Want to start a NGO? Get everything you need to know about it!

What Is The Basic Concept of NGO?

The Non-Government Organization (NGO) is a type of corporate entity which is a non-profitable or in other words a charitable organization. These NGOs work for the development and welfare of the society and not in the personal interest of the founder of the organization. These organizations can be registered in any of the following schemes in India:

v  They can be registered as Trust, under the Trusts Act, 1882.

v  They can be registered as Society, under the Societies Registration Act, 1860.

v  They can be registered as Section 8 company, under the Companies Act, 2013.

What Are The Roles and Responsibility of an NGO Organization?

The reason behind establishing any NGO is the betterment and upliftment of society from the one social cause which is not letting the society develop and grow with the current world of globalization and modernization. They work for non-profitable objectives that could be related to art, culture, trade, education, religion, environment protection, sports or any welfare program of society.

The point to keep in mind is that even if any profit is generated from the organization even that is put for the welfare cause and not in personal interest. The registration of a corporate entity requires a minimum number of two directors in case of private limited and minimum of three for public limited companies.

Avail the Advantages of NGO Registration

v  The first and foremost importance of NGO Registration is that it works in a local area and from grass root level focussing on the realities of the situation and people. So the progress can be monitored easily.

v  The concept of establishing an NGO is cheaper than corporate entities. It is easy for an NGO to raise funds in the name of charity and welfare of society.

v  They provide better communication as they have trained staffs for the people who connect with them at all levels and bring out the real scenario.

v  They have creative people who bring the innovative ideas towards any problem situation or community and address and find a solution accordingly.

v  They help improve the standards of living and help educate the people and broaden their horizons.

Follow the NGO Registration Process as a Section 8 Company with The Help Of Experts

v  The primary step is to obtain the Digital Signature Certificate (DSC) for all the corporate entities. They are to be issued by the government recognized certifying agencies only. The DSC can be obtained from different agencies but you must obtain either a class 2 or class 3 category of DSC. In the Class 2 category, the verification of the identity of the person is verified through a pre-verified database however in class 3 category the person has to be present himself for verification.

v  The next step is to apply for the Director Identification Number, all the directors of the organization must have the DIN. These can be obtained from the MCA portal. You need to duly fill all the required forms and get it attested by a practising professional who could be a chartered accountant or secretary of the company or cost accountant.

v  If the Registrar is satisfied by the details furnished above and all the relevant proofs of documents have been submitted along with the fees for NGO/Trust registration and other forms he will issue the company a certificate of Incorporation and that certificate will have a unique Company Identification Number (CIN).

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TDS return e–filing in India

So in this article, we will guide you with the step-by-step instructions in order to do your online TDS return e-filing get done.

 Follow the steps below: -

1)                 First of all, log on to the TRACES with your details in order to e-file your TDS return.

2)                 Now click on the tab that gives the option of “register for e-filing”. You shall see this option on the left of the corner of the TRACES window page.

3)                 Now this will take us next to the filing portal of the income tax department where it will ask you for registering. This will be referred as a tax deductor or a collector. And your TAN will be your default user id.

4)                 You will then be required to create a password, giving the details of the authorized person like their designation and their mobile number and the email id and similar other basic details of your organization, like the address, landline number, and the fax number etc. After you have filled all the asked information, click on the submit option after you type in the showed captcha image.

5)                 Next, log on to the e-filing portal of the income tax department by using a PAN as password and the date of the incorporation if it’s organization or date of birth of the one, filing for the TDS return. And then wait for the approval of the TAN Registration.

6)                 After you get it approved, a link will be received onto your email address that you have previously used in the form while a PIN will be sent on your registered mobile number.

7)                 Click on that link and then put in the PIN that you received on the mobile number and then submit. This shall complete your registration process of the TDS e-filing.

An important point to be noted is that all the above mentioned process is for when you have never registered as a tax deductor or the tax collector.

How to Get Registration of DSC or Digital Signature?

1)                 Now download the digital signature management utility and after that go to the registrar or reset password tab.

2)                 Now you fill in your TAN for your organization and your PAN if you are the DSC holder. After this select the type of DSC you are using. For example “.pfx” or the USB token type. After selecting, generate the signature file and save it.

3)                 Now log in to the e-filing portal through the created id and then go to the profile setting, and then register for DSC. Once you upload the DSC file, submit it and here your DSC Registration will be completed for TDS return e-filing.

Note, that the DSC Registration is needed only once.

What is The Procedure for e- Filing Of TDS Return?

1)                 Start with the input of TDS return filing details in the software or in the return preparation utility and the process it.

2)                 Now select an option for the uploading of the TDS return for e-filing to the e-filing portal of the income tax department. This shall then generate a ZIP file for you of your processed TDS return. Save it.

3)                 Go to the DSC management utility and select the bulk upload for the option. Attach your ZIP file to this and then put your TAN and PAN. Next, pick the DSC option which will be either “.pfx” or the USB token file. Then just select your DSC certificate and then generate a DSC file and then save it.

4)                 Again log on to the income tax department portal your tax deductor or the collector id and then select the tab saying “upload TDS return”  give all the required details and then click on the submit button.

5)                 Finally, after all this, A token number will be generated that can be checked from the option saying “view filed a return” on the website of e-filing. And here your TDS return e-filing process is complete.

In case if you need the help of professionals then you must get in touch with Enterslice experts anytime so that we can help you with best possible solutions immediately. All you have to do is to email us or call us through the phone number.

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What to avoid in an investors pitch deck?

An Investors Pitch Deck is a brief presentation created to provide a brief overview of the business plans and strategies to potential investors, partners or customers. These are especially of help to the startups, professionals and corporations who are interested in financial aid from external sources in form of investments.

The key feature of an Investors Pitch Deck is its uniqueness. What sets this pitch apart from the others which the investor is considering? How does the pitch excel in convincing the investor? Does the pitch fall on the same length as the investor’s ideas?

There are many guidelines that are provided for what must be included in an Investor’s Pitch Deckbut what are the points that must be avoided in a pitch at all cost? Let us look at some pointers which will help you break the monotonous streak of Investors Pitch Deck without compromising on your vision:

1.       Most important is not to make the Investors Pitch Deck too long? The powerpoint presentation should not be more than 25-30 slides, and in no way exceeding 35, after which the investor shall start losing his attention and interest. 

2.       Avoid a text rich presentation. The Investor Pitch Deck must be more communicative and only an aid toyour words. The visuals keep the audience engaged and the interaction feels more personal. Avoid long words, sentences, and paragraphs, but do not overdo on the images. Keep it crisp.

3.       Don’t be repetitive. Praising your product in every slide shall give the impression that you are not confident in your strategies.

4.       The Investor Pitch Deck must not waste time on irrelevant or flattery information. Any information that has no direct relevance to your product, business plans and the investment must be removed.

5.       Too many numbers can be toxic. The key financial data to be presented in the Investors Pitch Deck can be presented in form of graphs or pie charts with a summary so that the numbers do not kill the attention of the audience.

6.       In an attempt to impress the investors, one may exaggerate the figures- big mistake. Do not take your investors for being fools. They have their own experts to verify the facts and data being supplied. Keep it simple and keep it correct.

7.       The Investors Pitch Deck does not require mentioning every single detail or development of the product; it is not a progress report. Present the big picture with the important details which shall showcase your confidence in your product.

8.       Before an Investor’s Pitch Deck is prepared, one must have clarity about the product, expansion strategies and business plans. Lack of clarity helps to elaborate on the central idea with precision.

9.       Dedicate few slides to marketing yourself as an asset to the investor. Be subtle and don’t glorify yourself. Instead, make the investor feel that investment in your product must become his priority. Give him something to think for next few days.

10.   Do not present unrealistic goals. Keep your approach, methodand plans pragmatic and workable.

11.   Keep your Investors Pitch Deck grammatically correct and scan the pitch to avoid spelling mistakes.

12.   Do not copy your pitch from any sources. Take inspiration but be original. Tailor your Investor’s Pitch Deck for your product, need, and your investors. 

13.   And at all cost avoid following, they have no place in an Investors Pitch Deck:

a.      Your or anyone’s philosophical phrases;

b.      Pep talk;

c.       Slangs;

d.      Industry abbreviations and jargon;

e.      Pessimistic and negative statements;

f.        Contradicting information;

g.      Foreign language words, phrases, even if they are popular.

By considering the above suggestions, you can improve the quality of your Investors Pitch Deck and take it up a notch. It should be noted that a pitch manifestsyour hard work and belief in your product.

Source url - https://enterslice1.weebly.com/blog/what-to-avoid-in-an-investors-pitch-deck

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Elements of Consulting Agreement & its Relevance

Consulting Agreement

Sometimes in place of hiring in house experts on various areas of operation organizations plan to hire consultants with expert knowledge and expertise in particular fields for a set period of time or for any particular task. These consultants can either be individuals or organizations. The agreement executed between the organization and consultants defining the rights and obligations of both such parties is known as Consultancy Agreement.

Benefits of a Consulting Agreement

Now, that we are clear to the meaning of consulting agreement let us try and understand the requirement of such writer agreement from a business perspective. Following are the benefits of a consultancy agreement:

·         It’s the best choice if the requirement is not of regular nature i.e. it is an event based requirement or only for limited period of time. In such a case it is better not to hire a full time in house expert but an individual expert for the same.

·         If the requirement is for critical analysis and expert opinion then hiring a consultant is a wise decision. They are experts and have better understanding of the market and economy. Thus they can provide better guidance and extensive reports based on the requirements.

·         The work of consultants in unbiased and thus provides better results and solutions to critical business issues.

·         Another major benefit is flexibility in business practice. They provide custom made solutions to their clients and if the services are not satisfactory, one can switch the consultants.

·         Lastly, hiring a consultant is a cost effective solution. If a permanent employee is hired then it will incur a regular cost in the form of salary.

Elements of Consultancy Agreement

While executing a consulting agreement some key factors must be kept in mind. Following elements must be included in a consultancy agreement to make it more efficient and effective:

1.     Description of Parties

In the beginning of the contract complete details of both the parties must be mentioned in the. Details like name address and authorized representatives shall form part of it.

2.     Date of Execution

The effective date of the contact stating the start of their work relationship must be clearly mentioned. The period of the contract is calculated from this date onward.

3.     Term of Contract

Along with the effective start date the agreement shall also mention the duration of contract. Or in case the contract is event based that shall also form part of it.

4.     Details of Services

The contract must include details of the nature of services the consultant will be providing. This will help eradicate any kind of ambiguity.

5.     Payment Information

The agreement shall clearly mention the payment related details like amount of payment, time and mode of payment.

6.     Restriction and Non-disclosure Clause

Because of the nature of work, the consultant has access to confidential information, thus the contract shall also include non-disclosure clause and restrict them from sharing such information from third party.

7.     Rights to Intellectual Property

The agreement shall clearly define the ownership details for any kind of intellectual property created during the course of the business.

8.     Liability Clause

In case of any kind of loss to either of the parties, the liability and indemnity clause shall form part of it. Such loss can be due to defective products, untimely or delayed results etc.

9.     Termination Clause

This clause shall state the conditions which will result in termination of the contract.

10.                       Signing

To make the agreement valid and enforceable in the eyes of law, it must duly dated and signed by all the parties to the contract.

Source url - https://enterslice1.weebly.com/blog/elements-of-consulting-agreement-its-relevance

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All about Investment Term Sheet for Startups

A non binding agreement consisting terms & conditions for the investment is known as Investment Term Sheet. An Investment Term Sheet is a non binding document except clauses related to confidentiality and governing law. It is a type of principle agreement which consist valuation. It mainly consist discussions on which parties have agreed informally. After preparation of terms sheet, a due diligence process shall be carried out. Eventually parties will sign the agreement. No contractual obligation has been created by the term sheet on investor to make investment and on the company as well as to issue shares to the investor. Under this, details of the investors are given, valuation of the company, and the amount of investment.

Every type of investment requires proper negotiations for which such type of document is required.  Investment Term Sheet is a non binding document under which terms & conditions are defined which are mutually agreed between the parties in relation to investment. Terms sheet is a non binding document thus do not have legal value and it cannot be enforced. It is drafted in a manner that no misunderstanding will occur in future. It will be treated as a reference document for drafting of legally binding contract.

Now let’s understand some of the features of term sheet.

1.      Ample time is there for parties for better negotiations.

2.      It helps in eliminating the possibility of misunderstanding among the parties involved.

3.      It gives the clear description of the major aspects of the deal.

4.      It helps in removing the possibility of unnecessary disputes between the parties.

5.      A term sheet helps in ensuring that the expenses of legal charges which are involved under the drafting of legally binding contract have not incurred in the initial stage.

6.      It enables the parties to focus on business issues involved in transaction at the initial stage.

7.      In long run of the company it is always beneficial to invest time and resource in drafting term sheet for the company.

Elements of Term Sheet

1.      Details of the investor and the entity under which the investment is being made shall be mentioned under term sheet.

2.      Details of the mode of investment and the time period as decided.

3.      Details of Voting Right of parties

4.      Maintain proportionate ownership

5.      Draft Share purchase agreement, if required.

6.      Warranties & Representations,

7.      Terms related to Non-Competition & Non-Disclosure,

8.      Other Provisions

Above mentioned terms may be included in terms sheet as per requirement of transaction as well as on the basis of requirement of the parties.

Things to be considered by the parties in term sheet

An investment term sheet gives a base to future formation of legally binding agreements. At the time of making term sheet each & every clause and required provisions must be carefully analyzed, and proper discussion and negotiation should take place while preparing this. Every aspect and future impact should be considered while making.

While making investment terms sheet and during negotiations, professionals may be hired or consulted for experience outlook and also for unbiased approach. By this, an unambiguous and exhaustive document can be made.   You can contact us for the preparation of Investment term sheet as we have a team of professionals and we can assist you accordingly.

Source url - http://enterslice.over-blog.com/2018/08/all-about-investment-term-sheet-for-startups.html

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