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5 points all entrepreneurs should remember while filing taxes

2017-08-02 16:49:30 | Legal Services
In case a business has incurred the losses, it then becomes more important and beneficial in order to timely file the tax returns.



An important task for every entrepreneur is thus in order to take charge of his/her finances. And when it thus comes to finances, handling of the taxes can become a big issue. From running to the chartered accountant’s office for the purpose of going through the old records, entrepreneurs thus are supposed to do it all. But, in order to make it easier, here’s a quick checklist that every business owner should thus go through while filing the taxes.



The purpose of this article is to make the reader aware of the 5 points which every entrepreneur should remember while filing the taxes .



The following are the points :-



Maintaining the Books Of Accounts
It’s thus very important for an entrepreneur in order to maintain a detailed company book and then keep an accurate record of the company’s financial history. These days, most of the banks and the financial institutions generally refer to the Income Tax Returns record before they thus sanction any kind of a loan or a credit. One should thus seek the professionals help early in order to ensure compliance.



How To Address Business Losses?
When an entrepreneur starts his/her journey, he/she faces many kind of challenges. And usually, in the first year of their entrepreneurial venture every business generally results in generating the losses. That’s thus totally normal. In case the business has thus incurred losses, it’s however more important and also beneficial in order to timely file the tax returns. Business losses are thus allowed in order to be carried forward for the eight assessment years and can also be set off against the business income.



Personal VS Official?
When one is are running his own company with a small team, often business and personal expenses generally get mixed. So, it is also advisable that an entrepreneur thus creates two different bank accounts right from the start. This thus helps in order to clearly distinguish between the expenses that one’s business can claim and the ones it thus cannot.



Preliminary Expenses
Before one sets up his business or either formally registers his company, one might thus incur a few expenses that however often go unaccounted for. It’s thus very important in order to keep a track of these expenditures, which are however called as preliminary expenses. Such expenses may thus be claimed as a deduction in the year the business is commenced. An entrepreneur should also maintain records of such kind of expenses and should also take advices from CA for claiming the same while they are filing ITR.



Bills Are also Important
Every individual who is however applying for assessment should thus keep its accounting records. This must be for a period of six years from the end of that specific year. An entrepreneur should also thus ensure that all the proofs and receipts of the transactions are thus preserved carefully. Details of the assets which are purchased, expenditure which s incurred, rent agreements and all the other documents must also be safely kept as well. All of these thus help at a later stage when the Assessing Officer (AO) asks for it.



However , the founders of LegalRaasta a startup which provides legal services have over powered these hurdles and have ended up in providing more than 100 + services. One doesn’t even have to go out , as it provides online services .

Choosing LegalRaasta is beneficial as:

It has , 30+ offices in India
It has 10+ years experience
It helps to save your time
There is a cash back guarantee
This article has been contributed by Simmi Setia, Content Writer at LegalRaasta, an online portal for Section 8 company registration, Nidhi company registration, IEC registration.


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5 challenges of being the first to market

2017-08-02 16:49:30 | Legal Services
Entrepreneurship however comes with a host of challenges. Rewarding the challenges, but the harsh challenges nonetheless. Experienced entrepreneurs are generally required to deal with this no matter how long they’ve been in business – for the purpose of trying to establish a brand, adjust in order to match or either exceed the competition and then keep the business profitable is however a challenge no matter how many years one has been in business.

But for the new and young entrepreneurs, there are however some unique challenges that are especially difficult in order to overcome. If one has just gotten into the game, or he’s thinking about becoming an entrepreneur, then one must be prepared for these 5 challenges which one would however have to face of being first to market .

The purpose of this article is to make the reader aware of the 5 challenges of being first in the market .

If one is building a product or a service people are familiar with, the biggest challenge is however competing for market share against the established giants. However, if one has a brand new idea, one would have taller obstacles in order to overcome: one will have to get the audience in order to make the audience understand his product, he must also see a need for it and then risk purchasing it, all while staying financially afloat.

Unearthing capital in order to survive the journey from the “unproven” to “proven” concept. With an unproven idea, one however still has a long road ahead and the potential for the purpose of needing more capital. One however has to be prepared for the series B equity, and in order to lay the groundwork for the series C funding as well as the build optional lines of credit from the white knight investors. It is however all about looking ahead while minding the current financial footing and also for establishing relationships with the strategic partners.

How does one sell a product or service which no one knows exists, often for the problems they don’t know they have?

How does one prove how good something is when there’s nothing to compare it to? Doctors however have only the recently used technology in order to manage the patient data. This thus makes it difficult in order to get specific comparisons on the ways , the new software is however having a positive impact on the patient care. However , when there are no previous statistics, it’s also hard in order to demonstrate the improved results. Independent studies also help, but so does building a core client base who will however discover and also share the benefits with the rest of the audience.

Pinpointing the fair market value is however essential. When you are the first company in order to offer something new, how do you decide however as to what it’s worth? If your product is however too expensive, it will thus be impossible in order to sell. If it’s however undervalued, one may wither in the financial valley of death. Finding a cost people are however willing in order to risk on an untested product while keeping the company alive is however considered as the biggest challenge.

The reward for your success is however a competitor which is thus coming out of the woodwork in order to crush you before you can gain scale. Once one has overcome the first four hurdles, then people would try in order to copy the successful startup and the niche market would however becomes mainstream. Larger companies will also attempt in order to figure out as to what makes you special, duplicate it, and then would scale it faster than you can. Not every pioneering company will however survive, but those who generally hold tight to their position and then the fight for growth can do incredible things.

If one can work his way past these major obstacles, then one will be well on his way for the purpose of establishing himself as an entrepreneur. That isn’t thus in order to say they won’t generally continue in order to nag at them as the years go on, or that new and also varied challenges won’t however arise in order to take their place, but one will however be prepared in order to handle himself in those most volatile and the impactful first few months -- and that would generally put him far ahead of the competition.

However , the founders of LegalRaasta a startup which provides legal services have over powered these hurdles and have ended up in providing more than 100 + services . One doesn’t even have to go out , as it provides online services .

Choosing LegalRaasta is beneficial as :

It has , 30+ offices in India
It has 10+ years experience
It helps to save your time
There is a cash back guarantee
This article has been contributed by Simmi Setia, Content Writer at LegalRaasta, an online portal for Section 8 company registration, Nidhi company registration, IEC registration.


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5 considerations when setting your M and A goals

2017-08-02 16:49:30 | Legal Services
As a business owner, one is however are always in search of how one can grow the business. One however wants to make more money and also in order to serve a larger customer base. The problem is thus identifying the best way in order to grow the business, and thus also doing so at a rapid pace.



Mergers and Acquisitions (M&A) are considered as a great way in order to grow business without however having to wait years for the marketing and also sales strategy in order to pay off. When one however needs immediate growth for the business, this can thus be the best option for one that thus provides the instant result. The primary goal of a company which is interested in a merger or acquisition is thus to secure an opportunity that will thus either achieve the objective of growth or to provide an area of expansion that will thus add to the product/service line in a market that is thus currently not served by the company. The motivation behind this pursuit is thus that the resulting combination of the products, key people, and the existing pipeline will however allow the business in order to operate in the new markets and also offer new options to their existing market.



Over time, merger or acquisition opportunities may however present themselves as a growth opportunity for the business. M&A can thus be very distracting to an early-stage business thus still trying in order to optimize their stand-alone business. Especially when things can however often go awry in the merging businesses, management teams and also employee cultures. But, assuming if one has done his homework on those fronts, and one is also comfortable in thus taking the leap into world of M&A, here are however five considerations when setting one is M&A goals for business.



What Does the M&A Target Bring You?
There are however many things which an M&A transaction can thus bring one : the customers, market segments, operating scale, revenues, cost savings, human talent, new products, capital, patents, and everything which one would name it. The key however is thus prioritizing as to what is the most important thing which one’s business needs in order to succeed, preferably something which one however cannot easily build on his own. If one however has the best product in the market, one would thus tend in order to stay away from the targets that thus only brings the customers or an additional market share, as thus those relationships can thus be secured through the strong sales and also the marketing efforts without having to dilute the equity owners. So, one must also focus on the transactions that will thus materially move one’s business to new heights, for the reasons beyond simply an additional market share.



Is the Transaction Accretive to Your Shareholders?
Also, one might thus either going to pay for the M&A transaction with cash (which may thus require raising the capital) or either with equity (issuing the additional shares in the company). In the either scenario, it is thus also most likely going to dilute the ownership of the current investors. One might just also want to make sure that the resulting business is thus going to be worth materially more together, than they however are apart, so that the current investors will thus actually have a higher a economic dollar value of stock, even if thus their stock ownership percentage is thus less.



Does 1 + 1 = 4?
In one scenario, where one thus merges two similar companies thus both selling into the same customers, one’s combined revenues will thus never be worth more than 1 + 1 = 2.

Does the Transaction Improve Your Competitive Position?
Maybe the two competitors are thus in an aggressive pricing battle, lowering their margins farther than they however need to. By however combining, they may thus be able to raise their prices and also the margins however as one company. Or, maybe a #2 and #3 player thus in the market thus combine, in order to create the new #1 player in the market. Or, thus as another example, maybe alone which one however has 50% dependence on one customer or an industry, and also thus combined with however another company one can thus also lower that dependence to 25%, making the business however perceived thus as less risky to the investors. One must thus also think through these advantages when one is however picking optimal transactions.



Are the Two Businesses Compatible With Each Other?
Mergers in the business are however very much like the marriages between two individuals. One thus also make sure that one dates a while, before one however combine forces. Also, one must also make sure the two businesses share one combined vision thus for their future. Also, one must make sure that the management teams thus gets along, personality fit wise. One is thus also supposed to make sure the two employee cultures will thus mesh well with each other. One must thus also do everything which one can however do in order to reduce the unwanted employee turnover in the wake of the transaction. If the businesses are thus however not compatible, move on.



Assuming that one however have good answers to the above questions, one is thus probably in a good position in order to proceed with the transaction. But if one however can't craft the right logic, or thus however any warning bells are thus also going off in the mind, it is thus the best in order to walk away. Too many things are thus also naturally going in order to go wrong post an M&A transaction. One also does not want to go into it with the known hurdles out of the gate, as it will thus most likely result in a big distraction and also disappointment for one and also for the shareholders. Before one gets started, one must be sure in order to read this post on thus the other potential M&A pitfalls to avoid.
This article has been contributed by Simmi Setia, Content Writer at LegalRaasta, an online portal for Section 8 company registration, Nidhi company registration, IEC registration.


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The 5 key characteristics that every entrepreneur should have

2017-08-02 16:49:30 | Legal Services
Despite of the fact that there is no "one size, fits all" theory for the entrepreneurship, a few guidelines may however help those with a good idea in order to become successful entrepreneurs. The following insights can however help you in order to embark on the next entrepreneurial venture with due diligence.

The purpose of this article is to make the reader aware of the key characterstics which every entrepreneur should have .

Anyone can start a business, and this is thus regardless of his or her age. Most of the entrepreneurs thus share these common characteristics:

A startup founder is however often driven by the quest for the deeper purpose which is however beyond the sheer mechanics of thus operating business. If one has passion for the startup, this will thus drive one in order to turn the idea into a reality. Without that missing spark, one will however lack the necessary motivation in order to put in all the early mornings and also late nights in order to get the business off the ground.
Entrepreneurs however are required to deal with the obstacles. A business generally does not get built overnight, and then also turning the idea into a reality will thus take time. One will however have to become accustomed to the people who are generally saying no to one . What generally makes the entrepreneurs great is however having the perseverance in order to grow regardless as to how many times they are required to shut down.
A vital ability for an entrepreneur is however knowing as to how to make the most of what one has . One’s assets as an entrepreneur will however be limited, so one is required to use them to the fullest. Tapping into a network is however the key.
Open-Mindedness.As an entrepreneur, one may also think that one has generally zeroed in on a business plan, but one will however need in order to learn to take in the opinions of others. Then if it generally appears that one would however won’t play work, then adjust. One however needs to concentrates his startup on every aspect of renting an off-campus space; it generally provides the tenant listings to the landlords and the facilitates for the purpose of making of the rent payments.
Understand Your Offering – And Its Market
Entrepreneurs generally know their product offering from both inside and out They thus also know the marketplace and also its dynamics inside and out. Remaining unaware of the changing market needs, competitor moves and the other external factors can however bring even great products to failure.



Money Management
It generally takes time in order to get the profitability for however any entrepreneurial venture. Till then, capital is however limited and it also needs to be utilized wisely. Successful entrepreneurs would generally realize this mandatory money management requirement and also the plan for the present and the future financial obligations (with some additional buffer). Even after securing a funding or either going fully operational, a successful businessman generally keeps a complete handle on the cash flows, as it is thus the most important aspect of any kind of business.

Planning (But not Over-planning)
Entrepreneurship is however also about building a business from the scratch while managing limited resources (including time, money and the personal relationships). It is thus a long-term commitment, and also attempting in order to plan as much as it is thus possible at the beginning is thus a noble impulse.

One must however do a feasibility analysis; identify the time and the capital thresholds; one must also take the deep dive with the limited resources. If one’s thresholds are however crossed, one must also look for the alternatives and one must also be prepared in order to take the next exit.

Thus at the end an entrepreneur must have one thing in mind which thus that instead of worrying about the fact of fitting the image of the perfect entrepreneur, one must thus check in with the gut.

Personal qualities and also their correct demonstration with the right stakeholders are thus the determining factors for the success or failure thus as an entrepreneur. A realistic self-assessment checklist against these suggested guidelines will also thus ensure one in order to take the right steps in the right direction for the purpose of succeeding.

However , the founders of LegalRaasta a startup which provides legal services have over powered these hurdles and have ended up in providing more than 100 + services . One doesn’t even have to go out , as it provides online services .

Choosing LegalRaasta is beneficial as :

It has , 30+ offices in India
It has 10+ years experience
It helps to save your time
There is a cash back guarantee
This article has been contributed by Simmi Setia, Content Writer at LegalRaasta, an online portal for Section 8 company registration, Nidhi company registration, IEC registration.


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5 Lessons Entrepreneurs Can Learn About Preparing for Crisis Communications

2017-08-02 16:49:21 | Legal Services
Ubiquitous cell phone cameras generally mean that every embarrassing mistake one or an employee makes is thus made in public.

In a time where one can however pretty much bank on a cell phone cameras by however capturing every moment, it is thus more important than ever for the brands in order to make smart decisions when it thus comes to delivering on the promises to their customers. Those who generally don’t keep this at the forefront of their public relations strategy will however feel the wrath of the YouTube generation.

The purpose of this article is to make the reader aware of the 5 lessons entrepreneurs can learn about preparing for the the crisis communications .



There’s thus a lot to be said about the crisis communication and the ways in which it could have better handled but at the forefront of this issue are the lessons where we can however integrate for moving forward. However , in another company’s misfortune, the savvy entrepreneurs thus always find a way in order to capitalize. The article below tells about a few things that an entrepreneur can learn about preparing for communication crisis :



Hope for the best, but then one must plan for the inevitable worst-case scenario.
No one however starts their company hoping that they’ll however end up on the front page in the worst possible light. But the brands that however end up successfully being out of the negative limelight have the plans which are in place for when a crisis does really happen.



Understanding the customers is thus the key to a successful business. Always.
There must be a shining alternative in which one has an advanced polling practice. Understanding the customers helps in order to avoid involuntary bumping for the customers, and it thus also helps in making good economic sense. This is however an entrepreneurial thinking.

Think digital.
Releasing of formal statements is thus the most obvious solution which is on the social media. The most common online activity, social media, has thus changed the way in which the people think, interact and then communicate -- and the entrepreneurs should also take note. It’s thus important in order to meet the customers where they are, and one must not talk down to them from a podium. This thus means engaging on the social media, posting to a company blog, sending an email to the loyal customers, and then coming up with the other creative responses that however make sense for the market and the brand.

Reputation management is worth the investment.
Whether or not one is paying attention, one’s online footprint cannot however be erased. simply by posting to major review sites. A small social media brushfire can however turn quickly into a raging reputation management inferno. Closely monitoring the online brand and then responding to and also interacting with the consumers consistently will thus build up the loyalty and the social capital in a way that can however counteract any kind of damage before it thus even happens.

There is thus a room for the growth in the transportation industry
An enterprising individual with a great idea for the purpose of solving these kind of problems through technology, updated systems, customer communication or thus another solution that however hasn’t been thought of yet, will thus have a captive audience.



Preparing for the crisis communication , the founders of LegalRaasta a startup which provides legal services have resulted in providing more than 100 + services. One doesn’t even have to go out , as it provides online services .

Choosing LegalRaasta is beneficial as:

It has , 30+ offices in India
It has 10+ years experience
It helps to save your time
There is a cash back guarantee
This article has been contributed by Simmi Setia, Content Writer at LegalRaasta, an online portal for Section 8 company registration, Nidhi company registration, IEC registration.


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