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Legal

Compliance

Also known as regulatory compliance, statutory compliance

Keeping up with the filings, taxes and rules your business is legally required to follow. Boring until you skip it, then expensive.

Example

Missing annual ROC filings can attract penalties and show up as a red flag during investor due diligence.

Related terms

Incorporation
The legal act of registering your business with the government so it exists as its own entity. Until you incorporate, you and the business are the same thing in the eyes of the law.
Due Diligence
The investigation an investor or buyer runs before committing money — checking your books, contracts, cap table and legal filings for surprises.
GST
India’s tax on the sale of goods and services. Once your turnover crosses the threshold you must register, charge it on invoices, and file returns.

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