Legal Aspects of Business

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Every entrepreneur is required to take care of various legal aspects while setting up a business entity. Every form of organization is required to register itself with the respective local authorities, understand the prevailing labour laws and regulations, take care of the taxation system and the environmental aspects. These aspects are described below:

Business Unit Registration

Each and every business is required to register itself for the purpose of maintaining statistics and also keep an account of similar units to provide related support service and incentives.

Objectives Of Business Unit Registration

• For enumerating and maintaining a list of small scale units to which the package of incentives and support must be provided.
• For providing a certificate which further helps the units to avail statutory benefits.
• For maintaining statistics of these units.
• For creating nodal agencies at Centre, State and District level.

• Income Tax
• Service Tax