business place, date of starting the business, number of employees involved in the business.
• Bank Account Number and IFSC code
• The Basic activity of the business/enterprise
• NIC 2 digit code
• Details of the investment made in the plant & machinery/ Equipment

It takes around 2-3 working days for the complete documentation of MSME registration.

Let’s take a look at the documents for the MSME registration.

List of Documents required for the MSME/SSI Registration

If you are looking to register your own MSME in India, then you must keep in mind to collect all these documents at the time filing the application of MSME registration-

• PAN card of the proprietor/ all the partners/ all the directors
• Aadhar card of the proprietor/ all the partners/ all the directors
• You need to submit the ownership proof of the business premises such as allotment letter/ possession letter/ lease agreement/ property tax receipt.
• In the case of the rented premise, you have to submit the rent agreement and no objection certificate (NOC) from the landlord and attach the utility bills to it.
• Copy of sale bill of each end product
• Copy of purchase bill of each raw material purchased
• Copy of partnership deed, if you have a partnership firm
• You have to draft a Memorandum of Association, certificate of Incorporation, board’s resolution (In case of a private limited company)
• Copy of Industrial License, obtained under the Industrial Development and Regulation Act, 1951
• You need to submit an affidavit on Rs. 10 non-judicial stamp paper that has to be duly attested by the Notary Public affixed. It must mention the status of the machinery installed, power requirement etc.
• Purchase bill of the machinery installed
• Bills of all the plants and machinery purchased and their installation
• Bank Account Statement

This is the MSME registration procedure in India and list of documents required for the registration of MSMEs.

For any query do contact Enterslice.

Source url – https://enterslice.site123.me/blog/what-is-ssi-registration-process