Structured Biiz

LICENSES / REGISTRATIONS

BASIC REGISTRATIONS

Digital Signatures

» Signature in an electronic format;
Issued by the Certifying Authorities;
» Used for MCA / IT Filing;
» Used for IEC / IPR Filing;
» Used for E-tenders;
» Class III DSC's required.

PAN

» Issued by the Indian Income Tax Department;
» Unique for all tax payers;
» Required for all tax filings;
» Required in case income exceeds amount chargeable to tax.

TAN

» Tax Deduction Account Number or Tax Collection Account Number;
» Required by persons responsible for deducting tax at source;
» Required by persons responsible for collecting tax at source.

MSME

» Also known as Udyog Aadhar;
Enterprises classified as Micro, Small and Medium Enterprises;
» Granted “Priority Sector” status;
» Eligible for definitive borrowings from Scheduled Banks at a preferred ROI.

Trademark

» Unique brand names represented graphically;
» Capable of distinguishing the goods or services;
» Protected through registration under Intellectual Property Rights law.

Profession Tax

» Levied on all kinds of employments, trades, businesses, professions, etc.
» Computed based on the income of an individual;
» Deductible from the taxable income earned by an individual.

SPECIFIC REGISTRATIONS

Start Up India

» Granted upto 10 years from the incorporation date;
» If turnover < Rs. 100 Crores;
» If entity is working towards innovation, development or improvement of products / services.

Import Export Code

» IEC Number is granted by the DGFT Department;
» Mandatory for import or export;
» Can be obtained by a proprietor, partnership firm, LLP, Company, Trust, HUF and Society.

Trade License

» Granted to commence a business or profession in a particular area or location;
» Industries license, Shop License and Food & Establishment License are the different categories of trade license.

FSSAI License

» Basic License - For business having turnover less than Rs. 12 lac p.a.;
» State License - Mandatory for the food business with annual turnover between Rs. 12 Lac and Rs. 20 Crore (Rs. 30 crores in some business) p.a.;
» Central License - Mandatory for the food business with annual turnover above Rs. 20 Crore.

EPF

» Mandatory for factory engaged in any industry having 20 or more persons;
» Employer & Employee’s contribution should be 12% of basic salary;
» Currently, EPF is reduced to 10% from 12% for non-government organisations.

ESIC

» Employees State Insurance Corporation Registration;
» Mandatory for factory having 20 or more employees in case of Maharashtra & Chandigarh State & 10 or more employees in case of other States of India;
» Such employees earn wages upto Rs. 21,000 per month.