Formalities and Legal Requirments
What are the Compliances and/or Legal Requirments to be performed while starting a business in Karnataka?
(Profit making Moto)
Case 1 - Proprietorship
Case 2 - Partnership
Case 3 - Company
There are many requirements to be followed depending on Sale or Volume of Turnover, Products in which you are going to deal with, No. of Employees, Manufacturer or Trader etc.
To discuss with this we have to write one general Article and then we can discuss in the Forum
Different taxes are applicable to different kind of businesses. Here is an article about different kinds of business structure/organisation.
You can also refer to discussion about different taxes applicable.
Again a general discussion on Different kind of taxes applicable in India.
This Article is very nice and explains about various categories of Business and general understanding of it. In Case of Proprietorship (KARNATAKA) - - Registration under Shop, Establishment Act for either Sale of Service or Sale of Products - Registration under VAT for Sale of Product - Registration under Service Tax for Sale of Services, (If, T/O > 9 Lac) - Registration as Employer under Professional Tax - If employees are getting salary more than 10,000 PT shall be deducted and one need to register - If Trading no registration under Excise but if manufacturing registration under Excise Act (T/O 1.50 Cr) - Selling Abroad then need to take IEC Code etc.