NextQ209

Latha started her business of making dosa batter from her home during her free time and started selling the same to households in her area. The batter was a huge success as the quality was good and according to the taste of the target market. She decided to make it into a full-time business. Her entire family supported the venture. She approached few family members and friends who lent her around Rs.2 lakh. With that money she purchased some machinery and took a small space on rent to start producing the batter. Her batter in the name of 'Home Taste' was a huge hit in the market. Within a span of few years her business grew double fold.She was talking about her successful venture to her brother who is also a chartered accountant. He suggested her that she should improve her business model so that it will enable mass production. They analysed that they will have to make a list of all pros and cons of increasing the business. Keeping this in mind, her brother prepared a document which described formally the relevant external and internal elements involved in starting the venture on a large scale. This document comprised of various components. Explain in detail any six items which should be included in the component which gives a projection about the economic feasibility of the enterprise

Formalities for Starting a BusinessStudy Simplify SpecialPYQ6VLQCase_Based
Question 208

Ghosh started a sole proprietorship form of business. He expects that his annual turnover will be rupees 12 lakhs. His friend Bannerjee advised him to obtain the necessary document from the Income Tax Department. Ghosh wanted to know about the document and also the parties who must have it. Bannerjee explained him the meaning of the document and also explained the different parties who must have it. In the light of the above statement:(a) give the name and meaning of the document explained by Bannerjee to Ghosh (b) Also, state the parties that must have this document.

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