START-UP’s & THEIR COMPLIANCES
Today we talk about start-ups and the mistakes they do which cause them a big trouble to expand their business and yes sometimes more serious than that, they have negative remark on their goodwill. Also, in the present scenario government has become more conscious and strict about following the Corporate Laws and every day a new rule/regulation is coming out. Those who are not following good corporate governance are facing serious trouble in running their business.
So, if you are a start-up then this article is very useful for you, have a look and save your entity from troubles.
When we go for a start-up, at conceiving stage we try to operate at break-even. In that struggle, we forget to look at the related Compliance which becomes a great trouble at later stage when the organizations are seeking for funding from investors for expansion & growth. Without Due Diligence & Process Audits, No investor will be convinced to make a move & hand over his funds to a startup.
Let us discuss the trouble areas of non-compliance which becomes a major prick of the path:-
Apart from the applicability of the some Special Acts and other Regulations, the above stated are some of the common mistakes done by the start-ups which become a trouble for them to get funding.So along with growing the business one should be conscious toward the compliances related to it which will give him a green reporting & an image of responsible corporate.
Some tips to save the start-up from Compliance Troubles:-
Some Don’ts for the Start-ups are:
Having some good advice and compliance schedule, one can have growing business and long term stability in the market. So, the Business buds! Be Compliance friendly and enjoy watching your business growing from a bud to a blossoming flower.
The author is a Company Secretary in Practice & can be reached at email@example.com
Do you think CBDT should extend Tax Audit Report and relevant ITR Due Date? Please Comment, Vote, Retweet and Like.— Tax Guru (@taxguru_in) September 18, 2018