E-startupBlog

  Any individual who is interested in starting a business in the food industry in India needs to obligatorily apply for an FSSAI licensing as per the FSSAI Regulation 2011. Depending on the type of company, the Government has different thresholds set; passing which, there is an obligatory necessity to apply for the FSSAI Registration License. If you wish to start any food business related to food, you must know all about FSSAI Registration Category.   What Do You Mean By Food Categorization Code? FSSAI converts each food item into a code that implies each food item relates to a unique number that lets you quickly recognize a food item. When do we need a Food Categorization Code? The Food Safety and Standards Authority of India decided to classify the Food Product Category in the food safety compliance system (FoSCoS) under the General Manufacturing type of company, in order to speed up the licensing/registration of small and medium food enterprises. How do we decide the Food F...

It is said that Indian farmers represent the majority of the Indian workforce. It is the major source of income for most rural Indians. The whole country depends totally on agriculture for the basic necessities of food. That is why the government has launched a number of plans and benefits to increase agricultural income. In the end, there are important details for farm income tax that you should know before you file the ITPR. In the following article, you will find out about farm income tax. How do we define income from agriculture? Pursuant to section 2(1A) of the Income Tax Act, activities that produce agricultural income must meet certain criteria. According to the section's definitions, farm income can be derived from these sources: Income from farming comes from renting or renting farmland in India. Income from farming comes from renting or renting farmland in India. Profits from the commercial sale of farm property from the ownership of farmland. A substantia...

Important note: You are no longer exempt from taxation on interest that you earn on your PF contributions. Taxes will be deducted by the EPF organization and starts on April 1st, 2022. This announcement comes following an announcement made by Financial Minister Nirmala Sitharaman in her budget 2021 speech. Therefore, it is essential for everyone, including business owners as well as non-government employees and government employees to know the latest information regarding the taxation of interest earned on the PF. This article will help you'll be aware of the most recent update to your contributions to PF. The earlier regulations for interest earned on PF The section 80C in the Income Tax return filing Act offers a tax exemption for the three funds PPF, GPF, and EPF funds. The Income Tax Act exempts the earnings earned, the money made, as well as the accrued interest resulting from these schemes from taxation. In simple terms according to earlier regulations, you weren't requi...