Always, a businessman's life is full of goals and problems. The rules and requirements set by the government may seem pointless and extra in the business world. Still, statutory value is like the base of a building. Legislative rules tell businesses how to run and what standards they must meet, similar to how a strong base supports and stabilizes a building. Compliance with legal responsibilities protects organizations from instability, legal disputes, and even collapse, similar to how a building without a strong base can fall apart.

In this context, we shall examine several essential statutory elements of business that are virtually obligatory for the continued existence of a company. These components will be examined in the following section from the perspective of small-scale enterprises and startups.

Indian startups need to work together with a number of government agencies to make sure they follow the law. Some of the most important regulatory groups that new businesses need to work with are.

RoC, or Registrar of Companies: The Companies Act, 2013 or the Limited Liability Partnership (LLP) Act, 2008 says that startups need to register their business with the RoC.

Intellectual Property Offices: To protect their intellectual property assets, startups should file patent applications, register logos, and get copyright protection.

Labor departments: It's important for startups that they follow all the different labor laws and rules when they hire more people. This includes paying at least the minimum wage, offering perks, and following health and safety rules at work.

Tax Authorities: New businesses must follow tax rules, get a Permanent Account Number (PAN), a Tax Deduction Account Number (TAN), and, if needed, register for Goods and Services Tax (GST).

Local governments, state governments, and regulatory bodies: Depending on the type of business, these groups may issue startups with specific licenses and permits that they need to officially run.

Directorate General of Foreign Trade (DGFT): Importer Exporter Codes must be obtained by new businesses that import or export goods.

Food Safety and Standards Authority of India (FSSAI): New businesses in the food industry may need licenses from FSSAI to make sure they follow food safety rules.

Department for Promotion of Industry and Internal Trade (DPIIT): This department may give new businesses permits or licenses based on the type of business they are starting.

Startups can build a strong base for growth and success in India's tough business environment by working together with these governing bodies and making sure they follow the law when it comes to entity registration, intellectual property protection, labor laws, tax rules, and certain industry-specific permits