Managing a Business in India

Managing Human Resource
Manpower management is an integral part of the process of the management of a business.It is a pervasive function and is performed by all managers at all levels in an organisation .Personnel managers or human resource managers interpret the progressive needs of the organisation and direct individual potential towards a common goal. Today human factor is considered to be the most important resource because the effective utilisation of the other resources of the organisation depends upon the management of the personnels of the organisation. Human resources appreciates in value as the time progresses in terms of acquisition of knowledge and experience.They have inherent dynamism and potential for development.
Managing human resource is a continuous process as there are always some changes in the work force of an organisation.It seeks to focus on the people at work in an organisation,facilitates the development of such human relationships so that each employee derives personal satisfaction and contribute optimally towards realisation of overall goals of an organisation.The changes in the business environment with increasing globalisation, changing demographics of the workforce, increased focus on profitability as a result of growth, technological changes, intellectual capital and the never-ending changes that organisations are undergoing have led to increased importance for management of human resources.The idea of Human Resource Management strategy is that of development of innovation skills and aptitude,improve quality of performance of employees and to reduce costs in an organisation by motivating workers to work harder,applying their best efforts,skills and knowledge towards their work and organisation.
The specific objectives of personnel management are:-
To build and maintain cordial relations between people working at different levels of the organisation.
To ensure effective utilisation of the available human resources.
To provide fair working conditions, wages and amenities to the employees.
To achieve the development of each individual employee to his/her fullest potential.
^ Top

Orientation (Induction)

Occupational Health and Safety

Training

Trade Unions

Employee Benefits

Work Place related issues



Register a Company
Register as Employer
Complaint with Central Vigilance Commission (CVC)
Apply for TAN Card
File Income Tax


more

continue reading here

Managing your Intellectual Proficiency
In today's knowledge-driven economy, intellectual property (IP) has become one of the key considerations in all business decisions.The new products, brands and creative designs launched in the market are the result of human innovation and creativity. This innovative and creative capacity is protected under the intellectual property system. If not protected, it may be lost to competitors who may commercialise the product or service, leaving the original inventor or creator without any financial benefit or reward. Hence, proper protection of a company's intellectual property is necessary for turning ideas into those business assets which have a real market value.
The protection of intellectual property will help a company in the following ways :-
It will prevent competitors from copying or imitating a company’s products or services.
It will prevent wastage of investment in research and development (R&D).
It will help create a corporate identity through a trademark and branding strategy.
It will help the company, negotiate licensing, franchising or other IP-based contractual agreements.
It will help increase the market value of the company.
It will help the company, enhance access to finance.
It will help the company, obtain access to new markets.
also, knowledge of the existing IP rights, will help the enterprise avoid unnecessary conflicts and litigations.
Hence, an effective IP management strategy will help companies use their intellectual property to increase their competitiveness and increase the strategic advantage, while minimising the risks and uncertainties involved. There are three phases of an IP management strategy :-
Phase I(Gaining control over IP portfolio):- it includes analysing intellectual asset portfolios and developing and implementing programs for their monitoring and enforcement.
Phase II(Investing in your IP portfolio):- it involves a review of the opportunities for investing in acquisition or creation of different forms of IP. It also involves the application of corporate investment policies and practices to IP management investments for creating a 'level playing field' in terms of other investment priorities.
Phase III(Maintaining control over your portfolio):- it involves, utilising information technology tools to capture and manage critical intellectual asset portfolio information in order to sustain IP profits and protect existing IP investments
^ Top

Copyrights and related rights

Industrial Designs

Patents

Trade Marks

Layout Designs of Integrated Circuits

Plant Varieties

Geographical Indications

Protection of Undisclosed Information


more

continue reading here

Taxes
Taxes (or duties) are defined as the financial charges levied by the Government upon an individual or an organisation or property in return for the government services received by them. These taxes may be broadly classified into direct and indirect taxes. Direct taxes are those where the tax payer pays the taxes directly to the imposing authority like income tax and wealth tax. Whereas, indirect taxes are those which are not paid directly to the imposing authority but paid to someone else who acts as an intermediary link between the tax payer and the tax levying authority like excise duty and service tax.
In India, the power to levy taxes and duties is distributed among the three tiers of Government, in accordance with the provisions of the Constitution. The main taxes/duties that the Union Government is empowered to levy are:- Income Tax (except tax on agricultural income, which the State Governments can levy), Customs duties, Central Excise and Sales Tax and Service Tax. The principal taxes levied by the State Governments are:- Sales Tax (tax on intra-State sale of goods), Stamp Duty (duty on transfer of property), State Excise (duty on manufacture of alcohol), Land Revenue (levy on land used for agricultural/non-agricultural purposes), Duty on Entertainment and Tax on Professions & Callings. The Local Bodies are empowered to levy tax on properties (buildings, etc.), Octroi (tax on entry of goods for use/consumption within areas of the Local Bodies), Tax on Markets and Tax/User Charges for utilities like water supply, drainage, etc.
The tax system in India has under gone a radical change as a result of economic reforms. Some of the changes include:- rationalization of tax structure; progressive reduction in peak rates of customs duty, corporate tax rate reduced, customs duties to be aligned with ASEAN levels; value added tax introduced;widening of the tax base; tax laws have been simplified to ensure better compliance.
^ Top

Taxation of Individuals

Taxation of Partnerships

Excise Duty

Taxation of Corporates

Taxation of Agents

Service Tax

Taxation of other forms of Business Entities

Taxation of Representative offices





Related Links:
Ministry of Finance
Central Board of Excise and Customs(CBEC)
Central Board of Direct Taxes(CBDT)


more

continue reading here