Nov 142022

Registration – not mandatory:

The Partnership Act does not require the registration of a Firm as a mandatory process, however, only registered firms are considered legally existing. The firm can get registered any time before the existence or during the continuance of the partnership.


Essentials of Partnership Firm:

A Partnership firm is one of the most significant forms of business organization. Where two or more persons come together to form a business and divide its profits and losses in an agreed ratio, then it is a partnership firm.

The type of business organization includes any kind of business, occupation, trade, and profession. The partnership firm can be incorporated only by drafting the partnership deed and getting it stamped. It is even optional to register a partnership firm with the Registrar of Firms. If partners want it to get registered, they have to apply for it to the Registrar of Firms.


Rules as to the name of a Partnership Firm:

While selecting a name for a proposed firm to be registered, one should keep in mind that a firm shall not have any of the names or emblems specified in the Schedule to the Emblems and Names (Prevention of Improper Use) Act, 1950, or any colorable imitation thereof, unless permitted so to do under that Act. Also, the name should not be the one that is likely to be associated by the public with the name of any other firm on account of similarity. Further, any name which, in the opinion of the Registrar, for reasons to be recorded in writing, is undesirable should not be selected.


Application for registration of a Partnership Firm:

An application form for registration of a Firm has to be filed to the Registrar of Firms of the area/State in which any place of business of the firm is situated or proposed to be situated along with the fees prescribed by the Government, which varies from State to State. Such an application would include the following details:

  • Name of the Firm;
  • Nature of business of the Firm;
  • Principal place of business of such Firm;
  • Location of any other places where the Firm carries on business in the above name;
  • Name and permanent address of all the partners;
  • Date of joining by each partner;
  • Duration of the Firm.

Such an application is required to be signed and verified by all the partners or their agents if authorized. Also, such application may be delivered to the Registrar through post or hand delivery or by applying online.


Documents required for registration of Firm:

The following documents are required to be submitted along with the application form for registration of the Firm, with the Registrar:

  • Certified copy of Partnership deed;
  • PAN Card and Address proof of partners;
  • Proof of principal place of business of the Firm, viz., rent agreement or another ownership document like electricity bills, etc ;
  • Affidavit certifying all the details mentioned in the partnership deed and documents are correct and
  • GST Registration


Certificate of Registration issued by Registrar:

If the Registrar is satisfied with the application and the documents and that all the provisions of section 58 of the Indian Partnership Act, 1932 have been duly complied with, he would register the firm in the Register of Firms by recording an entry of the statement and issue the Registration Certificate.

The registered Firm should use the brackets and the word (registered) immediately after its name.

Nov 072022

What is a training management system?

Your entire training operation should be centered around Training management software. It will allow you to link all of your other preferred tools into the system and offer the flexibility to handle any part of your business from the design. Doing this allows you to manage every aspect of your training company without transferring numerous tools and systems. Before using TMS, you need recruitment software to onboard the employee.

Integrating software with your existing tools means you are never limited by the capabilities of a single piece of software. Consequently, you can construct a custom system that reflects your organization’s operations. It takes a lot of planning and coordination across all the teams in your company to schedule and run many courses.

Who uses a training management system?

The front-of-house functions of a training management system have received a brief mention; however, the platform is mainly used by staff members in HRMS services. As a result, training managers, administrators, and staff members who sell instructor-led training are typically the ones who deal with it regularly.

Although a TMS can serve training organizations of different sizes, each training organization has unique requirements. A TMS might slightly favor one audience over another, so it’s up to you to figure out what you need so you can check the appropriate options.
1. Internal training:- Educating those who do not pay to take a course, such as upgrading your workforce.
2. External training:- Training participants in courses that pay a fee

The most important functional difference between these two audiences is that external, commercial training requires extra features that internal training operations may not require.
– Website integration: Typically, your storefront is an e-commerce website.
– Business analytics- Be aware of the schedule’s costs, revenues, profitability, and breakeven thresholds.
– Financial:- Incorporate payments into your accounting system after capturing them.

Benefits of Training Management Software

1. Support corporate culture:- Great leaders are aware that they cannot instill a culture within their company; instead, they must identify the culture that already exists and strengthen it. You may learn more about the current culture of your business and the values that make it up by successfully utilizing your learning management system’s survey and feedback features.

2. Provide development opportunities:- Many people only utilize their LMS for courses that are primarily about business compliance or internal operations. They do not consider the numerous programs offered to assist staff in acquiring professional competencies apart from those necessary for compliance. Training programs in leadership development, supervisor/management, and effective communication aid candidates in getting ready for positions at higher levels of the company.

3. Schedule events and meetings:- Online calendars and schedulers aren’t just for use during training sessions. You can arrange for everyone in the office to take an hour off to attend video meetings, seminars, or even interactive events like guest lecturers. The training management system makes excellent communication vehicles for every internal message, notice, memo, or newsletter.

4. Perform Frequent evaluations:- Written exams, multiple-choice tests, and even blended learning sessions can all be scheduled by TMS. When assessments are finished, you can analyze the work using performance management software to improve work management. Regular evaluations provide evidence of what’s working and what isn’t, enabling you to successfully change internal initiatives and programs.

Frequently Asked Questions

Q1. What is the purpose of software training?
A. Reducing the amount of trial and error so that each job is finished as quickly as possible. Learning the most recent information is possible since live training is based on current knowledge and questions, whereas blog postings and books may be contradictory or outdated. Staff productivity has increased.

Q2. How does a training management system work?
A. A training management system is a more efficient version of the daily management tasks you presently perform for your training firm. You can automate routine tasks and run your entire training company from a single system with features like online registration, course management, CRM, and more.

Q3. What is the importance of training in an Organisation?
A. Through training, workers can develop new skills, polish those they already have, perform better, boost productivity, and become better leaders. Organizations should exert every effort to ensure that individuals perform at their highest levels because a firm is a culmination of what each employee accomplishes individually.

Nov 012022


TDS TDS Payment for October 2022.


GST Return for authorities deducting tax at source – GSTR 7 for October 2022. 
Details of supplies effected through e-commerce operators and the amount of tax collected – GSTR 8 for October 2022.


GST Details of outward supplies of taxable goods and/or services effected – GSTR 1 for October 2022.


GST Quarterly Return GSTR 1 for July to October 2022 for QRMP filers, whose turnover not exceeding ₹ 5 crores.
Return for Input Service Distributor – GSTR 6 for October 2022.


P.F. P.F. Payment for October 2022.
ESIC ESIC Payment for October 2022.


GST GSTR 3B for October 2022 if aggregate turnover is above ₹ 5 crores. 
Return for Non-Resident foreign taxable persons – GSTR 5 for October 2022.


GST GSTR 3B for October 2022 if aggregate turnover is below ₹ 5 crores for Andaman & Nicobar Islands, Andhra Pradesh, Chhattisgarh, Dadra & Nagar Haveli, Gujarat, Goa, Karnataka, Kerala, Lakshadweep, Madhya Pradesh, Maharashtra, Puducherry, Tamil Nadu, Telangana.


GST GSTR 3B for October 2022 if turnover is below ₹ 5 crores for the Rest of India.


GST Monthly Payment for October 2022 through Challan PMT06 for QRMP filers. 


Prof. Tax Monthly Return Tax Liability of ₹ 1,00,000/- & above for October.
Income Tax Return for Income from Companies and assesses to whom Transfer Pricing is applicable for F.Y. 2021-22.

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