Statutory Compliances in India

Statutory compliance checklist ensures adhering to the laws or regulations related to a particular business as prescribed by government bodies. Statutory compliance protects the interests of a firm and its employees. Companies that are not following company-related statutory compliances face the risk of legal or penal action.

INTRODUCTION

A startup is faced with a number of issues to become a successful organization. The first and foremost thing is to do Planning. Planning includes following the most effective business strategy for the company, regulatory rules and regulations and legal issues.

Licenses are integral to running any business. Depending on the nature and size of business, several licenses are applicable in India. Knowing the applicable licenses for your startup and obtaining them and following all the statutory compliances is always the best way to start a business.

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