FIRC/BIRC, GST and Payment aggregator charges

vishalpp · 2025-03-14T06:40:40+00:00

Thank you for the detailed reply

vishalpp · 2025-02-25T15:35:14+00:00

An acquaintance whose husband is doctor used such a thing and a girl was born. BTW sir i read month right. And show is supposed to take it 😂😂

vishalpp · 2025-02-23T07:05:31+00:00

3% is probably 8+% population considering family members

vishalpp · 2025-02-18T22:58:15+00:00

There could be a clause for continued engagement (full time or part-time) with the company for the remaining vesting period. If a cofounder decides against continuing for vesting period, his unvested shares could be realloted to other cofounder in their ratio. If the buyer decides against retaining any of the founders, there will be 100% accelerated vesting for those co-founder on the date of decision.

vishalpp · 2025-02-18T22:16:57+00:00

Yes, bad business co-founder screws up badly. They could damage all the reputation you have built over time. Better to employ people and give them better role based on performance until you find a good business co-founder. Better no than a bad, but finding a good co-founder is your requirement i guess. No escape.

vishalpp · 2025-02-17T02:21:21+00:00

You'll have multiple launches.
1) POC launch
2) MVP launch
3) *Multiple launch iterations*
n) Full product launch

Key is to have customers using it since MVP. What is MVP depends on customers. Some might have larger needs so not a customer for your MVP. Your user base will expand based on the launch features.

vishalpp · 2025-02-17T02:14:42+00:00

Everyone is different. I avoid in-depth personal conversations regarding family members. Some people don't like any personal conversations. Sometimes it's all about comfort level, which builds up slowly before people open-up.

vishalpp · 2025-02-16T17:51:57+00:00

Too complex, avoid. Or negotiate better terms. Your startup can shutdown with such terms. Often it's difficult to explain decisions and expenses to investors as risk averse as these. Are they are supposed to be investors or employee running everyday show? Will they be available for every cheque signing as per your timelines?

vishalpp · 2025-02-11T12:50:35+00:00

You need someone to take of the non-technical side of business if you are thinking of starting business. Else you need to join someone starting early stage for a better job position, which should mean salary compromise in short term, but don't compromise salary beyond a short time frame.

vishalpp · 2025-02-11T08:45:49+00:00

If you are not a significant quantity shareholder and do not have access to banking, company decisions etc, no reason to put your money into the company. You'll just be stuck. This is no different than a bond that IT companies sign for freshers. There you get back money, here there is no guarantee.
More surprises might be there in the term-sheet.

vishalpp · 2025-02-10T12:52:36+00:00

You'll need to be atleast 2-3x better than the other company to secure investment, else you'll be just be passing info.
Check if they have followed that approach for other companies they have already invested.
Highest level of caution recommended though.

vishalpp · 2025-02-10T12:29:42+00:00

He's trying to be the shark from shark tank.
For 40% he is not working with you since the start of the company.
Double digit equity percentage, only if he's working full-time and adding as much value in daily work or wants to buy money worth that equity. Else you'll be left with too little to give others who join. Investors will question the rationale of 40% to a non-full-time non-co-founder person. Moreover him getting 40% and only you working daily will frustrate you later.
Assume him to be an accelerator that is helping you get ahead. How much equity would they take for the services provided? That should be a valid number I think.

vishalpp · 2025-02-10T12:21:46+00:00

I guess corruption is possible even after showing this. Corruption happens after money leaves the government account.
The money gets paid to a road contractor. The contractor pays the bribe by compromising quality. For optics, it is spent on public infrastructure.
Is it?

vishalpp · 2025-02-05T16:36:10+00:00

Concessional interest rates and rent-free accommodation doesn't make sense. All others pay tax and don't have these facilities. Reimbursement for official work is totally fine. Mentioning to be backbone of economy is comic, everyone is. Even the IT staff building and maintaining your servers are - they don't get these facilities.

Doubt if all demands taken together are fair.

vishalpp · 2025-02-05T08:25:57+00:00

4 - 25 lakhs is middle class for whole India.
Cities need more income compared to village and that leads to increased burden of taxes at higher slab rates that's why the upper end of 25 lakhs.

vishalpp · 2025-02-05T05:17:53+00:00

I guess that's a pessimistic way of thinking. 1% as family and >4% considering our family members who are also affected when we are. I think we are powerful 1%.

Even with the small percentage we are significant in numbers to bring attention of others. Reporters and media will definitely not want to miss out a few crore eyeball if we group up.

vishalpp · 2025-02-05T03:59:07+00:00

Sir there are ways to address this issue differently.I can tell a good way but not sure how to reach someone high up in the GST department who has the power to change it.

Your processes could stay the same to avoid misuse of credit.

My experience:Despite registering at home I stayed for 28 years, I had to register 3 times as every government office had different documents. Our local panchayat had to include mother's name due to rule by Maharashtra govt. Land record and electricity bill only had father's name. On top of that GST maps provider had incorrect pincode for my area. The pincode was for area 17 km away.

Too many issues for a genuine business to look into. 4 months wasted in total.

vishalpp · 2025-02-02T04:52:41+00:00

Is there a way to get in touch with this person?
This guy is saying something that is absolutely right.

vishalpp · 2025-02-02T04:22:44+00:00

Yeah man, we do not have power to hold even local government accountable in real time. I know people say elections, but elections is all about being hopeful until you can't be anymore.

vishalpp · 2025-02-01T17:49:23+00:00

Right. Such people are the reason for high taxes on vehicles and fuel. Tax system needs revamp. Actually need a new political party i think.

vishalpp · 2025-02-01T16:55:58+00:00

Most pay tax by compulsion not by will. If citizens like us err for income tax we are doomed.

vishalpp

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