Give your business a unique identity by registering it as a brand name popularly known as “Trademark”. It includes important business elements representing your brand such as logo, brand name, website, brand tagline which differentiates the products & services of your company from another. Any individual, NGO, company, trust, and even a government agency can apply for Trademark registration. A registered trademark is a business asset, protecting its investment in creating a brand identity such as logo, etc.

Difference between preference shares and equity shares

There are two types of shares, preference and equity shares. Both are different with their advantages and disadvantages. The dividend of equity shares majorly depends upon the performance of a company whereas the dividend of preference shares is fixed. The Equity market involves higher market risk hence equity shareholders are always at the risk of higher loss because they hold a residual share in the company’s liquidation process however in the case of preference shares, the shareholders have a higher claim on earning as the dividend rate is fixed. Some of the basic differences between equity and preference shares are mentioned below:

Equity Shares	Preference Shares
Includes voting rights under general meeting.	No voting rights available.
Have participants who are responsible for the management of a company.	Doesn’t hold any responsibility regarding the company’s management.
They are ordinary shares with no specific types.	They come in various types:   Convertible & non-convertible Cumulative & non-cumulativeNon-participatory etc.
Cannot be converted into preference shares.	Can be converted into equity shares.
The Rate of dividend is fluctuating.	The Rate of dividend is fixed.
During the liquidation process, shareholders will hold a residual right of an asset even after the repayment of preference shares.	Shareholders hold first right post repayment.

Income Tax Assessment

Every person whose income is beyond the basic tax exemption limit in a particular financial year is entitled for paying tax to the government. They must mandatorily file an Income Tax return including their income details, deduction, and other related information. Once the return is filed by a taxpayer, the Income Tax department will process it and conduct an assessment as per the parameters set by the Central Board of Direct Taxes (CBDT). This process is known as Income Tax Assessment.

Self Assessment

In the self-assessment process, the assessee himself determines the income payable under tax laws. The assessee consolidates his income from various sources, adjusts deductions, losses, and exemptions available during the year, and calculates his net income. Further, the TDS and Advance Tax is deducted from the amount to determine the payable tax amount on the net income. Even after doing all the calculations, the assessee still qualifies for paying tax then he can use the various forms available on the income tax website for filing the return. This process is known as Self Assessment and it is done before filing the return of income.

Summary Assessment

This type of assessment doesn’t require any human intervention and the information submitted by the assessee is directly cross-checked by the Income Tax department against the information already available in their database. The department verifies the rationality and correctness of the return filed by the assessee in this process. The return gets completed online and the arithmetical errors, disallowances, and incorrect claims are completed automatically. For example- If the income tax department finds that the TDS credit claimed by a taxpayer is higher than available against his PAN number in department records, then adjustments made will increase the liability of a taxpayer. If the assessee is found to be liable for paying tax even after all the assessments are completed by the tax department, then he will be intimated under Section 143(1).

Regular Assessment

The IT department authorizes an Assessing officer, not below the rank of Income Tax office for conducting the assessment to ensure that assessee has neither underpaid any tax nor overstated any expenses and understated any income. Certain parameters are set by the CBDT authority basis which a taxpayer is selected for a scrutiny assessment which can be conducted through two ways:

• The IT department may ask the assessee to produce books of accounts and evidence to validate the income stated while filing a return. After the scrutiny of all the details, the assessing officer passes an order to make additions or confirming the return. The assessee should respond to the income tax demand accordingly.
• If the department finds that scrutiny is required, advance notice will be sent to the assessee. However, such notices aren’t applicable to serve after the expiry of six months from the end of the financial year.

Difference between Trade License & Establishment License

Trade license is granted to the person starting or carrying out a particular business or trade whereas the shop establishment license is offered to the individual starting any business or shop needs business registration with the local government in the shop establishment. Some of the important differences are mentioned below:

• The trade license and shop establishment laws are different in every state and their fees also vary accordingly.
• Trade license needs to be obtained within 30 days of starting the business. If an individual is violating any law or condition related to the trade license, it can be either canceled or revoked.
• Trade license is available only for commercial premises while shop and establishment can also be available for residential premises.
• It is mandatory to obtain both a trade license and shop establishment license to ensure they are carrying out business activities ethically and following all the safety guidelines issued by the government.

How to get Incorporate Certificate in India

A private company has to follow the below steps to obtain the Incorporate Certificate in India.

• Obtain a DSC (Digital Signature Certificate) & DIN (Digital Identification Number) by the Ministry of Corporate Affairs. It is issued to the Director of a company.
• Apply for the approval of the company name. An application is submitted to the Registrar of Companies and approval is usually received within 14 days of application.
• Preparation of crucial company documents including MOA (Memorandum of Association) and AOA (Articles of Association). The MOA defines the scope and operation details of a company and AOS defines the rules and regulations for conducting these operations.
• Filing e-forms and submission of required fees to the Registrar’s office post verification.
• The Certificate of Incorporation is issued when all the submitted documents are verified and approved by the authority. The Certificate is mailed to the Directors of the Company.