Blog – Wazzeer

30 Mar

Financial Year End Compliance For LLP

0 CommentsAudit, ITR, Annual Filings

"Annual Declaration" means a declaration required to be lodged by a Limited Liability Partnership (LLP) under section 68 of LLP Act. Annual returns statement contains of the book of accounts accompanied by documents as required in the declaration. Given that the dates are getting closer, we have written this blog to guide you LLPs with the annual returns filing. Conditions For Compulsory Auditing Of Accounts What is this? Well, LLPs, if records a turnover exceeding INR 40L or whose contribution exceeds INR 20L need to get their accounts audited. How should it be done? LLPs are required to follow these…

29 Mar

How To Identify If An Agreement Is Void?

0 CommentsContracts and corporate legal

Let me give you a real-life example that inspired me to write on this topic, A is a vendor of B and agrees to sell to B thousand pieces of carton boxes every month for B’s logistic service. There were no specifications of the carton boxes in this contract. This agreement is a void one. B had to send series legal notices to B for quality deterioration, but B couldn’t win the case since the agreement was void. In this blog, we will quickly look into different scenarios under which an agreement is considered not a void one, and is…

29 Mar

Top Tax Havens Of The World

0 CommentsAudit, ITR, Annual Filings

Tax havens are defined as countries that provide foreign investors with low or zero tax rates and attractive regulatory policies. They are typically small, and often not the final destination of foreign direct investment. Instead, they tend to serve as conduits for investment in foreign subsidiaries located in other countries. Tax havens have often been viewed as providing bank secrecy and thereby allowing tax evasion to occur. In this blog, we will look into the Top 9 Tax Havens in the world that opens up an opportunity for Indian entrepreneurs to incorporate business and save on taxes. PS: You can’t…

28 Mar

Register Business In Estonia And Operate From Anywhere In The World – Know How

0 CommentsBusiness Incorporation

Estonia’s business regulation is very flexible, in fact, some call it as the perfect solution for entrepreneurship, for reasons like a flat income tax and no annual corporate tax. The country has been capturing Indian entrepreneur’s attention for its low starting-up and running costs. Recently, we at Wazzeer have notices this pattern – startups working in futuristic areas such as Bitcoins, Internet of Things (IOT), Privatization of Outer Space, Drones, Robotics, Virtual Reality, Med-Tech and Medical Devices, and Nanotechnology are considering incorporating parent company in Estonia and thereafter operate from their desired countries. In this blog, we will be looking…

27 Mar

Top 8 Things To Help You Verify The Legality Of Employment Bonds

0 CommentsFunding compliacnes, ESOP

Employment training bond is an agreement entered by the employee and the employer stating that the employee is required to serve the agreed period, and there are restrictive covenants that subject the employee to pay a said amount for any loss incurred due to voluntary resignation. Well, that’s the brief part of the scenario. Majority of the employable population in India go with a feeling that the agreement is legally valid, and alarmingly employers take a downloadable copy of the agreement from online without any knowledge of the legal validity. The Indian Contract Act, 1872 and various judgments made by…

17 Feb

Different Sources Of Funding For Startups In 2023

0 CommentsBusiness

At different stages of startup lifecycle, namely - startup and early-stage development, growth and expansion, and maturity, the requirement for funds inevitably comes up. As the meeting of such requirements comes to the mind, entrepreneurs tend to consider various options for sourcing funds. In this blog, we will be looking into such sources for raising funds from. Seed Capital And Early Stage Funding Stage: Seed funding when the business is pre-revenue and it may still be developing an MVP. This funding is used by the startup to: cover the initial costs of starting, to invest on the R&D and to…

27 Sep

A Complete Guide For Setting Up A Company In India For NRI And Foreign Citizens

0 CommentsBusinessBusiness

Starting a business in India as a foreigner or NRI is getting easier day by day due to the new government policies of Foreign Direct Investment (FDI), Simple procedures of incorporation, and other requirements. In this article, we are going to give a complete step-by-step procedure of setting up a company in India for foreigners and NRI’s. Individuals (Foreigners and NRI’s) who want to start a business in India. Can do it by following the below steps of setting up a company India. Incorporation Filing for FC-GPR Getting the Required Licenses and Registrations 1. Incorporation Company Incorporation is the first…

05 Nov

Everything You Need To Know About FLA (Foreign Liabilities And Assets) Reporting

Business

The Annual return on foreign liabilities and assets (FLA) needs to be submitted by all the entities which have received FDI or made an investment overseas in current and previous year(s). Content Everything you need to know about FLA What Is FLA Annual Return? Who Needs To File FLA Annual Return? How And When To File FLA Annual Returns? What Happens If Companies Do Not File FLA Returns? Which Companies Are Exempted From Filing FLA RETURN? 1. What Is FLA Annual Return? FLA annual return is one of the compliances that have to be met by the companies/LLP’s that are…